Press Releases

02-09-2006

Trust in the Future

Reed Funds Management Limited (RFML), a division of Reed Property Group, has increased the assets of its unlisted Reed Property Trust with the purchase of a $28 million printing and publishing facility on Queensland’s Sunshine Coast.

The acquisition takes the Trust’s income-bearing assets to almost $100 million as part of a steady growth plan since being launched in September 2005.

Construction of the high-tech, industrial warehouse, office and specialist printing and publishing areas is expected to be completed early this month and will be occupied by APN Printing Services Pty Ltd, a wholly owned subsidiary of the ASX and NZSX listed APN News and Media Limited.

The sale-and-leaseback was undertaken by Grant Samuel Property through a highly competitive tender process. The triple-net lease will have an initial term of 20 years with two 10 year options.

Grant Samuel Property also development managed the delivery of the facility on behalf of APN. The facility is designed to consolidate APN’s Sunshine Coast and Ipswich, printing facilities and accommodate the forecast growth in the south-east Queensland region.

APN is one of the largest and fastest growing media companies in Australasia. The company operates a broad portfolio of businesses including publishing, radio outdoor and online, across five countries including Australia and NewZealand.

More than 17 newspapers and publications are to be produced at the site and include publications such as the Sunshine Coast Daily, Queensland Times, Gold Coast Mail, Noosa News, Caboolture News and Tweed Border Mail.

Acquisition of the 9,311 square metre building represents Reed Property Trust’s second major purchase this year after exchanging contracts to acquire an A-grade office block on the Gold Coast called ‘Silver @ The Exchange’ for $23 million in July.

RFML is a wholly owned division of Reed Property Group, a family owned company, based on the Sunshine Coast, with a solid 20 year performance in construction, development, hospitality, childcare and charitable endeavours.

All up, the diversified Trust has $93 million worth of direct property assets including Sunshine Coast retail centres, Chancellor Village Homemaker Centre, Chancellor Village Convenience Centre and Noosa Gateway.

Speaking about the new addition to its portfolio of Queensland based properties, RFML Director, Tory Richards said that the acquisition provided a stable income for the Trust with APN Printing Services taking out a 20 year lease term.

“The Trust is continuing its steady growth and this acquisition is part of a long term strategy that is aimed at maintaining a very stable, superior income stream with attractive tax advantages for investors,” Ms Richards said.

“This quality asset introduces effective sectoral and geographical diversification into the Trust’s investment portfolio and delivers 100% tax deferred benefits on income paid to investors for the forecast period.”

The Reed Property Trust is open for investment. To request a copy of our Product Disclosure Statement for the Trust, please call toll free 1800 882 585, email info@reedfunds.com.au or visit www.reedproperty.com.au

Disclaimer:
This is not an offer of investment in the Trust, nor a recommendation to invest. To take advantage of this investment opportunity, please contact Reed Securities Pty Ltd (the Distributor) to be sent the Product Disclosure Statement or to attend one of our free information sessions. Tory Richards, Director Reed Funds Management, would also be very pleased to discuss further details as required. *Full details of the initial expected distributions, including the assumption on which they are based and the risks associated with an investment in the Trust, will be set out in the PDS.

Return to Press Release Archive

top of page

Quick Links