Farmfest 2023
From 6 to 8 June 2023, our Investor Relations team headed out to Toowoomba Qld for FarmFest 2023.
As one of Australia’s premier agricultural events, FarmFest provided us with an exceptional platform meet and reconnect with our Investors and locals from the area.
The event spanned over several days, attracting farmers, manufacturers, suppliers, and enthusiasts from all corners of Australia. Our team was well-prepared to engage with attendees, equipped with a comprehensive understanding of our diverse property portfolio and a genuine passion for supporting the agricultural community.
Moreover, FarmFest offered an excellent platform for networking and forging valuable connections within the agricultural industry. We had the privilege of meeting renowned experts, researchers, and fellow exhibitors who inspired us with their knowledge and experiences.
Attending FarmFest 2023 was a fantastic experience for our team. It not only allowed us to showcase Clarence Property and the Clarence Property Diversified Fund, but also provided a unique opportunity to learn, collaborate, and contribute to the vibrant agricultural community.
We are planning to attend AgQuip, in Gunnedah, NSW from 22 to 24 August 2023! We hope to see you there.
GOLD for 'The Rocket'!
Clarence Property and our Property Management Team are pleased to announce that our building The Rocket in Robina, Queensland recently achieved a WiredScore Gold rating for its high-quality digital connectivity and infrastructure.
The WiredScore certification recognizes, assesses, and promotes top digitally connected businesses across the globe, providing a rating for office buildings based on their digital connectivity and innovation.
Achieving a gold rating signifies that The Rocket possesses exceptional digital capabilities, meeting the demands of modern businesses and ensuring seamless connectivity for its tenants.
The Rocket’s gold-rated WiredScore is a testament to Clarence Property’s unwavering commitment to providing state-of-the-art amenities and services for its occupants.
This accolade solidifies The Rocket’s position as a prime destination for forward-thinking companies seeking a technologically advanced workspace. With its gold-rated WiredScore, The Rocket stands out as a beacon of connectivity and digital excellence in the realm of commercial properties.
As reliance on technology in the workplace grows, digital connectivity has become increasingly essential to businesses. Working in our WiredScore Gold certified property – The Rocket, ensures that our Tenants have access to fiber connectivity as well as choice of internet service providers to support diverse connections and ensures measures are in place to reduce the risk of connectivity loss and interruption.
Read more here Homepage – WiredScore
"THE ROCKET IS A BEACON OF CONNECTIVITY & DIGITAL EXCELLENCE"
Clarence Property's 'BAYSIDE', Brunswick Heads Secures Development Approval
Clarence Property is proud to announce the approval of our Bayside residential subdivision at Brunswick Heads from the Northern Regional Planning Panel.
This ecologically led subdivision will feature 123 flat fully serviced residential lots, 3 medium density lots and public reserves amongst 18ha of land to be preserved and enhanced for conservation purposes.
This approval could not have been achieved without the collaborative and positive engagement with the Byron Shire Council and we look forward to continuing this approach throughout development.
‘Bayside’ will encompass a thoughtfully designed residential development that embraces sustainability, open spaces, and a strong sense of community. The approval highlights Clarence Property’s commitment to creating developments that enhance their surroundings while providing residents with an exceptional lifestyle.
For all sales enquiries, please contact Todd Buckland at Byron Shire Real Estate.
Primex 2023
From 11 to 13 May 2023, our Investor Relations team headed out to Casino NSW for Primex 2023.
Held in Casino, NSW, the annual Norco Primex event is one of Australia’s largest primary industry events. With over 1,000 products and services aimed at farming professionals.
It was a pleasure meeting and reconnecting with our Investors, locals and one wombat!
Whilst at Primex, some members of our team attended Sourdough Business Women’s inaugural ‘Women in Business breakfast’. It was a fantastic showcase of the experience of three local female producers. Clarence Property is lucky to be a part of such innovative communities around regional NSW.
The week was a huge success, and Clarence Property will certainly be back for Primex 2024.
We are also looking forward to
attending:
·
FarmFest 2023, from 6
– 8 June 2023, in Toowoomba, Qld
AND
·
AgQuip 2023, from 22 – 25 August 2023, in
Gunnedah, NSW
Clarence Property at Primex 2023
Clarence Property attending the Sourdough Business Women's Women in Business Breakfast at Primex 2023.
Clarence Property Capital Raising Team pose with Wombat at Primex 2023.
Last month, our Clarence Property Team had the opportunity to complete a Defensive Driver Training Program with The Drive Team.
The full-day course took the team through theory around awareness and attitudes on the road, then we put our newly learned driving techniques to the test with some hands-on training at the purpose-built Driver Training facility at RACQ Facility Mount Cotton.
As the team does a lot of driving to and from work and to properties, learning how to keep both yourself, and others safe on the road is such an important skill to have and our Clarence Property Team loved this experience!
If you’re wanting to learn more about defensive driving courses, get in touch with David at @thedriveteam for an awesome learning experience.
Clarence Property sponsors Kids In Capes 2023 calendar.
Clarence Property is proud to be one of the sponsors of the 2023 Kids in Capes Calendar
Kids in Capes is a wonderful opportunity to support local children and their families in need through the Grafton Base Children’s Ward!
LAST CHANCE to place an order for this amazing cause. Simply head on over to @kidsincapes and message their friendly team.
2021/22 IN REVIEW
The CPDF group’s audit for the year-ended 30 June 2022 has been completed, and the consolidated financial statements lodged with ASIC.
You can access a copy of the audited accounts at https://clarenceproperty.com.au/forms-and-reports/
The year was a successful one financially for the Fund, despite the lingering impacts of COVID and the extended period of wet weather which caused flood damage to a couple of the Fund’s properties. Highlights were:
- We welcomed 189 new investors to the Fund during the year;
- Close to $80m of new capital was raised;
- Group revenue totalled $95.7m, up from $75.9m the previous year;
- After-tax profit was $57.5m (30/6/21: $23.6m), or approximately 14.6 cents per unit;
- 8 commercial rental properties, the second 50% interest in The Rocket and 4 development sites were purchased;
- Group assets at 30/6/22 totalled $726.8m, an increase of $193.4m over the twelve months;
- Gearing at 30/6/22 was 37.6% (30/6/21: 36.1%);
- Unit price at 30/6/22 was $1.10 per unit, up 15.8% from $0.95 per unit at 30/6/21; and
- Distributions paid during the year totalled $24.3m.
RECENT ACQUISITIONS – DEVELOPMENT PROPERTY
There’s been a noticeable change in the mood of property markets over the last few months, and we remain cautious.
The year to date has been tough with floods, continuing wet weather, a fire, builders unable to finish jobs, unavailability of key materials (e.g. concrete pipes) and under-resourced local Councils all having an impact on our operations. Despite this we are still managing well and would like to think some better luck will come our way over the next year.
On the positive side the business of renting out properties is in good shape, with record low arrears and vacancy rates. Additionally, although interest rates have climbed, we do have approximately 40% of our debt locked at low rates for the next few years. And with gearing at around 37% we have plenty of capacity to absorb any unexpected issues. So, the job ahead is to keep the commercial buildings as well leased as possible, and to advance each land development as fast as practicable.
"ZONE" UNDERWOOD - FIRE UPDATE
As reported in our August update, part of the Fund’s large format retail centre at Underwood in Brisbane was impacted by fire in late August. The affected building has now been demolished, and design work is under way for the replacement building. We have started receiving rent compensation from our insurer and are in discussions with the intending purchaser to find a commercial way forward to complete “Zone”, Underwood, QLD the sale.
SALE OF ORMEAU MARKETPLACE
We recently accepted an attractive offer to sell Ormeau Marketplace. The sale, for $34.0m against a book value of $31.5m (and against the December 2019 cost of $29.0m), settled in September and transacted on a yield of 5.25%.
CAPITAL RAISING UPDATE
Just a reminder that new or top-up investments in CPDF remain available. The current issue price is $1.10 per unit, and we are forecasting a gross return this year of 7.1 cents per unit (6.45%) made up of 6.1 cents per unit p.a. cash, paid monthly, and a forecast franking credit of 1.0 cent per unit.
Please read the PDS and Target Market Determination, both of which are available on our website www.clarenceproperty.com.au
Thank you for taking time to read this update. If you have any questions, please contact our investor relations team on: 1300 382 362 or invest@clarenceproperty.com.au
Clarence Property sponsors Northern Rivers Regional Business Awards 2022.
Our General Manager, Paul Rippon, presented the Outstanding Business Leader Award sponsored by Clarence Property at the 2022 Northern Rivers Regional Business Awards held in Lismore last week.
A huge congratulations to the winner Simon Stahl, CEO of Northern Cooperative Meat Company 
The Northern Rivers Regional Business Awards are all about celebrating and showcasing the diverse talent we have in the Northern Rivers business community.
Clarence Property are proud sponsors of this wonderful initiative and congratulate the entrants, finalists and winners.
“ZONE” UNDERWOOD, QLD – UPDATE
Overnight on Tuesday, 23 August 2022, one of the buildings at Zone Underwood was severely impacted by fire. The fire commenced in the Officeworks tenancy and appears to have been deliberately lit. Police have declared the site a crime scene. The extent of the damage is currently being assessed. CPDF’s insurers have been notified. The complex is insured for fire, building replacement and loss of rent, and we do not anticipate there being any material financial loss to investors as a result of this event.
RECENT ACQUISITIONS – COMMERCIAL PROPERTY
“The Rocket”, Robina, QLD
The Rocket is a freehold commercial building comprising retail and commercial space. CPDF has acquired the second 50% interest in this property from Sentinel Property Group, for $43.5 million.
21-27 Grant Street, Port Macquarie, NSW
This commercial office building was acquired in June for $16.0m with an occupancy rate of 96%, underpinned by Centrelink and Property NSW.
“Zone”, Underwood
RECENT ACQUISITIONS – DEVELOPMENT PROPERTY
“The Base”, Robina, QLD
This prime waterfront site adjoins “The Rocket”, and was acquired in June for $5.1m. It is DA approved for a 5-level + basement parking office tower with a lettable area of approx. 5,000 sqm. Construction is expected to start in early 2023.
Child Care Centres, QLD & Vic
The Fund has four childcare centres under construction or soon to be commenced, with completion of all four anticipated by late 2023. The centres, which have a combined as-if-complete value of $27.837m, are located at:
- 1 Brooking Rise, Ripley, QLD
- 278 Orange Grove Road, Salisbury, QLD
- 28 Lamorna St, Rochedale South, QLD
- 29 Goldsmith Avenue, Delahey, Vic
The Base, Robina
DEVELOPMENT PROPERTIES UPDATE
Across the portfolio, we have development properties at all stages of their life-cycle – in planning, with local Councils or the NSW Dept. of Planning for approval, under construction and selling. It’s fair to say the “heat” has gone out of development activities over the last couple of months, with a blowout in Council approval timeframes (largely flood-related), rising construction costs and a noticeable slowdown in the rate of sale. That said, we’re seeing anecdotal
evidence of signs of improvement, and anticipate some “normality” returning to the land development sector during 2023. Here’s a summary of the Fund’s development sites:
“Epiq” Lennox Head, NSW
“Epiq” Lennox Head is currently in Stages 4, 5 and 7 of its anticipated development, specifically:
- Stage 4: Sold and settled 35 lots; 14 lots to be constructed and sold
- Super Lot 5: State planning
- Stage 7: Released for sale in May 2022; construction complete
“Yamba Quays”, Yamba NSW
The development is in various stages:
- Stage 1: Sold
- Stage 2: First release sold
- Stage 3: Construction commenced mid-2022
- Stage 4 & 5: In design
The Fund recently purchased an adjacent lot to Yamba Quay’s existing 21.75ha, bringing the total area to 31.7ha. Master planning for this new site has commenced.
Newmans Road, Woolgoolga, NSW
Purchased in 2022, the 80 lot Newmans Road site is anticipated to commence commence construction in late 2023.
“Hub Heathwood”, Heathwood, QLD
“Hub Heathwood”, a DA approved 24 lot site purchased in September 2021, is currently under construction and selling.
The Base, Robina
CAPITAL RAISING UPDATE
CPDF re-opened to new investment in April 2022, with a unit issue price of $1.10 and a forecast gross distribution for the current financial year of 6.45%. If you’d like to add to your investment, please complete an existing investor online application on our website. Have your Investor Number handy!
2021/22 ANNUAL TAX STATEMENT
Data to allow preparation of your 2021/22 tax statement has been sent to Boardroom for processing. We expect you’ll receive your statement in early September. Watch out for an email from donotreply@boardroomlimited.com.au which will have your statement attached.
BOARDROOM UPDATE (OUR ONLINE INVESTOR REGISTER)
Since we appointed BoardRoom to maintain our unit holder register in May last year, we’ve had plenty of constructive feedback from investors regarding their experience. We’ve used that feedback to improve functions and usability. Once you register for BoardRoom you will have direct access to your investment information with the ability to print statements, update details and review transactions.
We encourage you to register by going here and following the REGISTER NOW instructions: www.clarenceproperty.com.au/how-to-register/
If you run into any problems, call Julie in our Lennox office on 02 6618 1555 and she’ll give you a hand.
From 15 to 19 August 2022, our Investor Relations team headed out to Gunnedah NSW for AgQuip 2022.
Held in Gunnedah NSW, the annual AON AgQuip event is Australia’s largest primary industry event. With over 3,000 products and services aimed at farming professionals.
It was a pleasure meeting and reconnecting with our Investors and their family’s.
The week was a huge success, and Clarence will certainly be back for AgQuip 2023.
We are also looking forward to attending Primex 2022, from 10-12 November.
News and Investor Updates
Clarence Property Corporation Limited ACN 094 710 942, AFSL 230212, is the issuer of the PDS for Clarence Property Diversified Fund ARSN 095 611 804 and Epiq Lennox Property Trust ARSN 626 201 974. Please read the PDS and TMD at clarenceproperty.com.au before deciding whether to invest.
This website is not intended to be and does not constitute a PDS or any form of disclosure document, as defined by the Corporations Act 2001 (Cth). This website does not constitute an offer for the sale or purchase of units, and does not constitute any recommendation in relation to investing. This website has been prepared without taking into account any particular consumers financial situation, objectives or needs.
Whilst every care has been taken by Clarence Property in the preparation of this website, Clarence Property does not make any representation or warranty as to the accuracy or completeness of any statement in it. Persons viewing this website should conduct their own inquiries and investigations. The information on this website is subject to change, and Clarence Property is not responsible for providing updated information to any person.
Subject to any responsibilities implied by law and which cannot be excluded, Clarence Property is not liable to you for any losses, damages, liabilities, claims and expenses (including but not limited to legal costs and defence or settlement costs) whatsoever arising out of or referable to any material on this website or any third party website whether in contract, tort including negligence, statute or otherwise.
In the spirit of reconciliation Clarence Property acknowledges the Traditional Custodians of country throughout Australia and their connections to land, sea and community. We pay our respect to their Elders past, present and emerging and extend that respect to all Aboriginal and Torres Strait Islander peoples today.
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