Auslink Property Trust No. 2

year established
total asset value
98% occupancy
12.5% performance to date

Fund summary

The Auslink Property Trust No 2 was launched in 2014 with the objective of building a portfolio of Commonwealth and State Government leased assets located throughout Australia to provide investors with a stable and growing income stream, and long term capital growth.

Key Features
  • Attractive distribution yield with tax advantages
  • Rental income underpinned by the Commonwealth and State Government
  • Quality, highly specified, environmentally sustainable assets
  • Property Location diversification throughout Australia

Fund Overview

Fund Type
Unlisted Unit Trust
Commonwealth & State Government leased assets
Debt Strategy
Less than 50%
Wholesale & Retail
Minimum investment
Distribution Frequency
Performance to date
Current Distribution Rate
9.8 cents per unit
Current Unit Price
How to apply

Contact us to register interest.

Investment Overview

Total Asset Value
$515 million
No. of Assets
Total Net Lettable Area
Tenant Profile
Commonwealth & State Government
Property Locations

Existing Investors

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  • Quarterly Updates
  • Distribution Statements
  • Tax Statements
  • Financial Reports

Prospective Investors

The fund will open again when a new property investment is secure. To register your interest Contact us.

Board of Directors

  • Carl Colour

    Carl Rooke

    Independent Chairman

    Carl is a former National Chairman of Horwath Australia and currently acts as a consultant to BDO Chartered Accountants. Carl commenced his career in Chartered Accounting in 1970 and established his own firm in 1974. Carl is a Director on a number of large private company boards and is a Fellow of the Institute of Chartered Accountants and the Institute of Company Directors. Carl has a history of successful business practice with over 30 years experience in management, accounting and finance.

  • Peter Colour

    Peter Ryan


    Peter was a Member for Gippsland South for 22 years. Serving as Leader of the Victorian Nationals for 15 years, and was the Deputy Premier of Victoria from 2010 to 2014. Peter has a deep knowledge of corporate and political governance based on 20 years in legal practice prior to a career in politics. He is a highly skilled negotiator and trained qualified mediator.

  • Hank Colour

    Hank Bronts


    Hank is a member of the Institute of Company Directors. He has been successfully providing property development and asset management services in the government sector space since 1990. During his career, Hank has delivered and managed more than 30 buildings, advising on equity and debt finance, project feasibility, site selection, planning, design, construction and asset management.

  • Peter Colour

    Pearse Morgan


    Pearse has gained extensive experience in funds management, property development and investment, having been involved in raising funds for commercial office developments and investments, and ongoing finance and accounting roles since 1990. Pearse is a Chartered Accountant, a Certified Financial Planner and a member of the Institute of Company Directors.

  • Jason Colour

    Jason Bronts


    Jason brings experience in funds management, property development and property finance having worked for Macquarie Bank in Sydney, KordaMentha in Melbourne, Legal & General Investment Management in London, and more recently with Castlerock. Jason holds bachelor degrees in Commerce and Engineering.

  • Vince colour

    Vince Peluso


    Vince is a member of the Financial Planning Association of Australia and has been a director of RGM Financial Group since 2002. Prior to RGM Vince was employed by Westpac Banking Corporation for 28 years in management positions within corporate and commercial finance.

  • Carl BW
  • Peter BW
  • Hank BW
  • Peter BW
  • Jason BW
  • Vicne BW


117 Brisbane Street, Ipswich
117 Brisbane Street

117 Brisbane Street - Ipswich

The Icon building in Ipswich’s CBD located at 117 Brisbane Street is a nine-story, 17,870 square metre building (17,080 office/790 retail). The Queensland State Government is the major tenant on the 15-year lease expiring in September 2028, and accounts for more than 91% of the net lettable area.

The A-grade building was developed in 2013, boasting 207 basement level car parks, 120 bicycle parking stations, high quality internal space with high level of natural light and winter gardens on office levels. The Icon building is the first 5-star Green Star and 5.5-Star NABERS rating in Ipswich.

Castlerock acquired the building in July 2021.

  • Property address
    117 Brisbane Street, Ipswich QLD
  • NABERS rating
  • Tenants
    Queensland State Government
Butler 1
Butler 2

225 Butler Boulevard, Butler

Castlerock is thrilled to be further cementing our relationship with the Western Australian Government with the development of a new $8 million bespoke office building in the northern Perth suburb of Butler.

The 1,100sqm building which is due to be finished by mid-2022 is located at 225 Butler Boulevard, Butler and has already signed a 15-year lease with the WA State Government.

The new purpose built, and designed property will also feature a number of Castlerock’s staple inclusions of a 40kW solar array to reach a 5-star NABERS rating, and a commitment to employing minimum 75 per cent local labour throughout the development.

Reducing the reliance on car parking is also a priority with the building including End-of-trip (EOT) facilities, such as change rooms, bicycle parking and showers, a strategy that has the support of the State Government for smaller buildings.

  • Property address
    225 Butler Boulevard, Butler
  • Tenants
    WA State Government

445 Flinders Street - Townsville

Completed in 2013 this landmark building at 445 Flinders Street in Townsville was purpose built for the Queensland State Government. 

It is one of the region’s most strategically important buildings, home to the Queensland Government’s North Queensland Recovery Centre, which because of its critical nature, was uniquely designed and built to Importance Level 4 and is able to operate without power or water for up to five days.

With a 5-star Green Star Rating, 5.5 Star NABERS rating and Australia’s first 5.5-star Indoor Air Quality rating, the building brings together the Department of Transport and Main Roads, the Department of Natural Resources and Mines and the Department of Health and Education.

  • Property address
    445 Flinders Street, Townsville QLD
  • NABERS rating
    6 Stars
  • Site area
  • Tenants
    Queensland State Government
    Bambini (cafe)

ATO Wollongong

45 Kembla Street is a five level premium A-grade commercial building and is considered the preeminent office space in the Wollngong CBD. Purpose built for the ATO and completed in 2013 with 92 car spaces over two basement levels, the building is also home to ANZ Business Bank and The Australian Red Cross Blood Service as well as a popular cafe.

  • Property address
    45 Kembla Street, Wollongong
  • NABERS rating
    5.5 Stars
  • Site area
  • Tenants
    Australian Red Cross
    ANZ Business Bnk

Kangaroo Flat - CFA District and Regional Control Centre

Castlerock successfully developed a new control centre to CFA in Kangaroo Flat, which will be used to manage larger bushfires across District 2 and the North West Region.

The new District and Regional Control Centre provides a state-of-the-art base from which CFA will operate from in times of emergency, replacing an older centre in Bendigo and catering for staff from several other locations.  

  • Property address
    29 Lockwood Road, Kangaroo Flat, Vic 3555
  • NABERS rating
  • Site area
  • Tenants
    Country Fire Authority
GovHub 1
GovHub 2
GovHub 3

Latrobe GovHub

Completed in 2021, the Latrobe Valley GovHub located at 65 Church Street Morwell, is a purpose-built facility that houses up to 300 Government employees, including Earth Resources Regulation, Parks Victoria, and Solar Victoria.

The award-winning development includes extensive CBD quality end-of-trip facilities, and a 99kW solar array on the roof which will assist in achieving a NABERS 5.5-star rating.

Additional features include EV charging stations and zoned music throughout the entire building, with the purpose of increasing staff engagement.

Located on the bottom floor of the building, Castlerock has acquired an operator to run an on-site café who understands the vision of the Morwell community.

Castlerock developed the Morwell Latrobe Valley GovHub after the existing site was demolished in March 2019, with Castlerock’s construction beginning in July 2019.

  • Property address
    65 Church Street, Morwell
  • NABERS rating
    4.5 Star
  • Site area
  • Tenants
    Victorian Government


20-24 Charles Street is a prime commercial office building located in the heart of Launceston and once complete will predominately be tenanted by the Tasmanian State Government .

The City of Launceston is the second largest city in Tasmania, strategically located within regional Northern Tasmania. Launceston’s diverse and resilient economy is underpinned by a rebalancing of industry and growth in health, education, professional services and retail sectors over the past decade.

  • Property address
    20-24 Charles Street, Launceston, Tasmania, 7250
  • NABERS rating
    5 Star target
  • Site area
  • Tenants
    Tasmanian State Government
    Roberts Real Estate
    Cafe Tenancy


  • Property address
    44 Nelson Street, Mackay
  • NABERS rating
    5.5 Star
  • Site area
  • Tenants
    Queensland State Government

Melton - Justice Service Centre

Castlerock successfully completed the development of the new Department of Justice, Regulation and Community Safety building in Melton.

As part of the project, Castlerock completed a full integrated fit-out for the Department saving both time and money.

  • Property address
    2a Barries Road, Melton
  • NABERS rating
    4.5 Star
  • Site area
  • Tenants
    Department of Justice, Regulation and Community Safety
Mirabooka 4
Mirabooka 5
Mirabooka 3
Mirabooka 2
Mirabooka 1
Mirabooka 6

Mirrabooka - State Government office

Completed in 2017, 5 Milldale Way, Mirrabooka is a 6,500m2 office facility which was purpose built for the Western Australian Government. The building provides a vital customer facing facility for the Department of Housing, Department Communities and Department Justice.

Along with an extensive 95 car secure basement, the facility also provides modern end-of-trip facilities including 57 secure bicycle racks, showers and lockers and at-grade parking for customers. An on-site cafe has been included provide amenity to both the staff and surrounding areas.


  • Property address
    5 Milldale Way, Mirrabooka, Western Australia
  • NABERS rating
    5.5 Star
  • Site area
  • Tenants
    Western Australian Government

South Hedland - Child Protection Services

Castlerock completed the development of a new customer facing facility for the Department of Communities in South Hedland WA.

  • Property address
    22 Hamilton Road, South Hedland
  • NABERS rating
    5 Star
  • Site area
  • Tenants
    Western Australian Government

Warragul - Justice Service Centre

Castlerock successfully completed the development of the new Justice Service Centre for the Department of Justice, Regulation and Community Safety building in Warragul.

As part of the project, Castlerock completed a full integrated fit-out for the Department saving both time and money.

  • Property address
    12 Queen Street, Warragul
  • NABERS rating
    4.5 Star
  • Site area
  • Tenants
    Department of Justice


This information has been prepared by Castlerock Funds Management Limited ACN 125 737 091 AFSL 318368 (CFM) for information purposes only and does not take into account your individual objectives, financial situation or needs. This website is not an offer to sell or a recommendation to purchase units in the Trust. Before investing you should read the Information Memorandum in full and consider you own objectives, financial situation and needs including obtaining independent financial, taxation and legal advice before making any decision about whether to acquire units in the Trust.