ASX-Listed Elanor Group Offering | Forecast Total Return of 15% p.a | Forecast Distribution Yield of 6% p.a. | Prime Commercial Grade Offering | Carbon Neutral Certification

“19 Harris Street is an exceptionally high quality commercial office building that meets the modern requirements for corporate business and their employees.

This seven-level office building with market leading ESG credentials and tenant amenity is located in the high-growth Sydney CBD fringe location of Pyrmont. The Fund’s strategy is to unlock significant value through the successful execution of strategic leasing initiatives.”

David Burgess, Fund Manager & Co-Head of Real Estate

Elanor Investors Group (ASX:ENN)

Established in 2009, Elanor Investors Group (“Elanor” or “Group”) is an ASX-listed (ASX:ENN) Australian real estate funds management business, managing over $2.5B of assets across Australia and New Zealand.

The key strategic objective of the Group is to identify and originate real estate backed investments that deliver strong returns for both Elanor’s funds management capital partners and Elanor security holders.

Office Sector Trends

In the wake of COVID, it has become clear that the ‘right’ office space remains an essential part of business. The hybrid working model is being embraced by employees and there is a growing expectation for more personal space at the office.

Office space is also evolving with increased demand for high-quality accommodation, fitted-out office space and a preference for locations with superior amenity and connectivity.

This has all resulted in increased leasing demand for office space across both Sydney CBD and Metro locations, with leasing enquiries up 133% and 340% year-on-year respectively (Cushman & Wakefield, Sydney Office Market Review October 2021). As such, the sector remains a very relevant asset class.

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Elanor Harris Street Fund

ESG       

The Harris Street Fund consists of a seven-level prime grade commercial office asset which is located in Pyrmont, Sydney and exhibits market-leading ESG credentials. The property has a 5-star NABERS Climate Active Carbon Neutral certification and is one of only 20 office buildings in Australia with a WiredScore rating.

Technology Precinct to Benefit from $20B of Infrastructure Investment                                                               

The property is located in the high-growth Sydney Fringe CBD precinct of Pyrmont – one of Australia’s pre-eminent technology hubs and home to Google’s Australian headquarters.

The precinct is set to benefit from $20B of public and private infrastructure investment. The Pyrmont Metro station development will enhance connectivity and provide two-minute train journeys to the CBD.

Investment Strategy

There is significant potential to increase value through the successful execution of a range of strategic leasing initiatives. These initiatives will de-risk near term expiries, increase WALE and drive the asset’s income.

On completion of Elanor’s business plan the asset will be positioned to attract strong interest from real estate investors.

Investment Offering

  • $87.1M equity raise
  • 5-year Average Forecast Distribution Yield of 6.0% p.a. payable quarterly
  • A forecast Total Return of 15.0% p.a.
  • Applications Forms and Monies due: Monday, 28 February 2022
  • Allotment Date: Thursday, 10 March 2022 

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