Drapac Trust No.1

• Commercial

Drapac Trust No. 1 was established by Drapac Management Limited in January 2004 as a wholesale investment scheme. The Trust owns a single asset located at 750 Elizabeth Street Melbourne which comprises a major car dealership (City Ford) situated on a highly exposed corner site. The site has three street frontages and an overall land area of 7,215 square metres.

Zoned Mixed Use, the property was acquired for its redevelopment potential with a number of high profile outcomes possible by virtue of the sites significant size, configuration and location. Located in close proximity to hospitals, universities and a number of high traffic retail uses, the site is perfectly located to take advantage of the high demand for future development sites in the area.

The Trust was established to provide investors with a strong regular income stream as well as scope for strong capital growth off the back of the redevelopment potential.

In March 2009, Drapac Management successfully negotiated the sale of the 750 Elizabeth Street site to Melbourne University for $36.75 million. The property settled in April 2009 and proceeds from the sale were distributed to Unitholders.

Since inception, Drapac Trust No. 1 has provided investors with an IRR of 26%, resulting in total return on equity of 157%.