601 Coronation Drive Fund (the Fund) is a registered managed investment scheme that has acquired a commercial office located at 601 Coronation Drive, Toowong, QLD.
The property is a modern, six storey commercial office building comprising ground level and five upper levels of A-Grade style office accommodation, and three basement levels of car parking.
Constructed in 2007, the property provides large efficient floor plates of approximately 1,282m2 and enjoys an abundance of natural light and picturesque views over the Brisbane River and towards the Brisbane CBD. The property also enjoys excellent access to Brisbane’s public transport network, with bus, train and ferry services all within short walking distance. Notably, the Toowong train station is located directly behind the property.
Toowong is a vibrant commercial and retail hub that provides extensive transport amenity. Toowong Village Shopping Centre adjoins the property and is serviced by 1,709 car spaces. This sub-regional shopping centre provides tenants of the property with a large number of retail outlets, including David Jones, Kmart, Coles and over 50 specialty outlets.
The responsible entity has appointed Capital Property Funds Pty Limited (the Fund Manager) as the fund manager under an investment management agreement which delegates the day-to-day investment management of the Fund to the Fund Manager.
The Fund’s objective is to:
- Provide investors with a regular and stable income return underpinned by rental income from a mix of tenants;
- Provide investors with the potential for capital growth upon disposal of the property; and
- Provide a fixed term investment with a clearly defined exit strategy.
The Fund’s investment strategy is to:
- Maintain the property’s rental income;
- Maximise returns for the Fund during its term and upon the disposal of the property;
- Maintain and enhance the leasing profile of the property through the implementation of a proactive leasing strategy;
- Implement a capital works program to improve the NABERS rating (currently 4 stars) and the general efficiency of the property; and
- Ensure the property remains a high quality office building capable of attracting and retaining high quality tenants.
1 In accordance with our Continuous Disclosure Policy we have removed announcements dated 26/8/2016, 4/2/2017 and 15/6/2017 as they are no longer relevant to the decision to invest or continue to hold units in the Fund. If you would like copies of these announcements please contact us.