Trilogy Funds expands national footprint with Northern Territory acquisition


12 December 2022 

Australian fund manager Trilogy Funds added its first Northern Territory property to its Industrial Property Trust (the ‘Trust’) this week, with the acquisition of a $29 million commercial property in Berrimah, signalling a strong vote of confidence in the current strength and potential growth of the region.

The property is located on the Stuart Highway at Berrimah, centrally positioned between the Darwin and Palmerston population centres and in a prime location for freight distribution into the Greater Darwin area.

The high-performing large format retail centre is a combination of showroom and warehouse, constructed in 2018 on a 1.94 hectare site. with the property boasts 9,449 square metres of gross lettable area and is fully leased to four blue-chip tenants- Amart Furniture, BBQs Galore, Reece and Joyce Mayne.

Trilogy Funds co-founder and Managing Director Philip Ryan said the growth projections for Darwin’s economy were an important driver for the Trust’s first property acquisition in the Northern Territory.

“The Northern Territory experienced significant economic growth of 4.7% in the 2021-2022 financial year, making it the third strongest jurisdiction in this regard. This was combined with impressive increases across the region in retail trade, wages, and household income.

“The Northern Territory has become a hotspot for investment and jobs, with a growing investment pipeline into the mining, oil and gas, agribusiness and defence sectors, all of which contribute to the government’s target of growing the Territory to a $40 billion economy by 2030.

“There has been significant investment in the region by both the government and the private sector with another $50 billion set to be invested over the next few years, that is expected to underpin future economic growth and have a direct impact on Darwin’s Industrial markets.”

Mr Ryan said the built form of this property and the type of tenants it attracts presented several benefits for the Trust.

“The tenants at this property are bulky goods and have been largely insulated from COVID, unlike other retail in the sector, who have felt the impact of the increasing popularity of online shopping.

“A benefit of this type of asset class is the turnover rent threshold included in Amart Furniture’s lease , which was met during the acquisition process. This not only increases returns for the Trust but it’s another indicator of a strong local economy as people continue to spend on discretionary household purchases.

“The Darwin property is a valuable addition to the Trust’s portfolio and sits well with our strategy to grow the Trust’s commercial footprint in Australia. The Weighted Average Lease Expiry (WALE) of approximately 9 years at settlement will assist the Trust in providing stable income to investors. ”

This latest acquisition follows the Trust’s previous purchases of properties in southeast Melbourne, Sunshine Coast, Toowoomba, and New South Wales.

The agents for the sale were Colliers Darwin – Craig Inkster.

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This media release is issued by Trilogy Funds Management Limited ACN 080 383 679 AFSL 261425 (Trilogy) as responsible entity for the Trilogy Industrial Property Trust (Trust) ARSN 623 096 944. Application for investment can only be made on the application form accompanying the Product Disclosure Statement (PDS) dated 1 July 2021 for the Trilogy Industrial Property Trust ARSN 623 096 944 available at The PDS contains full details of the terms and conditions of investment and should be read in full, particularly the risk section, prior to lodging any application or making a further investment. All investments, including those with Trilogy, involve risk which can lead to loss of part or all of your capital or diminished returns. Trilogy is licensed to provide only general financial product advice about its products and therefore recommends you seek personal advice on the suitability of this investment to your objectives, financial situation and needs from a licensed financial adviser. Investments with Trilogy are not bank deposits and are not government guaranteed. 

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