APN Nowra Property Fund

APN is pleased to provide a new commercial property investment opportunity that is available for sophisticated and wholesale investors.

The APN Nowra Property Fund comprises a single large format retail asset, located in an established retail precinct in Nowra on the NSW Coast. The asset is 100% leased, and guaranteed until 2031 by Woolworths Limited (ASX: WOW), which currently has a market value in excess of $35 billion.

Background

APN acquired the Masters South Nowra property in 2015 with the intention of contributing the property to a new multi-asset convenience retail fund. Subsequent to that time, and following the well publicised challenges of the Masters business (APN would not have acquired the asset originally without the Woolworths guarantee), Woolworths / Masters confirmed they would not trade out of the centre. The property’s rental income is guaranteed by Woolworths Limited for the current lease term (15 years) with all rental payments since lease commencement having been received with no rental payments outstanding.

Investing

The total equity available for investment is approximately $13.1 million, and we intend to allocate equity to investors on a first come, first served basis. The Information Memorandum contains the details on how to invest but the key dates (unless altered under the IM) are:

  • Applications received: first come, first served basis
  • Offer closing date: Friday 26 October 2018
  • Units allotted: Thursday 8 November 2018

* Forecast only, distributions and returns and performance are not guaranteed – The forecast remains subject to a number of uncertainties and assumptions.

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