Australian property investment group, Quanta Investment Funds (Quanta) has announced the settlement of its acquisition of Yamanto Village, 422-436 Warwick Road, Yamanto in Ipswich, Queensland last week for $21.1 million.
The convenience retail centre is Quanta’s first property acquisition under its new banner, having undergone a rebrand earlier this year.
Yamanto Village is a fully leased, modern convenience centre constructed in 2016 with more than 65% of gross income underpinned by national brands. The centre benefits from a complementary mix of tenants including an Ampol service station, three national fast-food drive-throughs, a gym, a dentist and seven specialities. As part of the acquisition, Quanta successfully raised $9.9 million to complete the purchase.
Yamanto Village is now one of the assets in the Quanta Multi-Sector Income Trust — a $48 million open-ended pooled trust with a diversified tenancy mix (medical, fuel and retail) and eight-year WALE. It is robustly prepared for expected interest rate rises, delivers reliable cashflows and has capital growth potential through income growth and value-add initiatives.
Quanta CEO, Stacey Jones commented: “We are asset-specific buyers, so we consider all markets where there is opportunity to find value. We then rely on the team’s active asset management expertise to add value to these properties. This means we purchase properties with the aim of unlocking value through our hands-on approach.”
“It was particularly pleasing to see that investors into the Trust included a mix of new and existing unitholders. They appreciated the combination of the secure and diverse income sources, inbuilt defences to forecast interest rate rises, income and capital growth via strong fixed annual reviews and favourable value-add opportunities resulting from strategic sub-division of the site.
“While the Multi-Sector Income Trust is an open-ended trust, Quanta has offered its investors improved liquidity via a redemption opportunity scheduled within the first five years,” said Jones.
Quanta’s investment portfolio, headed by Chris Carrigan comprises assets Australia-wide across a range of sectors including office, retail, industrial, health and development sites.
