Solid returns for St Hilliers Fund No 1

THE closed ended and unlisted St Hilliers Enhanced Property Fund has been wound up, and has returned investors 17.5% per annum.

This exceeds its original target of 15% per annum after performance fees and expenses resulting in an equity multiplier of approximately 43%.

The fund, a risk-adjusted closed-end vehicle, managed five property investments in Sydney, Melbourne and Canberra valued in excess of $65 million.

The portfolio included an industrial property in Taren Point, New South Wales; a commercial property on Northbourne Avenue, Dickson, ACT; a warehouse industrial property on Sussex Street, Coburg, VIC as well as two subdivided sites on Huntingdale Road, Burwood, VIC and Wells Street in Southbank, VIC.

The fund was closed in December 2004 and is being wound-up following the sale of the final two properties in January 2008.

The individual properties achieved returns from 12% to 44%.

St Hilliers Funds Management’s general manager Nicholas Ridgwell said the final return to investors demonstrated how its value adding approach delivered superior results for wholesale investors.

“We created a quality deal flow of development and value add opportunities for the Fund and successfully managed sales to suit market windows culminating in an enhanced return to investors,” Ridgwell said. “Since launching this fund in mid 2004, we have introduced two more funds (Fund No.2 and Fund No.3) with capital raising for Fund No. 4 currently underway,”

“This latest fund will be a development to core fund and marks the next phase in the expansion of our funds management platform,” he concluded.

Australian Property Journal