Westbrooke Stac (‘Student Accommodation’) is a fully tax-deductible investment into a portfolio of property-backed student accommodation operations situated in strategically located student hotspots across South Africa. The investment aims to provide investors with a return in excess of c. 17% per annum (after fees and investor exit tax). Now in its second year, Westbrooke Stac has raised approximately R360 million in third party capital, with investment deployment and investor returns having been in line with targets to date.
Key investment highlights
|100% tax deductible in the year of investment|
|A portfolio of income-generating student accommodation properties in partnership with established and reputable student accommodation operators that have proven track records in the industry|
|A c. 10% – 11% dividend yield based on the net investment (paid semi-annually)|
|A strong capital growth underpin driven by c. 5% per annum rental escalations in the underlying properties (as a conservative base-case assumption), as well as the potential for yield-compression on exit|
|A defined exit after 5 years, through either a listing, sale to a REIT or open-market disposal|
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