130 Stirling Street Trust

    130 Stirling Street Trust - Change to the responsible entity

    Pursuant to the investor letter dated 31 January 2012, Charter Hall Direct Property Management Limited replaced Charter Hall Funds Management Limited as responsible entity of 130 Stirling Street Trust on 1 March 2012.

    Aside from the change in responsible entity, the business and activities of the 130 Stirling Street Trust will remain exactly the same as previous. The restructure was undertaken to improve the efficiency and effectiveness of the Charter Hall Group's compliance, corporate governance functions and outcomes associated with the responsible entity role and, to a degree, reduce administration costs. The change of responsible entity will not have any material impact on management or administration of the Trust.

    About 130 Stirling Street Trust

    • 9.0 cents per unit per annum distributions in CY2011
    • 14.9% total return since inception
    • NAV uplift from $0.95 to $1.11
    • High tax deferred component of distributions

    130 Stirling Street Trust is Charter Hall's seventh closed-end syndicate specifically chosen for its excellent tenant covenant profile. This includes 100% leased status, long weighted average lease expiry of 7.3 years and solid fixed rental increases averaging 4.6% per annum. The asset comprises four levels of contemporary A-grade office space with a net lettable area of 12,350sqm and additional retail and commercial tenancies facing Stirling and Pier Streets. The Trust provides investors with exposure to the growing Perth economy, and provides an attractive yield and strong potential for capital growth. 

    Hardship redemption

    Management has received relief from the Australian Securities and Investments Commission (ASIC) to pay redemption requests received by unitholders who are suffering financial hardship. If you qualify for financial hardship you may be able to redeem part or all of your investment. To receive a redemption based on financial hardship, you must meet the specified hardship criteria and there must be sufficient liquid assets available in the Fund. Hardship relief can only be permitted in accordance with ASIC guidelines. Hardship requests will only be considered for investors who are natural persons. Hardship requests from companies will not be considered. For further information click here.

    This information has been prepared by Charter Hall Funds Management Limited ABN 31 082 991 786; AFSL 262861 ("CHFML") for information purposes only. This website is not an offer to sell or a solicitation or an offer to subscribe or purchase or a recommendation of any securities referred to herein and the information has not taken into account any potential investors' personal objectives, financial situation or needs. Before investing, you should consider your own objectives, financial situation and needs or you should obtain financial, legal and/or taxation advice.

    CHFML does not receive fees in respect of the general financial product advice it may provide, however they will receive fees for operating the schemes of which it is the responsible entity ("Schemes") which, in accordance with the Schemes' Constitutions, are calculated by reference to the value of the assets of the Schemes. Entities within the Charter Hall Group may also receive fees for managing the assets of, and providing resources to the Schemes. For more detail on fees, see our latest annual report. To contact us, call 1300 365 585 (local call cost).