The AMP Capital Property Income Fund (PIF) has sold its last property asset for $23 million.
The Yass Highway Service Centre was the last of the fund’s 42 assets sold, an AMP capital statement said.
AMP Capital head of property funds management Chris Judd said: “Investors have benefited from a consistent and disciplined acquisition strategy, strong asset management and prudent divestment of assets that has delivered a total return in excess of nine per cent.
“We are pleased to complete PIF’s final transaction and that the fund was able to capitalise on the strong market appetite for quality service centres in good locations.
“This sale marks a significant achievement that has seen the fund deliver what it set out to deliver to investors – providing steady income with capital growth over the investment period,” Mr Judd said.
Properties within the fund have been progressively sold and capital returned over the last few years, the statement said.