Trilogy & Sumner Capital Offer 7% pa on Pymble Office Trust

29 January 2021

Triology Funds Management in conjunction wtih Sumner Capital are offering wholesale investors a long-term investment, competitive income and an opportunity for capital growth from a sought-after property asset class in a prime location.

The Group have acquired 3 Bridge Street Pymble, a fully leased 2,626sqm building, fully leased to UGL Pty Ltd, a wholly owned subsidiary of ASX-listed CIMIC Limited.

The current lease to UGL expires on 30 June 2025 and has 1 x 5 year option that can be exercised by the tenant.

The asset is situated on a large 2,964 sqm site with the opportunity to expand the gross floor area to over 10,000 sqm. Trilogy & Sumner intend to take advantage of this opportunity by applying to local council for development approval during the life of the Trust.

The Groups are seeking to raise $10.1M for the investment via an 6 year unlisted wholesale unit trust offering with an expected distribution of 7% per annum.

Responsible EntityTrilogy Funds Management Limited
ACN 080 383 679 AFSL 261425
Fund ManagerTrilogy Funds Management and Sumner
Fund Size Target$10.1m
Fund OpenJanuary 2021
Fund Raising CloseTBC
Fund Term6 years
Target Return7% distribution yield
Investor TypeWholesale
Target Assets3 Bridge Street, Pymble

Our Views

We provide the following information as general advice and not specific advice for any particular investor.


  • The Manager(s) are well established with a strong track record
  • The Fund has identified a seed assets which can be reviewed in further detail.
  • The asset is leased to a wholly owned subsidiary of an ASX listed tenant providing support to the lease income


  • The Trustee is not yet identified
  • The commercial office market in Pymble is weak. There is a reasonably high level of vacancy as the precinct is not as accessible or has the same level of amenity as other markets (ie Macquarie Park).
  • Trilogy have not stated in the Fund Flyer, their total return expectations.

Our view is that Triology will raise sufficient capital for the fund, however capital growth will be limited.