|First published: Jan 09||Last updated: March 26|
It’s no ordinary parcel of land though – the 154 hectare site is home to some of Australia’s favourite theme parks, including Warner Bros. Movie World and Wet ‘n’ Wild.
No, LGIAsuper isn’t going into the theme park business: we own the land and ASX-listed Village Roadshow will continue to operate the parks on an initial 30-year lease.
LGIAsuper will receive an immediate return of more than 6% p.a., with annual rental reviews.
Head of Investment, Guy Rundle, said the deal was great news for the fund’s 85,000 members.
“These opportunities obviously don’t come up very often,” Mr Rundle said.
“At LGIAsuper, our aim is to grow the retirement savings of members, and help them generate income in retirement.”
“And this investment is perfectly aligned with that — generating growing income, plus the potential for significant capital growth in future years.”
The investment adds to LGIAsuper’s growing Queensland investment portfolio, which includes stakes in the Sunshine Coast Airport and Gold Coast Light Rail Project.
LGIAsuper also invests in commercial and industrial property across regional Queensland and continues to look for long-term investment opportunities which benefit our members and communities.
You can read more about how where we invest, and how we’re helping our members secure a better financial future here.