Banksia St Heidelberg JV

    Fund Overview

    The Banksia Street Heidelberg Joint Venture was established in June 2001. The fund’s investment term is to be determined through a vote of the Joint Venture participants. A withdrawal facility is currently unavailable. The Joint Venture owns a single Victorian based office building used as a mixture of laboratory and office accommodation.

    The Joint Venture currently distributes income to investors on a quarterly basis.

    Portfolio Overview

    The property is located at 16-18 Banksia Street, Heidelberg, a suburb of Melbourne. The property is fully leased to Dorevitch Pathology and is their central laboratory for the Melbourne metropolitan area.

    Investor Liquidity

    The entity is intended to wind up some time after the 10th anniversary of the settlement of the original purchase.  Following the Investor vote on 21 Dec 2011, disposal of the property is expected to occur sometime after June 2013, providing an exit opportunity for joint venture participants.

    The precise timing of wind up will be determined by a vote of investors. A vote of 25% of Joint Venture participants would be required between July 2013 and June 2016.  Net proceeds of the sale of the asset will be distributed to investors.

    In the meantime the management of the lease to Dorevitch Pathology, the building and management of the debt facility continue.

    For information on our Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) requirements click here

    Arena Investment Management Limited ABN 23 077 235 879 AFSL No. 233190 has prepared this for general information only. It does not take into account your current or future financial circumstances. It is important for you to consider these matters before you make an investment decision on holding or acquiring these products. For further information please contact your financial planner or Arena Investor Services on 1800 008 494.

    This Fund is currently closed to applications. Please contact Arena Investor Services on 1800 008 494 for further information.