ICAM Funds

PROPERTY

Churchill Centre North Investment Trust 1

ICAM acquired 50% of this shopping centre, located 7km from the Adelaide CBD in February 2018 and it is performing very well for our investors.

$60M

GROSS ASSET VALUE

(50% stake)

6.5-7%

TARGET INCOME YIELD

Average over 5 years

10%

TARGET IRR

(Excluding development upside)

Churchill Centre North is a modern sub-regional shopping centre featuring Adelaide’s only Costco, one of South Australia’s best performing Coles supermarkets as well as Kmart, TK Maxx and Aldi as major tenants together with a wide mix of non-discretionary retailers and significant surplus land offering further development potential.

Our Centre’s performance has been strong with turnover increasing 13% Y-o-Y, with further growth forecast as the catchment area continues to expand.

Investment Highlights
  • Anchored by a quality global and national tenant mix including Adelaide’s only Costco in addition to Coles, Kmart, TK Maxx & Aldi
  • Significant upside with c.10,000sqm of surplus land with potential for future development
  • Prime location only 7km from the Adelaide
Jim Hazel
Chair

FAICD, Fellow University of South Australia, Fellow FINSIA, B.Econ

Andrew Daniels
Director

FCA , MAICD, BA (Acc)

Freddy Bartlett
Managing Director

FGLF14, GAICD, CIMA, GradCertAppFin, BA (PolSci, BusLaw)

Michael Ruggerio
Director

ACA, CTA, Dip. FinServ