Natgen in WA venture

Property fund manager Natgen has expanded into WA by acquiring shopping centre Collie Central for $10m for its unlisted property trust fund, Natgen Investment Trust CO24.

The complex, about 170km south of Perth, is anchored by Woolworths and major tenants include Terry White Chemmart, Liquorland, OPSM, and a WA government office.

The centre has a weighted average lease expiry of 4.5 years and a total tenancy area of 4500sq m.

The trust raised $6.5m in equity from wholesale investors, which was combined with a $5m debt facility to fund the acquisition.

It offered a distribution of 8.5 per cent per annum over a five to six-year term, with potential for further income generation and long-term capital growth.

source: The Australian, 9th May 2024, page 9

Fund buys up on the Gold Coast

Fund manager Natgen has expanded its Gold Coast warehouse development pipeline, buying two developments in the city’s northern suburbs.

They paid $2.95m for a 4500sq m vacant two-lot site at 8-10 Naves Drive, Coomera.

The property will go into the Natgen Development Trust CM23 and when built will comprise a commercial showroom/warehouse facility. It will offer more than 18 tenancies ranging in size from 100sq m to 220sq m.

Dave Kertesz and Jacob Zhou from Crew Commercial struck the deal. It follows Natgen’s earlier investment via the Natgen Development Trust OR23 of a 3162sq m site at 23 Tillyroen Rd, Ormeau Hills, for $2.1m. Natgen plans to develop a mini-warehouse storage facility comprising 24 strata-titled units.

Natgen managing director Steven Goakes said the projects offered an attractive opportunity for investors.

“They have strong long- term locational advantages due to their proximity to increasing traffic areas, high population growth and the shortage of suitable warehouse and storage units needed for small business operators and residents,” he said.

Storage project ‘ideally located’

Brisbane property fund manager Natgen has increased its investments in the fast-growing Gold Coast self-storage market.

Natgen paid $5.5m for the 8084sq m site at 8 Ellis Way, Upper Coomera, for its latest property trust.

The development of a $32.8m high-specification, state-of-the-art self-storage building and surrounding facilities at the site includes more than 7000sq m of self- storage units incorporating an office/retail space, parking, security and landscaping.

Significantly, the site fronts the M1 Motorway and is part of the Coomera Springs Enterprise Park.

The trust will construct and operate the facility for a six to seven-year period following completion, and investors will contribute $10m.

Crew Commercial’s Dave Kertesz and Colliers’ Daniel Coburn and Jacob Griffin struck the deal on behalf of Gold Coast developers LatSod Pty Ltd, who own the total 3.12ha site. The acquisition follows Natgen’s recent investment in Gold Coast self- storage at Molendinar via the Natgen Development Trust ML23, with total assessed completed value of $22.9m and investors contributing $8m.

Natgen managing director Steven Goakes said the latest self-storage acquisition offered a significant opportunity for investors.

“The self-storage site at Upper Coomera is ideally located at the epicentre of a large demand area,” he said.

Natgen settles $4.5M land acquisition at Molendinar

• The land is set to become a self-storage facility.
• SEQ accounts for over a third of the nation’s upcoming self-storage stock.
• Demand remains elevated, driven by lifestyle changes and challenging rental conditions

Brisbane-based property fund manager, Natgen, has settled a $4.5 million land acquisition that is set to become a high-specification, state-of-the-art self-storage building.

Based in the expanding central Gold Coast area, Natgen Development Trust ML23 comprises the future self-storage building and surrounding facilities at 2 Industrial Avenue, Molendinar. It is also situated adjacent to a major arterial road – the Southport – Nerang Road.

The facility will feature over 5,250 square metres of self-storage units, incorporating an office/retail space, parking, security and landscaping.

Natgen Development Trust ML23 will construct and operate the self-storage facility for a five to seven-year period following completion, with a total assessed completed value of $22.9 million and investors contributing $8 million.

The acquisition follows the success of Natgen’s previous investment in Gold Coast self-storage at Upper Coomera, with last year’s $10 million Natgen Development Trust UC22 closing fully subscribed.

Demand for self-storage high

The self-storage sector has seen a growing level of interest, with the past twelve months seeing $132 million in sales for the sector, according to data from Ray White Commercial.

One of the drivers for demand includes the housing crisis, with experts noting the challenges of securing a rental have fueled the need for prolonged storage.

The South-East Queensland (SEQ) self-storage construction pipeline is also the strongest in the country, with Ray White finding the region accounts for 36% of the nation’s upcoming stock.

Natgen Managing Director & Responsible Manager, Steven Goakes said the SEQ self-storage market offered an attractive opportunity for investors.

“Self-storage is a growth industry in Australia due to the rise of e-commerce, shrinking living spaces and sustained population growth, particularly in South-East Queensland,” Goakes said.

“The Molendinar facility’s central Gold Coast location and the strong demand factors have given us confidence in the facility’s long-term performance and our ability to maximise returns for our investors, with this type of asset also acting as a hedge against inflation.”

The Gold Coast is expected to hit one million residents by 2041, with other drivers of local sector strength including the upcoming 2032 Olympics.

According to the Urbis Self-Storage Index, self-storage occupancy rates have risen to 94.4% in outer Brisbane as of December 2021.

Revenues for the self-storage sector have surged to $1.5 billion, with annual growth of 4.4% from 2022 to 2027; the lack of feasible substitutes further supports the industry’s performance, according to IBISWorld. This has led to strong market valuations and capitalisation rates for high quality self-storage facilities, with the industry attracting increasing investor interest.

“Natgen has a strong focus on well considered, risk-managed investments that offer regular monthly income, an inflation hedge, low volatility and growth potential,” Goakes added.

“This latest acquisition provides further diversification for our investors and we look forward to completing this exciting development.”

Natgen in $4.5m purchase

Brisbane property fund manager Natgen has bought a Gold Coast self-storage site for $4.5m for its latest property trust. The fund manager’s Natgen Development Trust ML23, will develop a high specification, state-of-the-art self-storage building and facility at 2 Industrial Ave, Molendinar. On a 4,520 sq m site, the building will house more than 5,250 sq m of self-storage units, with an office/retail space, parking, security and landscaping. The acquisition follows its previous investment in Gold Coast self-storage at Upper Coomera, with last year’s $10m Natgen Development Trust UC22 closing fully subscribed.

Fund ramps up exposure to growing self-storage sector

Brisbane-based property fund manager Natgen has further diversified into the fast-growing Gold Coast self-storage market, with the settlement of the $4.5m land acquisition for its latest property trust.

The fund manager, through its Natgen Development Trust ML23, will develop a high specification, state-of-the-art self storage building and surrounding facilities at 2 Industrial Ave, Molendinar. On a 4520sq m site the building will house more than 5250sq m of self-storage units, incorporating an office/retail space, parking, security and landscaping.

The acquisition follows the success of its previous investment in Gold Coast self-storage at Upper Coomera, with last year’s $10m Natgen Development Trust UC22 closing fully subscribed.

Natgen managing director and responsible manager Steven Goakes said the South East Queensland self-storage market offered an attractive opportunity for investors, based on its strong economic fundamentals. “Self-storage is a growth industry in Australia due to the rise of e-commerce, shrinking living spaces and sustained population growth, particularly in South East Queensland,” he said.

“The Molendinar facility’s central Gold Coast location and the strong demand factors have given us confidence in the facility’s long-term performance and our ability to maximise returns for our investors, with this type of asset also acting as a hedge against inflation.”

The trust will build and operate the facility for a five to seven-year period following completion, with total assessed completed value of $22.9m and investors contributing $8m. It offers investors a targeted distribution of 8.46 per cent in the first year of operation, rising to 8.62 per cent in year two.

Mr Goakes said Natgen was focused on risk-managed investments that offered regular monthly income, an inflation hedge, low volatility and growth. “This acquisition provides further diversification for our investors and we look forward to completing this exciting development,” he said.

Brisbane-based property fund manager Natgen has acquired a Herbert Street building for $9.28 million

The building currently houses five Queensland Government departments with a total 2,026 square metres, with a weighted average lease expiry of approximately six years.

A total of 95 per cent of income for the building comes from Queensland Government and Australian Government leases.

The trust fully subscribed under its unlisted property fund Natgen Investment Trust GL22 after attracting strong demand from property investors.

Natgen Managing Director Responsible Manager, Steven Goakes said the positioning of the building within dynamic region with renewable energy prospects, together with the predominantly government tenants, made it an attractive asset for a Natgen investment trust.

“The industrial strength of the region and large scale investment in renewables within the region place this asset well within the Natgen portfolio,” he said.

“The five-star NABERS energy efficiency rating of the building is central to the continuing attractiveness of the building for government tenants.

“Natgen has plans to improve the building over time to build upon its sustainability credentials.

“In fact, both state and federal governments have internal mandates requiring buildings which they occupy to hold high energy efficiency ratings. With the push to early carbon-neutrality, these requirements will grow in importance.”

Mr Goakes said the terms of lease will remain the same.

The latest property trust launched by Natgen adds to its previous funds which contain assets in Goodna, Toowoomba, Upper Coomera, Inverell and Gold Coast.

Natgen has executed a broad range of investment and development projects across a range of sectors, including commercial, retail, industrial and residential property.

Fund snares green government tenanted Gladstone office asset

BRISBANE based property fund manager Natgen has expanded its regional portfolio, buying a government tenanted office building near the heart of the Gladstone CBD. They paid $9.28m for the building at 20-22 Herbert St (pictured) through their latest unlisted property trust fund, Natgen Investment Trust GL22. The building houses five Queensland government departments and has a total tenancy area of 2026sq m, with a weighted average lease expiry of about six years.

Natgen managing director & responsible manager Steven Goakes said the building being in a “dynamic region”, together with the predominantly government tenants, made it an attractive asset.
“The industrial strength of the region and large scale investment in renewables place this asset well within the Natgen portfolio,” he said. “Also, the 5-star NABERS energy efficiency rating of the building is central to its continuing attractiveness for government tenants.” Natgen Investment Trust GL22 closed fully subscribed. It offers investors an initial distribution of 7.52 per cent a year over a five to six-year term.

Natgen Seeds Fund with Inverell Mall

Brisbane based fund manager National & General Group, or Natgen, will seed its first interstate trust with a regional New South Wales centre acquired for $11.305 million earlier this year.

Central Plaza, covering 23 Lawrence Street and 101-121 Byron, at Inverell, about 80 kilometres south of the border, was offloaded by a syndicate at a 6.75 per cent capitalisation rate.

With 5365 square metres, anchored to Supa IGA, it includes 15 specialty stores, some occupied by medical and education groups; the Weighted Average Lease Expiry is 2.9 years.

The 6048 sqm site contains 112 car parks.

Inverell’s economy contributes about $26.8 billion per year – about 10pc of the shire’s output; Gross Domestic Product has grown 3pc annually since 2015, Natgen managing director, Steven Goakes, said.

The Inverell Shire Council is recognised for its economic diversity – with established agriculture, education, manufacturing and mining sectors – but no one industry accounting for more than 20pc of employment, he added.

Boss Engineering, Bindaree Food Group and the Inverell Regional Livestock Exchange are amongst the precinct’s biggest businesses.

Single-asset fund closed oversubscribed

Central Plaza will be held by the Natgen Investment Trust IR22, which closed oversubscribed earlier this year (story continues below).

The manager intends to own between five and six years, during which time it aims to distribute unitholders 8.5pc, per annum.

Natgen controls three funds, all of which are single-asset backed:

• Natgen Investment Trust GD21, with the Rededge Shopping Centre in Goodna, south west of Brisbane, acquired for $10.1m last November;
• Natgen Investment Trust KT21, also holding a convenience retail and medical centre, but worth $6m, in Kingsthorpe, west of Toowoomba, and the
• Natgen Development Trust UC19, which owns a $5.25m office/warehouse at Upper Coomera, a north Gold Coast suburb.

“The COVID-19 pandemic has reinvigorated interest in strong regional economies, with population growth expected to increase in these areas,” Mr Goakes said.

“As a significant shopping centre with a stable retail mix, Central Plaza Inverell contributes to the town’s position as a retail and services hub, with the area’s prosperity underpinning its growth prospects,” he added.

Melbourne based Leiba Commercial’s Mark Leiba and Jonathan Rosenthal brokered the Central Plaza sale.

Ray White Inverell’s Ron Berkeley has been retained as centre manager.

As seen in the Realestate Source

Purchase of Plaza in new chapter for town

INVERELL’s Central Plaza is ready for the next chapter in its long-standing history in the Sapphire City, proving popular with not just local investors, but investors right across Australia.

Popularity which has enabled interstate property trust, Natgen, to complete their purchase of the building. This move is also a historic one for Brisbane-based property fund manager, as it marks their first successful interstate expansion.

The Central Plaza was purchased for $11.3 million and will be a part of its latest unlisted property trust fund, Natgen Investment Trust IR22. Ron Berkley at Ray White Inverell has been retained to ensure continuity of the centre management. It’s the company’s fourth property trust, closing closing fully subscribed after attracting strong demand from property investors.

Natgen told the Times that the property proved so popular, it actually was over subscribed with interest occur-ring right across the country. It offered investors a targeted distribution of 8.5 percent per annum over a five to six-year term. Natgen Managing Director and Responsible Manager, Steven Goakes said the shop-ping centre’s position with in a diverse regional economy made it an attractive investment.

“The COVID-19 pandemic has reinvigorated interest in strong regional economies, with population growth expected to increase in these areas,” he said. “As a significant shopping centre with a stable retail mix, Central Plaza Inverell contributes to the town’s position as a retail and services hub, with the area’s prosperity underpinning its growth prospects.”

Natgen has committed to spending locally wherever possible, and has joined the Inverell business chamber and met with council as part of its stakeholder engagement.  The investment fund opened in February, the minimum investment amount set at $100,000.  Mr Goakes said Inverell had all the elements the company looked for in an in-vestment that would provide a steady income. 

Among key local Inverell businesses are Boss Engineering, Bindaree Food Group and Inverell Regional Livestock Exchange, while Central Plaza Inverell hosts tenants such as Regional Australia Bank, Lyon Legal, Pathology NSW and Vital Health, together with the anchor tenant of Richies Supa IGA Inverell and other businesses. “This latest acquisition ticks all these boxes and we are delighted to have secured this property for the benefit of our investors. “The retention of the CBD was a plus for the town, Mr Goakes said.

As seen in The Inverell Times