***Units are currently available – for more information, click here***

The two A-grade office properties, that have recently undergone a major asset enhancement program, are located in the fast-growing region of Newcastle with access to excellent transport options. The buildings are well leased to Government and national corporate tenants, underpinning relatively stable and secure rental income.


For any enquiries, please contact APN Property Group on 1800 996 456 or email us at apnpg@apngroup.com.au.

Commencement date
28 October 2004
Investment type
Direct property fund with liquidity event planned in 2024
Fund status
Units available to purchase
Latest Unit Price($)
Entry price $1.4346
Management fee
0.65% of Gross Asset Value per annuum
Two A-grade office buildings, each seven levels, located in the heart of Newcastle's CBD. 26 and 28 Honeysuckle Drive, Newcastle NSW.
Major tenant
Property NSW, Sparke Helmore Lawyers, QBE, Newcaslte Herald, Yancoal Australia
Weighted average lease expiry
2.8 years by income (as at 31 March 2020)
Property value
$51.8 million (Independent valuation as at 31 January 2019)
Net Asset Value
  $1.4062 history
Investment term
5 years
Forecast distribution yield of 7.10% per annum for FY20*
Distribution frequency
Liquidity event planned in 2024
* Forecast only, distributions and returns and performance are not guaranteed – The forecast remains subject to a number of uncertainties and assumptions.

Key highlights

  • Attractive valuation, supporting strong capital growth potential
  • 164 secure car parking spaces and close to bus, train and light rail
  • New state of the art end of trip facilities, bathrooms and foyer refurbishments
  • Energy efficient buildings targeting a 5-star NABERS rating
  • Conservatively geared at 34% (target range of 30-45%)
  • Rental growth, with 3-4% annual fixed rent reviews
  • Managed by a specialist property manager with more than 14 years local Newcastle knowledge

How to invest

For more information on this Fund, and the opportnity to purchase units – click here.

Investor information

Contact us

Investor Services Hotline
1800 996 456
Adviser Services Hotline
1300 027 636
Email us

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