RFM Land Trust ARSN 128 112 443 (Land Trust)
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Background |
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Fund Overview & Assets |
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Background
Rural Funds Management Ltd (RFM) is the Responsible Entity (RE) for the RFM Land Trust (formerly known as the Great Southern 2008 Forestry Land Trust).
The Land Trust was established to allow investors (Unitholders) the opportunity to invest in Australian forestry land. The Land Trust previously leased all properties to Great Southern Managers Australia Limited (GSMAL) (Receivers and Managers Appointed) (In Liquidation), for use in the (2008 Renewable Fibre Project) Tree Project.
The Tree Project is an entirely separate business to the Land Trust. McGrathNicol, the Receivers of GSMAL, have concluded their assessment of the Tree Project and advised RFM they are proceeding to wind up the Project.
Fund Overview & Assets
A decision has been made to liquidate the assets of the RFM Land Trust and distribute the proceeds to Land Trust Unitholders. RFM expects that the liquidation and wind-up process will take approximately 18-24 months.
The Land Trust currently owns 23 properties throughout Australia. The 5 properties in Victoria’s Gippsland region and 1 property in South Australia have already been sold. The Tasmanian property owned by the Trust, and the 3 remaining South Australia properties on Kangaroo Island have all been put on the market. RFM is confident of being able to achieve a reasonable sale price for these properties over the coming months.
The 11 Western Australia properties have been leased to Gunns Limited for terms of 10 or 12 years. RFM intends to list these properties for sale within the next 12 months. The remaining 2 Western Australian properties have been listed for sale.
RFM will continue to keep unitholders up to date with the liquidation and wind-up process. It is currently anticipated that a payment will be made to unitholder during 2012. It is recommended that unitholders complete an investor change of details form to ensure that your contact details and bank details are correct. The completed form can be returned by any of the methods below:
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Post to: |
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Fax to: |
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Email: |
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Rural Funds Management Locked Bag 150 Kingston ACT 2600 |
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1800 625 518 |
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investorservices@ruralfunds.com.au
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