MAB Bourke Street Trust
The MAB Bourke Street Trust (MBST) was an unlisted Australian unit trust which owned a retail property in the core of the Melbourne Central Business District.
Registered Name: MAB Bourke Street Trust (ARSN 099 460 616)
Established: May 2002
Wound Up: May 2009
Property Value:
Purchase Price $15,000,000 (May 2002)
Sale Price $23,640,000 (December 2008)
Property Details:
360 Bourke Street, Melbourne, Victoria
- Modern 4 level retail property constructed in 1995
- Situated in north-west corner of the intersection of Bourke and Elizabeth Streets opposite the former Melbourne GPO and the western end of the Bourke Street Mall
- Building area of 3,025 square metres gross
- At time of sale it was fully let to tenants including St. George Bank, Angus & Robertson and Kathmandu
NTA at wind up: $1.78 Per Unit
MBST Performance:
MBST delivered an Internal Rate of Return for the investment period of 21.50% per annun. The distribution performance for the holding period is summarised as follows:
|
Term |
Annualised Distribution |
Tax Deferral |
|
1 May 2002 to 30 June 2002 |
9.00% |
83.22% |
|
1 July 2002 to 30 June 2003 |
9.00% |
65.12% |
|
1 July 2003 to 30 June 2004 |
9.25% |
63.82% |
|
1 July 2004 to 30 June 2005 |
9.75% |
94.04% |
|
1 July 2005 to 30 June 2006 |
10.00% |
61.62% |
|
1 July 2006 to 30 June 2007 |
11.00% |
39.57% |
|
1 July 2007 to 30 June 2008 |
11.00% |
23.40% |
|
1 July 2008 to 30 June 2009 |
11.00% |
13.74% |
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For further details see MAB Funds Annual Reports.