Property Portfolio. 31 December 2013
Front Cover Property Flint Street Inala, QLD Contents. 1About Australand 2Investment Property Overview 6 Overview 12 Portfolio 44 Office Overview 48 Office Portfolio Australand Holdings Limited (ABN 12 008 443 696) Australand Property Limited (ABN 90 105 462 137; AFS Licence No. 231130) as the responsible entity of Australand Property Trust (ARSN 106 680 424) and Australand ASSETS Trust (ARSN 115 338 513) Australand Investments Limited (ABN 12 086 673 092; AFS Licence No. 228837) as the responsible entity of Australand Property Trust No.4 (ARSN 108 254 413) and Australand Property Trust No.5 (ARSN 108 254 771) 2014 Australand Holdings Limited. This document is subject to copyright. It may not be copied, used, reproduced, or transmitted in any way or in any form without the express permission of Australand Holdings Limited. This document has been prepared by Australand Holdings Limited (ABN 12 008 443 696). The information in this document is not intended as investment or financial advice and must not be relied upon as such. Whilst every care has been taken in relation to its accuracy, no warranty of accuracy is given or implied. Australand Property Portfolio December 2013
Office Property 1F Homebush Bay Drive Rhodes, NSW I am:. Australand s property portfolio consists of modern commercial and industrial assets leased to high quality tenants. Australand s integrated development, ownership and management platform provides valuable insight into customer requirements and changing market conditions. The Investment Property division s success is driven by the commitment of our people, the quality of our portfolio and the strength of our relationships with our tenants. Australand Property Portfolio December 2013 1
31 Dec 2013 Investment property overview. $2.4b property portfolio value Australand s property portfolio provides strong earnings visibility with a weighted average lease expiry of 5.3 years. Australand is a diversified property group, with activities across Australia covering development of residential land, housing and apartments, development of and investment in income producing commercial and industrial properties and property management. Australand s Investment Property business comprises a portfolio of 68 high quality industrial and office assets valued at $2.4 billion. The portfolio is well diversified geographically with assets predominantly located within the major cities of Melbourne, Sydney and Brisbane. This compendium details all investment properties within the portfolio as at 31 December 2013. Type of property No. properties GLA/NLA (square metres) 31 Dec 13 ($m) WALE 1 (years) Occupancy 1 (%) Cap rate (%) 51 942,832 1,197.1 5.8 96.1 8.44 Offi ce 17 269,367 1,190.8 4.8 93.6 7.51 Total portfolio 68 1,212,200 2,387.9 5.3 94.9 7.98 1. By portfolio income. FY18 diversity 1 Geographic diversity 1 Rent review structure 2 Tenant profile 2 50% 50% 44% Office Lease expiry profile 3 Vacant 5% FY14 7% FY15 11% FY17 8% 13% 10% FY16 FY19+ 46% 17% 37% VIC NSW QLD WA & SA 2% 4% 13% 83% Fixed > of fixed & CPI Other & expiry 13% 31% 6% 50% Multi national companies ASX listed companies Other Government 1. By portfolio value. 2. By portfolio income, excludes vacancy. 3. By portfolio income. 2 Australand Property Portfolio December 2013 Investment Property Overview 3
I am: location. Perth South Australia 5 Butler Boulevard, Adelaide Airport 18-20 Butler Boulevard, Adelaide Airport 20-22 Butler Boulevard, Adelaide Airport Lot 102 Coghlan Road, Outer Harbor Western Australia Hudswell Road, Perth Airport Adelaide Melbourne Victoria 610 Heatherton Road, Clayton South 22-28 Bam Wine Court, Dandenong South 10-32 South Park Drive, Dandenong South 21-33 South Park Drive, Dandenong South 63-79 South Park Drive, Dandenong South 89-103 South Park Drive, Dandenong South 98-126 South Park Drive, Dandenong South 468 Boundary Road, Derrimut 1-5 Sunline Drive, Derrimut 1 West Park Drive, Derrimut 64 West Park Drive, Derrimut 23 Scanlon Drive, Epping 170 Atlantic Drive, Keysborough 49-71 Pacifi c Drive, Keysborough Lots 1 & 2 Atlantic Drive, Keysborough 2-46 Douglas Street, Port Melbourne Brisbane Sydney I am: business. 20 Thackray Road, Port Melbourne 17-23 Jets Court, Tullamarine 25-29 Jets Court, Tullamarine 96-106 Link Road, Tullamarine 28-32 Sky Road East, Tullamarine 38-52 Sky Road East, Tullamarine 115-121 South Centre Road, Tullamarine Office 357 Collins Street, Melbourne 690 Springvale Road & 350 Wellington Road, Mulgrave 658 Church Street, Richmond 2 Southbank Boulevard, Southbank 28 Southbank Boulevard, Southbank Freshwater Place, Public Car Park, Southbank Queensland 47-59 Boundary Road, Carole Park 57-71 Platinum Street, Crestmead 51 Stradbroke Street, Heathwood 30 Flint Street, Inala 5-7 Trade Street, Lytton 286 Queensport Road, Murarrie 350 Earnshaw Road, Northgate 63-99 Sandstone Place, Parkinson 44 Cambridge Street, Rocklea 99 Shettleston Street, Rocklea Office 97 School Street, Spring Hill 138 Ferny Avenue, Surfers Paradise New South Wales 227 Walters Road, Arndell Park 2 Wonderland Drive, Eastern Creek 4 Kangaroo Avenue, Eastern Creek 6 Butu Wargun Drive, Greystanes 8 Butu Wargun Drive, Greystanes 10 Butu Wargun Drive, Greystanes 35 Huntingwood Drive, Huntingwood Lot 2 Inner Circle, Port Kembla 8 Distribution Place, Seven Hills 8 Stanton Road, Seven Hills 10 Stanton Road, Seven Hills 99 Station Road, Seven Hills 80 Hartley Street, Smeaton Grange Office Tower A, 197-201 Coward Street, Mascot Tower B, 197-201 Coward Street, Mascot 1B Homebush Bay Drive, Rhodes 1D Homebush Bay Drive, Rhodes 1F Homebush Bay Drive, Rhodes 66 Goulburn Street, Sydney 20 Lee Street, Henry Deane Building, Sydney 26-30 Lee Street, Gateway Building, Sydney 1E Homebush Bay Drive, Rhodes 4 Australand Property Portfolio December 2013 Investment Property Overview 5
Property 8 Distribution Place Seven Hills, NSW Overview December 2013 I am: connected. 6 Australand Property Portfolio December 2013 7 Australand Property Portfolio December 2013 7
31 Dec 2013 overview. 942,832 square metres total gross lettable area Australand s industrial portfolio consists of prime assets within close proximity to major road networks providing customers with logistics and infrastructure solutions. Comprising 50% of Australand s investment property assets the industrial portfolio included 51 income producing properties at 31 December 2013 with a total book value of $1.2 billion. The industrial portfolio has a total lettable area of over 940,000 square metres of warehouse space and ancillary offices. The industrial portfolio is 96% occupied with a weighted average lease expiry of 5.8 years. Address Suburb State GLA (square metres) at 31 Dec 13 ($) % of total portfolio 1 1 227 Walters Road Arndell Park NSW 17,733 23,000,000 0.96% 2 2 Wonderland Drive Eastern Creek NSW 29,047 41,500,000 1.74% 3 4 Kangaroo Avenue Eastern Creek NSW 15,918 24,000,000 1.01% 4 6 Butu Wargun Drive Greystanes NSW 19,218 25,300,000 1.06% 5 8 Butu Wargun Drive Greystanes NSW 22,511 30,500,000 1.28% 6 10 Butu Wargun Drive Greystanes NSW 25,705 33,000,000 1.38% 7 35 Huntingwood Drive Huntingwood NSW 24,967 34,600,000 1.45% 8 Lot 2 Inner Circle Port Kembla NSW 3,283 21,850,000 0.92% 9 8 Distribution Place Seven Hills NSW 13,189 19,000,000 0.80% 10 8 Stanton Road Seven Hills NSW 10,708 15,200,000 0.64% 11 10 Stanton Road Seven Hills NSW 7,065 11,250,000 0.47% 12 99 Station Road Seven Hills NSW 10,772 15,000,000 0.63% 13 80 Hartley Street Smeaton Grange NSW 61,281 57,500,000 2.41% 14 47-59 Boundary Road Carole Park QLD 13,260 12,000,000 0.50% 15 57-71 Platinum Street Crestmead QLD 19,299 27,000,000 1.13% 16 51 Stradbroke Street Heathwood QLD 14,916 21,000,000 0.88% 17 30 Flint Street Inala QLD 15,016 21,500,000 0.90% 18 5-7 Trade Street Lytton QLD 14,479 20,350,000 0.85% 19 286 Queensport Road Murarrie QLD 21,531 27,100,000 1.13% 20 350 Earnshaw Road Northgate QLD 30,771 47,600,000 1.99% 21 63-99 Sandstone Place Parkinson QLD 54,245 176,600,000 7.40% 22 44 Cambridge Street Rocklea QLD 10,923 15,750,000 0.66% 23 99 Shettleston Street Rocklea QLD 15,186 19,500,000 0.82% 24 5 Butler Boulevard Adelaide Airport SA 8,224 7,600,000 0.32% 25 18-20 Butler Boulevard Adelaide Airport SA 6,991 8,800,000 0.37% 1. By portfolio value. 8 Australand Property Portfolio December 2013 Overview December 2013 9
31 Dec 2013 overview. 96% occupancy Geographic diversity 1 5% Address Suburb State GLA (square metres) at 31 Dec 13 ($) % of total portfolio 1 26 20-22 Butler Boulevard Adelaide Airport SA 11,197 10,300,000 0.43% 27 Lot 102 Coghlan Road Outer Harbor SA 6,626 7,000,000 0.29% 29% 33% 28 610 Heatherton Road Clayton South VIC 8,387 25,100,000 1.05% 29 22-28 Bam Wine Court Dandenong South VIC 17,606 18,400,000 0.77% 33% Rent review structure 2 14% 7% 79% VIC QLD NSW WA & SA Fixed > of fixed & CPI Other & expiry 30 10-32 South Park Drive Dandenong South VIC 12,729 11,250,000 0.47% 31 21-33 South Park Drive Dandenong South VIC 22,106 18,400,000 0.77% 32 63-71 South Park Drive Dandenong South VIC 13,963 13,000,000 0.54% 33 89-103 South Park Drive Dandenong South VIC 10,425 9,300,000 0.39% 34 98-126 South Park Drive Dandenong South VIC 21,070 17,750,000 0.74% 35 468 Boundary Road Derrimut VIC 24,732 22,000,000 0.92% 36 1-15 Sunline Drive Derrimut VIC 26,153 24,700,000 1.03% 37 1 West Park Drive Derrimut VIC 10,078 8,200,000 0.34% 38 64 West Park Drive Derrimut VIC 20,337 19,000,000 0.80% 39 23 Scanlon Drive Epping VIC 12,361 12,900,000 0.54% 40 170 Atlantic Drive Keysborough VIC 27,272 28,600,000 1.20% 41 49-71 Pacifi c Drive Keysborough VIC 25,163 24,500,000 1.03% 42 Lots 1 and 2 Atlantic Drive Keysborough VIC 30,004 28,600,000 1.20% Lease expiry profile 3 Vacant FY14 8% FY15 15% FY18 FY16 FY17 4% 7% 7% 12% FY19+ 47% 43 2-46 Douglas Street Port Melbourne VIC 21,803 23,000,000 0.96% 44 20 Thackray Road Port Melbourne VIC 9,027 14,700,000 0.62% 45 17-23 Jets Court Tullamarine VIC 9,869 7,300,000 0.31% 46 25-29 Jets Court Tullamarine VIC 15,544 11,400,000 0.48% 47 96-106 Link Road Tullamarine VIC 18,598 26,400,000 1.11% 48 28-32 Sky Road East Tullamarine VIC 12,086 8,000,000 0.34% 49 38-52 Sky Road East Tullamarine VIC 46,231 21,000,000 0.88% 50 115-121 South Centre Road Tullamarine VIC 3,085 6,000,000 0.25% 51 Hudswell Road Perth Airport WA 20,143 23,800,000 1.00% TOTAL INDUSTRIAL PORTFOLIO 942,832 1,197,100,000 50.13% 1. By portfolio value. 2. By portfolio income, excludes vacancy. 3. By portfolio income. 10 Australand Property Portfolio December 2013 Overview December 2013 11
Property Portfolio 31 Dec 2013 New South Wales industrial portfolio. 227 Walters Road, Arndell Park, NSW 2 Wonderland Drive, Eastern Creek, NSW 1 Prominently positioned within an established industrial precinct and fronting the Great Western Highway, the property comprises a high clearance modern warehouse and two storey office component. The property is within close proximity to the M4 and M7 Motorways. 2 Located within Sydney s premier industrial logistics location, Eastern Creek, and situated at the intersection of the M4 and M7 Motorways, the property comprises a three level office and high clearance warehouse. This building was originally constructed in 2004 and expanded in late 2005. M2 MOTORWAY Huntingwood Seven Hills Arndell Park Eastern Creek Greystanes M4 MOTORWAY GLA (square metres) 17,733 % of portfolio 0.96% DHL GLA (square metres) 29,047 % of portfolio 1.74% LG Electronics M7 MOTORWAY Sydney CBD WALE (years) 1.31 $23,000,000 WALE (years) 0.69 $41,500,000 Capitalisation rate 8.50% Capitalisation rate 8.50% Independent valuation $23,300,000 Independent valuation $41,500,000 M5 MOTORWAY Airport Capitalisation rate 8.50% Capitalisation rate 8.50% Smeaton Grange Port Kembla 90km from Sydney > Number of properties at each location Arndell Park 227 Walters Road Eastern Creek 2 Wonderland Drive Lot 1 Kangaroo Close Greystanes 6 Butu Wargun Drive 8 Butu Wargun Drive 10 Butu Wargun Drive Huntingwood 35 Huntingwood Drive Port Kembla Lot 2 Inner Circle Seven Hills 8 Distribution Place 8 Stanton Road 10 Stanton Road 99 Station Road Smeaton Grange 80 Hartley Street 12 Australand Property Portfolio December 2013 Portfolio December 2013 13
4 Kangaroo Avenue, Eastern Creek, NSW 6 Butu Wargun Drive, Greystanes, NSW 8 Butu Wargun Drive, Greystanes, NSW 10 Butu Wargun Drive, Greystanes, NSW 3 Completed in 2013, this high quality warehouse and ancillary office is located within Sydney s premier industrial logistics location, Eastern Creek. 4 A high quality freestanding industrial distribution facility constructed in 2005, comprising a modern warehouse and office. Greystanes is located within close proximity to the M4 Motorway. 5 Constructed in 2005, the property consists of a high quality freestanding industrial distribution facility. The facility has the flexibility to be occupied as a single facility or divided into two tenancy areas. 6 The property, constructed in 2003, consists of a high quality industrial facility with full vehicular access and a modern single level office situated to the front of the building. Greystanes is located within close proximity to the M4 Motorway. GLA (square metres) 15,918 GLA (square metres) 19,218 GLA (square metres) 22,511 GLA (square metres) 25,705 % of portfolio 1.01% % of portfolio 1.06% % of portfolio 1.28% % of portfolio 1.38% Schenker BJ Ball Inchcape Motors, John Danks & Son Schweppes WALE (years) 10.00 WALE (years) 1.30 WALE (years) 2.73 WALE (years) 1.42 $24,000,000 $25,300,000 $30,500,000 $33,000,000 Capitalisation rate 7.50% Capitalisation rate 8.75% Capitalisation rate 8.50% Capitalisation rate 8.75% Independent valuation $24,000,000 Independent valuation $25,300,000 Independent valuation $30,200,000 Independent valuation $32,000,000 Valuation date 31 Dec 12 Valuation date 30 Jun 12 Valuation date 30 Jun 12 Capitalisation rate 7.50% Capitalisation rate 8.75% Capitalisation rate 8.50% Capitalisation rate 9.00% Discount rate 9.25% Discount rate 9.75% Discount rate 9.75% 14 Australand Property Portfolio December 2013 Portfolio December 2013 15
35 Huntingwood Drive, Huntingwood, NSW Lot 2 Inner Circle, Port Kembla, NSW 8 Distribution Place, Seven Hills, NSW 8 Stanton Road, Seven Hills, NSW 7 The facility is approximately 35 kilometres west of the Sydney CBD and incorporates a single level office component and high clearance warehouse with separate receiving and dispatch docking amenities located at either side of the building. 8 Port Kembla is situated within the southern industrial city of Wollongong. The site includes an office and warehouse with direct access into the port via Tom Thumb Road. 9 Constructed in 2008, the property incorporates a modern two storey office and high clearance warehouse facility with multiple loading docks. Seven Hills is an established industrial suburb within close proximity to the M2 and M7 Motorways. 10 This high quality warehouse and distribution facility comprises a two level office and high clearance warehouse. Located in an established industrial precinct, the site is within close proximity to the M2 and M7 Motorways. GLA (square metres) 24,967 GLA (square metres) 3,283 GLA (square metres) 13,189 GLA (square metres) 10,708 % of portfolio 1.45% % of portfolio 0.92% % of portfolio 0.80% % of portfolio 0.64% Costco Inchcape, Mazda CABAC Yusen WALE (years) 5.16 WALE (years) 5.63 WALE (years) 4.41 WALE (years) 3.38 $34,600,000 $21,850,000 $19,000,000 $15,200,000 Capitalisation rate 9.50% Capitalisation rate 8.35% Independent valuation $34,600,000 Independent valuation $21,800,000 Independent valuation $18,500,000 Independent valuation $15,000,000 Valuation date 30 Jun 12 Valuation date 30 Jun 12 Capitalisation rate 8.75% Discount rate 10.25% Discount rate 9.75% 16 Australand Property Portfolio December 2013 Portfolio December 2013 17
10 Stanton Road, Seven Hills, NSW 99 Station Road, Seven Hills, NSW 80 Hartley Street, Smeaton Grange, NSW 11 The facility, completed in 2003, comprises two levels of office accommodation, undercover parking and a high clearance warehouse. 12 Completed in 2011 and located within close proximity to the M2 and M4 Motorways this prime quality property consists of a high clearance warehouse and associated offices. 13 The ~61,000 square metre property comprises a modern industrial office, warehouse and distribution centre located within an established industrial precinct approximately 40 kilometres southwest of the Sydney CBD. GLA (square metres) 7,065 % of portfolio 0.47% GLA (square metres) 10,772 % of portfolio 0.63% GLA (square metres) 61,281 % of portfolio 2.41% CSR Building Products RF Industries Coles WALE (years) 7.61 WALE (years) 4.20 WALE (years) 5.47 $11,250,000 $15,000,000 $57,500,000 Capitalisation rate 8.00% Independent valuation $10,700,000 Valuation date 30 Jun 12 Capitalisation rate 8.00% Independent valuation $15,000,000 Capitalisation rate 8.50% Independent valuation $57,500,000 Capitalisation rate 8.50% Discount rate 9.75% 18 Australand Property Portfolio December 2013 Portfolio December 2013 19
Property Portfolio 31 Dec 2013 Queensland industrial portfolio. 47-59 Boundary Road, Carole Park, QLD 57-71 Platinum Street, Crestmead, QLD BRUCE HIGHWAY Northgate Airport 14 The property, completed in 2004, features a high clearance warehouse and office. Carole Park is situated approximately 19 kilometres from the Brisbane CBD and benefits from access to the Logan and Ipswich Motorways. 15 This custom designed warehouse and manufacturing facility is located approximately 30 kilometres south of the Brisbane CBD and within close proximity to the Logan and Pacific Motorways. Lytton Brisbane CBD WESTERN FREEWAY IPSWICH MOTORWAY Inala Rocklea Murarrie GATEWAY MOTORWAY GLA (square metres) 13,260 % of portfolio 0.50% WALE (years) 5.40 Goodyear $12,000,000 Capitalisation rate 9.25% Independent valuation $12,000,000 GLA (square metres) 19,299 % of portfolio 1.13% Stramit WALE (years) 5.87 Capitalisation rate 8.15% $27,000,000 Independent valuation $26,000,000 Valuation date 30 Jun 12 Parkinson Heathwood Carole Park Capitalisation rate 9.25% Discount rate 10.25% Discount rate 9.75% LOGAN MOTORWAY Crestmead PACIFIC MOTORWAY Number of properties at each location Carole Park 47-59 Boundary Road Crestmead 57-71 Platinum Street Heathwood 51 Stradbroke Street Inala Flint Street Lytton 5-7 Trade Street Murarrie 286 Queensport Road Northgate Earnshaw Road Parkinson 63 & 99 Sandstone Place Rocklea 44 Cambridge Street 99 Shettleston Street 20 Australand Property Portfolio December 2013 Portfolio December 2013 21
51 Stradbroke Street, Heathwood, QLD 30 Flint Street, Inala, QLD 5-7 Trade Street, Lytton, QLD 286 Queensport Road, Murarrie, QLD 16 Constructed in 2002 and extended in 2005, the building comprises a high clearance warehouse and production facility with associated office accommodation. Heathwood is situated approximately 30 kilometres south of the Brisbane CBD with immediate access to the Logan Motorway and within close proximity to the Century Highway. 17 A high quality 15,000 square metre warehouse and office facility located in Brisbane s south within close proximity to the Ipswich Motorway. 18 This manufacturing facility includes a single level office and high clearance warehouse. Lytton is an established portside industrial precinct located approximately 18 kilometres north of the Brisbane CBD and 6 kilometres east of the Gateway Motorway. 19 Murarrie is located approximately 10 kilometres east of the Brisbane CBD and adjoins the Gateway Motorway. The property includes a detached two level office building and high clearance warehouse and manufacturing facility. GLA (square metres) 14,916 GLA (square metres) 15,016 GLA (square metres) 14,479 GLA (square metres) 21,531 % of portfolio 0.88% % of portfolio 0.90% % of portfolio 0.85% % of portfolio 1.13% B & R Enclosures Isuzu National Foods Laminex WALE (years) 6.62 WALE (years) 9.29 WALE (years) 2.35 WALE (years) 10.67 $21,000,000 $21,500,000 $20,350,000 $27,100,000 Capitalisation rate 8.00% Capitalisation rate 7.75% Capitalisation rate 8.75% Capitalisation rate 7.50% Independent valuation $21,000,000 Independent valuation $20,700,000 Independent valuation $20,350,000 Independent valuation $25,900,000 Capitalisation rate 8.00% Capitalisation rate 7.75% Capitalisation rate 8.75% Capitalisation rate 8.50% Discount rate 9.75% Discount rate 9.75% Discount rate 9.75% 22 Australand Property Portfolio December 2013 Portfolio December 2013 23
350 Earnshaw Road, Northgate, QLD 63-99 Sandstone Place, Parkinson, QLD 44 Cambridge Street, Rocklea, QLD 99 Shettleston Street, Rocklea, QLD 20 This property includes a two level office and high clearance warehouse. Northgate is an established industrial precinct located approximately 12 kilometres north of the Brisbane CBD and two kilometres west of Brisbane Airport. It is ideally located to take advantage of the Gateway Motorway. 21 Originally completed in 2008 the facility was expanded in 2012. With a total area of ~54,000 square metres the facility comprises a large refrigerated warehouse and distribution centre together with a two storey office. The property is positioned within close proximity to major transport networks including the Mount Lindesay Highway and the Logan and Ipswich Motorways. 22 Rocklea is situated approximately 10 kilometres from the Brisbane CBD. The property comprises a modern warehouse and distribution facility capable of being occupied as a single facility or divided into two tenancies. 23 The property has immediate access to the Ipswich Motorway and is within close proximity to the Pacific Motorway. The property consists of a large high clearance warehouse and distribution facility with a single level office. GLA (square metres) 30,771 GLA (square metres) 54,245 GLA (square metres) 10,923 GLA (square metres) 15,186 % of portfolio 1.99% % of portfolio 7.40% % of portfolio 0.66% % of portfolio 0.82% Heinz Coles Holman Fresh, Lindsay Brothers Amcor WALE (years) 5.96 WALE (years) 18.49 WALE (years) 2.32 WALE (years) 9.50 $47,600,000 $176,600,000 $15,750,000 $19,500,000 Capitalisation rate 8.15% Capitalisation rate 7.50% Capitalisation rate 10.25% Independent valuation $46,500,000 Independent valuation $165,500,000 Independent valuation $15,750,000 Independent valuation $19,500,000 Valuation date 31 Dec 12 Valuation date 31 Dec 12 Capitalisation rate 7.75% Capitalisation rate 10.25% Discount rate 9.75% Discount rate 11.00% Discount rate 10.00% 24 Australand Property Portfolio December 2013 Portfolio December 2013 25
Property Portfolio 31 Dec 2013 South Australia industrial portfolio. 5 Butler Boulevard, Adelaide Airport, SA 18-20 Butler Boulevard, Adelaide Airport, SA 24 Located within the north western corner of Adelaide Airport, approximately 7 kilometres west of the Adelaide CBD, the building is configured as four various sized industrial units with associated offices. 25 Completed in 2008, the property comprises an office and warehouse facility located within Adelaide Airport. Outer Harbor Airport PORT WAKEFIELD RD MAIN NORTH RD GLA (square metres) 8,224 GLA (square metres) 6,991 % of portfolio 0.32% % of portfolio 0.37% PORT RD Occupancy 84% Herbalife, Ericsson, Australia Post Thermo Gamma Metrics Adelaide Airport Adelaide CBD WALE (years) 1.77 $7,600,000 WALE (years) 4.04 $8,800,000 Airport Capitalisation rate 9.94% Capitalisation rate 10.00% ANZAC HWY M1 MOTORWAY Independent valuation $7,600,000 Independent valuation $8,900,000 Valuation date 30 Jun 12 Capitalisation rate 9.94% Capitalisation rate 9.50% Discount rate 10.00% Discount rate 10.00% M2 MOTORWAY Number of properties at each location Adelaide Airport 5 Butler Boulevard 18-20 Butler Boulevard 20-22 Butler Boulevard Outer Harbor Lot 102 Coghlan Road 26 Australand Property Portfolio December 2013 Portfolio December 2013 27
20-22 Butler Boulevard, Adelaide Airport, SA Lot 102 Coghlan Road, Outer Harbor, SA Property 63-99 Sandstone Place Parkinson, QLD 26 An office and warehouse facility located in the 27 industrial estate of Burbridge Business Park. Adelaide Airport is located approximately 7 kilometres west of the Adelaide CBD. Completed in 2001, the property consists of an office and temperature controlled warehouse facility. The site has access to rail and road transport and is located approximately 20 kilometres from the CBD. GLA (square metres) 11,197 % of portfolio 0.43% GLA (square metres) 6,626 % of portfolio 0.29% Agility, TNT Treasury Wine Estates WALE (years) 6.19 WALE (years) 0.26 $10,300,000 $7,000,000 Capitalisation rate 9.75% Independent valuation $9,800,000 Valuation date 30 Jun 12 Capitalisation rate 10.00% Discount rate 11.00% Capitalisation rate 8.50% Independent valuation $7,000,000 Capitalisation rate 9.12% Discount rate 10.00% 28 Australand Property Portfolio December 2013 Portfolio December 2013 29 29
Property Portfolio 31 Dec 2013 Victoria industrial portfolio. 610 Heatherton Road, Clayton South, VIC 22-28 Bam Wine Court, Dandenong South, VIC CALDER FWY Airport HUME HWY HUME FWY Epping 28 The property comprises a modern warehouse facility and a freestanding two level office. This site is located within close proximity to the Monash Freeway. 29 The property is located within Australand s South Park Estate which is a short distance from the Eastlink Interchange, the Monash Freeway and Princes Highway. Developed in 2004, the site comprises a modern single level office and temperature controlled warehouse. A 4,200 square metres extension was completed in the second half of 2011. MELTON HWY Tullamarine GLA (square metres) 8,387 GLA (square metres) 17,606 WESTERN FWY DEER PARK BYPASS Derrimut Melbourne CBD EASTERN FWY MAROONDAH HWY % of portfolio 1.05% Zinfra Group % of portfolio 0.77% BAM Wines Port Melbourne BURWOOD HWY WALE (years) 4.27 $25,100,000 WALE (years) 4.92 $18,400,000 PRINCES FWY NEPEAN HWY PRINCES HWY Keysborough EAST LINK MONASH FWY Clayton South Dandenong Capitalisation rate 8.50% Independent valuation $25,200,000 Valuation date 30 Jun 12 Capitalisation rate 8.50% Independent valuation $18,400,000 Dandenong South Number of properties at each location Clayton South 610 Heatherton Road Derrimut 468 Boundary Road 1 & 15 Sunline Drive 1 West Park Drive 64 West Park Drive Dandenong South 22-28 Bam Wine Court Cnr Greens Road & South Park Drive 21-33 South Park Drive 63-71 South Park Drive 89-103 South Park Drive 98-126 South Park Drive Epping 23 Scanlon Drive Keysborough 144-146 Atlantic Drive 49-71 Pacifi c Drive Lots 1 & 2 Atlantic Drive Port Melbourne 2-46 Douglas Street 20 Thackray Road Tullamarine 17-23 Jets Court 25-29 Jets Court 96-106 Link Road 28-32 Sky Road East 38-52 Sky Road East 115-121 South Centre Road 30 Australand Property Portfolio December 2013 Portfolio December 2013 31
10-32 South Park Drive, Dandenong South, VIC 21-33 South Park Drive, Dandenong South, VIC 63-71 South Park Drive, Dandenong South, VIC 89-103 South Park Drive, Dandenong South, VIC 30 The site, located 32 kilometres southeast of the Melbourne CBD, comprises a modern high quality warehouse facility and associated office constructed in 2009. 31 Located in close proximity to numerous arterial roads and transport networks, the property comprises a modern high quality warehouse facility, two level office and showroom completed in 2005. 32 Completed in 2004 the property includes a high quality warehouse facility with two level office. The property is located within Australand s South Park Estate which is a short distance from the Eastlink Interchange, Monash Freeway and Princes Freeway. 33 The property comprises a modern industrial facility including a warehouse and an attached single level office building, fronting South Park Drive. The property is loacted approximately 30 kilometres southeast of the Melbourne CBD. GLA (square metres) 12,729 GLA (square metres) 22,106 GLA (square metres) 13,963 GLA (square metres) 10,425 % of portfolio 0.47% % of portfolio 0.77% % of portfolio 0.54% % of portfolio 0.39% Occupancy 0% - Caprice Australia L&L Products CEVA Logistics WALE (years) - WALE (years) 1.86 WALE (years) 10.38 WALE (years) 1.84 $11,250,000 $18,400,000 $13,000,000 $9,300,000 Capitalisation rate 9.00% Capitalisation rate 8.75% Independent valuation $11,250,000 Independent valuation $17,250,000 Independent valuation $13,000,000 Independent valuation $9,100,000 Valuation date 31 Dec 12 Valuation date 30 Jun 12 Capitalisation rate 9.00% Capitalisation rate 8.75% Discount rate 9.75% Discount rate 9.75% Discount rate 9.75% 32 Australand Property Portfolio December 2013 Portfolio December 2013 33
98-126 South Park Drive, Dandenong South, VIC 468 Boundary Road, Derrimut, VIC 1-15 Sunline Drive, Derrimut, VIC 1 West Park Drive, Derrimut, VIC 34 Completed in 2006, the property consists of a modern industrial office and warehouse facility. The property is centrally located amidst numerous arterial roads and transport networks. 35 The property, constructed in 2006, comprises a modern distribution facility incorporating a single level office attached to a large warehouse. Derrimut is located approximately 17 kilometres west of the CBD. 36 Completed in 2011 and located within Australand s Westpark Estate, the property comprises two attached warehouses each with internal office accommodation. 37 The property consists of a high quality warehouse facility and a single level office. The facility was constructed in 2008 and is located within close proximity to the Western Ring Road. GLA (square metres) 21,070 GLA (square metres) 24,732 GLA (square metres) 26,153 GLA (square metres) 10,078 % of portfolio 0.74% % of portfolio 0.92% % of portfolio 1.03% % of portfolio 0.34% Occupancy 69% Gregorys Chep Arlec & Freight Specialists Goodyear WALE (years) 2.75 WALE (years) 1.61 WALE (years) 5.11 WALE (years) 1.19 $17,750,000 $22,000,000 $24,700,000 $8,200,000 Capitalisation rate 9.25% Capitalisation rate 9.00% Capitalisation rate 9.25% Independent valuation $17,750,000 Independent valuation $22,000,000 Independent valuation $24,700,000 Independent valuation $8,250,000 Valuation date 31 Dec 12 Valuation date 31 Dec 12 Capitalisation rate 8.75% Capitalisation rate 9.00% Capitalisation rate 8.35% Discount rate 10.00% Discount rate 9.75% 34 Australand Property Portfolio December 2013 Portfolio December 2013 35
64 West Park Drive, Derrimut, VIC 23 Scanlon Drive, Epping, VIC 144-166 Atlantic Drive, Keysborough, VIC 49-71 Pacific Drive, Keysborough, VIC 38 The property is located within Australand s Westpark Estate approximately 17 kilometres from the Melbourne CBD and comprises a high clearance modern warehouse and a single storey office. 39 The site is located approximately 18 kilometres north of the Melbourne CBD within close proximity to the Cooper Street and Hume Highway Freeway Interchange. The property, constructed in 2006, includes a warehouse and an attached two storey office. 40 Located within Australand s Key Estate, the property is positioned immediately adjacent to the Eastlink Tollway and is central to numerous arterial roads and transport networks. Completed in 2011, the property comprises a two unit warehouse and office facility. 41 The property, completed in 2011, comprises a large modern industrial warehouse and an attached two level office building. The property is located 32 kilometres southeast of the CBD. GLA (square metres) 20,337 GLA (square metres) 12,361 GLA (square metres) 27,272 GLA (square metres) 25,163 % of portfolio 0.80% % of portfolio 0.54% % of portfolio 1.20% % of portfolio 1.03% CEVA Logistics (Australia) Sumitomo ESR Group Holdings, Tyres 4U TriMas Corporation WALE (years) 4.99 WALE (years) 3.25 WALE (years) 5.61 WALE (years) 7.96 $19,000,000 $12,900,000 $28,600,000 $24,500,000 Capitalisation rate 9.00% Capitalisation rate 8.15% Capitalisation rate 8.00% Independent valuation $19,000,000 Independent valuation $12,900,000 Independent valuation $28,600,000 Independent valuation $23,900,000 Capitalisation rate 8.75% Capitalisation rate 8.15% Capitalisation rate 8.00% Discount rate 9.75% 36 Australand Property Portfolio December 2013 Portfolio December 2013 37
170 Atlantic Drive, Keysborough, VIC 2-46 Douglas Street, Port Melbourne, VIC 20 Thackray Road, Port Melbourne, VIC 17-23 Jets Court, Tullamarine, VIC 42 The property comprises two warehouse and office facilities under one roofline. The property is located within Australand s Key Estate and is targeting a 4 star Green Star rating. 43 The property comprises two freestanding, modern industrial facilities. The main tenancy consists of a two level office attached to a high clearance warehouse. Port Melbourne is located approximately five kilometres from the CBD. 44 Constructed in 2005, the property comprises a prime quality, high clearance warehouse and two level office. 45 The property comprises two high quality warehouse and distribution facilities with associated office accommodation, completed in 2009. The site is located within the Melbourne Airport Business Park. GLA (square metres) 30,004 GLA (square metres) 21,803 GLA (square metres) 9,027 GLA (square metres) 9,869 % of portfolio 1.20% % of portfolio 0.96% % of portfolio 0.62% % of portfolio 0.31% Bic, Linfox Toll Holdings, Siemens Pearson Australia Group Smith Lewis, Eagle Lighting WALE (years) 1.94 WALE (years) 3.58 WALE (years) 1.49 WALE (years) 7.50 $28,600,000 $23,000,000 $14,700,000 $7,300,000 Capitalisation rate 8.38% Capitalisation rate 9.50% Capitalisation rate 8.00% Capitalisation rate 9.53% Independent valuation $28,300,000 Independent valuation $23,000,000 Independent valuation $15,500,000 Independent valuation $7,300,000 Valuation date 30 Jun 12 Valuation date 31 Dec 12 Capitalisation rate 8.38% Capitalisation rate 9.25% Capitalisation rate 9.53% Discount rate 11.00% Discount rate 10.00% 38 Australand Property Portfolio December 2013 Portfolio December 2013 39
25-29 Jets Court, Tullamarine, VIC 96-106 Link Road, Tullamarine, VIC 28-32 Sky Road East, Tullamarine, VIC 38-52 Sky Road East, Tullamarine, VIC 46 The property is located approximately three kilometres northwest of the Airport Drive and Western Ring Road interchange and comprises a modern industrial facility including two separate offices and warehouses. 47 The property comprises an extensive, purpose built industrial facility and occupies a site of approximately 50,000 square metres. The facility includes a three level office attached by a first floor walkway to the warehouse. 48 The property forms part of the Melbourne Airport Business Park and comprises a high quality warehouse distribution facility and a two level office constructed in 2008. 49 The property comprises a 46,000 square metre prime quality warehouse and distribution facility with a single level office. The site is located within the Melbourne Airport Business Park. GLA (square metres) 15,544 GLA (square metres) 18,598 GLA (square metres) 12,086 GLA (square metres) 46,231 % of portfolio 0.48% % of portfolio 1.11% % of portfolio 0.34% % of portfolio 0.88% Occupancy 0% Boeing, CSR DHL Agility Logistics - WALE (years) 1.76 WALE (years) 5.45 WALE (years) 4.66 WALE (years) 0.00 $11,400,000 $26,400,000 $8,000,000 $21,000,000 Capitalisation rate 9.50% Capitalisation rate 9.00% Capitalisation rate 9.75% Capitalisation rate 9.00% Independent valuation $11,250,000 Independent valuation $26,400,000 Independent valuation $8,000,000 Independent valuation $21,000,000 Valuation date 30 Jun 12 Valuation date 31 Dec 12 Capitalisation rate 9.25% Capitalisation rate 9.00% Capitalisation rate 9.50% Capitalisation rate 9.00% Discount rate 9.75% Discount rate 10.25% 40 Australand Property Portfolio December 2013 Portfolio December 2013 41
115-121 South Centre Road, Tullamarine, VIC Western Australia industrial portfolio. 50 Tullamarine is located approximately 15 kilometres northwest of the Melbourne CBD. The property includes a modern industrial facility, substantial two level office and ground floor café. Hudswell Road, Perth Airport, WA 51 The property is located within the Perth Airport Business Precinct approximately 12 kilometres northeast of the Perth CBD. Completed in 2009, the complex comprises of a modern office warehouse building of approximately 20,000 square metres. GLA (square metres) 3,085 % of portfolio 0.25% WALE (years) 4.33 Toll Holdings, Jetstream Café $6,000,000 Capitalisation rate 9.50% Independent valuation $6,000,000 Valuation date 30 Jun 12 Capitalisation rate 9.50% GLA (square metres) 20,143 % of portfolio 1.00% WALE (years) 2.81 Electrolux, Centurion $23,800,000 Capitalisation rate 10.72% Independent valuation $23,800,000 Capitalisation rate 10.72% Discount rate 9.75% 42 Australand Property Portfolio December 2013 43 Portfolio December 2013 43
Office Property 357 Collins Street Mebourne, VIC Office Overview December 2013 I am: business. 44 Australand Property Portfolio December 2013 45 45
31 Dec 2013 Office overview. $1.2bn value With 88% of offi ce income derived from ASX listed, multinational or government tenants, Australand s offi ce portfolio is supported by strong tenant covenants. Comprising 50% of Australand s investment property assets the office portfolio included 17 properties at 31 December 2013 with a total book value of $1.2 billion. The office portfolio, predominantly located in Melbourne and Sydney, has a total lettable area of 269,000 square metres and is 94% occupied with a weighted average lease expiry of 4.8 years. Address Suburb State NLA (square metres) at Gross average rent 31 Dec 13 ($) % of total portfolio 1 ($/square metre) 1 Tower A, 197-201 Coward Street Mascot NSW 12,700 59,000,000 2.47% 431 2 Tower B, 197-201 Coward Street Mascot NSW 10,253 39,000,000 1.63% 402 3 1B Homebush Bay Drive Rhodes NSW 12,799 64,200,000 2.69% 474 4 1D Homebush Bay Drive Rhodes NSW 17,238 92,500,000 3.87% 420 5 1F Homebush Bay Drive Rhodes NSW 17,664 86,432,800 3.62% 448 6 66 Goulburn Street Sydney NSW 23,185 63,000,000 2.64% 596 7 20 Lee Street, Henry Deane Building 8 26-30 Lee Street, Gateway Building Sydney NSW 9,112 46,800,000 1.96% 438 Sydney NSW 12,601 75,400,000 3.16% 578 9 1E Homebush Bay Drive Rhodes NSW 1,053 6,000,000 0.25% N/A 10 97 School Street Spring Hill QLD 2,255 6,500,000 0.27% Vacant 11 138 Ferny Avenue Surfers Paradise QLD 2 Units 186,000 0.01% N/A 12 357 Collins Street Melbourne VIC 32,110 198,914,029 8.33% 525 13 690 Springvale Road & 350 Wellington Road Mulgrave VIC 21,433 78,600,000 3.29% 285 14 658 Church Street Richmond VIC 8,049 35,250,000 1.48% 417 15 2 Southbank Boulevard Southbank VIC 54,922 204,100,000 8.55% 591 16 28 Southbank Boulevard Southbank VIC 33,993 119,600,000 5.01% 581 17 Freshwater Place, Public Car Park Southbank VIC N/A 15,300,000 0.64% N/A TOTAL OFFICE PORTFOLIO 269,367 1,190,782,829 49.87% Geographic diversity 1 Rent review structure 2 Lease expiry profile 3 44% 1% 55% VIC NSW QLD 1% 11% 88% Fixed > of fixed & CPI Other & expiry FY16 Vacant FY14 6% FY15 7% FY17 FY18 6% 10% 20% 7% FY19+ 44% 1. By portfolio value. 2. By portfolio income, excludes vacancy. 3. By portfolio income. 46 Australand Property Portfolio December 2013 Offi ce Overview December 2013 47
Office Property Portfolio 31 Dec 2013 New South Wales office portfolio. Tower A, 197-201 Coward Street, Mascot, NSW Tower B, 197-201 Coward Street, Mascot, NSW 1 Completed in 2003, Tower A consists of an eight level office building including a ground floor café, located in close proximity to Mascot Railway Station and 400 metres north of Sydney s Kingsford Smith Airport. 2 Completed in 2003, Tower B comprises of a ground floor and seven upper levels of office accommodation. Tower B is attached to Tower A and is located on the south eastern corner of Coward Street and Bourke Road. Offi ce Offi ce M2 MOTORWAY NLA (square metres) 12,700 NLA (square metres) 10,253 No. car parking spaces 299 No. car parking spaces 245 % of portfolio 2.47% % of portfolio 1.63% M7 MOTORWAY M4 MOTORWAY Rhodes Sydney Sydney CBD Occupancy 88% WALE (years) 7.71 NABERS energy rating 4.50 TNT, Qantas Qantas WALE (years) 0.32 NABERS energy rating 3.00 M5 MOTORWAY Mascot Airport Capitalisation rate 7.75% $59,000,000 $39,000,000 Independent valuation $59,000,000 Independent valuation $39,000,000 Capitalisation rate 7.75% Discount rate 9.25% Discount rate 9.25% Lease expiry profile Lease expiry profile Number of properties at each location Mascot Tower A, 197-201 Coward Street Tower B, 197-201 Coward Street Rhodes 1B Homebush Bay Drive 1D Homebush Bay Drive 1F Homebush Bay Drive Homebush Bay Drive Sydney 66 Goulburn Street 20 Lee Street, Henry Deane Building 26-30 Lee Street, Gateway Building FY14 FY15 FY16 FY17 FY18 Vacant 17% FY19+ 71% Vacant FY14 100% FY15 FY16 FY17 FY18 FY19+ 48 Australand Property Portfolio December 2013 Offi ce Portfolio December 2013 49
1B Homebush Bay Drive, Rhodes, NSW 1D Homebush Bay Drive, Rhodes, NSW 1F Homebush Bay Drive, Rhodes, NSW 66 Goulburn Street, Sydney, NSW 3 Constructed in 2003, the property is located within Australand s Rhodes Corporate Park development. The building features six levels of office accommodation and a café on the ground level. The precinct is located approximately 14 kilometres west of the Sydney CBD and enjoys excellent rail, road and retail access. 4 The property comprises a commercial office building with five levels of office accommodation featuring expansive views of Canada Bay and the Sydney CBD. The building was constructed in 2003 and forms part of Australand s Rhodes Corporate Park development which features a café, childcare centre, gymnasium and pool. 5 Building F, completed in 2013 comprises over 17,000 square metres of A grade office accommodation. This building has been rated a 5 star Green Star and has been designed to achieve a 5.0 star NABERS rating. 6 Constructed in 2004, the property comprises a 24 level office tower with ground floor retail above the 6 level Masonic Centre in Goulburn Street. The property enjoys a prominent location on the corner of Goulburn and Castlereagh Streets in Sydney s CBD. Offi ce Offi ce Offi ce Offi ce Ownership 50% NLA (square metres) 12,799 NLA (square metres) 17,238 NLA (square metres) 17,664 NLA (square metres) 23,185 No. car parking spaces 278 No. car parking spaces 375 No. car parking spaces 375 No. car parking spaces 54 % of portfolio 2.69% % of portfolio 3.87% % of portfolio 3.62% % of portfolio 2.64% Occupancy 68% Nestle, National Australia Bank Nestle Citibank, Hewlett Packard, Rawson Homes Commonwealth Government, Bauer Media, Body Corporate Services, William Buck WALE (years) 5.91 WALE (years) 9.86 WALE (years) 3.72 WALE (years) 2.42 NABERS energy rating 4.50 NABERS energy rating 4.50 NABERS energy rating 5.00 NABERS energy rating 5.50 $64,200,000 $92,500,000 $86,432,800 $63,000,000 Capitalisation rate 8.00% Capitalisation rate 7.50% Capitalisation rate 7.75% Capitalisation rate 7.75% Independent valuation $63,500,000 Independent valuation $92,000,000 Independent valuation $91,500,000 (assumes 100% leased) Independent valuation $63,000,000 Capitalisation rate 8.00% Capitalisation rate 7.50% Capitalisation rate 7.75% Discount rate 9.75% Lease expiry profile Vacant FY14 FY15 FY17 FY18 FY16 7% 1% 30% FY19+ 62% 50 Australand Property Portfolio December 2013 Lease expiry profile Lease expiry profile Lease expiry profile Vacant FY14 FY15 FY16 FY17 FY18 FY19+ 100% Vacant 33% 2H14 FY15 FY16 FY17 FY18 FY19+ 67% Vacant FY14 FY15 FY16 FY17 FY18 FY19+ 23% 11% 2% 64% Offi ce Portfolio December 2013 51
use only 20 Lee Street, Henry Deane Building, Sydney, NSW 26-30 Lee Street, Gateway Building, Sydney, NSW 1E Homebush Bay Drive, Rhodes, NSW 7 The Henry Dean Building is an eight storey commercial office building completed in late 2001. The building forms part of the Henry Deane Railway Square Precinct. 8 The Gateway Building is an eight storey building with a terrace area on level seven. The building forms part of the Henry Deane Railway Square Precinct. 9 The property comprises the common facilities for Australand s Rhodes Corporate Park development including a café, childcare centre, car wash, gym, pool and common parking areas. Rhodes Corporate Park is located approximately 14 kilometres west of the Sydney CBD. Offi ce Offi ce Offi ce NLA (square metres) 9,112 No. car parking spaces 31 % of portfolio 1.96% NLA (square metres) 12,601 No. car parking spaces 44 % of portfolio 3.16% NLA (square metres) 1,053 No. car parking spaces 43 % of portfolio 0.25% State Government of NSW Commonwealth Government All About Children, AGN Holdings, Hiso Car Care WALE (years) 2.92 WALE (years) 3.34 WALE (years) 12.57 NABERS energy rating 4.00 NABERS energy rating 4.50 NABERS energy rating N/A $46,800,000 $75,400,000 $6,000,000 Capitalisation rate 8.50% Capitalisation rate 8.00% Capitalisation rate 7.75% Independent valuation $46,700,000 Independent valuation $73,000,000 Independent valuation $5,900,000 FY16For personal Capitalisation rate 8.50% Discount rate 9.25% Lease expiry profile Vacant FY14 FY15 FY17 100% Valuation date 30 Jun 12 Capitalisation rate 8.13% Discount rate 9.25% Lease expiry profile Vacant FY14 FY15 FY16 FY17 100% Capitalisation rate 7.75% Discount rate N/A FY18 FY19+ FY18 FY19+ <1% 52 Australand Property Portfolio December 2013 Offi ce Portfolio December 2013 53
Office Queensland Property Portfolio 31 Dec 2013 office portfolio. Office Property 28 Southbank Boulevard Southbank, VIC 97 School Street, Spring Hill, QLD 138 Ferny Avenue, Surfers Paradise, QLD 10 Spring Hill is a popular inner city location, situated one kilometre north of the Brisbane CBD. The property comprises a two level office building with basement parking. 11 Comprises two units within a two tower hotel apartment building. Offi ce Offi ce (Other) NLA (square metres) 2,255 No. car parking spaces 48 % of portfolio 0.27% Occupancy 0% NLA (square metres) 2 Units No. car parking spaces - % of portfolio 0.01% - WALE (years) - NABERS energy rating 2.00 WALE (years) NABERS energy rating TOUR AUST Hotels N/A N/A $6,500,000 $186,000 Capitalisation rate 9.50% Independent valuation $6,800,000 Capitalisation rate 6.00% Independent valuation $220,000 Valuation date 31 Dec 11 Capitalisation rate 9.50% Discount rate 10.00% Capitalisation rate Discount rate N/A N/A 54 Australand Property Portfolio December 2013 55
Office Property Portfolio 31 Dec 2013 Victoria office portfolio. 357 Collins Street, Melbourne, VIC 690 Springvale Road & 350 Wellington Road, Mulgrave, VIC CALDER FWY Airport HUME HWY HUME FWY 12 Located in the heart of Collins Street financial district in Melbourne s CBD the asset comprises over 30,000 square metres of A-Grade office accomodation and retail amenity. Completed in 2012 the building has been designed to achieve a 4 star Green Star rating and a 5.0 star NABERS rating. Offi ce 13 This suburban office complex was developed in 2002 and is located approximately 20 kilometres southeast of the Melbourne CBD within an established business precinct. With two street frontages and abundant onsite parking, the complex provides excellent access to Melbourne s transport networks. Offi ce MELTON HWY NLA (square metres) 32,110 NLA (square metres) 21,433 WESTERN FWY DEER PARK BYPASS Melbourne CBD Melbourne Southbank Richmond EASTERN FWY BURWOOD HWY MAROONDAH HWY No. car parking spaces 40 % of portfolio 8.33% Occupancy 84% WALE (years) 6.26 Commonwealth Bank, Service Stream No. car parking spaces 1362 % of portfolio 3.29% Kmart, Coles, Toll Holdings WALE (years) 3.97 NABERS energy rating 5.00 NABERS energy rating 1.00 PRINCES FWY NEPEAN HWY PRINCES HWY EAST LINK MONASH FWY Mulgrave Capitalisation rate 6.75% $198,914,029 $78,600,000 Capitalisation rate 9.00% Independent valuation $198,500,000 Independent valuation $76,600,000 Dandenong Valuation date 31 Dec 12 Capitalisation rate 6.75% Capitalisation rate 9.00% Discount rate 8.85% Number of properties at each location Melbourne 357 Collins Street Mulgrave 690 Springvale Road & 350 Wellington Road Richmond 658 Church Street Southbank 2 Southbank Boulevard 28 Southbank Boulevard Freshwater Place, Public Car Park Lease expiry profile Vacant FY14 FY15 FY16 FY17 16% FY18+ 15% FY19+ 69% Lease expiry profile Vacant FY14 FY15 FY16 FY17 72% FY18 14% FY19+ 14% 56 Australand Property Portfolio December 2013 Offi ce Portfolio December 2013 57
658 Church Street, Richmond, VIC 2 Southbank Boulevard, Southbank, VIC 28 Southbank Boulevard, Southbank, VIC Freshwater Place, Public Car Park, Southbank, VIC 14 Completed in 2000, the building comprises three levels of office accommodation. The property is situated within an established business park area which is recognised as one of Melbourne s premier suburban office precincts with close proximity to Melbourne CBD and public transport. 15 This landmark A grade office tower with premium grade services is located within the Freshwater Place precinct which includes retail, food and amenity. The building has achieved a 4 star Green Star rating and a 4.5 star NABERS rating. 16 This A grade office tower, developed in 2008, is located adjacent to the Melbourne CBD. The development has direct access to Flinders Street station, trams and the Melbourne Freeway network. This building has achieved a 4 star Green Star rating and a 5.0 star NABERS rating. 17 This basement level facility was constructed in 2005 and is situated directly beneath the Freshwater Place precinct adjacent to the Yarra River and Melbourne CBD. The car park has 267 public car parking spaces with direct access to the Melbourne Freeway network. Offi ce Offi ce Offi ce Offi ce Ownership 50% Ownership 50% NLA (square metres) 8,049 NLA (square metres) 54,922 NLA (square metres) 33,993 NLA (square metres) N/A No. car parking spaces 283 No. car parking spaces 545 No. car parking spaces 250 No. car parking spaces 267 % of portfolio 1.48% % of portfolio 8.55% % of portfolio 5.01% % of portfolio 0.64% Pacifi c Brands, Country Road, Commonwealth Government, Smart Group Pricewaterhouse Coopers, SPI Electricity, Microsoft, HJ Heinz, Vanguard Minmetals, CPA Australia, Parsons Brinckerhoff, Publicis Group, Nexus Energy Australand Car Park Operations WALE (years) 3.40 WALE (years) 3.36 WALE (years) 5.16 WALE (years) 6.43 NABERS energy rating 4.00 NABERS energy rating 4.50 NABERS energy rating 5.00 NABERS energy rating N/A $35,250,000 $204,100,000 $119,600,000 $15,300,000 Capitalisation rate 6.85% Capitalisation rate 7.00% Capitalisation rate 7.50% Independent valuation $34,400,000 Independent valuation $196,500,000 Independent valuation $119,600,000 Independent valuation $15,200,000 Valuation date 31 Dec 12 Valuation date 30 Jun 12 Capitalisation rate 7.00% Capitalisation rate 7.00% Capitalisation rate 7.50% Discount rate 9.25% Discount rate 9.00% Discount rate 8.75% Discount rate N/A Lease expiry profile Vacant FY14 FY15 FY16 FY17 FY18+ FY19+ 36% 2% 30% 14% 18% Lease expiry profile Vacant FY14 FY15 FY16 FY17 2% FY18+ 2% FY19+ 20% 32% 44% Lease expiry profile 58 Australand Property Portfolio December 2013 Offi ce Portfolio December 2013 59 Vacant FY14 FY15 FY17 3% FY16 17% FY18+ 5% FY19+ 75%
Property 170 Atlantic Drive Keysborough, VIC Contact. 60For personal use only Australand Head Office Level 3, 1C Homebush Bay Drive Rhodes NSW 2138 P +61 2 9767 2000 For further information please contact: Robert Wallace General Manager, Investment Property P +61 3 9426 1000 Narelle Checchin Investor Relations Manager P +61 2 9767 2000 61