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BWF - BLACKWALL LIMITED


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  • 5 years later...

now here's a Property Trust with a difference. It as been doing quite well in its 5 years of existence, positioning as a 'distressed debt and turnaround' story ... though this performance may well relate to the cycle, and specific demand for its niche offerings.

Blackwall Limited (BWF, formerly Blackwall Property Funds Limited) is a vertically integrated property funds manager. It manages, develops and finances income producing real estate on behalf of retail, high net worth and institutional property investors.
Market cap of $50mill, and success will be dependent on project flow.

- project at 55 Pyrmont Bridge Road on the fringe of the Sydney CBD was acquired in an $80m distressed debt play with NAB's strategic business services group in 2014.

- Rights issue last year to take full control.... then reconfigured the 14,500 square metre 'technology and media hub' and filled it with smaller tenants on more flexible arrangements, through its WOTSO Workspace subsidiary, plus a new coffee shop, two Little Learning Childcare centres and a Jump learn to swim centre.

- building also houses US telco Verizon's Asia-Pacific data centre, IAG's low cost insurance business Satellite, research and technology services provider Data Processors and web hosting business Digital Pacific.

- creating a vibe seems to work.... tech workers seem to congregate in hubs; definitely the new jobs for fintech/ IT and related seem to be in city fringe/ inner suburbs, of the larger metropolitan areas

- also looking to develop the Bakehouse Quarter in Sydney's inner west (6Ha in Strathfield) - former Arnott's factory, and develop residential, commercial and retail / entertainment spaces

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