Two New Additions to Harmony Stones Corner Fund

HPI are pleased to announce two recent acquisitions which have been included within the Harmony Stones Corner Fund.

67 Proximity Drive, Sunshine West (VIC) was purchased for $5,424,594 in an off-market transaction brokered by Scott Braithwaite of Knight Frank, at a yield of 4.95%. Comprising 2,788 sqm of industrial space divided into two separate office/warehouse tenancies, the property is fully leased to Franklin Electric (Australia) Pty Ltd for 7 years from August 2021.

41 Courtney Place, Wattle Grove (WA) was purchased in an off-market transaction for $4,000,000, brokered by Nick Goodridge of JLL, at a yield of 5.00%. The property comprises a recently completed office warehouse of 1,800 sqm, contained within a 3,578 sqm site and is fully leased to Triple M Holdings Pty Ltd for 5 years from March 2021.

Following these two acquisitions in November 2021, the total value of the Harmony Stones Corner Fund has increased to $23,324,594, comprising six tenants across three states. The targeted combined Fund Value of $30 million enables a further complementary property to be purchased for a price in the order of $6.5 million.