PERFORMANCE CASE STUDY

SOLD – LFM Long WALE Trust No.1

Gawler, SA and Griffin, QLD

$1.56

UNIT PRICE REALISED $1 Acquisition

13.7%

IRR *As at Jun-26

7% pa

AVERAGE ANNUAL DISTRIBUTION

1.98x

EQUITY MULTIPLE (including distributions)

6 years

INVESTMENT TERM

Origination

  • Acquired two properties off-market (QLD & SA) on a fund-through basis.
  • Developer relationship, targeted assets underpinned by strong tenant covenants in non-discretionary sectors.
  • Portfolio acquisition price of $11.2 million (December 2020).
  • Brand new high-quality construction with significant building allowance and depreciation benefits.

Strategy

  • Development & hold for rental income and capital growth.
  • Long-term 15-year leases with fixed annual rental increases.
  • Investment offering geographic, asset class and tenant diversity with complementary income profile to maximise returns.

Execution

  • Fixed, pre-agreed purchase price supported by an independent valuation.
  • No construction or leasing risk until completion of the building and commencement of the lease.
  • Income distributions paid through construction from development coupon.
  • Delivered to program with value appreciation prior to completion.

Result

  • Held for 6 years for income distributions.
  • Portfolio disposal June 2026 for $15.95m.
  • IRR: 13.7% p.a.
  • Unit Price Realised: $1.56.
  • Average annual income distribution: 7%.

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