Offer Open date: 21 February 2022
Manager: Centuria (Australia)
Providing New Zealand investors with an opportunity to diversify into the Australian property market, Centuria 25 Grenfell Street Fund acquired a 50% interest in a landmark commercial office tower located in the heart of the Adelaide CBD.
Highlights of the investment included that at the time of the offer approximately 72% of the gross income was underpinned by the South Australian Government and multinational tenants and that the property was situated adjacent to Rundle Mall, Adelaide’s premier retail precinct, in close proximity to public transport. There was also the opportunity to add value by enhancing the property’s leasing profile through active management and capital expenditure.
The minimum investment was AUD$50,000 with a 5-year initial investment term.