Aventus listed on the ASX at $2 last October to a largely unreceptive audience, as other more beguiling IPO’s caught investor’s attention. Our confidence in the property trust sector had been building at this time, prompting a closer look, and eventually, participation in the initial public raising. We were attracted to the story by its prized east coast land holdings (1.1million m2 in total, 470k m2 GLA), progressive management and a superior outlook for earnings and distribution growth. Eley Griffiths Group went on to add to its holding in the weeks after the float and in the recent raising. Aventus comprises a portfolio of 15 (soon to be 20) large format retail (LFR) property assets, predominantly in metropolitan/major regional areas in the SE corner of Australia. The nation’s leading retailers comprise 83% of the property portfolio.