Centro MCS Syndicates

Frequently Asked Questions

How do I invest?
Centro MCS syndicates are not listed on the Australian Securities Exchange (ASX) therefore you can invest directly by completing an application form found in the Product Disclosure Statement (PDS) or via your Financial Planner, Adviser or Centro Authorised Representative.

There are currently no syndicates open for investment.


What is the minimum investment?
The minimum investment amount can vary between syndicates. Please refer to the Product Disclosure Statement or Prospectus for the minimum investment amount.
How long is the syndicate term?
The initial term for Centro MCS syndicates is typically 5 to 7 years, however this can vary between syndicates.

Upon maturity of this initial term, investors are given the option to exit the fund, or continue within the syndicate for another term. Again, typically this is for an additional 5 to 7 years.
How much commission do advisers get paid?
For details of commission payable for your particular syndicate, please refer to the relevant Product Disclosure Statement (PDS).
What is a Security holder Reference Number (SRN)?
The SRN is your investor number, and identifies you as the owner of your securities within Centro MCS.

SRN’s begin with the letter ‘I’ followed by a series of numbers e.g. I20020000000 and can be found on your investment confirmation statement and your distribution statements.

You should quote your SRN whenever you correspond with Centro Investor Services.
When are distributions paid?
Distributions for all Centro MCS syndicates are paid quarterly as outlined below:

Quarter End Approximate Payment Date
September
End of October
December
End of January
March
End of April
June
End of July

NOTE: Distributions for the December 2007 quarter will be paid on 4 February 2008. International Syndicates will pay their distributions in the week commencing 11 February 2008.

Distribution payment dates for the international syndicates (Centro MCS 32, Centro MCS 35, Centro MCS 36) are made approximately one week later.

For a summary of distributions paid on all syndicates since inception and the estimated reduced cost bases click here.
What should I do if my distribution cheque has been lost or not received?
Please contact Centro Investor Services to request a cancellation and reissue of the cheque.

Are you aware that you are able to get your distribution paid directly into a nominated bank account, building society or credit union avoiding such problems in the future and giving you instant access to your funds?

Simply complete a Request for Direct Credit of Payments form and return it to Centro Investor Services.
How often are the Shopping Centres valued?
Independent valuations are undertaken every 12 months on all shopping centres within the Centro MCS syndicates. Centro also carries out internal valuations on each of these properties on a 12 monthly basis, alternating every 6 months with the independent valuations.

Therefore, a new valuation is undertaken every 6 months.
What is my investment currently worth?
To calculate the value of your investment, multiply the current Net Asset Baking (NAB) by the amount of equity you originally invested.
What is a NAB?
NAB is an abbreviation for Net Asset Backing. Centro MCS has adopted a Net Asset Backing approach to syndicate unit valuation. Centro MCS believes the NAB unit value is the most appropriate way to reflect the fair value of the underlying investment by taking into account the fixed term, illiquid nature of a syndicate.

Centro MCS releases updated NAB’s every 6 months.

Latest NAB Valuations
When will I receive my annual taxation statement?
Annual taxation statements are mailed to investors at the end of August each year.

The annual taxation statement shows the taxation components of the distribution payments made throughout the year. Investors should wait to receive this statement before lodging their tax return.
Do I have to tell you when I change financial advisers?
You are not obliged to advise us when you change financial advisers, however to ensure that your adviser is able to obtain information regarding your investment, it is best that you do notify us.

A letter confirming your new adviser’s details, signed by all security holders should be sent to Centro Investor Services to register this change.

How do I update my personal details?

Place your request in writing, signed by all securityholders, quoting your SRN, clearly stating the details of the change required and mail to Centro Investor Services.

Depending on the change required, there may be a relevant form: 

Change of address 
Complete a Change of Address Request form.

Change of name
How you change your name on your holding will depend upon your individual circumstances.

A Name Correction Request and Indemnity form will need to be completed and returned to Centro Investor Services. Please note that we are unable to accept requests by facsimile, email or phone.

The completed form should be accompanied by relevant supporting documentation. If you are signing under a power of attorney, a certified copy of the original power of attorney must be lodged with us for noting (if not already noted). Supporting documentation requirements differ, depending on the reason for the change of name.

Change of name by Marriage
We also require a certified copy of your marriage certificate.

Change of Maiden Name
If you wish to revert to your maiden name, we require a certified copy of your marriage certificate. 

Change of name by Deed Poll
We require a certified copy of the deed poll. 

Change of Company Name
We require a certified copy of the Certificate of Registration of Change of Name. 

Name Correction 
Complete a Name Correction Request and Indemnity form.

Use this form to correct the spelling of registered security holder name/s or to change the Account Designation (name of trust). You can only change the Account Designation if all security holder name/s (trustees) remain the same.

How do I change my bank account details?
A Request for Direct Credit of Payments Form needs to be completed and returned to Centro Investor Services
How do I register a Tax File Number (TFN), Australian Company Number (ACN) and/or Australian Business Number (ABN) on my holding?
A TFN and ABN Notification form will need to be completed and returned to Centro Investor Services.
Alternatively you may contact the Centro Investor Services Team who will accept these details over the phone, fax or email.
How do I change the name of a trustee?
A Standard Transfer Form must be completed and returned to Centro Investor Services in order to change, add or remove security holder/s (trustee/s) name/s on an investment.

A change of security holder/s (trustee/s) is deemed a change in beneficial ownership and therefore can only by amended in this manner.
How do I change the name of the trust in which I am a trustee?
A Name Correction Request Form needs to be completed and returned to Centro Investor Services.

Alternatively, place your request in writing, signed by all security holders clearly stating the details of the change and quoting a Securityholder Reference Number (SRN).

Please note an Account Designation (Trust) can only be changed if beneficial ownership remains the same. If there is a change to a security holder name, a Standard Transfer form must be completed.

Is there a secondary market that I can use to purchase units in exiting syndicates?
No, there is no secondary market for these investments.
Can I transfer the ownership of my investment to someone else?
Yes, you will need to complete an off market Standard Transfer form ensuring all security holders sign where indicated.

If the buyer or beneficiary is an existing investor in Centro MCS they are able to quote their existing SRN on the transfer form to ensure their new investment is added to their existing investments.
Is stamp duty payable when I sell / transfer my investment?
No. All Centro MCS syndicates are registered in Victoria. Currently, there is no stamp duty applicable for these transactions.
How can I exit / redeem my holdings?
All Centro MCS syndicates are fixed term investments. Typically, investors do not have the ability to exit the syndicate until the end of the syndicate term.
How should I deal with a deceased estate?
To change the holding into the name of the estate a certified copy of the death certificate and will or probate (if required) will need to be sent to Centro Investor Services to be noted on the register.

Please refer to our registry, LINK Market Services for further information on administering a deceased estate.
What is probate and when is it required?
Probate is a court order saying that the will is valid and that the executor has the right to administer the estate. The whole process of administering an estate commonly takes at least a year.

It is usually the executor's job to obtain a grant of probate from the court when the total value of an estate exceeds AUD$15,000.00.
What is a certified copy?
A certified copy, is a copy of an original document that has been certified as a true and correct copy by a person who is authorised to witness a statutory declaration. Persons who are authorised to witness statutory declarations (under the Commonwealth Statutory Declarations Act 1959) include:
  • Accountant (Chartered or Certified)
  • Clerk of a Court
  • Commissioner for Affidavits
  • Commissioner for Declarations
  • Dentist
  • Justice of the Peace
  • Legal Practitioner
  • Magistrate
  • Medical Practitioners
  • Nurse
  • Pharmacists
  • Police Officer
  • Post Office Manager
  • Sheriff or Sheriff's Officer
  • Teacher
  • Veterinary Surgeon
How do I contact Centro Investor Services?
Centro Investor Services
Corporate Offices 3rd Floor
Centro The Glen
235 Springvale Road
Glen Waverley Victoria 3150
Toll Free: 1800 802 400 (within Australia)
Phone: +61 3 8847 1802
Fax: +61 3 8847 1868
Email: investor@centro.com.au  
Hours: 8.30am to 5.00pm EST Mon-Fri