Castlerock Government Property Fund
Invest in a growing portfolio of high-quality government leased assets.
Established in 2014, the Castlerock Government Property Fund, is an unlisted fund that’s strategically focused on owning and developing assets leased by State and Federal Governments. It provides stable income distributions, with the potential for long-term capital growth, demonstrating the strength of Castlerock's Government-centric investment strategy.
Key Features
- Attractive distribution yield with tax advantages
- Rental income underpinned by the Commonwealth and State Government
- Quality, highly specified, environmentally sustainable assets
- Property Location diversification throughout Australia
* Past performance is not a reliable indicator of future performance. The distribution rate specified is a projection only and is subject to an number of assumptions and its achievement is not promised or guaranteed. Actual returns may differ materially from the projection. Distributions will be paid if declared by the responsible entity and are subject to the responsible entity's discretion. The payment of distributions on a quarterly basis (or at all) is not promised or guaranteed. Information provided is as at 1st March 2024.
The strategy of the Fund is to purchase and/or develop a portfolio of Commonwealth and State Government-leased assets with the objective of providing stable income distributions, and the potential for capital growth.
The Fund currently owns 14 government-leased assets located throughout Australia valued at $590m, and will expand on this portfolio with further acquisitions and developments when opportunities arise.
1 Current valuation as at 31 December 2023 of the 13 existing assets on an 'as-is' basis, except Frankston which is based on an 'as-if-complete' basis as it is under development.
2 The WALE by area is calculated as at 1 March 2024 and includes Frankston which is under development.
3 Includes all 13 assets as at 1 March 2024, excluding Frankston (which is currently under development).
Click here for information on the Property Portfolio.
Annual limited withdrawal offers - To be offered in February each year. Capped at 2.5% of NAV
5-year periodic exit opportunity - Full redemption available every 5 years commencing February 2026
Suggested investment period - Long-term 5-10 years
This information has been prepared by Castlerock Investment Management Limited ACN 125 737 091 AFSL 318368 (CFM) for information purposes only and does not take into account your individual objectives, financial situation or needs. This website is not an offer to sell or a recommendation to purchase units in the Trust. Before investing you should read the Information Memorandum in full and consider you own objectives, financial situation and needs including obtaining independent financial, taxation and legal advice before making any decision about whether to acquire units in the Trust.
Castlerock has established itself as a respected investment manager with over two decades of experience in managing Government-leased assets throughout Australia.
Castlerock's deep understanding and solid reputation in the Government real estate sector is showcased by its proficient completion of 33 development projects for both Commonwealth and State Governments across Australia, as well as its current management of over 96,000m2 of Government-leased property, valued at over $670m.
A key aspect of Castlerock's success is its ability to forge robust relationships with government stakeholders at both the State and Commonwealth levels. This collaborative approach enables Castlerock to align closely with the specific needs of its clients, including achieving sustainability targets like NABERS and Green Star accreditations, designing buildings and office spaces that cater to
the unique requirements of government tenants and the communities they serve, and delivering value through an all-encompassing approach that spans planning, design, delivery, fit-out, and ongoing maintenance.
A key aspect to Castlerock's success is its unique position as a full circle property fund manager, offering a wide range of in-house services:
- Development, Design, and Construction management
- Asset, Property and Facilities management
- Fund management and administration
- Transaction management
We are dedicated to enhancing property performance throughout the entire lifecycle, ensuring each property reaches its full potential. Our proactive management approach, coupled with strategic insights, not only achieves high tenant satisfaction but also leads to exceptional tenant retention rates.
Hank has been successfully providing property development and asset management services in the government sector space since 1990. During his career, Hank has delivered and managed more than 30 buildings, advising on equity and debt finance, project feasibility, site selection, planning, design, construction and asset management.
Adam is responsible for all aspects of business development at Castlerock and has been with the company for more than 14 years. Adam has overseen the development of all projects since 2007 and is in charge of stakeholder liaison. He ensures projects not only meet budget through design development but also meet the high expectation of future tenants.
Jason brings experience in funds management, property development and property finance, having worked for Macquarie Bank in Sydney, KordaMentha in Melbourne, Legal & General Investment Management in London and more recently with Castlerock. Jason holds bachelor’s degrees in Commerce and Engineering
Aaron joined Castlerock in 2009 and brings a proven track record of delivering successful projects for nearly two decades. Aaron holds a Bachelor of Civil Engineering, a Bachelor of Science and several other qualifications. In his role Aaron provides leadership to Castlerock’s design, procurement, construction and facility management teams.
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The issuer of this product is identified at the top of this page. The PDS and target market determination for the product are available in the Documents section of this listing. Prospective investors should consider the PDS before deciding to acquire the product. This product listing was vetted by and approved by the product issuer identified above before publishing. Investment Markets (Aust) Pty Ltd AFSL 527875 (IM) is not the issuer of the product.
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