Gladstone Opportunity Fund
301 Kirkwood Road,
Kirkwood, QLD 4680
The Gladstone Opportunity Fund was established to invest Project equity, alongside Cadre, to acquire a large 16.59 ha site in Kirkwood, the growth area of Gladstone, which has a development approval (DA) for up to 44,000 sqm of Gross Floor Area (GFA) of mainly Bulky Goods/Large Format Retail (LFR) space. The Fund has entered into a 50/50 Co-Investment Agreement to acquire the site and proposes to subdivide the property into 3 development super-lots.
The Fund was established to provide Investors with exposure to a well-located retail development site in Gladstone, working in conjunction with a development partner with experience in large-format retail. With the benefit of an existing development approval and attractive purchase terms, the Fund seeks to add value by amending the existing development approvals, achieving pre-leasing agreements with key tenants and subdividing the Property to allow for a staged development.
The Project required $15.0m of equity to acquire the Property and fund the costs of completing the subdivision. The Fund will contribute 50% with an equal amount of Project equity to be contributed by Cadre.
| Fund Status | Current |
| Project | 44,000 sqm of Retail GFA over three development lots |
| Fund Term | 50 months or 4.2 years (forecast) |
| Equity Raised | $7.75m |
| Investment Structure | Equity via Closed-End Unit Trust |
| Investor Return on Equity | |
| Investor Internal Rate of Return | 35.1% (forecast) |
