***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
Unlisted direct property fund with a liquidity event planned in 2024
Fund status
Units available to purchase
Entry Unit Price($)
Entry price $1.4346
Two A-grade office buildings, each seven levels, located in the heart of Newcastle's CBD at 26 and 28 Honeysuckle Drive, Newcastle NSW.
Major tenant
Sparke Helmore Lawyers, Property NSW, QBE, EML, Noble Resources, Yancoal Australia, Australian Border Force
Weighted average lease expiry
2.5 years by income as at 30 September 2020
Property value
$51.8 million (Independent valuation as at 31 January 2019)
Net Asset Value
  $1.4037 history
Investment term
5 years
Forecast distribution yield of 7.10% per annum for FY21*
Distribution frequency
Liquidity event planned in 2024

*Based on Entry Price of $1.4346 per unit. 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 opportunity to purchase units – click here.

Important Information
This information has been prepared by APN Funds Management Limited (APNFM) (ABN 60 080 674 479, AFSL No 237500) for general information purposes only and whilst every care has been taken in relation to its accuracy, no warranty is given or implied. The information provided in this material does not constitute financial product advice and does not purport to contain all relevant information necessary for making an investment decision. It is provided on the basis that the recipient will be responsible for making their own assessment of financial needs and will seek further independent advice about the investment as is considered appropriate. Past performance is not necessarily an indication of future performance. Returns and values may rise and fall from one period to another. Any forecast distributions are not guaranteed.

Investor information

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1300 027 636
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