an increase in investor inflows Australian Unity’s Property Income Fund (PIF)
has purchased a commercial property in Port Adelaide, South Australia, for $8
in 1999, the fund invests in a diverse mix of income-producing direct assets,
unlisted funds and listed property securities, which generate a steady,
competitive distribution stream and capital growth.
acquisition is a commercial office building located at 296 St. Vincent Street,
Port Adelaide, South Australia, located approximately 12 kilometres from
Adelaide’s CBD. It comprises a two storey building with a net lettable area of
3,537 square metres and 39 onsite car parking spaces. The initial passing yield
is 9.25 percent.
property is 100 percent leased with a weighted average lease expiry of 2.5
years, to tenants including Flinders Ports, China Shipping, South Australian
Housing Trust and Community Bridging Services.
Fisher, portfolio manager, said with Government bond yields currently at two
percent and PIF currently paying a distribution yield of more than six percent
generated from real income from property rental yield, the fund continues to
appeal to investors.
offers a daily liquidity facility and doesn’t have any debt which provides
investors with additional comfort.
acquisition is in line with the long-term strategy to grow and diversify the
fund through acquisition of new assets, as well as improving existing
that the outlook for commercial property is positive and continue to look for
opportunities for further acquisition and development.
Australian commercial property markets offering higher comparative yields than
other international property markets, we believe strong demand from overseas
investors for local commercial property is set to continue, providing ongoing
support for valuations.
the fund is well-positioned to provide investors with a consistent, sustainable
level of distribution income over the medium term.
wholesale units has returned investors 13.38 percent over one year (distribution
return 6.71 percent), 10.67 percent over three years (distribution return 7.13
percent) and 10.24 percent over five years (distribution return of 7.14 percent)
– as at 31 May 2016.”
Ph 03 8682 7063