Accordia Golf Trust setting its sights on $616m acquisitions by 2017

More golf courses are in the pipeline.

After Accordia Golf Trust’s stellar debut on the SGX, its trustee-manager Accordia Golf Trust Management today revealed its plans to acquire approximately JPY50 billion (S$616 million) of golf course assets by the financial year ending March 31, 2017.

The firm also reiterated its goal to deliver a distribution per unitof 6.2 Singapore cents for the financial year ending March 31, 2015.

Separately, AG Trust also released its first monthly report, which notes a 0.5% y-o-y increase in visitor numbers to the 89 golf courses in AG Trust’s initial portfolio in the month of August 2014, due to greater demand.

“Over the next three years, we plan to selectively scale up our portfolio through potential acquisitions via our Sponsor’s pipeline of quality golf courses and driving ranges in Japan. These acquisitions will potentially enhance the value of AG Trust’s portfolio value, thereby improving income and distributions growth to our unitholders.” said Mr. Yoshihiko Machida, Chief Executive Officer and Executive Director of the AG Golf Trust Management.