Westbridge Funds Management is thrilled to announce Westbridge Diversified Fund No.4 is open for new investment following the purchase of two further assets.
The acquisitions will mark a significant milestone for the Fund as it continues to grow and diversify its holdings.
The first new asset is a state-of-the-art Commercial Service Centre located in the rapidly expanding growth corridor of Brabham, just 24 kilometres north-east of Perth’s CBD.
The Service Centre boasts a multi-tenant structure, with an impressive Weighted Average Lease Expiry (WALE) of 10.73 years.
It is anchored by reputable blue-chip and multinational tenants including 7-Eleven, Subway, EG Fuel and Oporto.
The second asset is a modern manufacturing facility situated in the prime industrial precinct of Wacol, 16 kilometres southwest of Brisbane’s CBD.
The facility has secured a brand-new 15-year lease with EGR Group, a global manufacturer of precision engineered solutions operating across five continents.
With these acquisitions, the Westbridge Diversified Fund No.4 will comprise a total of six commercial assets, with a combined value of $100 million. This brings the fund to two-thirds of its final $150 million target.
A look at the Fund’s existing portfolio
The new acquisitions will add to an already established asset mix. This includes adjoining distribution facilities in Broadmeadows, Victoria, leased to Holman Industries; an office/warehouse facility in Canning Vale, leased to a subsidiary of Wesfarmers; a retail complex in Southern River, anchored by a freestanding Dan Murphy’s store; and an industrial complex in South Guildford, leased to Swick Mining Services.
Westbridge Funds Management has already witnessed significant results from the assets in the Fund.
The Canning Vale asset at 14 Baile Road has recently undergone a revaluation, revealing a solid capital uplift. This increase comes on the back of substantial rental growth of 32% in Perth’s southern industrial precinct since the asset’s acquisition (JLL).
Additionally, the Fund’s portfolio has experienced a 6% growth in income since inception, underpinned by high CPI growth and rental growth in the industrial sector.
Since the Fund’s establishment, investors have benefitted from regular monthly income distributions, currently paid at the rate of 6.5% p.a.
A staple of our core fund offering
Following on from the three previous funds in our Diversified Series, Westbridge Diversified Fund No.4 is designed to offer investors regular income and potential for capital growth through a diversified asset mix across various states, sectors, and tenants.
Damian Collins, our Chairman at Westbridge Funds Management, highlights the appeal of this offering to investors:
“Our diversified funds have historically held strong appeal to income-focused investors because they are underpinned by multiple income streams within the one investment, which helps to support consistency of distributions.”
“In addition, this diversified focus enables us to target growth opportunities across multiple markets and sectors, often blending assets that focus on establishing a strong WALE, with properties that offer a value-add component to provide both income and growth opportunities,” he explains.
Damian concludes, “There is a reason we continue to offer our diversified funds as part of our core funds offering. They have consistently been in high demand with our investors, and their popularity is testament to the attractive offering and income opportunities they provide.”
If you would like to learn more about the latest opportunity to invest in Westbridge Diversified Fund No.4, visit our website here or register your interest below to receive a copy of the Fund’s PDS and TMD.
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Register Interest in Diversified Fund No.4
If you’re interested in investing in this Fund, or would like further information on this opportunity, please register your interest below to receive a copy of the Fund PDS.
*Distributions are not promised nor guaranteed and are based upon a number of assumptions. Please refer to the PDS and TMD for more information, noting the section on financial information and risks before deciding to invest.