Melbourne Property Syndicate
This syndicate features a modern, fully-leased industrial complex located in Braeside, approximately 23 kilometres south east of the Melbourne CBD.
ARSN 101 809 269
Responsible Entity APGF Management Limited
ACN 090 257 480 AFSL No. 229287
- Financial Statistics as at 30 September 2011
- Net Tangible Assets per unit (NTA) $0.87 (unaudited)
- NTA as at 30 June 2011: $0.91 (audited)
- NTA as at 30 June 2010: $1.17 (audited)
- Approximate Value: $11,000,000
- The NTA does not represent the return an investor will receive on final settlement as it does not consider future performance, distributions, disposal costs or achieved sales price. The NTA should be used as a guide only and is calculated using the latest valuation
1 December 2011
The first return of capital has been paid and statements mailed to investors. Investors will be advised in due course regarding the final return of capital payment due in the first half of 2012.
21 November 2011
We are pleased to report the property settled for $11,000,000 on 18 November 2011.
A breakdown of the sale proceeds will be provided within two weeks of settlement at the time the first return of capital is paid, which will represent approximately 85-90% of the total return to investors. A second and final return of capital will be paid to investors once the Fund is in its final stages of wind up and all wind up costs have been paid or determined.
21 September 2011
Further to our update below, the purchasers due diligence period concluded on 19 September 2011 and executed contracts for the total sale price of $11,000,000 were delivered to our solicitors on that date. A 5% deposit has been received and invested in an interest bearing account pending settlement which is due Friday, 18 November 2011.
The expression of interest allowed for the purchaser to divide the contract into two interdependent contracts. 91-99 Woodlands Drive is being sold for $4.1 million and 99-105 Woodlands Drive is being sold for $6.9 million. The total sale price is $11,000,000. 91-99 Woodlands Drive is being purchased by the Owner of Flavour Makers, the tenant currently leasing this space.
The Fund will shortly enter its wind up phase and as such there will be no Investors' Report prepared for June 2011. We will continue to keep investors informed through our website and by letter on the sale of the property.
25 August 2011
The property was recently marketed for sale and a Heads of Agreement has been signed with the purchaser undertaking a 45 day exclusive due diligence period. Settlement is likely to occur in November 2011.