Building 17, 2404 Logan Road
Forecast income distributions of 8.0%* in year 1 and growing year-on-year
Building 17, 2404 Logan Road (B17 GCOP)
31 March, 2021
Dean Palmer, CEO of Skybound Fidelis Investment said strong support was received from eligible investors, with applications totalling $10.3 million received under the company’s Information Memorandum (IM) for the Skybound Fidelis Commercial Property Fund 3 (SFCPF3).
The IM was oversubscribed with strong appetite from investors seeking higher income yields from a quality commercial property. Forecast income returns of 8%* in year 1 (and growing year-on-year) proved very attractive.
The proceeds raised from investors, together with debt funding from the CBA, have been used to acquire a high quality, stand-alone office building located at Building 17, Garden City Office Park (GCOP). The property benefits from a long-term 10-year lease to a national tenant, with 100% of property outgoings paid by the tenant and fixed 3% per annum annual rental increases.
Skybound Fidelis Director, Jeremy Thorpe said that the level of support received from wholesale investors was a strong endorsement of Skybound Fidelis’ investment strategy and ability to offer high quality investment opportunities to investors. It also displays strong demand for the income yields provided by the commercial property market, including in Brisbane and the surrounds.
- Property details – Building 17, Garden City Office Park, Brisbane
- Forecast income distributions of 8.0%* in year 1 and growing year-on-year
- 10-year lease provides access to a long term and certain income stream
- Annual rental increases of 3% per annum or CPI (whichever is higher)
- Freehold title
- Recent full building refurbishment and brand-new tenant fit-out
* Income forecasts are based upon forward-looking assumptions which are in turn based on an assessment of recent economic and operating conditions, and on a number of assumptions regarding future events and actions which are expected to take place. Forecasts are not guarantees of future performance and involve known and unknown risks, uncertainties, assumptions and other important facts
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