OwnerGDI No. 46 Property Trust
Fund EstablishedEarly 2020
SectorRetail

Property Overview

GDI No. 46 Property Trust was established following the successful acquisition of a $98.0 million portfolio of 171 metropolitan Perth properties (the ‘Portfolio’) occupied by high profile car dealerships and service centres located on major arterial roads.

The Portfolio is fully leased for a remaining term of approximately 11 years, with the tenant² having 5 x 5-year options. The leases have annual CPI³ + 1% rental increases, with market reviews³ in 2023 and 2028.

The portfolio has a total NLA of 95,779 sqm located in five different suburban locations of Perth; Morley, Maddington, Midland, Melville and Wanneroo. The Portfolio offers investors the potential of an attractive distribution yield with capital gain potential from increased rents, tighter capitalisation rates and/or alternate underlying land uses.

  1. GDI acquired 19 properties, with two properties to be amalgamated.
  2. The tenant is either Buick Holdings Pty Limited (Buick), or wholly owned subsidiaries of Buick. Buick is owned 67% by IDOM Automotive Group Pty Limited, a wholly owned subsidiary of IDOM Inc, an entity listed on the Tokyo Stock Exchange, and 33% by entities associated with the DiVirgilio family.
  3. CPI is Perth Capital City CPI and the market reviews have a 10% cap and 5% collar.

Location