Drapac Trust No.2

• Commercial

Drapac Trust Number 2 was established in July 2006. The property is well positioned in the northern end of the CBD, directly adjacent to the Southern Cross redevelopment and close to all major landmarks and transport hubs.

Formerly the Hoyts Cinema Centre, this 10 level building contains high quality office floors and a fully refurbished whole floor.

Drapac completed a major redevelopment of the Cinema Centre component in mid 2009. Additional capital upgrades have been undertaken on tenancies in the office tower to improve the standing of the building within the Melbourne tenancy market. In light of the expected commercial market conditions over the short to medium term, Drapac views this site as an attractive investment proposition. The primary tenant, Virgin Active Health Clubs occupies 4,500sqm metres.

The trust was registered with ASIC as a managed investment scheme and offered to wholesale clients. The capital raising closed fully subscribed in three weeks - underlining the demand for quality investment products.