Acquired by BHP in conjunction with their long term investment partners, Milroy Holdings, BHP’s desire to acquire this asset was due to its very under rented nature.
Unconditionally purchased following a competitive bidding process, it is BHP’s intention to action the rent review and dispose of the asset thereafter.
- Long unexpired lease
- Rent review within 12 months
- ERV significantly greater than the passing rent
- To secure a significant uplift in the passing rent at review
- To sell a 15 year unbroken income stream following settlement of the rent review
- Financial performance solely dependant on the result of the rent review
- Significant competition during the acquisition had driven up the purchase price
- Financial performance dependant on rent review settlement
- Exit yield sensitive to long term money rates