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The RBF Board has a continuing commitment to investing in Tasmania and Tasmanian business where appropriate, and looks for new opportunities that would provide good returns for members.
As at 31 December 2009, the Board's investments in Tasmania represented approximately 9% of total investments and included:
- The multi-level office building at 21 Kirksway Place Hobart (leased to Aurora)
- The Stoney Rise government office building in Devonport
- Over $165 million in first mortgages
- Shares in Tasmanian Gateway Holding Limited, the company which owns Hobart Airport.
The Board successfully sold the Hobart Myer site for $16 million and settlement was 29 January 2010.
RBF invests in Tasmania's future...
The Tasmanian Gateway Consortium purchased the Hobart International Airport for $350.5 million in January 2008.
RBF is a significant investor in the Consortium led by Macquarie Group and is proud to be associated with this leading global airport infrastructure investor and asset manager. This strategic investment aligns with RBF's investment philosophy of securing exposure to quality assets in the best interests of our members. As a co-investor in the Consortium, RBF has taken a non-controlling indirect interest in the asset.
This asset provides strong underlying cash flows and attractive long-term return potential. Hobart International Airport is considered a quality asset with attractive returns and low volatility due to the domestic passenger base.
The Consortium's vision is to grow and develop Hobart Airport's principal airport status and continue to maintain a safe and secure airport environment. The Hobart International Airport is a high-quality infrastructure asset with good growth prospects.
An updated 5 year Masterplan for the airport was submitted for approval to the Federal Minister for Transport in December 2009.
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