The Investa Commercial Property Fund (“ICPF” or “the Fund”) has been recognised as the number one performing wholesale office fund over one, three, five, seven and 10 years according to the latest MSCI/Mercer Australia Core Wholesale Property Fund Index (Core Funds – Office), as at 30 June 2025.1
ICPF delivered a standout performance in FY25, outperforming the benchmark by 3.1 percent and strengthening its position as a leading fund among its peer set. Strategic capital management initiatives, including the sale of 135 King Street, Sydney to Daibiru earlier this year, the settlement of 39 Martin Place, Sydney – a counter-cyclical acquisition made during the pandemic – and its prime-grade, high quality portfolio assisted the Fund in delivering an annual return of 1.9 percent. In contrast, the MSCI/Mercer Australia Core Office Benchmark ended the financial year down 1.2 percent.
Encouragingly, the Office benchmark on the MSCI/Mercer Australia Core Wholesale Property Fund Index recorded its second consecutive quarter of positive returns – a milestone not seen in more than two years and a clear signal of recovery of Australia’s commercial office sector.
Brendan Looby, ICPF Fund Manager and Head of Asset Management, said “We're proud to see ICPF continue its strong trajectory across short, medium and long-term horizons and hold its position as the top performing Fund for these time periods.
“The Fund offers investors a highly aligned, performance-driven platform managing a curated prime-grade portfolio. As market conditions begin to shift, we're optimistic about the resurgence in prime office. With tailwinds in occupier demand, particularly in prime assets and anticipated rate cuts, investor sentiment is turning, and pricing support is strengthening.
“ICPF offers exposure to a prime-grade portfolio with a dominant Sydney CBD weighting and will shortly be in the market for an equity raise which is expected to resonate well with the market.”
Adam Crowe, Chief Investment Officer at Investa, said “ICPF’s performance underscores our unwavering commitment to deliver long-term value for our investors and owners. Despite market volatility, the Fund has demonstrated sustained resilience, driven by its disciplined adherence to its focused strategy. With the lowest gearing in its peer set, ICPF is well placed to take advantage of compelling opportunities, which will further enhancing its long-term return prospects.”
Established in 2002, ICPF is one of Australia’s leading unlisted wholesale office funds, designed to generate long-term total returns through market cycles and consistently outperform the MSCI/Mercer Australia Core Office Benchmark.
ICPF’s investor base includes some of Australia’s largest superannuation funds and global institutional investors. ICPF offers institutional investors exposure to a diversified portfolio of prime grade CBD office assets. The Fund’s portfolio of 15 office assets is valued at around A$5.4 billion and is circa 90 percent occupied, with a weighted average lease expiry of about five years as at 30 June 2025. The Fund’s portfolio includes interests in some of Australia’s landmark office buildings, including 39 Martin Place, 60 Martin Place and 126 Phillip Street in Sydney, 120 Collins Street in Melbourne and QV1 in Perth.
1 Excludes the ISPT 50 Lonsdale Street Property Trust, a single asset trust.
