30 July 2019

The Stables Property Fund has recorded a 1.8% increase in the valuation of its property asset, The Stables Shopping Centre, for the financial year ended 30 June 2019.

Located at the intersection of Golden Grove and Crouch Roads, Golden Grove, SA, the shopping centre has increased in value by 1.8% to $29.75 million since the last revaluation one year ago. The valuation of the property was completed on 30 June 2019 by Savills Australia.

Mario Papaleo, Managing Director of KM Property Funds, the Responsibility Entity of The Stables Property Fund, said “We are happy with this result, which is reflective of how well the shopping centre is performing, anchored by a Woolworths supermarket and a much needed health services precinct.”

Since inception in 2016, The Stables Property Fund has delivered a total return of 9.0% p.a. after fees and costs.

David Omond, Managing Director of KM Property Funds also said “The success behind the performance of this fund has been underpinned by the right mix of tenants that were deliberately chosen for their defensive nature, especially at a time when the retail industry is facing some head winds. Other tenants at The Stables include a medical centre, pharmacy, dentist, physiotherapist, and a chiropractor.”

KM Property Funds will be issuing a new Net Tangible Asset price per unit for the fund as soon as the financial accounts have been finalised. The price will reflect the latest valuation and other assets or liabilities of the fund, including interest rates hedges.

About The Stables Property Fund

The Stables Shopping Centre is approximately 22 kilometres northeast of the Adelaide CBD. It is located on a highly visible corner site at the intersection of Golden Grove and Crouch Roads, Golden Grove, SA in an affluent trade area.