Portfolio Summary. Challenger Diversified Property Group as at 31 December 2012

Transcription

1 Portfolio Summary Challenger Diversified Property Group as at 3 December 202 Challenger Diversified Property Group comprising: Challenger Diversified Property Trust (ARSN ) Challenger Diversified Property Trust 2 (ARSN ) Responsible Entity Challenger Listed Investments Limited (ABN ) (AFSL )

2 Portfolio summary Property Office portfolio Location Net lettable area (sqm) Occupancy at 3 Dec. 202 (by income) (%) Weighted average lease expiry (by income) (years) Date acquired ABS House Belconnen, ACT 3, Oct Queen Street Melbourne, VIC 9, Mar-20 DIAC Building Belconnen, ACT 29, Oct-2006 The Forum, Cisco St Leonards, NSW 6, Oct-2006 Discovery House Woden, ACT 22, Oct-2006 Makerston House Brisbane, QLD 4, Oct-2006 The Forum, Verizon St Leonards, NSW, Oct-2006 Elder House Adelaide, SA 4, Oct-2006 Executive Building Hobart, TAS 9, Oct-2006 Office portfolio total/average 69, Retail portfolio Jam Factory South Yarra, VIC 20, Oct-2006 Century City Walk Glen Waverley, VIC 8, Jun-2008 Innaloo Cinema Centre Woodlands, WA, Oct-2006 Kings Langley Shopping Centre Kings Langley, NSW 4, Oct-2006 Retail portfolio total/average 44, Industrial portfolio Distribution centres The Junction, Stage 2 Enfield, NSW 20, Jul-202 The Junction, Stage Enfield, NSW 3, Dec Foray Street Fairfield, NSW 8, Oct-2006 Spotlight Laverton North, VIC 20, Oct Toll Drive Altona North, VIC 3, Oct Toll Drive Altona North, VIC 6, Oct Toll Drive Altona North, VIC 3, Oct-2006 Distribution portfolio total/average 96, High tech Taylors House Waterloo, NSW, Oct Todd Road Port Melbourne, VIC 9, Oct-2006 High tech portfolio total/average 20, Industrial portfolio total/average 7, Australian portfolio total/average 330, French portfolio Sully Sully sur Loire 5, Jun-2007 Aulnay Aulnay sous Bois, Paris 5, Jun-2007 Beziers Rue Charles Nicolle 9, Jun-2007 Gennevilliers Gennevilliers, Paris 7, Jun-2007 Tours Parcay Meslay, Tours 5, Jun-2007 French portfolio total/average 42, Investment portfolio total/average 373, Development portfolio The Junction, Stage 3 Enfield, NSW N/A Mar-2007 Development portfolio total 2

3 Prior period valuation ($m) Prior market cap rate (%) Current valuation ($m) Current market cap rate (%) change ($m) Discount rate (%) Valuer Book value 3 Dec. 202 ($m) Average gross passing rent ($/sqm) Average gross market rent ($/sqm) Asset values ($/sqm) (0.9) 9.25 Director , Director , Director , m3 property , (.4) 9.25 m3 property , (.3) 9.50 m3 property , m3 property , (0.9) 9.75 JLL , Director , , JLL , Director , Director , Director , , Director , Knight Frank , (0.3) 0.00 Director (0.3) 0.25 Colliers Director , (0.7) 9.50 Colliers (0.0) 0.50 Director , (0.6) , (.7) 9.75 Colliers , (0.) 0.00 m3 property , (.7) , (2.4) , , (0.8) Knight Frank Knight Frank , Knight Frank , Knight Frank , Knight Frank , , ,935 $m $m $m Director

4 4 Our properties

5 Property summaries ABS House 45 Benjamin Way, Belconnen, ACT 3 Queen Street 3 Queen Street, Melbourne, VIC DIAC Building 6 Chan Street, Belconnen, ACT 3,050 sqm Car spaces years $457 psm $420 psm $86.7 million $86.7 million date December 202 Capitalisation rate 8.25% 4.5 star The property is located in Belconnen, approximately 0 kilometres north-west of the Canberra CBD. The A grade building was completed in 2002 as the national headquarters for the Australian Bureau of Statistics (ABS), and comprises two seven-level office wings joined by a glazed roof atrium. The property provides basement parking for 60 vehicles and on-grade for 340 vehicles. Government 99.0 FY 207 9,339 sqm Car spaces 72 Occupancy 9.5% years Mix of CPI-linked and fixed reviews $480 psm $483 psm Date acquired March 20 $93. million $93. million date December 202 Capitalisation rate 8.00% 2.5 star A 27 level office building comprising ground floor retail, 2 upper levels of office accommodation and five levels of basement parking for 72 vehicles. The building is undergoing a progressive refurbishment program including upgrade of the ground floor foyer and facade, lifts, numerous upper level lift lobbies, and major items of plant and equipment. OZ Minerals 9.5 FY 206 Defence Bank 8.5 FY 202 Hyder Consulting 0.3 FY 206 AJF Partnership 8.0 FY ,530 sqm Car spaces years $358 psm $375 psm $7.7 million $7.7 million date December 202 Capitalisation rate 8.00% 4.5 star The property is located in Belconnen, approximately 0 kilometres north-west of the Canberra CBD. The A grade building was completed in November 2004 as the national headquarters for the Department of Immigration and Citizenship (DIAC), and comprises two six-level office wings, basement parking for 00 vehicles and on-grade for approximately 425 vehicles. The site also includes vacant land available for development. Government 98. FY Office only. 5

6 Property summaries (continued) The Forum, Cisco 20 Pacific Highway, St Leonards, NSW Discovery House 47 Bowes Street, Woden, ACT Makerston House 30 Makerston Street, Brisbane, QLD 6,584 sqm Car spaces 262 Occupancy 99.6% years Mix of turnover-linked, CPI-linked and fixed reviews $597 psm $580 psm $66.6 million $66.6 million date December 202 Capitalisation rate 8.50% 3 star The property is a landmark development located directly above the St Leonards railway station on Sydney s lower north shore, approximately six kilometres north of the Sydney CBD. The A grade building was completed in 2000 and comprises 20 retail tenancies, 0 floors of office accommodation and basement parking for 262 vehicles. Cisco Systems 38.0 FY 207 Flexi Rent 23.9 FY 205 HCN 7.3 FY 207 NAB 6.4 FY ,239 sqm Car spaces years $428 psm $45 psm $60 million $60 million date December 202 Capitalisation rate 8.00% Stage 4.5 star Stage 2 5 star The property is located in Woden, approximately 0 kilometres south of the Canberra CBD. The property comprises two stages, the first completed in 997 and the second in 2007, when the building was extended and IP Australia renewed its lease for 5 years. The whole building now comprises a well integrated design and construction between the new and old sections, with contemporary accommodation and finishes. The total accommodation comprises 20,642 sqm of office,,44 sqm of storage, 56 sqm of retail (café), 80 basement car parks and 58 on-grade car parks. Government 00 FY ,650 sqm Car spaces 80 Occupancy 85.0% years $550 psm $524 psm $43.8 million $43.8 million date December 202 Capitalisation rate 9.00% 4.5 star The property is located on the western fringe of the legal precinct of the Brisbane CBD, approximately 65 metres south-west of the Brisbane Transit Centre. The building comprises a ground floor, upper levels of office and five levels of basement parking and storage. QLD Police 35.0 FY 204/ 205 Tourism Queensland 5.3 FY 209 Shine Lawyers 3.2 FY Office only.

7 The Forum, Verizon 203 Pacific Highway, St Leonards, NSW Elder House Currie Street, Adelaide, SA Executive Building 5 Murray Street, Hobart, TAS,73 sqm Car spaces 5 Occupancy 68.5% 2.8 years Mixture of fixed, market and CPI-linked reviews 2 $533 psm 2 $545 psm $4.8 million $4.8 million date December 202 Capitalisation rate 8.75% 3 star The property is a landmark development located directly above the St Leonards railway station on Sydney s lower north shore, approximately six kilometres north of the Sydney CBD. The A grade building was completed in 2000 and comprises seven retail tenancies, 0 floors of office accommodation and basement parking for 5 vehicles. 4,086 sqm Car spaces years $440 psm $378 psm $27.0 million $27.0 million date December 202 Capitalisation rate 9.25% 4 star The property is located in the core of the Adelaide CBD, and incorporates the heritage section of the former Elder House, constructed in 940. The A grade building comprises a ground level, six upper levels of office accommodation and a basement area, which were substantially refurbished and extended in ,887 sqm Car spaces years Market reviews $379 psm $389 psm $20.5 million $20.5 million date December 202 Capitalisation rate 8.75% 3.5 star The property is located in the core of the Hobart CBD. The A grade building was completed in March 987 and comprises nine levels of modern office accommodation and two levels of parking for 25 vehicles. Verizon 27. FY 205 Cardno 28.0 FY 209 Elders Limited 00 FY 206 The Crown in Right of the State of Tasmania 00 FY Office only. 7

8 Property summaries (continued) Jam Factory 500 Chapel Street, South Yarra, VIC Century City Walk Springvale Road, Glen Waverley, VIC Innaloo Cinema Centre 57 Liege Street, Woodlands, Perth, WA 20,27 sqm Car spaces,088 Occupancy 98.7% 7.4 years Mix of CPI-linked and fixed reviews $553 psm $553 psm $77.4 million $77.4 million date December 202 Capitalisation rate 7.75% The property is located on Chapel Street, South Yarra, approximately six kilometres south-east of the Melbourne CBD. Originally a manufacturing plant for jams and preserves, the property has been converted into a popular cinema and retail complex. The building comprises a 5-screen cinema complex, a retail precinct, office precinct and a five-level car park for 978 vehicles, with a further 0 vehicles at the Wilson Street car park. 8,289 sqm Car spaces 4.7 years Mix of CPI-linked and fixed reviews $450 psm $450 psm Date acquired 2 June 2008 $30.8 million $30.8 million date December 202 Capitalisation rate 8.50% The property is located adjacent to the Novotel Hotel on Springvale Road, Glen Waverley, approximately 26 kilometres south east of the Melbourne CBD. The building was originally completed in 998 and refurbished in 200. It comprises a 0-screen cinema centre, Strike bowling alley, seven restaurant and café tenancies and a bar plus gaming area situated around a ground level pedestrian mall.,550 sqm Car spaces, years Mix of CPI-linked, fixed and market reviews $399 psm $400 psm $26. million $26. million date December 202 Capitalisation rate 8.00% The property is located in Innaloo, approximately kilometres north-west of the Perth CBD. Originally a small cinema and drive-in complex, the property has undergone a staged redevelopment and today comprises a modern 6-screen cinema complex with on-site parking for,29 vehicles. Village Cinemas 32.6 FY 208 Village Office 22.3 FY 2025 Topshop 9.2 FY 2022 Village Cinemas 46.0 FY 2020 Century City 20.0 FY 205 Entertainment Greater Union 75.0 FY 209 Sizzlers 9.0 FY Initial 60% purchased October 2006, balance purchased 30 June 2008.

9 Kings Langley Shopping Centre 3 Ravenhill Street, Kings Langley, NSW The Junction Industrial Park (Stage 2) Cosgrove Road Enfield, NSW The Junction Industrial Park (Stage ) Cosgrove Road, Enfield, NSW 4,57 sqm Car spaces years Mix of turnover-linked, CPI-linked and fixed reviews $438 psm $443 psm $9.6 million $9.6 million date December 202 Capitalisation rate 8.75% 20,360 sqm Car spaces years Mix CPI/ with market $47 psm $47 psm Date acquired July 202 $34.5 million $34.5 million date December 202 Capitalisation rate 8.00% 3,437 sqm Car spaces 73 3 years $52 psm $46 psm Date acquired 2 December 2008 $20.5 million $20.5 million date December 202 Capitalisation rate 8.50% The property is located in Kings Langley, approximately 40 kilometres north-west of the Sydney CBD. The property is a neighbourhood shopping centre which comprises a Woolworths supermarket, a mezzanine area, nine specialty retail shops and on-site parking for 26 vehicles. The property is located on the fringe of the established central Sydney suburb of Enfield. The property comprises a new 20,360 sqm facility, of which Bunzl Australasia Limited lease 20,2 sqm. There is a cafe on site over the remaining 49 sqm. The property is located on the fringe of the established central Sydney suburb of Enfield. The property comprises a recently constructed industrial facility extending to a lettable area of 3,437 sqm. Woolworths 65.0 FY 2022 Network Video 5.0 FY 206 Commonwealth Bank 8.0 FY 208 of Australia Bunzl Australasia Ltd 99.3 FY 2022 K.W. Doggetts 00 FY 206 9

10 Property summaries (continued) 6 Foray Street 6 Foray Street, Fairfield, NSW Spotlight Boundary Road, Laverton North, VIC 2-30 Toll Drive 2-30 Toll Drive, Altona North, VIC 8,90 sqm Car spaces 25 Occupancy 85.7% 2. years $90 psm $88 psm $5.0 million $5.0million date December 202 Capitalisation rate 0.00% 20,723 sqm Car spaces years $77 psm $77 psm $7.0 million $7.0 million date December 202 Capitalisation rate 8.25% 3,885 sqm Car spaces years $5 psm $07 psm $4. million $4. million date December 202 Capitalisation rate 8.75% The property is located at Fairfield, approximately 29 kilometres west of the Sydney CBD, within close proximity of several major arterial roads including the Cumberland Highway, the M4 Motorway, Horsley Drive and Woodville Road. The property has been developed in various stages over the past 30 years, and today comprises two main manufacturing and warehouse buildings, commercial office facilities and a large parking area. IFC Warehousing 85.7 FY 205 and Distribution The property is located on Boundary Road, Laverton North, approximately 5 kilometres west of the Melbourne CBD. This is an established industrial area that is well serviced by major roads including Princes Freeway, which provides excellent access to the Western Ring Road, Westgate Freeway and Melbourne CityLink. The building was completed in November 999 and comprises warehouse and office facilities. Spotlight Stores Pty Ltd 00 FY 202 The property is located in Altona North, approximately 2 kilometres south-west of the Melbourne CBD. The site includes a warehouse facility, office accommodation, hardstand space, a security gatehouse, canopied areas, a weigh bridge, landscaping and parking for 25 vehicles. Toll Transport Pty Ltd 00 FY 206 0

11 2-0 Toll Drive 2-0 Toll Drive, Altona North, VIC -9 Toll Drive -9 Toll Drive, Altona North, VIC Taylors House 965 Bourke Street, Waterloo, NSW 6,273 sqm Car spaces years $02 psm $02 psm $5.7 million $5.7 million date December 202 Capitalisation rate 8.50% The property is located in Altona North, approximately 2 kilometres south-west of the Melbourne CBD. The site includes a warehouse facility, office accommodation, hardstand space and canopied areas. 3,239 sqm Car spaces years $34 psm $33 psm $3.9 million $3.9 million date December 202 Capitalisation rate 8.50% The property is located in Altona North, approximately 2 kilometres south-west of the Melbourne CBD. The site is currently utilised as a truck depot and comprises a singlelevel office, amenities and sleeping quarters building, a high clearance mechanic workshop and truck wash facility and a large four-bay undercover fuelling station. It also includes hardstand space and truck manoeuvring areas, landscaping and parking for 42 vehicles.,084 sqm Car spaces 96 Occupancy 92.2% years $465 psm $366 psm $25.2 million $25.2 million date December 202 Capitalisation rate 9.25% Exempt The property is located in Waterloo, approximately five kilometres south of the Sydney CBD. The building was completed in January 200, and comprises a ground floor retail area, four levels of office and college accommodation and basement parking for 96 vehicles. Toll Transport Pty Ltd 00 FY 203 WA Freightliners 3 00 FY 208 Toll Transport Pty Ltd 00 FY 206 Taylors College 85.4 FY Office only.

12 Property summaries (continued) 87 Todd Road 87 Todd Road, Port Melbourne, VIC Sully 05 Route d Orleans, Sully sur Loire, France Aulnay 54 Avenue de Savigny, Aulnay sous Bois, Paris, France 9,308 sqm Car spaces 350 Occupancy 25.% 0.9 years $37 psm $308 psm $3.5 million $3.5 million date December 202 Capitalisation rate 9.50% Exempt 5,500 sqm Car spaces 5.0 years Annual reviews to INSEE Construction Cost Index a65 psm ($82 psm) a65 psm ($82 psm) Date acquired June 2007 a8.2 million ($0.5 million) a8.2 million ($0.5 million) date December 202 Capitalisation rate 9.65% 5,05 sqm Car spaces 285 Average gross passing rent Average gross market rent 2.8 years Annual reviews to INSEE Construction Cost Index a85 psm ($235 psm) a88 psm ($239 psm) Date acquired June 2007 a0. million ($2.8 million) a0. million ($2.8 million) date December 202 Capitalisation rate 6.95% A modern commercial building located in a prime commercial/industrial high tech precinct on a corner allotment enjoying three street frontages in close proximity to the Melbourne CBD and major transport linkages (Westgate Freeway and CityLink Tollway). The property provides three levels of modern office accommodation, together with ancillary laboratory and warehouse/storage areas. 333 undercover car parks are provided on-site over two levels, plus 7 on-grade parking spaces fronting Wirraway Drive. George Weston 25. FY 207 The property is a modern factory and office headquarters located approximately 50 kilometres east of Orleans and 60 kilometres south of Paris. The property is leased to Inteva, a major international car component manufacturer. Inteva 00 FY 208 The property is a modern retail warehouse located in a suburban centre approximately 9 kilometres to the north-east of central Paris in a high tech industrial precinct. The property is leased to Bricoman, a hardware retailer. Bricoman 00 FY 206 2

13 Beziers Rue Charles Nicolle Villeneuve les Beziers, France Gennevilliers Boulevard Dequevauvilliers, Gennevilliers, Paris, France Tours ZI du Papillon, Parcay-Meslay, Tours, France 9,35 sqm Car spaces Average gross passing rent Average gross market rent 2.7 years Annual reviews to ILAT Index a92 psm ($7 psm) a82 psm ($04 psm) Date acquired June 2007 a8.2 million ($0.5 million) a8.2 million ($0.5 million) date December 202 Capitalisation rate 8.50% The property is a modern chillstore/logistics facility located in Beziers prime logistics estate adjacent to the A9 the main east/west road link between Spain, France and Italy. The property is leased to Exel, a major French logistics and distribution operator. Ownership interest 00% (Leasehold until 2047) 7,409 sqm Car spaces Average gross passing rent Average gross market rent 8.2 years Annual reviews to ILAT Index a06 psm ($35 psm) a06 psm ($34 psm) Date acquired June 2007 a7.3 million ($9.2 million) a7.3 million ($9.2 million) date December 202 Capitalisation rate 7.25% The property is a modern industrial warehouse facility located in the established North Paris mixed commercial area of Zac de Louvresses. The property is leased to GrDF, a major French gas supplier and distributor. 5,60 sqm Car spaces 5.7 years Annual reviews to ILAT Index Average gross passing rent a83 psm ($05 psm) Average gross market rent a83 psm ($05 psm) Date acquired June 2007 a4.9 million ($6.2 million) a4.9 million ($6.2 million) date December 202 Capitalisation rate 8.65% The property is a modern chillstore/logistics facility centrally located in a prime logistics park in Tours, the regional centre of the Indie et Loire. The property is leased to ATAC, a major French logistics and distribution operator. Exel 00 FY GrDF 00 FY 202 ATAC 00 FY Tenant can break lease in FY 206 and this is reflected in the. 3 Tenant can break least in FY 209 and this is reflected in the. 3

14 Property summaries (continued) The Junction Industrial Park (Stage 3) Cosgrove Road Enfield, NSW Domain Car Park Royal Botanic Gardens, Sydney, NSW Ownership Interest 00% The 8.56 ha site is located near the intersection of the Hume Highway and Roberts Road and opposite the Enfield Intermodal Logistics Centre in the established central western industrial area of Enfield. Stage 3 comprises the remaining developable portion of the site, extending to an area of 22,828 sqm with master plan approval to construct a 2,660 sqm warehouse/ distribution facility. Leasehold interest 00% CDI has a lease to operate the Domain Cark Park until 30 April The Domain Cark Park comprises,44 car spaces across three levels and is located in close proximity to Sydney s mid-city CBD, Royal Botanic Gardens and Art Gallery of NSW. The car park is one of the largest car parks in Sydney and benefits from recent refurbishment works including lift installations, increased upgrades to building safety and security systems. Refurbishment works reached practical completion on 8 July

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16 Level Pitt Street Sydney NSW 2000 telephone facsimile /023