Armada Funds Management, Fund Gateway Plaza
Armada Gateway Plaza Trust

Fund Overview 

The Armada Gateway Plaza Trust was established in December 2013 by Armada Funds Management with the objective of providing reliable levels of high income with inflation linked capital appreciation. The trust owns the Gateway Plaza shopping centre in Warrnambool, Victoria.

The equity raising was $21,000,000 targeted at sophisticated wholesale investors with a minimum investment of $100,000.

The Fund was launched with an initial forecast distribution yield of 8.5% and NAV of $0.96 against a $1.00 offer unit price. 

The Property 

Gateway Plaza Shopping Centre is a sub-regional shopping centre located in Warrnambool, 260km west of Melbourne, and servicing the strong agricultural and services region of western Victoria.  It is the only sub-regional shopping centre between Mount Gambier to the west and Geelong to the east (a distance of 370 km).

It is a fully enclosed, single level sub regional shopping centre providing a dynamic offer with a quality mix of convenience, fashion and food tenants, a significant percentage of which are national brands.  The Shopping Centre has a total GLA of approximately 14,612 sqm and is anchored by a full line Kmart discount department store and Coles supermarket. In addition, there are 2 mini majors, being The Reject Shop and Best & Less, 25 specialty tenancies, 2 kiosks, 5 ATMs, and a Hungry Jacks fronting the Princes Highway.  The centre provides car parking for approximately 1,000 vehicles.

Armada is currently expanding the centre with the addition of an Aldi supermarket, a new Chemist Warehouse, and additional specialty tenancies.

Key Fund Information
Fund Type Wholesale direct property fund
Strategy: Provide reliable levels of high income with inflation linked capital growth.
Inception Date: December 2013
Term: 7-9 years
Status: Closed to new investors
Fund Size: $21 million
Minimum Investment: $100,000
Distributions: Quarterly
Liquidity: Armada will seek to sell the property in 7-9 years or list on the ASX.


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