CONSTRUCTION COMPLETE – LET UP PHASE COMMENCED
Exclusive Queensland Development
37.1%*
Upper Coomera
- High-density population location
- Positive market factors
- High visibility site
- Self storage development
- 6 - 7 years investment term
- $500,000 minimum investment
*Subject to confirmation in the Information Memorandum
CONSTRUCTION COMPLETE – LET UP PHASE COMMENCED
37.1%*
Upper Coomera
*Subject to confirmation in the Information Memorandum
- Residential population growth
- Positive market factors
- High visibility site
- Self storage development
- 6 - 7 years investment term
- $500,000 minimum investment
Natgen Development Trust ML23
Location
Molendinar, Qld
Property Location
2A Industrial Avenue, Molendinar, is positioned on a major arterial route within the rapidly expanding northern Gold Coast growth corridor.
$33,300,000
Completion Value
Development Project
A 4 level self storage facility which consists of a high-specification state-of-the-art self-storage building and surrounding facilities. The building will house excess of 6,500m2 of self storage units.
+ 30%*
Unit Price Growth
Unit Price
*As at June 2025, the unit price has been independently revalued from $1.00 to $1.30 representing a 30% increase since inception, compared to the original Information Memorandum (IM) forecast of 16.4%.
Trust Overview
Construction is now complete of the large-scale self-storage facility. ML23 is in a prime location with direct exposure to Southport–Nerang Road, a major arterial route, proximity to the Southport CBD and surrounding residential catchments, together with strong underlying population growth and business density across the broader region.
Natgen Development Trust ML23 was established in 2023 to acquire, develop and operate a premium self storage facility within the central Gold Coast industrial precinct of Molendinar, Queensland. The Trust followed Natgen’s established development strategy of delivering institutional grade self storage assets in high growth urban markets, with a focus on capital optimisation and long term income resilience.
The investment strategy is to deliver strong capital growth and income returns to investors, with a planned exit via trade sale to private equity or an owner-operator.
Performance
With development now complete, the Trustee has refinanced the construction debt, transitioning to an operating-phase debt facility.
As part of this process an independent valuation (as at practical completion) was completed, indicating a significant uplift in the asset value – and therefore the value of units in the Trust.
As of June 2025, the unit price has been revalued from $1.00 to $1.30 per unit, representing a 30% increase since inception. This compares favourably to the original Information Memorandum forecast of 16.4% for the corresponding stage of the project.
With the facility operational since October 2025 and continuing through the let up phase, the Trust commenced monthly distributions in January 2026.
Once occupancy reaches a stabilised level of approximately 90%, the Trust is forecast to distribute 8.4%+ p.a., paid monthly.
Outlook
The self-storage facility opened in late October 2025 with occupancy growing favourably compare with the budgeted trajectory.
Long term fundamentals for self-storage continue to be favourable as the asset class continues to benefit from higher density living and growing demand for storage solutions.
View Our Latest Development Updates
Location Metrics
- Molendinar, Gold Coast, Australia
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