Boutique Brisbane investment manager leverages global property expertise launching specialist wholesale multi-asset fund

By Stronghold

November 20 2019
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Promoted by Stronghold.

The Stronghold Precincts Property Fund (SPPF) will launch on December 1 and has already proved popular with existing & new investors, achieving its minimum raise target in November.

The Fund will commence with two buildings (primarily leased to Johnson & Johnson Medical & Mazda Australia) in the Brisbane Technology Park in Eight Mile Plains, acquired for a combined $25 million, and will continue to strategically acquire commercial properties located in business precincts within non-CBD areas of SEQ initially, before venturing to other major Australian cities as the fund matures.

As the Fund continues to grow, all acquisitions and divestments will be overseen by the majority independent investment committee comprising Philip Willington and Steven Leigh (Independents); together with Stronghold’s Head of Funds Management, Bruce Anderson.

Philip Willington, as a highly regarded former Director of Knight Frank Valuations Queensland, brings extensive property valuation, advisory and industry knowledge to the committee.

Steven Leigh, most notably the former Managing Director QIC Global Real Estate was responsible for the group’s $20bn plus property portfolio, brings significant Wholesale Funds Management, acquisition and development experience across various global markets to the committee.

With the support and guidance of Mr Leigh and Mr Willington's expertise and knowledge, Stronghold will identify and acquire investment opportunities in non-CBD commercial precincts to create a pool of multi-tenanted assets close to transport links and amenities.

Since opening for investment applications, Bruce Anderson (Stronghold's Head of Funds Management) reports a combination of existing and new investors, including self-managed super funds had provided immediate and substantial support for the new Stronghold Precincts Property Fund.

“The Fund will go live from the 1st December, with investors allocated units as at the 30th November, and distributions paid from December."

Mr Anderson and the Stronghold team are looking forward to a busy 2020, presently working with the investment committee to finalise due diligence on two acquisitions before Christmas, which will be positive to existing investors.

Stronghold has a track record of delivering stable yields and strong returns to investors. It currently pays average cash returns of 8.5 per cent on its existing 10 close-ended funds holding a combined $200 million worth of hospitality and business park assets in Melbourne, Sydney, Brisbane and regional Queensland.

Mr Anderson said the SPPF would aim to deliver sustainable annual distributions of around 7 per cent p.a. but with greater levels of diversification and liquidity to previous close end options. The fund is targeting upwards of $200 million in assets under management over the coming years.

The new precinct fund is open to wholesale investors with a minimum amount of $25,000.

To learn more about the Stronghold Precincts Property Fund visit www.sppfinvest.com.au’

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