Metro Property Syndicate
as at 30 September 2011
The Metro Property Syndicate comprises the South Grafton Shopping Centre, South Grafton NSW and the Paralowie Shopping Centre, Paralowie SA.
The South Grafton Shopping Centre is located at 94 Bent Street, South Grafton. Bent Street is the main street and connects South Grafton via a bridge across the Clarence River to North Grafton.
Grafton is situated approximately 640km north of Sydney and 350km south of Brisbane on the north coastal plain of New South Wales. The city has an area of 82km2 and is naturally divided into north and south by the Clarence River.
The Paralowie Shopping Centre is located at 3-7 Liberator Drive, Paralowie. Paralowie is in the Municipality of the City of Salisbury.
The City of Salisbury is located approximately 25km north of Adelaide and occupies and area of 161km2 extending from the shores of the Gulf of St Vincent to the Para Escarpment and the foothills of the Mr Lofty Ranges. Since World War II, Salisbury has expanded dramatically due to the changes in transport, population growth, technology, immigration and the close proximity to the City of Adelaide.
An update on the progress of the Syndicate can be found in the latest edition of
Viento Insider News.
Applications
|
Fully Subscribed
|
| Income Distributions |
Suspended |
| Distribution Reinvestment |
Not available
|
| Minimum Withdrawal |
Not available until End Date
|
Back to Top ˆ
Syndicate Structure
|
Fixed Term
|
Start Date
|
October 2003
|
End Date
|
October 2011
|
| Units on Issue |
7,650,000
|
Portfolio Purchase Price
|
$14,725,000 |
| Number of Properties |
2 |
| Occupancy Rate |
99.6% |
Back to Top ˆ
| Financial Institution |
National Australia Bank
|
| Loan Amount |
$10,160,000 |
| Term of loan |
Expires 30 June 2012
|
| Gearing Ratio1 |
70.12% |
| Loan to Value Ratio (LVR) |
Non Compliant |
| Current Interest Rate |
8.12% |
| Interest |
23% Variable 77% Fixed |
| Interest Cover2 (Times) |
1.26 |
| Interest Times Cover Ratio (ITCR) |
Compliant |
1 Calculated in accordance with ASIC's Regulatory Guide 46. The gearing ratio indicates the extent to which a scheme's assets are funded by external liabilities.
2 Calculated in accordance with ASIC's Regulatory Guide 46. The interest cover indicates a scheme's ability to meet interest payments from earnings. Note that the interest cover formula defined by ASIC is not the interest cover related formula (interest times cover ratio) adopted by our financiers.
Back to Top ˆ
- The Net Tangible Asset value (NTA) is an indication of the value of the collective properties in the Syndicate, including acquisition costs. It does not include sale costs.
Financial Year
|
Unit Price
|
NTA |
| 2010/2011 |
1.00 |
0.50 |
2009/2010
|
1.00
|
0.83
|
| 2008/2009 |
1.00
|
0.77
|
2007/2008
|
1.00
|
1.01
|
| 2006/2007 |
1.00
|
1.17
|
| 2005/2006 |
1.00 |
0.94 |
2004/2005
|
1.00
|
0.91
|
| 2003/2004 |
1.00 |
0.84
|
Back to Top ˆ
| Financial Year |
Quarter 1 |
Quarter 2 |
Quarter 3 |
Quarter 4 |
| 2011/2012 |
NA |
|
|
|
Historical Distributions
Financial Year
|
Cents Per Unit (CPU)
|
Return %
|
Taxable Component
|
| 2004/2005 |
7.88 |
8.12% |
100% Tax Deferred |
| 2005/2006 |
7.13 |
7.32% |
100% Tax Deferred |
| 2006/2007 |
9.00 |
9.31% |
100% Tax Deferred |
| 2007/2008 |
8.94 |
9.24% |
100% Tax Deferred |
| 2008/2009 |
4.00 |
4.00% |
100% Tax Deferred |
| 2009/2010 |
3.00 |
3.00% |
100% Tax Deferred
|
| 2010/2011 |
1.50 |
1.50% |
100% Tax Deferred |
Back to Top ˆ
Back to Top ˆ