Westbridge Diversified Fund No.4

Register Interest

INVEST
7 .0%
per annum

TARGET DISTRIBUTIONS PAID MONTHLY*

$ 100
million plus

TARGET SIZE OF FUND ONCE CLOSED

$ 50 k
min investment

*Forecast distributions are not promised nor guaranteed and are based upon a number of assumptions. Their achievement is subject to risks. The target return range is a target only, not a forecast and it might not be achieved. Please refer to the PDS for more information, noting the section on financial information and risks.

 

Diversified fund comprised of national and ASX listed tenants

This commercial property fund is underpinned by high profile tenants and aims to provide investors with regular monthly income and the potential for capital growth*.

The Fund is now in the processing of acquiring a third asset, a retail complex in Southern River, WA anchored by major tenant Dan Murphy’s and a tavern/bistro, leased to the ASX listed Endeavour Group until 2034, plus other tenancies. Strategically located in one of Perth’s fastest growing residential corridors, the asset is fully leased with a robust WALE of 8.6 years.

  • 7% p.a. target distributions paid monthly (potential for capital growth in addition).*
  • Strong lease covenants. Tenants include Dan Murphy’s, Holman Industries and Blackwoods, a wholly owned subsidiary of Wesfarmers.
  • Properties diversified by state, asset class and number of tenants.
  • Designed to provide regular income to investors, while targeting assets that have the potential for capital growth.*

Below is a selection of some of the tenants:

Third Tranche Raise Now Open

Offering investors the opportunity to invest in a portfolio of high-quality commercial properties, the Westbridge Diversified Fund No.4 will be aiming to acquire properties diversified by state, asset class and number of tenants.

The Fund is designed to provide regular income to investors, while targeting assets that have the potential for capital growth.*

The latest addition to the fund is a diversified retail offering comprising a freestanding Dan Murphy’s store, adjoining Brooklands Tavern and a single level retail building, which is 100% leased with a WALE of 8.62 years.

This asset joins the two recently acquired properties by the fund. A site consisting of two modern, adjoining industrial distribution facilities in Broadmeadows, Victoria and a recently upgraded warehouse logistics facility in Canning Vale, WA. Both assets are on significant land holdings, in prime industrial locations.

This acquisition focus remains regular with our existing diversified series, with a national mandate focusing on assets where there are compelling attributes for investment.

Expressions of Interest

Now Open


Total Raise

$11,000,000


Minimum Investment

$50,000


Funds Required

3 June 2022


Target Market Determination

View the Target Market Determination

Success Highlights | Diversified Series

Westbridge Diversified Fund No.4 follows on from our popular Diversified Series.

Read more on our past performance and success below.

Past performance is not a reliable indicator of future performance. Performance comparisons are provided purely for information purposes only and should not be relied upon. 

Third Asset

1-7 Holmes Street, Southern River WA

1-7 Holmes Street, Southern River, a retail complex anchored by a Dan Murphy’s, is the third asset to be added to the Fund. The asset comprises a freestanding Dan Murphy’s and a tavern/bistro, leased to the ASX listed Endeavour Group until 2034 as well as a separate retail building which includes high-profile tenancies Baskin Robbins, Crust Pizza and LJ Hooker.

The property is strategically located adjacent to Woolworths and Aldi and is situated in one of Perth’s fastest growing residential corridors.

Occupying a high-profile corner site of some 1.07 hectares, the property benefits from prominent exposure to the major arterial thoroughfare, Warton Road. The asset offers convenient on-grade parking to the rear with the provision of approximately 160 car bays, which are easily accessed from both Warton Road and Holmes Street.

The on-site improvements consist of an open plan large format Dan Murphy’s retail liquor store fronting Holmes Street and an adjoining family-style tavern (Brooklands Tavern) at the rear of the property. The separate retail building fronting Warton Road is leased predominately to convenience based tenancies.

The asset is currently fully leased and boasts a diverse tenant mix and robust WALE of 8.6 years. The income stream, anchored by Dan Murphy’s and Brooklands Tavern (ALH Group), offers a combination of both national and local operators in a variety of well-performing business sectors.

Key Features

Address

1-7 Holmes Street, Southern River WA 6110


Land Area

10,744 sqm


Building Area

3,038 sqm


Tenants

Dan Murphy’s, Brooklands Tavern (ALH Group), Baskin Robbins, LJ Hooker, Crust Pizza plus others

Asset 3 - Investment Highlights

  • A diversified retail offering comprising of a freestanding Dan Murphy’s store, adjoining Brooklands Tavern and a single level retail building. Further high-profile tenancies include Baskin Robbins, Crust Pizza and LJ Hooker.
  • The property is anchored by the Australian Leisure and Hospitality Group (ALH), a wholly owned subsidiary of Endeavour Group (ASX:EDV), and accounts for over 62% of net income.
  • Following the demerger from Woolworths in 2021, Endeavour Group has become Australia’s leading retail drinks and hospitality business. With a market capitalisation of over $13 billion, the company offers a suite of well-known brands including Dan Murphy’s, BWS, ALH Group, Jimmy Brings and Langton’s across more than 1,640 retail outlets nationally.
  • A wholly owned subsidiary of Endeavour Group, ALH Group is Australia’s largest on-premise venue operator and currently manages a portfolio of over 330 distinct licensed venues in capital cities and urban and regional centres.
  • 100% leased with a WALE of 8.62 years.
  • Prominent corner landholding of some 10,744sqm benefitting from 58m of frontage to Warton Road and exposure to a high volume of passing traffic.
  • The property is strategically located adjacent to Woolworths and Aldi and is situated in one of Perth’s fastest growing residential corridors.
  • Modern improvements having a total lettable area of 3,038sqm.
  • Two separate titles with the ability to sell the buildings individually offering flexible exit strategies.

Strategically Located

Straddling the border of Canning Vale and Southern River, the property lies approximately 17km south east of the Perth CBD, with strategic immediacy to major arterial roads and public transport networks such as Warton Road, Nicholson Road and Roe Highway. The asset services a rapidly growing residential corridor in the southern suburbs of Perth with the surrounding LGA having a population of some 120,000 people.

Directly adjacent to a freestanding Aldi and situated opposite a Woolworths, the property is located in an established retail precinct and acts as a key focal point for the surrounding residential catchment. The asset benefits from exceptional exposure with over 150m of total street frontage.

Second Asset - Canning Vale, WA

The second asset to be added to the Fund is a recently refurbished office/warehouse facility erected on a significant 23,177sqm general industrial zoned site in Canning Vale, WA, leased to Blackwoods, a wholly owned subsidiary of Wesfarmers.

ADDRESS

41-43 Baile Road, Canning Vale WA 6155



LAND AREA

23,177 sqm



BUILDING AREA

10,460 sqm



TENANT

Blackwoods, wholly owned subsidiary of Wesfarmers



INVESTMENT HIGHLIGHTS

  • The generic facility and existing internal wall of the warehouse allows for future sub-division if required.
  • A 5-year lease term agreed in February this year with 2 x 5 year options.
  • Commencing rent of $815,000 per annum ($78/sqm) and annual CPI reviews providing regular cashflow for the Fund.
  • The current passing rent is considered below current market rates, which allows for future positive rental reversion.

First Asset - Broadmeadows, VIC

To commence the fund, two adjoining industrial distribution facilities in Broadmeadows, Victoria were secured via a competitive on-market campaign, with the property leased to Holman Industries on 7-year lease term.

ADDRESS

125 & 145 Northcorp Boulevard, Broadmeadows VIC 3047



LAND AREA

14,381 sqm



BUILDING AREA

8,275 sqm



TENANT

Holman Industries



INVESTMENT HIGHLIGHTS

  • The improvements comprise two separate buildings situated on 8,275sqm, with dual street frontages.
  • Sale and Leaseback to Holman Industries on initial term of 7 years and 2×5 year options with a commencement net rent of $750,000 per annum ($91/sqm).
  • Triple Net Lease (Lessee responsible for all outgoings including those of a capital/structural nature and management fees).
  • The functional improvements and the ability for the buildings to be separated provides flexibility to lease to multiple users.
  • Two separate titles with the ability to sell the buildings individually offering flexible exit strategies.

Expression of Interest

Complete the form below and we’ll provide you with more information on this investment opportunity.

Disclaimer*
A Product Disclosure Statement (PDS) and Target Market Determination (TMD) for the fund will be made available when the fund is launched or otherwise becomes available. By returning this EOI form to Westbridge Funds Management, you will receive a copy of the PDS and TMD, and these will also be made available via www.westbridgefunds.com.au. Investors should consider the PDS and TMD before deciding whether to invest in the fund or continue to hold units in the fund. This is not a PDS or any form or offer to invest in Westbridge Diversified Fund No.4 ARSN 653 544 168 (Fund). This document is supplied to you for information purposes only and for no other purpose. This document is not and should not be considered as giving financial product advice by either Mair Property Funds Limited ACN 151 957 676 t/a Westbridge Asset Management (Manager) or Mair Property Securities Limited ACN 091 623 862 AFSL number 238386 (Responsible Entity) or any of their respective shareholders, directors, officers, agents or advisers. It does not purport to contain all the information that a prospective investor may require in connection with a decision to invest in the Fund and does not constitute any offer to sell or to subscribe for any units in the Fund. The information contained in this document, whether express or implied, is published or made by the Manager in good faith in relation to the facts known at the time of preparation. Information is current as at the date of this document, unless otherwise noted. Past performance is not indicative of future performance.

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