Quanta Investment Funds, the new name for the company led by Stacey Jones, the daughter of Sentinel Property Group founder Warren Ebert, has settled on a fully leased convenience centre at Yamanto, south of Ipswich.
Yamanto Village at 422-436 Warwick Road, on the south east corner of Leonard Street, cost $21.1 million, reflecting a 5.9 per cent net yield.
Next to the Glades Tavern and Amberley District State School, the asset contains 1999 square metres across several buildings, all up covering just 11pc of the 1.6 hectare block.
The complex is configured with seven specialty stores, three fast food outlets, a gym, dentist and service station.
Ampol, Anytime Fitness, Noodle Box and Subway are amongst the occupiers.
Quanta will hold the asset in its Multi-Sector Income Trust (QMSIT), an open-ended pooled fund also with three Mackay medical centres.
Colliers’ James Wilson and Steven King with JLL’s Jacob Swan, Sam Hatcher and Ned McKendry represented the vendor, Gordon Corp, which listed Yamanto Village in March with Morayfield Village, in Brisbane’s outer north, and the Gold Coast’s Burleigh Home+Life centre.
Yamanto Village is the first acquisition under the Quanta rebrand.
Developed in 2016, the property derives about a third of its income from national businesses.
The Weighted Average Lease Expiry is 8.42 years.
All rental agreements include fixed annual rises of 2.5-4pc.
Four kilometres from Ipswich, Yamanto forms part of a western Brisbane growth corridor forecast for annual population growth of 5.4pc until 2031.
“We are asset specific buyers so we consider all markets where there is opportunity to find value,” Quanta chief executive officer, Ms Jones, said (story continues below).
“We then rely on the team’s active asset management expertise to add value to these properties,” according to the executive.
“This means we purchase properties with the aim of unlocking value through our hands-on approach,” she added.
Quanta was until a bitter split last year, operating under the Sentinel umbrella.
Its c$685m portfolio includes office, industrial, health and other retail product.
The company also controls development sites.
In June, Ms Jones appointed ex-QIC and Mulpha executive, Chris Corrigan, as head of Property Investments.
New and existing unitholders bought in
To fund Yamanto Village, Quanta raised $9.9m.
“It was particularly pleasing to see that investors into the [QMSIT] trust included a mix of new and existing unitholders,” Ms Jones said.
“Whilst the Multi-Sector Income Trust is…open-ended…Quanta has offered its investors improved liquidity via a redemption opportunity scheduled within the first five years,” according to the executive.
The manager added Yamanto Village offers enhanced return potential through site configuration opportunities.
It is promising unitholders a 6.5pc annual return paid monthly.
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