Last chance to invest in lucrative property trust
PROPERTY fund manager Clarence Property will close its current offer of investment in its flagship Westlawn Property Trust at the end of June, after receiving the majority of the $10 million in new capital raised from investors in northern New South Wales.
WPT, which was established in Grafton in 1994 and last year delivered an 18.6-per cent return to investors, has continued to receive strong support from Ballina, Grafton, Yamba and Maclean locals who have tipped about $5 million into the fund in recent months.
The Trust has more than $250 million in assets from Yamba to the Sunshine Coast, including the Yamba Fair and Byron Fair shopping centres and the 480-lot Epiq community at Lennox Head.
The fund provides investors the opportunity to tap into successful developments and assets like Epiq Lennox Head which sold out each of its initial three stages within a week.
Clarence Property managing director Peter Fahey said WPT continued to have a strong presence in northern NSW.
"When we launch a new round of capital raising we always go back to our roots and look after the people who stood behind Clarence Property in its early days," Mr Fahey said.
"The fund has a history of solid performance and has not failed to pay a monthly distribution to investors in its 24 years, so we have a reputation for reliability and a number of investors who have been with us since inception."
Maclean local John McConnell is one of WPT's foundation investors.
Mr McConnell, who is a long term owner of LJ Hooker Maclean, said he had remained an investor for 24 years because of Clarence Property's commitment to delivering consistent and reliable returns using sound investment strategies.
"I was one of the first investors in the trust, which was started by a group of families in Grafton, who were working together to generate better income from high yielding assets," Mr McConnell said.
"This means the board and directors invest people's money like it is their own - because it is. The people who steer the fund have skin in the game, so they have a mutual interest in ensuring the fund delivers real results.
"It's not like many other funds and trusts which are managed by people who are removed from their investor base and may not even live or work in the regions they are investing in. I have recommended WPT to family and friends because I have such great confidence in the leadership team."
Mr McConnell said he believed the key to WPT's consistent returns - delivering an average of 13.6 per cent over the lifetime of the trust - was maintaining a conservative loan to value ratio (LVR).
"The trust generally maintains close to a 50 per cent LVR and it does not over-borrow to acquire new assets," he said.
"The fact that the trust currently has a forecast distribution of eight per cent is testament that this sensible borrowing strategy is working.
"After 24 years, I will continue to invest with WPT because I believe the Trust has a strong base for growth, with key development projects starting this year, on the back of several new acquisitions of blue chip commercial retail and commercial property in Brisbane."
WHEN: Wednesday June 20 and 27
WHERE: Clarence Property Office 2/75 Tamar Street, Ballina
RSVP: invest@clarence property.com.au or 1300 853 069
More information: www. clarenceproperty.com.au