Westbridge Funds Management launches Westbridge Diversified Fund No. 4

30 September 2021

Westbridge expands its investment line up for retail and wholesale investors, building on the success of its popular Diversified Fund series.

  • Westbridge Diversified Fund No. 4 is targeting a $100-150 million property portfolio through the purchase of up to 12 assets.
  • The Fund offers the opportunity to invest in a portfolio of high-quality commercial properties diversified by state, asset class and tenants.

Leading Western Australia-based property funds manager – Westbridge Funds Management, has today launched the Westbridge Diversified Fund No.4, building on the popular success of its Diversified Fund Series.

The Westbridge Diversified Fund No.4 aims to acquire a $100-150 million portfolio of commercial properties diversified by state, asset class and tenants with the principal aim of providing consistent income while targeting assets with capital growth potential.

The Westbridge Diversified Fund No.4 fund has launched with an investment in two adjoining industrial distribution facilities located in Broadmeadows, Victoria.

Both assets are leased to Holman Industries – a key supplier of hose pipe and reticulation products to leading outlets including Bunnings, Tradelink and Reece.

The 1.43-hectare site is leased on an initial term of 7 years and 2×5 year options, with a commencement net rent of $750,000 per annum.

Mr Alex Lambert, Head of Commercial Funds at Westbridge, said, “The 7-year lease term to Holman provides a great platform to launch the Westbridge Diversified Fund No.4. Holman is a great WA born company that fits with one of our goals for the Fund, targeting quality tenants, including private, national and international lease covenants.”

Westbridge’s previous diversified fund, Diversified Fund No.3 closed in August 2021 with a portfolio of $90 million spanning eight quality assets across three states and multiple sectors.

“Prior Diversified Funds have been highly sought after by our investors due to their varied nature, which enables them to gain exposure to different growth areas and reducing risk in comparison to investing all their capital into a single asset,” said Mr Lambert.

Westbridge’s Head of Capital Transactions, Simon Worth elaborated on the strength of the location of the initial asset.

“The site sits within the Hume City Council, one of Australia’s fastest growing and culturally diverse communities. The asset is located on a prominent site within the Broadmeadows industrial precinct, located approximately 18kms north of the Melbourne CBD and 10kms southeast from Melbourne Airport.”

“The asset benefits from convenient access to major arterial road networks including the Western Ring Road, the Hume Highway and the Hume Freeway and is set to benefit from the future North East Link,” said Mr Worth.

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