Elderslie launches 7th syndicate
Elderslie Property Limited has recently acquired $23 million of assets to launch its seventh property syndicate, including a $4.5 million property at Cockburn Sound, which will form part of a high-tech industrial marine park.
US defence technology company Raytheon has pre-committed to a 10-year lease on the property, which it will occupy as its regional headquarters.
The property will include a 3,000 square metre commercial/industrial building, to be developed by Clough for Elderslie.
Elderslie managing director Luis Garcia said the group was established in Perth 47 years ago and has about half its investor base in Western Australia.
“The last three syndicates we have had involved joint ventures with Clough, and we have roots in Perth which we will always want to keep,” he said.
“The Perth market is good to invest in – it gives high yields, security and regular income.”
The Elderslie Property Group has funds under management valued at more than $170 million and launched its first syndicate late in 2000.
Mr Garcia said Elderslie had just released its seventh syndicate with the aim of raising $11 million of capital, with units starting from $5,000.