360 Capital Investment Management Limited (CIML), the Responsible Entity for the 360 Capital Industrial Fund (“the Fund” or ASX code “TIX”) is pleased to announce the following leasing deal.
GM Holden, occupying 15,333sqm at 14-17 Dansu Court, Hallam, Victoria under a lease due to expire in May 2014 has now extended its lease for a further five years to now expire in May 2019. The commencement rental of the new lease will be $1.1m p.a. net.
Despite the recent decision by GM Holden to cease manufacturing operations in Australia from 2017, the Hallam facility accommodates GM Holden’s spare parts division that GM Holden has committed to service.
TIX Fund Manager, Ben Butler said, “This lease renewal clearly demonstrate 360 Capital’s ability to pre-emptively deal with significant lease expiries in order to underpin the strength and stability of the Fund’s future cashflows and provide strong earnings visibility.”
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