Government Property Trust is a $165m portfolio of government-leased properties which provides an opportunity for investors to gain strong and secure returns.
Our property portfolio in the Government Property Trust is (30 June 2008):

• 12 government-leased properties, located in most States of Australian leased to Federal, State and local governments
• asset values - $165 million
• revenues - $20 million

Australian Public Trustees is responsible entity of the Government Property Trust. Australian Public Trustees holds AFSL Licence 272997, and is a wholly-owned subsidiary of APT Group Holdings Pty Ltd.

Under the General Investment Criteria as defined in the Constitution, the Government Property Trust may only seek to acquire properties where:

"Investment by the Responsible Entity in real or leasedhold property and infrastructure which is predominantly leased to, contracted for use by or underpinned by cashflows arising from Federal, State or Local government or a government agency.

In addition Australian Public Trustees has adopted policies whereby it will seek to purchase properties where:

• the impact of the property on the portfolio is expected to be yield accretive within 3 years of acquisition, and
• the Government Property Trust targets a long term LVR of no greater than 70%. The fund may exceed a 70% LVR pending the raising of further capital and subject to change in the property market.

Where a property included in the Government Property Trust no longer meets the General Investment Criteria, Australian Public Trustees may:

• seek to relet the property to another government authority
• redevelop the property for another government authority, or
• redevelop/let the property to a commercial tenant and thereafter dispose of the property within 2 years.