Placer Property Annual Update 2016; Increased Distribution, NTA & Increased Funds Management to $77m

Placer Property is a specialist property fund manager whose aim is to create commercial and retail property investment opportunities for investors seeking regular and reliable income. During 2016, Placer Property had some fantastic achievements:

• The Placer Property’s Stables Property Fund is a direct property investment that owns The Stables Shopping Centre, located in Golden Grove, an established residential suburb approximately 22 km northeast of the Adelaide CBD. The Stables is anchored by Woolworths on a fifteen-year lease that commenced in April 2015, with two other lease options of ten years each. Other major tenants include BWS, HealthSense Medical Centre, Chemmart Pharmacy. Altogether, Woolworths and the major tenants account for 77% of the centre’s gross income. The weighted average lease expiry of the centre is 11 years.
• The fund aims to provide unit holders with sustainable and considerably tax deferred income with the potential for capital growth. The fund’s forecast annualised distribution yield for FY17 is 7.60%, 67% tax deferred, with a high starting net tangible asset of $0.95.