Orchard Industrial Property Fund
The Orchard Industrial Property Fund comprises freehold and leasehold interests in 27 well maintained and strategically located industrial properties. The Fund was listed on the Australian Stock Exchange (ASX Code: OIF) on 4 July 2007.
The properties in the Fund are currently 100 per cent leased and tenanted by well known Australian companies, including Woolworths, PaperLinx, Star Track Express, Laminex and Toll. An average lease length of 11.0 years (as at 30 June 2008), significantly above the industry average of 5.2 years, supports a stable, reliable income stream over the long term.
The Fund delivered a distribution of 8.10 cents per unit (100% tax-deferred) for FY2008 (in line with the PDS), with a forecast distribution of 5.0 cents per unit (forecast 100% tax-deferred) for FY2009.