Harmony Diversified Fund 1
53 Brandl Street, Eight Mile Plains QLD,
and, 10 Ultimo Place, Marsden Park NSW
Building Type / Sector: Office / Retail
Aquisition Date: March 2020 and September 2020
Purchase Price: $12.9 million and $14.07
Investor Return: Projected average of 7.4% over the first 5 years
The Harmony Diversified Fund consists of two properties across two states in the office and retail sectors.
53 Brandl Street, Eight Mile Plains, QLD was purchased in March 2020 and is a modern office building, built in 2006 and refurbished in 2014. It is currently leased to three tenants, providing a WALE of approximately 5 years at purchase.
10 Ultimo Place, Marsden Park NSW was added to the Harmony Diversified Fund in September 2020 for $14.07 million, reflecting a yield of 5.41%. The property is located in Sydney’s North West Growth Corridor and comprises a brand new dual tenancy retail showroom and warehouse building, purpose built in February 2020 for two established businesses, the property offered a WALE of approximately 10.5 years at settlement.