GDI Property Group to acquire 17 metropolitan Perth properties

  • Nov 14, 2019 AEDT
  • Team Kalkine

GDI Property Group (ASX: GDI) has entered in to a call option to acquire a $98.0 million portfolio of 17 metropolitan Perth properties occupied by high profile car dealerships and service centres located on major arterial roads.

  • The Portfolio is fully leased for approximately 11 years, with the tenant having 5 x 5-year options.
  • The leases have annual CPI + 1% rental increases, with market reviews in 2023 and 2028.
  • The company intends to fund the acquisition through the establishment of a new unlisted unregistered managed investment scheme, GDI No. 46 Property Trust.
  • GDI forecast to have a commencing distribution yield of 7.75% p.a, with conservative gearing of 31%.
  • The acquisition settlement to take place around 17 January 2020.
  • GDI Property is expected to launch approximately $76 million public raising for the Trust.

 

All pictures are copyright to their respective owner(s).Kalkinemedia.com does not claim ownership of any of the pictures displayed on this website unless stated otherwise. Some of the images used on this website are taken from the web and are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it below the image.

 

There is no investor left unperturbed with the ongoing trade conflicts between US-China and the devastating bushfire in Australia.

Are you wondering if the year 2020 might not have taken the right start? Dividend stocks could be the answer to that question.

As interest rates in Australia are already at record low levels, find out which dividend stocks are viewed as the most attractive investment opportunity in the current scenario in our report.

CLICK HERE FOR YOUR FREE REPORT!
   
x
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK