News

Original Article From RAA Press Release One of the State’s most recognisable brands will soon sit atop Adelaide’s most iconic CBD building, with RAA securing two floors at 91 King William Street to accommodate its growing workforce. As part of the deal with the owners of 91 King William Street, ICAM and Abacus Property Group, RAA will relocate approximately 200 of its 1200-strong team to t

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Original Article from The Advertiser Construction of a $10 million extension of the Churchill Shopping Centre in Kilburn has begun after a major international retailer signed up as anchor tenant. Developers would not reveal the identity of the retailer, but said it was “one of the world’s best performing retail labels”. It will occupy 1700sq m in the 3500sq m extension being built a

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Original Article from The Advertiser   A new brand will emblazon one of the city’s most recognisable buildings following Westpac’s departure from its long-standing city headquarters. Westpac House on King William St stood as the city’s tallest building for more than three decades after it was built in 1988, and has been home to Westpac since 2007. The bank is currently looki

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Original Article from The Advertiser   Local fund manager ICAM has paid about $12m for IKEA’s South Australian distribution centre near Adelaide Airport. The property will be added to ICAM’s Modbury Strategic Retail Trust, which manages the group’s recently purchased Bunnings site on North East Rd in Modbury. IKEA’s distribution facility, on Transport Avenue in Netley, ser

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Original Article by Renato Castello – Advertiser (print) – Our great city is in need of a great plan Increased interstate migration, burgeoning hi-tech industries, and a “diffusion” of residents to the regions, has industry figures calling for a planning rethink for Adelaide. The city’s reputation as the world’s third most livable city and the impact of Covid on how p

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Original Article by Anthony Macdonald, Yolanda Redrup and Kanika Sood – Australian Financial Review – Merricks Capital tips $40m into SA port refinance Merricks Capital has capped off a $40 million senior credit facility with the ICAM Duxton Port Infrastructure Trust (IDPIT), which has developed a port in South Australia’s Eyre Peninsula.   Located in Lucky Bay, the port

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Original Article by Valerina Changarathil – The Australian – Fund manager ICAM buys ‘Covid-proof’ Bunnings Modbury site SA-based alternative investments fund manager ICAM has bought the Bunnings-leased Modbury site for $22.8m, making inroads into a tightly-held ‘Covid-proof’ retail precinct. Inheritance Capital Asset Management (ICAM) has bought the 100-per cent freehold interest

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Original Article by Sarah Thompson, Anthony Macdonald and Tim Boyd – Financial Review – Morgan Stanley rules off $40m private port raising The capital raising boat is successfully floating at shallow-water port developer ICAM Duxton Port Infrastructure Trust (IDPIT). Street Talk understands IDPIT has locked in $40 million of fresh cash from high net worth individuals, family offices and

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Original Article by Sarah Thompson, Anthony Macdonald and Tim Boyd – Financial Review – Morgan Stanley in private port raising, introduces IPO candidate Morgan Stanley’s asking clients to tip into an intriguing port company’s $45 million private funding round, with the lure of a potential initial public offering in 2023. Morgan Stanley’s retail arm, MSWM, has kicked off a $45 milli

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Original article by Paula Thompson, The Advertiser South Australia’s latest player in the grain handling market has established a freight network to give work to Eyre Peninsula carriers year-round. T-Ports has just kicked off its first harvest on the Eyre Peninsula, with its new grain receival and storage sites at Lock and Lucky Bay already taking in about 25,000 tonnes. Grain received

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Original article by Richard Evans, The Advertiser A $130 MILLION new port on the Eyre Peninsula is set to become a game changer for the movement of agricultural and mineral products across Australia. Bringing the “port to the product” is the simple philosophy underpinning the transformation of Lucky Bay into a revolutionary shallow water port that will serve as a giant grain storage and expor

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Original article by Adelaide Now EIGHT months after the final phasing out of stamp duty on commercial property in South Australia, better communication is needed to make more overseas buyers aware of the opportunities on offer says a leading, institutional fund manager based in Adelaide. And the requisite improvements are not just outside the state says Inheritance Capital Asset Management

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Original article by Su-Lin Tan – Financial Review – ICAM, Accord Property buy 50pc of Churchill Centre North for $42.5 million South Australia-based fund managers Inheritance Capital Asset Management (ICAM) and Accord Property have jointly acquired a 50 per cent interest in the massive 18-hectare Churchill Centre North Shopping Centre in Adelaide for $42.5 million in an off market transactio

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LISTED developer Axiom Properties has completed the $42.5 million sale of its 50% interest in the Churchill North retail precinct to Adelaide fund manager Inheritance Capital Asset Management (ICAM). Following an exclusive due diligence period, contracts have been executed with settlement due this month. As part of the deal, Axiom, will retain a 35 per cent stake in the purchasing trust and will

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Original article by Belinda Willis – The Advertiser – Consortium to start building Lucky Bay Port on the Eyre Peninsula from next week WORK starts on a long-awaited $115 million grains port on Eyre Peninsula next week, led by new T-Ports company and Adelaide Crows chairman Rob Chapman. It’s a vital breakthrough for grain farmers currently facing expensive transport costs and scant competi

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Original article by Elizabeth Anderson – Stock Journal – Idea to reach fruition as Lucky Bay Port becomes reality EYRE Peninsula graingrowers could be delivering wheat and barley to a new port this harvest, with funds secured for a shallow harbour port at Lucky Bay, near Cowell. The Lucky Bay Port Facility will be built and operated by T-Ports, a joint venture between Inheritance Capital As

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Original article by Richard Evans – The Advertiser Inheritance Capital Asset Management (ICAM) is to buy a 50 per cent share of the Churchill North shopping centre for $42.5 million AN emerging Adelaide fund manager which bought a half share in the city’s tallest building has agreed to spend $42.5 million on a northern suburbs shopping centre. Inheritance Capital Asset Management (IC

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Original article by Cameron England – The Advertiser A $100 million port to be built at Lucky Bay on the Eyre Peninsula is being proposed by a consortium including former banker and Crows chairman Rob Chapman and commodities expert Ed Peter. The group says the project, near Cowell, is well advanced following discussions with local grain growers and relevant government authorities. It is now l

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Original article by Richard Ferguson – The Australian  Property group Abacus has sold a half stake in Adelaide’s tallest city tower for $88.5 million to a locally based fund manager in one of the South Australian capital’s biggest property deals. Adelaide fund manager Inheritance Capital Asset Management bought the half interest in Westpac House. Abacus’s fund management offshoot k

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Original article by Richard Evans – The Advertiser THE South Australian commercial property sector was handed a huge boost of confidence yesterday after a half share of Adelaide’s tallest building sold for a whopping $88.5 million. Inheritance Capital Asset Management (ICAM) — a local independent property fund manager boasting a well known Adelaide businessmen Jim Hazel as chairman and Ro

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Original article by Nick Lenaghan – Financial Review Boutique property fund manager Inheritance Capital Asset Management has bought a half stake in Adelaide’s Westpac House from Abacus for $88.5 million. Abacus put Adelaide’s tallest tower on the market last year, with early price expectations for the whole tower tipped to be $180 million-plus. Knight Frank’s Guy Bennett, Colliers Inte

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