Announcing Wingate's first investment offering through our Joint Venture capital partnership with Shore Financial, Queen Street Village.
Queen Street Village is a recently completed and high quality mixed-use sub regional shopping centre providing core underlying fundamentals and a prime Gold Coast location.
The 13,071sqm centre is anchored by key tenants Jones IGA, Dendy Cinemas, EMF Fitness Centre & Secure Parking.
The investment offers strong defensive characteristics via a 7.8% passing yield at acquisition, a 10-year WALE by area through 42 tenants and 100% income coverage for the initial 2 years.
Forecast Returns to our co-investors:
Distributions commencing at 7% p.a.
Target EIRR band of 13-16% p.a.
Capital Raising is expected to close next week with over 90% of commitments already allocated.
Contact the Wingate team should you require further information.