COMMERCIAL property investor and funds manager Arcana Capital has launched, for wholesale investors, an investment trust opportunity for the acquisition of two high-yield government-anchored A-grade commercial offices in Burnie, Tasmania.
The two office buildings, with a combined purchase price of $11.75 million, form Arcana’s Emu Bay Tas Office Unit Trust and are now available as a sophisticated investment opportunity for wholesale investors.
Colby Phillis, Manager – Investor Relations at Arcana Capital, said that the two office buildings are in a prominent back-to-back location in a key North-West Tasmania commercial hub.
“The fully-leased Burnie properties boast a strong tenant mix, with anchoring leases to the Australian Electoral Commission and the Tasmanian Government’s Department of Treasury and Finance bolstered by leases to local businesses including The Advocate news media covering West and North-West Tasmania.
“We are forecasting annualised distributions of 10% per annum for Years One and Two for participating wholesale investors.”
For more information and to register your interest please visit here.
Arcana has entered into a contract for the $6.85 million purchase of 39-41 Alexander Street, Burnie – a prominent, high-quality office building in the heart of Burnie’s administrative and commercial district. With 3,127m2 of net lettable area across three levels, this landmark building is 100% leased with an anchoring lease to the Australian Electoral Commission and supporting leases to Australian Community Media, ZAP Fitness, and Vie Financial.
Arcana has also entered into a contract for the $4.9 million purchase of 54-56 Mount Street, Burnie – an iconic two-storey office which backs onto the building at 39-41 Alexander Street. Originally built in 1916 as the home of The Advocate newspaper, this property has been completely refurbished and re-fitted to A-Grade standards in recent years, resulting in a 5.5 Star NABERS Rating. The property’s high quality refurbishment and prominent position in Burnie’s central business district has resulted in a lease to the Tasmanian State Government’s Department of Treasury and Finance for the full 1,808m2 of net lettable area.
As a combined transaction, these properties are being acquired for an attractive 10.64% net passing yield, reflecting a low capital cost of $2,338 per m2 of net lettable area.
Headed by former Premier of Queensland and Lord Mayor of Brisbane, Campbell Newman, Arcana Capital has been operating since 2015, and has successfully completed the acquisition and ongoing management of 34 properties worth over $250 million and raising over $149 million in investor equity.
In 2023, Arcana Capital added to its Australia-wide portfolio of commercial, industrial, fuel, medical, and non-discretionary retail assets with the acquisition of:
- Multi-tenanted office building at Eight Mile Plains, QLD for $13.55 million
- Multi-tenanted office building in Perth, WA for $12 million
- A government-anchored commercial office building in Phillip, ACT for $17.4 million; and
- A multi-tenanted large format retail centre in Mackay, QLD for $12.3 million.
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Disclaimer:
This information has been prepared by Arcana Capital Pty Ltd ACN 609 576 623, AFSR 1245173 as an Authorised Representative of Arcana Capital Funds Management Pty Ltd ACN 633 164 155 AFSL 518744.
The information is only for investors who qualify as wholesale clients under sections 761G of the Corporations Act 2001 (Cth) or to any other person who is not required to be given a regulated disclosure document under the Corporations Act. The Information is not investment advice. It is general information only and does not take into account the investment objectives, financial situation or particular needs of any prospective investor.
