The Miles Property Syndicate

This aging refrigerated transport depot was located in the heart of the Kewdale industrial area and when purchased was nearing the end of its useful life.  Having only a short term lease in place, the site was essentially purchased for land value in May 2009. Whilst a good return was enjoyed during the term, a decision by the tenant to have a new, purpose built facility constructed for them lead the syndicate members to sell the property in April 2013.

Investment Highlights
Purchase Price
$8,000,000
Building Area
7,113 sqm
Equity Raised
$3,500,000
Average Distribution
11.0%
Internal Rate of Return
17.06%
Syndicate Length
4 years