ICAM Strategic Retail Trust
The Trust’s mandate is to acquire strategic retail assets with strong retail tenant covenants in strategic in-fill locations.
The Trust was formed in 2021 with the acquisition of Bunnings Modbury, followed by the purchase of IKEA’s state distribution warehouse at Adelaide Airport in 2022. The Trust’s third acquisition and second asset at Adelaide Airport, the state headquarters of Bunnings Group subsidiary Beaumont Tiles, is currently under development with expected completion in early 2025.
6%-6.5%
Target Income Yield
(Average over 5 years)
Bunnings Modbury
IKEA South Australian Distribution Centre (Adelaide Airport Junction)
Beaumont Tiles South Australian HQ and Distribution Centre (Adelaide Airport Junction)
The ICAM Strategic Retail Trust currently holds a 100% freehold interest in Bunnings Modbury at 933-945 North East Road, Modbury, SA and 100% leasehold interest in IKEA Netley at 91 Transport Avenue, Adelaide Airport. The Trust’s third asset is the built-to-suit state distribution headquarters for Bunnings Group-owned Beaumont Tiles at 435 Richmond Road, Adelaide Airport.
Investors in the Trust will have exposure to Bunnings Modbury, IKEA Netley and Beaumont Tiles.
Investment Highlights
Three assets located in tightly-held retail or logistics hubs with strong tenant covenants
5.63-year WALE
100% Occupancy
Highly desirable tenant covenants – IKEA and Bunnings Group
Monthly Distributions
