The property was sold to a developer in December 2015. Investors received a distribution of 8.0% pa over the life of the syndicate, together with an increase in investor equity from $1.00 per unit to $1.58 per unit.
Palace Cinema, 292 & 274A Rundle Street, Adelaide, SA
Building/Sector Type: Commercial
Acquisition Date: May 2007
Purchase Price: $3.6 million
Sale date: December 2015
Sale price: $5.5 million