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Press Releases
17-08-2005
Reed Property Group launches property trust
Reed Funds Management Limited (RFML), a division of Sunshine Coast based Reed Property Group, has announced an upcoming opportunity to invest in the Reed Property Trust.
RFML will launch the Trust on 1 September 2005 and issue a product disclosure statement (PDS) for this investment opportunity.
The Trust will aim to deliver an initial yield of 8.5% per annum (before tax) to its investors* and will have a closing date of 1 November 2005.
Investors can also expect to enjoy taxation advantages, with the Trust’s quarterly distributions expected to be in excess of 90% tax-deferred until 30 June 2007.
The Trust is an unlisted unit trust that will primarily invest in a range of income earning property-based assets, consisting of direct property, listed and unlisted property trusts and property syndicates.
RFML Chairman, Ken Reed, said the Trust has set clear investment objectives and aims to strive for stable, attractive returns over the longer term.
“The Trust will invest in assets aimed at providing investors with regular tax-deferred income and prospects of capital growth,” Mr Reed said.
“We are committed to maintaining the real value of the Trust’s investments. Simultaneously, our aim is to continue expanding the portfolio’s diversity and income base.”
“As we acquire additional properties, the Trust’s sector and geographic spreads, lease profile and tenancy mix will continue to be enhanced,” he said.
The Trust has acquired three retail properties, which will have a combined total value of $35.5 million. The properties are currently being developed by Reed Property Group.
These retail centres will feature a desirable spread of tenants and are all situated within the strong economic growth corridor of the Sunshine Coast.
Superannuation funds may also invest in the Trust**.
RFML intends that the Trust will offer additional investment opportunities in the future, each time suitable assets are identified for acquisition. However, it is expected each future offer will be open for a limited period of time.
The PDS will be available when the Trust is launched on 1 September 2005, and you can register your interest in obtaining a copy by contacting the distributor, Reed Securities Ltd, on 1800 882 585 or email info@reedfunds.com.au.
*Full details of the investment offer (including the information and assumptions upon which expected distributions have been based) will be contained in the PDS. It is important you read and consider the PDS in full, before deciding whether to acquire, or continue to hold, any investment in the Trust. It is also important you consider whether or not an investment in the Trust is appropriate for you.
**Subject to their own constitutions and investment criteria.
- ends -
For more information:
Tory Richards
Director
Reed Funds Management Ltd
Toll Free: 1800 882 585
Ph: (07) 5479 4444
Mob: 0419 537 500
Email: trichards@reedproperty.com.au
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