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ABACUS GROUP — Annual Report 2016
Oct 27, 2016
64280_rns_2016-10-27_cc6dc9fd-ef9a-4298-bca9-5c3db86ec9f1.pdf
Annual Report
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Property Book 2016 101
CONTENTS
02 Investment portfolio 03 Retail properties 06 Office properties 12 Industrial properties
16 Storage properties – ACT 17 Storage properties – NSW 21 Storage properties – NZ 24 Storage properties – QLD 28 Storage properties – VIC 34 Minority properties
37 Small properties, inventory and other assets
102 Abacus Property Group
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710 collins street
melbourne vic
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Property Book 2016 01
INVESTMENT PORTFOLIO
The principal investment property portfolio comprises asset owned 50% or more by Abacus:
| BOOK VALUE | ||
| CONTENT | SECTOR | $ MILLION |
| Principal investment portfolio | Diversified | 871 |
| Storage investment portfolio | Storage | 574 |
| Minority assets | Diversified | 64 |
| Small properties, Inventory and other assets | Diversified | 59 |
| TOTAL | 1,568 |
ABACUS PROPERTY GROUP IS A DIVERSIFIED LISTED A-REIT INCLUDED IN THE S&P/ASX 200 INDEX (ASX:ABP)
As at 30 June 2016, Abacus Property Group had $1,568 million in total property assets on balance sheet. This total comprises the principal investment portfolio and the storage investment portfolio as well as a number of smaller portfolios.
Interests in a number of the above properties are held through joint ventures for which we equity account.
Further information on Abacus’ activities is available from our website at www.abacusproperty.com.au
| BOOK VALUE | |||
|---|---|---|---|
| PROPERTY | STATE | SECTOR | $ MILLION |
| Ashfield Mall, Ashfield | NSW | Retail | |
| Liverpool Plaza, Liverpool | NSW | Retail | |
| Bacchus Marsh Village Shopping Centre, Bacchus Marsh | VIC | Retail | |
| Lutwyche City Shopping Centre, Brisbane | QLD | Retail | |
| Total Retail | 344 | ||
| 710 Collins Street, Melbourne | VIC | Office | |
| Westpac House, Adelaide | SA | Office | |
| 201 Pacific Highway, St Leonards | NSW | Office | |
| 51 Allara Street, Canberra | ACT | Office | |
| 14 Martin Place, Sydney | NSW | Office | |
| Virginia Park, Bentleigh East | VIC | Office | |
| 33 Queen Street, Brisbane | QLD | Office | |
| Varsity Lakes properties, Gold Coast | QLD | Office | |
| Total Office | 436 | ||
| 1769 Hume Highway, Campbellfield | VIC | Industrial | |
| Mina Parade, Alderley | QLD | Industrial | |
| PMP, Browns Road, Clayton | VIC | Industrial | |
| 169 Australis Drive, Derrimut | VIC | Industrial | |
| Pinkenba properties, Pinkenba | QLD | Industrial | |
| Total Industrial | 91 | ||
| TOTAL | 871 |
02 Abacus Property Group
RETAIL PROPERTIES
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Ownership interest 100%
Cap rate 6.0%
Valuation date April 2016
Acquisitions date September 1997
Site area 21,890m [2]
Net lettable area 24,661m [2]
Occupancy 97%
WALE by income 5.9 years
Rent review
CPI and Fixed
structure
Major tenants Woolworths, Coles, Kmart
by income and ALDI
Parking spaces 1,074
Valuation range
$70-80m $80-90m $90-100m $100-150m $150m+
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Ownership interest 100%
Cap rate 7.38%
Valuation date June 2015
Acquisition date August 2004
Site area 8,904m [2]
Net lettable area 6,071m [2]
Occupancy 91%
WALE by income 4.1 years
Rent review
CPI and Fixed
structure
Major tenants ALDI, ANZ, St George
by income and IMB
Parking spaces 300
Valuation range
$0-20m $20-30m $30-40m $40-50m $50-60m
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ASHFIELD MALL
LIVERPOOL ROAD, ASHFIELD, NSW
Ashfield Mall is a sub-regional shopping centre located 10km south-west of the Sydney CBD, close to the railway station and bus interchange. The fully enclosed four level building has four anchor tenants and over 80 specialty shops. The centre’s MAT (Moving Annual Turnover) has increased to over $190 million since acquisition.
Ashfield is a core asset that we have owned for many years. Our strategy remains to position Ashfield Mall as the quality food and convenience offer for the Sydney inner west suburbs. Recent DA approvals will result in an upgrade to the centre’s frontage, signage and forecourt positively enhancing the centres ambience with improved alfresco dining options. We anticipate further growth in MAT as we improve the fresh food offering and continue to re-mix tenancies improving the overall retail offer.
Additional development projects will add extra retail NLA and childcare facilities for 100 children and a 700m[2] 24 hour gym.
LIVERPOOL PLAZA MACQUARIE STREET, LIVERPOOL, NSW
Liverpool Plaza is a neighbourhood shopping centre occupying a prime location on the Macquarie pedestrian mall in the Liverpool CBD, approximately 34km south-west of the Sydney CBD. The fully enclosed centre comprises of 50+ ground floor retail tenancies, mezzanine level offices and 300 car parks in an open rooftop. Liverpool Plaza completed a full refurbishment by 2013 which has modernised the internal retail malls, improved entry canopies and upgraded external facades.
Our continued strategy revolves around leasing up vacant space following its refurbishment program, to deliver an interesting CBD retail offer including dining and fast food in addition to its current supermarket and fresh food offer.
Property Book 2016 03
RETAIL PROPERTIES CONTINUED
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Ownership interest 100%
Cap rate 6.75%
Valuation date December 2015
Acquisition date July 2013
Site area 47,308m [2]
Net lettable area 17,427m [2]
Occupancy 73%
WALE by income 4.1 years
Rent review
CPI and Fixed
structure
Major tenants
Coles, ALDI and Target Country
by income
Parking spaces 680
Valuation range
$20-30m $30-40m $40-50m $50-60m $60-70m
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Ownership interest 75%
Cap rate 7.25%
Valuation date July 2015
Acquisition date October 2015
Site area 21,946m [2]
Net lettable area 18,891m [2]
Occupancy 81%
WALE by income 4.8 years
Rent review
CPI and Fixed
structure
Major tenants
Coles and ALDI
by income
Parking spaces 823
Valuation range
$30-40m $40-50m $50-60m $60-70m $80-90m
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BACCHUS MARSH VILLAGE SHOPPING CENTRE 176 MAIN STREET, BACCHUS MARSH, VIC
Bacchus Marsh Village Shopping Centre is a sub-regional centre located approximately 49km west of Melbourne’s CBD. The Centre forms a large and integral part of Bacchus Marsh’s retail and commercial precinct and is the township’s key shopping strip.
The centre has undergone a very strong redevelopment with a number of projects including expansions and full refurbishments of its main anchors Coles and ALDI. These anchor tenants are supported by 68 specialties. The centre has been positioned as the convenience shopping destination for all residents of Bacchus and its primary trade area. Improved car parking on site comprises a mixture of on-grade and multi-level deck parking for approximately 680 vehicles.
Our main focus is to deliver 100% occupancy in line with the development project leasing strategy which will be enhanced following the finalisation and full refurbishment of the Coles supermarket expansion.
Vacant land on site has been developed into a Coles express service station which will increase customer visitation and provide valuable capital appreciation.
LUTWYCHE CITY SHOPPING CENTRE CNR LUTWYCHE ROAD AND CHALK STREET, LUTWYCHE, QLD
Lutwyche City Shopping Centre is a large format four-level enclosed neighbourhood shopping centre, 5km north of the Brisbane CBD. The shopping centre is in the heart of Lutwyche, an established inner city residential suburb. The centre is the dominant convenience centre servicing local residents and is well located with exposure to major transport corridors and the local public transport hub.
The 18,883m[2] centre has 12,103m[2] of gross lettable area (GLA) anchored by Coles and ALDI supermarkets, two mini majors and approx. 5,659m[2] of specialty GLA. Lutwyche City also has 6,441m[2] of office space and an adjacent freestanding 384m[2] childcare facility.
The centre has strong repositioning opportunities and is currently undergoing refurbishment and redevelopment projects in line with strategic plans for dominating its primary trade area for the convenience shopper.
04 Abacus Property Group
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33 queen street
brisbane qld
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Property Book 2016 05
OFFICE PROPERTIES
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Ownership interest 100%
Cap rate 6.13%
Valuation date December 2014
Acquisition date December 2014
Site area 7,795m [2]
Net lettable area 11,236m [2]
Occupancy 100%
WALE by income 7.8 years
Rent review
CPI and Fixed
structure
Major tenants Places Victoria and Victorian
by income Building Authority
Parking spaces –
Valuation range
$50-60m $60-70m $70-80m $80-90m $90-100m
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Ownership interest 50%
Cap rate 7.75%
Valuation date November 2014
Acquisition date October 2004
Site area 4,287m [2]
Net lettable area 31,773m [2]
Occupancy 88%
WALE by income 3.7 years
Rent review
CPI and Fixed
structure
Major tenants Westpac and
by income SA Government
Parking spaces 54
Valuation range
$30-40m $40-50m $50-60m $60-70m $70-80m
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710 COLLINS STREET, DOCKLANDS, MELBOURNE, VIC
The property occupies a rectangular block of c.7,800m[2] spanning between Collins Street and Bourke Street within the Batman’s Hill precinct in the heart of Melbourne’s docklands main commercial office precinct. The property is surrounded by major commercial office towers and has almost immediate access to southern cross station.
The property is a historic heritage listed former railway warehouse of the late 19th century (known as the Goods Shed) which was transformed into a two level commercial office building over 2008-2010 following a significant refurbishment and development program. A 4 story retail and commercial building has been added at the Collins Street end. The property is substantially leased to the Victorian Government until 2024.
While the property is considered a core asset hold, it has strong development opportunities at its Collins Street end for an enhanced office tower development. We are investigating all development options.
WESTPAC HOUSE 91 KING WILLIAM STREET, ADELAIDE, SA
Westpac House at 91 King William Street is a premium grade office property located in central Adelaide with four street frontages. The property comprises a 31 level office tower and two small office buildings. Abacus has a 50% interest in the property with the remaining 50% owned by one of Abacus’ managed funds. This building holds a 4.0 star NABERS rating.
The property continues to shoe promising repositioning and leasing opportunities to further grow revenue.
06 Abacus Property Group
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Ownership interest 50%
Cap rate 7.25%
Valuation date March 2015
Acquisition date August 2015
Site area 4,718m [2]
Net lettable area 16,499m [2]
Occupancy 97%
WALE by income 2.1 years
Rent review
CPI and Fixed
structure
Major tenants Cisco Systems, Coles, NAB and
by income Primary Health Care
Parking spaces 262
Valuation range
$30-40m $40-50m $50-60m $60-70m $70-80m
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Ownership interest 100%
Cap rate 8.25%
Valuation date December 2014
Acquisition date January 2008
Site area 3,973m [2]
Net lettable area 13,255m [2]
Occupancy 100%
WALE by income 3.7 years
Rent review
Fixed
structure
Dept of Resources, Energy and
Major tenants
Tourism and Murray Darling
by income
Basin Commission
Parking spaces 163
Valuation range
$0-20m $20-30m $30-40m $40-50m $50-60m
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201 PACIFIC HIGHWAY ST LEONARDS, SYDNEY, NSW
The property is part of the Forum complex, a master planned development completed in the early 2000s. Forum is located at the foot of the St Leonards railway station providing excellent amenity and proximity for tenants. Forum consists of a number of stratums including 201 Pacific Highway, an adjoining office building and a number of residential towers.
The property comprises an A grade building which includes 13,841m[2] of office, 2,688m[2] of retail and 262 car spaces. The retail comprises 20 tenancies in the Forum plaza adjoining the railway station. This building holds a 3.5 star NABERS rating.
We are exploring a stratum sub-division of the retail and office to enable the sale of individual strata retail shops to retail investors. We expect them to trade at substantially reduced cap rates to the original acquisition cap rate.
51 ALLARA STREET CANBERRA, ACT
This eight level office block is centrally located on the intersection of Constitution Avenue and Allara Street in the Canberra CBD in the centre of a major government office precinct. The property was substantially refurbished in 2011 and recently underwent an upgrade and now achieves a 5.0 star NABERS rating.
Property Book 2016 07
OFFICE PROPERTIES CONTINUED
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Ownership interest 50%
Cap rate 6.13%
Valuation date December 2014
Acquisition date June 2011
Site area 1,103m [2]
Net lettable area 13,139m [2]
Occupancy 95%
WALE by income 3.2 years
Rent review
CPI and Fixed
structure
Major tenants International Bank, IRESS and
by income Ross HR
Parking spaces –
Valuation range
$30-40m $40-50m $50-60m $60-70m $70-80m
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Ownership interest 50%
Cap rate 8.00%
Valuation date September 2015
Acquisition date April 2006
Site area 123,460m [2]
Net lettable area 57,077m [2]
Occupancy 80%
WALE by income 2.5 years
Rent review
CPI and Fixed
structure
Major tenants Xtralis, Vision Systems
by income and Officeworks
Parking spaces 1,680
Valuation range
$0-20m $20-30m $30-40m $40-50m $50-60m
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14 MARTIN PLACE SYDNEY, NSW
The building is located in a prime corner position in the centre of Sydney’s prestigious financial district. The property consists of an 8 level heritage façade office building, built in circa 1892 that fronts Martin Place and an interconnecting 20 level office tower fronting Pitt Street. The entire structure includes 1,251m[2] of ground and lower ground floor retail. This building has an improved 3.5 star NABERS rating.
Recent completion of ground floor development increasing occupancy to 95%.
VIRGINIA PARK BENTLEIGH EAST, VIC
Virginia Park is situated predominately in a residential location in Bentleigh East approximately 13km south east of Melbourne. Virginia Park is a sizeable business park providing a mixture of industrial and office buildings as well as supporting facilities including gymnasium, swim centre, child care centre, children’s play centre, café, yoga centre and martial arts centre. The site has recently been enhanced following the purchase of a neighbouring site that offers expansion potential while a section has been approved for residential development. Abacus is currently assessing it development options for the site.
08 Abacus Property Group
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Ownership interest 100%
Cap rate 8.00%
Valuation date June 2015
Acquisition date May 2013
Site area 1,158m [2]
Net lettable area 5,997m [2]
Occupancy 57%
WALE by income 1.4 years
Rent review
CPI and Fixed
structure
Major tenants Members Equity and First
by income Commercial Bank of Taiwan
Parking spaces 16
Valuation range
$0-10m $10-30m $30-40m $40-50m $50-60
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33 QUEEN STREET BRISBANE, QLD
This property consists of two buildings 33 Queen Street and 199 George Street. 33 Queen Street is an historic seven level building with frontage to the Queen Street Mall and immediately adjoining and connected is 199 George Street, a recently constructed modern office and retail tower with frontage to George Street. 33 Queen Street has an unrivalled location at the top of Queen Street Mall, on one of Brisbane’s best corners. The heritage building has total NLA of 3,313m[2] , including 1,290m[2] of retail space and 2,023m[2] leased to a number of smaller tenants. 199 George Street is a near new 2,769m[2] ten level, A grade commercial office building that connects to all floors of the adjoining heritage building.
We have commenced a rolling refurbishment and repositioning strategy with individual floors and providing tailored office suits to tenants.
Property Book 2016 09
OFFICE PROPERTIES CONTINUED
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RP1 Building – Cnr Main Street & Bellvue Drive
Ownership interest 100%
Cap rate N/A
Valuation date December 2014
Acquisition date September 2007
Site area 8,670m [2]
Net lettable area 3,743m [2]
Occupancy 86%
WALE by income 1.9 years
Rent review
structure –
Major tenants
Arcadia College
by income
Parking spaces 96
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| b | AAPT Building– 169 VarsityParade |
|---|---|
| Ownershipinterest 100% |
|
| Caprate N/A |
|
| Valuation date December 2014 |
|
| Acquisition date September 2007 |
|
| Site area 13,000m2 |
|
| Net lettable area 3,356m2 |
|
| Occupancy 100% |
|
| WALE byincome 2.5years |
|
| Rent review structure Fixed |
|
| Major tenants byincome National Broadband Network and Bank of Queensland |
|
| Parking spaces 174 |
|
VARSITY LAKES PROPERTIES VARSITY LAKES, QLD
Varsity Lakes is a fully planned urban community surrounding Bond University located approximately 9km south-west of the Surfers Paradise CBD. It includes approximately 3,000 dwellings, a university, sports and recreational, shopping, dining and office facilities. Local planning guidelines allow an 8 level height limit and encourage mixed use development. RP1 Building, corner Main Street and Bellvue Drive is a three level office building. AAPT Building, 169 Varsity Parade is a single level building. The two properties offer potential for redevelopment given their large sites and under-utilised FSR. 169 Varsity Parade has a 4.0 star NABERS rating.
Valuation range
$0-10m $10-30m $30-40m $40-50m $50-60
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10 Abacus Property Group
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14 martin place
sydney nsw
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Property Book 2016 11
INDUSTRIAL PROPERTIES
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Ownership interest 100%
Cap rate 11.50%
Valuation date June 2014
Acquisition date November 2007
Site area 66,240m [2]
Gross lettable area 26,946m [2]
Occupancy 100%
WALE by income 5.0 years
Rent review
CPI
structure
Major tenants
Venture Industries Australia
by income
Parking spaces Plentiful
Valuation range
$0-10m $10-30m $30-40m $40-50m $50-60m
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Ownership interest 100%
Cap rate 8.47%
Valuation date June 2016
Acquisition date September 2007
Site area 46,690m [2]
Gross lettable area 22,973m [2]
Occupancy 82%
WALE by income 1.3 years
Rent review
Fixed annual 4%
structure
Major tenants Insitu Pacific and
by income Indoor Sports
Parking spaces 142
Valuation range
$0-10m $10-30m $30-40m $40-50m $50-60m
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1769 HUME HIGHWAY CAMPBELLFIELD, VIC
Campbellfield is a prominent industrial location approximately 17km north of Melbourne CBD adjacent to the Hume Highway, which provides excellent access to main transport routes. 1769 Hume Highway is a substantial industrial facility with a 214m frontage to the Hume Highway, two entrances and an internal roadway to facilitate drive through truck movements.
95 & 117 MINA PARADE ALDERLEY, QLD
Alderley is an established inner city residential suburb of Brisbane located approximately 5km north of the CBD. This property comprises office/warehouse buildings and is close to public transport, schools and retail amenities. Future plans envisage residential development and tenants are currently on short term leases.
12 Abacus Property Group
INDUSTRIAL PROPERTIES CONTINUED
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Ownership interest 100%
Cap rate 7.75%
Valuation date May 2015
Acquisition date June 2013
Site area 60,800m [2]
Gross lettable area 31,873m [2]
Occupancy 100%
WALE by income 6.9 years
Rent review
Fixed
structure
Major tenants
PMP Limited
by income
Parking spaces Plentiful
Valuation range
$0-10m $10-30m $30-40m $40-50m $50-60m
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Ownership interest 100%
Cap rate 7.75%
Valuation date December 2015
Acquisition date October 2013
Site area 56,330m [2]
Gross lettable area 30,994m [2]
Occupancy 100%
WALE by income 1.2 years
Rent review
Fixed
structure
Susskind & Danziger Pty Ltd,
Major tenants
Hitachi Transport Systems and
by income
United Wholesalers
Parking spaces 220
Valuation range
$0-10m $10-30m $30-40m $40-50m $50-60m
$0-10m $10-30m $30-40m $40-50m $50-60m
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PMP, BROWNS ROAD
CLAYTON, VIC
This property has been contracted to be sold for $51.5 million.
169 AUSTRALIS DRIVE DERRIMUT, VIC
The site is located in one of Melbourne’s fastest growing and well regarded industrial suburbs 16km west of the Melbourne CBD. The property is situated on Australis Drive, forming part of Australand’s West Park Industrial Estate. The site has good access major transport highways and ring roads and is surrounded by a number of other high quality industrial estates.
The warehouse was completed in August 2013 and consists of a front single storey office which is attached to a rear high bay warehouse which has loading access to its eastern and western boundaries. It is leased to three tenants with staggered lease profiles with a configuration that is flexible to split into four tenancies or consolidate into 1 or 2 tenancies. This provides expansion opportunities for existing tenants to expand should vacancies arise.
Property Book 2016 13
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26 Savage Street
Ownership interest 100%
Cap rate N/A
Valuation date June 2016
Acquisition date January 2004
Site area 23,490m [2]
Gross lettable area 5,859m [2]
Occupancy 100%
Lease expiry 3.1 years
Rent review
Every 3 years
structure
Major tenants
Hi-Fert Pty Ltd
by income
Parking spaces 18
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PINKENBA PROPERTIES
26 SAVAGE STREET & 681 CURTIN AVENUE BRISBANE, QLD
Pinkenba is located approximately 10km from the Brisbane CBD, close to Brisbane Airport, port and rail facilities and major roads. The property is improved with a purpose built warehouse building, freestanding single level office building and amenities. Other improvements include an external storage area, fuel storage, weighbridge, concrete and bitumen hardstand and 18 car parking bays.
26 Savage Street has a long-term land lease where annual rental is equal to 8.0% of the land value which is reviewed every three years. Ownership of the improvements lies with the tenant, but revert to Abacus if not removed at the end of the lease term.
681 Curtin Avenue has a net lease structure until Feb 2017 with annual CPI or 3.5% fixed increases.
Valuation range
$0-10m $10-30m $30-40m $40-50m $50-60m
| 681 Curtin Avenue | |
|---|---|
| Ownershipinterest 100% |
|
| Caprate N/A |
|
| Valuation date June 2016 |
|
| Acquisition date January2004 |
|
| Site area 19,410m2 |
|
| Gross lettable area 4,745m2 |
|
| Occupancy 100% |
|
| Lease expiry 0.7years |
|
| Rent review structure Fixed annual 3.5% |
|
| Major tenants byincome Saint-Gobain Ceramic Materials |
|
| Parking spaces 40 |
14 Abacus Property Group
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201 pacific hwy
st leonards nsw
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Property Book 2016 15
STORAGE PROPERTIES — ACT
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Land area 17,784m [2]
Net lettable area 8,361m [2]
Valuation date June 2016
Valuation range
$0-5m $5-10m $10-15m $15-20m $20m+
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CANBERRA FYSHWICK
25 IPSWICH STREET, FYSHWICK
This purpose-built storage facility has excellent main frontage to Ipswich Street, comprises 10 buildings for storage accommodation and one additional building.
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Land area 27,218m [2]
Net lettable area 10,510m [2]
Valuation date June 2016
Valuation range
$0-5m $5-10m $10-15m $15-20m $20m+
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CANBERRA BELCONNEN
86 NETTLEFORD STREET, BELCONNEN
This purpose-built storage facility currently comprising both single and double level storage buildings. Adjoining the storage component is a small commercial property.
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Land area 21,889m [2]
Net lettable area 10,237m [2]
Valuation date June 2016
Valuation range
$0-5m $5-10m $10-15m $15-20m $20m+
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CANBERRA KAMBAH
15-17 JENKE CIRCUIT, KAMBAH
This purpose-built facility fronting Jenke Circuit running parallel to Drakeford Drive, a major roadway connecting the Tuggeranong Town Centre to the CBD of Civic. The existing facility comprises 6 detached storage buildings, with a single level office and two residences. Additional land was purchased opposite the existing operation with a series of single level, drive up storage buildings developed in 2012.
16 Abacus Property Group
STORAGE PROPERTIES — NSW
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Land area 6,703m [2]
Net lettable area 2,261m [2]
Valuation date June 2016
Valuation range
$0-5m $5-10m $10-15m $15-20m $20m+
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SYDNEY HOMEBUSH
21C RICHMOND ROAD, HOMEBUSH WEST
Situated approximately 12km west of the Sydney CBD, the site comprises a converted single level warehouse. The rear of the property contains surplus land which is currently leased out but presents future development opportunities.
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Land area 4,199
Lettable area 2,544
Valuation date June 2016
Valuation range
$0-5m $5-10m $10-15m $15-20m $20m+
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SYDNEY THORNLEIGH
25 SEFTON ROAD, THORNLEIGH
Located approximately 19km north west of the Sydney CBD, the recently developed facility comprises a converted industrial building with stage 1 completed and trading commenced in early 2015.
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Land area 6,036m [2]
Net lettable area 3,305m [2]
Valuation date June 2015
Valuation range
$0-5m $5-10m $10-15m $15-20m $20m+
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SYDNEY BLACKTOWN (ARNDELL PARK) 27 PENNY PLACE, BLACKTOWN
Located adjacent to the existing Blacktown facility. This site provides up to 3,300m² of gross floor area. Partially integrates with existing operations to provide mix of storage and warehouse space until demand warrants full conversion to storage.
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----- Start of picture text -----
Land area 1,846
Net lettable area 2,247
Valuation date June 2016
Valuation range
$0-5m $5-10m $10-15m $15-20m $20m+
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SYDNEY ST PETERS
258-590 PRINCES HIGHWAY, ST PETERS
Located approximately 7km south of the Sydney CBD, the facility commenced trading in 2015 and comprises an industrial building fitted out for storage over 3 levels.
Property Book 2016 17
STORAGE PROPERTIES — NSW CONTINUED
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----- Start of picture text -----
Land area 10,740m [2]
Net lettable area 6,782m [2]
Valuation date June 2016
Valuation range
$0-5m $5-10m $10-15m $15-20m $20m+
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SYDNEY BLACKTOWN
29 PENNY PLACE, BLACKTOWN
Located 34km west of the Sydney CBD and 10km west of Parramatta in an industrial precinct, this modern facility comprises eight storage buildings and an office/residence.
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----- Start of picture text -----
Land area 1,701m [2]
Net lettable area 3,223m [2]
Valuation date June 2015
Valuation range
$0-5m $5-10m $10-15m $15-20m $20m+
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SYDNEY BALMAIN
100 BEATTIE STREET, BALMAIN
Located 4km west of the Sydney CBD, this converted industrial building is in a suburb with high residential density and small scale commercial activities.
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----- Start of picture text -----
Land area –
Lettable area 11,110m [2]
Valuation date December 2015
Valuation range
$0-5m $5-10m $10-15m $15-20m $20m+
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SYDNEY LANE COVE
27 MARS ROAD, LANE COVE
Located 11km north-west of the Sydney CBD, the facility occupies over 90% of a six level strata industrial warehouse. The area is surrounded by densely populated suburbs and has good access to major transport links.
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----- Start of picture text -----
Land area 841m [2]
Net lettable area 1,780m [2]
Valuation date June 2016
Valuation range
$0-5m $5-10m $10-15m $15-20m $20m+
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SYDNEY WOOLLOOMOOLOO 11-25 PALMER STREET, WOOLLOOMOOLOO
Located very close to the Sydney CBD, the property is a refurbished 3 level plus mezzanine building. Demand is driven by high density neighbouring suburbs. The property presents a future possible alternate use redevelopment opportunity.
18 Abacus Property Group
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----- Start of picture text -----
Land area 9,225m [2]
Net lettable area 3,941m [2]
Valuation date June 2015
Valuation range
$0-5m $5-10m $10-15m $15-20m $20m+
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SYDNEY GREENACRE
24A ANZAC STREET, GREENACRE
Located approximately 16km south-west of the Sydney CBD, this facility comprises six purpose-built storage buildings and an adapted former timber mill building with surplus land for future development.
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----- Start of picture text -----
Land area –
Net lettable area 5,253
Valuation date March 2014
Valuation range
$0-5m $5-10m $10-15m $15-20m $20m+
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SYDNEY ROZELLE
10 PARSONS STREET, ROZELLE
Located 3km west of the Sydney CBD, the leasehold facility comprises a purpose built 4 level storage facility with high level of amenity and exposure.
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----- Start of picture text -----
Land area 21,150
Net lettable area 5,890
Valuation date December 2015
Valuation range
$0-5m $5-10m $10-15m $15-20m $20m+
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SYDNEY ROUSE HILL
LOT 5 MILE END ROAD, ROUSE HILL
The subject property consists of a single industrial/commercial building. The property currently has two tenancy areas, with one fitted out for storage and where trading commenced in late 2015.
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----- Start of picture text -----
Land area –
Net lettable area 3,689
Valuation date December 2014
Valuation range
$0-5m $5-10m $10-15m $15-20m $20m+
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CASTLE HILL
5 GLADESTONE ROAD, CASTLE HILL
Located approximately 25km north west of the Sydney CBD, the facility is part of a strata complex with the store opening in mid 2014.
Property Book 2016 19
STORAGE PROPERTIES — NSW CONTINUED
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----- Start of picture text -----
Land area 4,909m [2]
Net lettable area 4,500m [2]
Valuation date June 2015
Valuation range
$0-5m $5-10m $10-15m $15-20m $20m+
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MACQUARIE PARK
117 WICKS ROAD, MACQUARIE PARK
Located approximately 14km north west of the Sydney CBD, the property comprises two adjoining and interconnected commercial and warehouse style buildings. Council approval is in place to change the use and to fit out for self storage purposes.
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----- Start of picture text -----
Land area 4,344
Lettable area –
Valuation date October 2015
Valuation range
$0-5m $5-10m $10-15m $15-20m $20m+
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BROOKVALE
628 PITTWATER ROAD, BROOKVALE
The property is situated to the eastern side of Pittwater Road within an established suburb within the northern beaches area of Sydney, approximately 13km north of the Sydney CBD.
20 Abacus Property Group
STORAGE PROPERTIES — NZ
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----- Start of picture text -----
Land area 5,725m [2]
Net lettable area 2,953m [2]
Valuation date December 2015
Valuation range
$0-5m $5-10m $10-15m $15-20m $20m+
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DUNEDIN PORTOBELLO CNR PORTOBELLO ROAD AND PORTSMOUTH DRIVE, DUNEDIN
This purpose-built facility with office and residence occupies a prominent corner position 3km from the centre of Dunedin. This property is leasehold. The lease has perpetual rights of renewal for 21 year terms.
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----- Start of picture text -----
Land area 10,418m [2]
Net lettable area 5,034m [2]
Valuation date December 2015
Valuation range
$0-5m $5-10m $10-15m $15-20m $20m+
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AUCKLAND DANNEMORA
410 TE IRIRANGI DRIVE, EAST TAMAKI
Comprising five purpose-built storage buildings and an office building, this facility is located on a prominent site in an industrial precinct adjacent to a residential growth area in the Auckland region.
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----- Start of picture text -----
Land area 12,971m [2]
Net lettable area 7,170m [2]
Valuation date December 2015
Valuation range
$0-5m $5-10m $10-15m $15-20m $20m+
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AUCKLAND AVONDALE 376 ROSEBANK ROAD, AVONDALE
Located in a popular industrial location servicing the western suburbs of Auckland, this purpose-built facility with good access to the main motorway system. The facility includes an office and residence.
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----- Start of picture text -----
Land area 10,176m [2]
Net lettable area 5,429m [2]
Valuation date June 2015
Valuation range
$0-5m $5-10m $10-15m $15-20m $20m+
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AUCKLAND BOTANY DOWNS 100 ORMISTON ROAD, BOTANY SOUTH
This purpose-built facility is located in a commercial area of Auckland at the intersection of two major roads.
Property Book 2016 21
STORAGE PROPERTIES — NZ CONTINUED
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----- Start of picture text -----
Land area 6,177m [2]
Net lettable area 3,539m [2]
Valuation date June 2015
Valuation range
$0-5m $5-10m $10-15m $15-20m $20m+
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AUCKLAND NEW LYNN CNR PORTAGE ROAD AND CLARK STREET, NEW LYNN
Occupying a large site at the intersection of three arterial routes, this facility comprises four storage buildings and an office. It is close to a number of strongly growing residential areas in Auckland.
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----- Start of picture text -----
Land area 13,077m [2]
Net lettable area 5,670m [2]
Valuation date June 2015
Valuation range
$0-5m $5-10m $10-15m $15-20m $20m+
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AUCKLAND TAKAPUNA
19 HILLSIDE ROAD, TAKAPUNA
This large site has a prominent location in a retail and industrial area of Auckland. The facility was strata-titled into 76 individual titles of which Abacus owns 63 and leases the residual.
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----- Start of picture text -----
Land area 6,577m [2]
Net lettable area 5,408m [2]
Valuation date December 2015
Valuation range
$0-5m $5-10m $10-15m $15-20m $20m+
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AUCKLAND REMUERA
207 MERTON ROAD, REMUERA
Located in a central Auckland suburb, this purpose-built facility is set in a light industrial precinct close to Auckland University and highdensity residential suburbs.
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----- Start of picture text -----
Land area 9,457 m [2]
Net lettable area 3,688m [2]
Valuation date June 2015
Valuation range
$0-5m $5-10m $10-15m $15-20m $20m+
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AUCKLAND SWANSON ROAD 182 SWANSON ROAD, HENDERSON
This purpose-built facility is located in a prominent position in an established industrial and residential area. It comprises four single level storage buildings and an office building.
22 Abacus Property Group
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----- Start of picture text -----
Land area 10,100m [2]
Net lettable area 4,628m [2]
Valuation date June 2015
Valuation range
$0-5m $5-10m $10-15m $15-20m $20m+
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HAMILTON CENTRAL
31 RUAKURA ROAD, HAMILTON
The property is a purpose-built storage facility, located on a main arterial route on the northern side of the Hamilton CBD, adjacent to the University and other educational facilities.
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----- Start of picture text -----
Land area 10,120m [2]
Net lettable area 5,747m [2]
Valuation date December 2015
Valuation range
$0-5m $5-10m $10-15m $15-20m $20m+
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CHRISTCHURCH RICCARTON
444 BLENHEIM ROAD, RICCARTON
Located in a prominent position 6km west of the Christchurch CBD, this facility comprises purpose-built low-rise storage buildings, a converted warehouse building and a two level office and accommodation block.
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----- Start of picture text -----
Land area 9,011m [2]
Net lettable area 5,160m [2]
Valuation date December 2015
Valuation range
$0-5m $5-10m $10-15m $15-20m $20m+
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CHRISTCHURCH FERRYMEAD 980 FERRY ROAD, FERRYMEAD
Located on a principal traffic route in Christchurch, this purpose-built facility is also handily located to the Port of Lyttelton. The facility includes an office and residence.
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----- Start of picture text -----
Land area 1,130m [2]
Net lettable area 6,219m [2]
Valuation date February 2016
Valuation range
$0-5m $5-10m $10-15m $15-20m $20m+
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ST LUKES
7 WAGNER PLACE, ST LUKES
Located within a mixed use retail precinct on Wagener Place, approximately 5km south west of the Auckland CBD, the facility comprises part of the ground floor and 4 upper levels of purpose built self storage improvements.
Property Book 2016 23
STORAGE PROPERTIES — QLD
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----- Start of picture text -----
Land area 4,318m [2]
Net lettable area 2,441m [2]
Valuation date December 2015
Valuation range
$0-5m $5-10m $10-15m $15-20m $20m+
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TOWNSVILLE CONDON
1 REGIMENT COURT, CONDON
The property comprises an established self storage facility occupying a visible corner site in a central location. The facility is purposebuilt and comprises 5 buildings.
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----- Start of picture text -----
Land area 4,376m [2]
Net lettable area 2,105m [2]
Valuation date December 2015
Valuation range
$0-5m $5-10m $10-15m $15-20m $20m+
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TOWNSVILLE CURRAJONG 161-169 BAYSWATER ROAD, CURRAJONG
The property comprises 3 buildings on the site, which has access directly off Bayswater Road and secondary access to Reardon Street.
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----- Start of picture text -----
Land area 7,450m [2]
Net lettable area 3,483m [2]
Valuation date December 2015
Valuation range
$0-5m $5-10m $10-15m $15-20m $20m+
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TOWNSVILLE WEST END
8 INGHAM ROAD, WEST END
This established facility occupies a prominent site in close proximity to the Townsville CBD. The site contains 6 buildings and surplus land for further development.
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----- Start of picture text -----
Land area 6,000m [2]
Lettable area 3,260 m [2]
Valuation date December 2015
Valuation range
$0-5m $5-10m $10-15m $15-20m $20m+
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TOWNSVILLE IDALIA D’ARCY DRIVE, IDALIA
The purpose-built facility, comprises 5 buildings, and is located in close proximity to a major arterial intersection on the SE corner of the Townsville suburban area.
24 Abacus Property Group
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----- Start of picture text -----
Land area 11,270m [2]
Net lettable area 4,577m [2]
Valuation date December 2015
Valuation range
$0-5m $5-10m $10-15m $15-20m $20m+
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TOWNSVILLE MOUNT ST JOHN 4-8 CATALYST COURT, MOUNT ST JOHN
Located to the west of the Townsville CBD, the established facility contains 19 buildings which have been developed over time.
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----- Start of picture text -----
Land area 3,000m [2]
Net lettable area 3,093m [2]
Valuation date June 2015
Valuation range
$0-5m $5-10m $10-15m $15-20m $20m+
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BRISBANE BROWNS PLAINS
50 EASTERN ROAD, BROWNS PLAINS
This two level purpose-built facility is located within a commercial/industrial precinct 21km south of the Brisbane CBD on the Brisbane Gold Coast Corridor.
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Land area 6,285 m [2]
Net lettable area 4,799m [2]
Valuation date June 2016
Valuation range
$0-5m $5-10m $10-15m $15-20m $20m+
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KINGSTON
475 KINGSTON ROAD, KINGSTON
The property is a purpose-built storage facility, encompassing one 3 level and one 2 level building. The facility is located approximately 22km south-east of the Brisbane Central Business District.
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----- Start of picture text -----
Land area 7,720m [2]
Net lettable area 5,035m [2]
Valuation date June 2016
Valuation range
$0-5m $5-10m $10-15m $15-20m $20m+
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GOLD COAST MIAMI
6-14 OAK & 9 PARADISE AVE, MIAMI
Located 7km south of Surfers Paradise the facility comprises 2 multi-level buildings plus surplus land. This site has good exposure to the Gold Coast Highway. A separate two storey commercial building also forms part of the overall property.
Property Book 2016 25
STORAGE PROPERTIES — QLD CONTINUED
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----- Start of picture text -----
Land area 11,393m [2]
Net lettable area 7,291m [2]
Valuation date June 2015
Valuation range
$0-5m $5-10m $10-15m $15-20m $20m+
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BRISBANE CLEVELAND
4&5 GRANT STREET, CLEVELAND
Located 23km south-east of the Brisbane CBD in a retail precinct, these facilities include office accommodation, a residence and parking as well as purposebuilt multilevel storage buildings.
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----- Start of picture text -----
Land area 3,485m [2]
Net lettable area 3,004m [2]
Valuation date December 2015
Valuation range
$0-5m $5-10m $10-15m $15-20m $20m+
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BRISBANE YEERONGPILLY 985 FAIRFIELD ROAD, YEERONGPILLY
This long established facility occupies a highly visible location on a major arterial road close to other major roadways and established commercial and residential hubs. The facility comprises two internal levels of storage.
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----- Start of picture text -----
Land area 10,040m [2]
Net lettable area 6,283m [2]
Valuation date June 2016
Valuation range
$0-5m $5-10m $10-15m $15-20m $20m+
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BRISBANE ACACIA RIDGE
23 LEAROYD ROAD, ACACIA RIDGE
Located 14km south of the Brisbane CBD in a primarily industrial suburb, this purpose-built facility has surplus land with future development potential to expand the facility.
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----- Start of picture text -----
Land area 3,264m [2]
Lettable area 3,284m [2]
Valuation date June 2015
Valuation range
$0-5m $5-10m $10-15m $15-20m $20m+
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BRISBANE SALISBURY 148 EVANS ROAD, SALISBURY
This well located and highly visible site comprises a refurbished, high clearance converted warehouse over 2 levels and a new purpose-built 3 level building on vacant land, completed in September 2010.
26 Abacus Property Group
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----- Start of picture text -----
Land area 4,504m [2]
Net lettable area 5,781m [2]
Valuation date September 2015
Valuation range
$0-5m $5-10m $10-15m $15-20m $20m+
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TINGALPA
248 NEW CLEVELAND ROAD, TINGALPA Located on the east side of New Cleveland Road, the property is a purpose built modern storage facility of 3 levels.
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----- Start of picture text -----
Land area 6,452 m [2]
Net lettable area 5,683m [2]
Valuation date April 2016
Valuation range
$0-5m $5-10m $10-15m $15-20m $20m+
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BEENLEIGH 29 LOGAN RIVER ROAD, BEENLEIGH
Located approximately 32km south east of the Brisbane CBD, the facility contains three purpose built self storage buildings.
Property Book 2016 27
STORAGE PROPERTIES — VIC
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Land area 15,950m [2]
Net lettable area 3,960m [2]
Valuation date June 2016
Valuation range
$0-5m $5-10m $10-15m $15-20m $20m+
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BALLARAT DELACOMBE
44-48 WALLIS STREET, DELACOMBE
Located 4km south-west of the Ballarat CBD, this facility comprises ten purpose-built single storey buildings, a warehouse/factory building and a modern two storey office/residence.
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Land area 8,797m [2]
Net lettable area 3,129m [2]
Valuation date June 2016
Valuation range
$0-5m $5-10m $10-15m $15-20m $20m+
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WODONGA
LOT 1403, VICTORIA CROSS PARADE, WODONGA
The property is located approximately 2.4km south west of the Wodonga town centre, and comprises a single level purpose built facility developed over 2 stages.
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----- Start of picture text -----
Land area 7,128m [2]
Net lettable area 3,308m [2]
Valuation date June 2016
Valuation range
$0-5m $5-10m $10-15m $15-20m $20m+
----- End of picture text -----
BALLARAT WENDOUREE
201A GILLIES STREET, WENDOUREE
Located 5km north-west of the Ballarat CBD, this modern facility comprises two purposebuilt storage buildings and an office/ amenities area.
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----- Start of picture text -----
Land area 6,647m [2]
Net lettable area 5,734m [2]
Valuation date June 2016
Valuation range
$0-5m $5-10m $10-15m $15-20m $20m+
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MELBOURNE GREENSBOROUGH 24 SHERBOURNE ROAD, GREENSBOROUGH
Located approximately 18km north-east of the Melbourne CBD, the purpose-built property is situated on a prominent elevated position on a main arterial road in the mixed industrial use and bulk good showroom precinct.
28 Abacus Property Group
STORAGE PROPERTIES — VIC CONTINUED
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----- Start of picture text -----
Land area 8,094m [2]
Net lettable area 11,314m [2]
Valuation date June 2016
Valuation range
$0-5m $5-10m $10-15m $15-20m $20m+
----- End of picture text -----
MELBOURNE BURWOOD
1 DUFFY STREET, BURWOOD
Located approximately 13km south-east of the Melbourne CBD, the island site comprises a converted multi-level building. Main access is via Duffy St with prominent signage, but the island site provides multiple access points to the facility and warehouse tenancies.
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Land area 11,672m [2]
Net lettable area 5,511m [2]
Valuation date June 2015
Valuation range
$0-5m $5-10m $10-15m $15-20m $20m+
----- End of picture text -----
MELBOURNE CRANBOURNE
198 SLADEN STREET, CRANBOURNE
Located 41km south-east of the Melbourne CBD, this purpose-built facility is close to several housing estates. Two new buildings were completed in July 2009 and provided an additional 1,300m² lettable area.
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----- Start of picture text -----
Land area 2,619m [2]
Net lettable area 3,858m [2]
Valuation date June 2016
Valuation range
$0-5m $5-10m $10-15m $15-20m $20m+
----- End of picture text -----
MELBOURNE BULLEEN 10-12 MANNINGHAM ROAD, WEST BULLEEN
Located in a residential suburb 11km northeast of the Melbourne CBD, this prominent two level storage facility is close to shopping centres and a railway station.
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Land area 7,455m [2]
Net lettable area 3,850m [2]
Valuation date June 2016
Valuation range
$0-5m $5-10m $10-15m $15-20m $20m+
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MELBOURNE FAIRFIELD
328 DAREBIN ROAD, FAIRFIELD
Located 8km north-east of the Melbourne CBD, this converted single storey warehouse occupies a prominent corner location.
Property Book 2016 29
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----- Start of picture text -----
Land area 8,095m [2]
Net lettable area 3,607m [2]
Valuation date June 2015
Valuation range
$0-5m $5-10m $10-15m $15-20m $20m+
----- End of picture text -----
MELBOURNE HOPPERS CROSSING 71-75 FORSYTH ROAD, HOPPERS CROSSING
Located 21km south-west of Melbourne in an established industrial precinct, this purpose-built facility comprises eight single storey storage buildings and a two level administration building.
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----- Start of picture text -----
Land area 9,809m [2]
Net lettable area 3,848m [2]
Valuation date June 2015
Valuation range
$0-5m $5-10m $10-15m $15-20m $20m+
----- End of picture text -----
MELBOURNE MELTON
9-19 RESERVE ROAD, MELTON
Located 35km north-west of the Melbourne CBD, this purpose-built facility is in an industrial area with good road access. A fourth building completed in January 2009 added a further 540m² of lettable area.
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----- Start of picture text -----
Land area 1,189m [2]
Net lettable area 2,173 m [2]
Valuation date June 2015
Valuation range
$0-5m $5-10m $10-15m $15-20m $20m+
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MELBOURNE RICHMOND 47 RICHMOND TERRACE, RICHMOND
Located in a popular inner Melbourne residential precinct with considerable high density development, this converted three storey facility is close to retail and commercial precincts and major roads.
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Land area 12,300m [2]
Net lettable area 4,173m [2]
Valuation date June 2016
Valuation range
$0-5m $5-10m $10-15m $15-20m $20m+
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MELBOURNE SUNBURY
2-10 ANDERSON ROAD, SUNBURY
Located in a semi-rural district 34km northwest of the Melbourne CBD, this facility comprises a converted industrial building and three purpose-built storage buildings.
30 Abacus Property Group
STORAGE PROPERTIES — VIC CONTINUED
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Land area 5,084m [2]
Net lettable area 3,946m [2]
Valuation date June 2015
Valuation range
$0-5m $5-10m $10-15m $15-20m $20m+
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MELBOURNE THOMASTOWN
98 NORTHGATE DRIVE, THOMASTOWN
Located in an established industrial precinct 15km north of the Melbourne CBD, this purpose-built facility comprises four modern two level buildings, an office and residence.
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Land area 3,832m [2]
Net lettable area 3,755m [2]
Valuation date December 2014
Valuation range
$0-5m $5-10m $10-15m $15-20m $20m+
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WEST HEIDELBERG 128 DOUGHARTY ROAD, HEIDELBERG WEST
Located 12km north east of the Melbourne CBD, the facility comprises a recently converted industrial building fitted out over 2 levels.
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Land area 6,400m [2]
Net lettable area 4,980m [2]
Valuation date June 2015
Valuation range
$0-5m $5-10m $10-15m $15-20m $20m+
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MELBOURNE MITCHAM 2 SIMLA STREET, MITCHAM
Located 20km east of the Melbourne CBD, this facility comprises a converted industrial warehouse and a purpose-built facility completed in 2007.
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Land area 6,782m [2]
Net lettable area 3,576m [2]
Valuation date February 2015
Valuation range
$0-5m $5-10m $10-15m $15-20m $20m+
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OAKLEIGH SOUTH 27 CLARINDA ROAD, OAKLEIGH SOUTH
Located approximately 18km south of the Melbourne CBD, the industrial property with high clearance warehouse is to be converted to a storage facility over 2 stages with stage 1 to commence trading in late 2016.
Property Book 2016 31
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Land area 15,470m [2]
Net lettable area 6,519m [2]
Valuation date August 2015
Valuation range
$0-5m $5-10m $10-15m $15-20m $20m+
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LANGWARRIN 381 MCCLELLAND DRIVE, LANGWARRIN
Located approximately 42km south east of the Melbourne CBD, this purpose built facility comprises multiple building predominately single level.
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Land area 9,919m [2]
Net lettable area 5,511 m [2]
Valuation date March 2016
Valuation range
$0-5m $5-10m $10-15m $15-20m $20m+
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DANDENONG SOUTH 418-424 SOUTH GIPPSLAND HIGHWAY, DANDENONG SOUTH
Located approximately 35km south east of the Melbourne CBD, the industrial property comprises a high clearance warehouse with potential to convert to self storage.
32 Abacus Property Group
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auckland remuera
207 merton road,
remuera nz
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Property Book 2016 33
MINORITY PROPERTIES
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Ownership interest 25%
Cap rate 6.75%
Valuation date June 2016
Acquisition date June 2011
Site area 600m [2]
Net lettable area 6,520m [2]
Occupancy 100%
WALE by income 3.5 years
Rent review
Fixed
structure
Toll Holdings, Kamrak,
Major tenants
Dynamic Web Training
by income
and Kelly Partners
Parking spaces 31
Valuation range
$0-20m $20-30m $30-40m $40-50m $50-60m
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Ownership interest 25%
Cap rate 8.00%
Valuation date December 2015
Acquisition date July 2012
Site area 1,567m [2]
Net lettable area 8,121m [2]
Occupancy 87%
WALE by income 3.5 years
Rent review
Fixed
structure
Major tenants
Dialog and Parmalat
by income
Parking spaces 62
Valuation range
$0-20m $20-30m $30-40m $40-50m $50-60m
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32 WALKER STREET NORTH SYDNEY, NSW
This modern A grade property is located in a prime position in the North Sydney office market opposite North Sydney train station and adjacent to Greenwood Plaza. The property boasts panoramic harbour and city views from all levels while delivering excellent natural light. The acquisition provides a strong risk adjusted counter-cyclical opportunity. This property has a 3.5 star NABERS rating.
35 BOUNDARY STREET SOUTH BRISBANE, QLD
South Brisbane and the surrounding area have been a traditional mix of uses from residential to industrial. Urban renewal initiative put in place by the Queensland Government and Brisbane City Council have transformed the area into a major corporate location for modern commercial accommodation amongst other uses. 35 Boundary Street, built in 2008 with a total NLA of 8,120sqm comprising of a ground floor café, 8 levels of office space some levels with balconies, on site car parking for 62 cars. This property has a 3.0 star NABERS rating.
34 Abacus Property Group
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Ownership interest 25%
Cap rate 7.00%
Valuation date June 2016
Acquisition date July 2012
Site area 723m [2]
Net lettable area 3,507m [2]
Occupancy 87%
WALE by income 3.1 years
Rent review
Fixed and CPI
structure
Major tenants Country Road and
by income National Australia Bank
Parking spaces –
Valuation range
$0-20m $20-30m $30-40m $40-50m $50-60m
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Ownership interest 18%
Cap rate 7.25%
Valuation date June 2016
Acquisition date October 2014
Site area 14,087m [2]
Net lettable area 49,911m [2]
Occupancy 99%
WALE by income 4.0 years
Rent review
Fixed and CPI
structure
Major tenants Victorian Police,
by income Thales and AiE
Parking spaces 310
Valuation range
$0-20m $20-30m $30-40m $40-50m $50-60m
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180 QUEEN STREET BRISBANE, QLD
The building is a heritage commercial building located in the heart of Brisbane’s prime CBD shopping strip, Queen Street Mall. The Mall is renowned as Queensland’s prime retail destination and is Australia’s highest grossing retail area. The Mall serves as Brisbane’s primary retail trade area and it attracts 26 million visitors annually.
WORLD TRADE CENTRE DOCKLANDS, MELBOURNE, VIC
A large commercial and retail building in the Docklands precinct in Melbourne’s CBD. The building is situated to the northern side of the Yarra River with a southerly aspect over the water. 3 large towers off a central podium with a c.50% of the building leased to the Victorian Police. The building has undergone an extensive program and has a 4.0 star NABERS rating. The property offers a range of retail and restaurant tenancies fronting the Yarra River.
Property Book 2016 35
MINORITY PROPERTIES CONTINUED
| Ownershipinterest 40% |
|
|---|---|
| Caprate 7.50% |
|
| Valuation date December 2015 |
|
| Acquisition date March 2015 |
|
| Site area 21,160m2 |
|
| Net lettable area 22,338m2 |
|
| Occupancy 76% |
|
| WALE byincome 2.8years |
|
| Rent review structure Fixed and CPI |
|
| Major tenants byincome Woolworths, BWS and Broadbeach Tavern |
|
| Parkingspaces 1,250 |
|
| Valuation range $0-20m $20-30m $30-40m $40-50m $50-60m |
OASIS SHOPPING CENTRE BROADBEACH, GOLD COAST, QLD
Oasis Shopping Centre is a well-positioned convenience based shopping centre located directly opposite the beach in the heart of Broadbeach on the Gold Coast. Broadbeach is well located within the Gold Coast metropolitan area, is 3km’s from Surfers Paradise and only 20km’s to Gold Coast International Airport.
The property is the main enclosed shopping centre in Broadbeach and is anchored by Woolworths Supermarket and a large ALH run tavern plus a range of mini-majors and over 110 specialty stores.
The centre has undergone multiple redevelopment and refurbishment programs since July 2015 and some projects are now completed. The centre has finished redeveloping its north west corner which has expanded the ground floor footprint, enhance the centre’s external facade and added a CBA tenancy and additional restaurants. The reconfiguration and refurbishment of the centre’s commercial office area on level 2 has provided over 2,160m[2] to Allianz call centre. Further projects will refurbish the existing restaurant precinct facing Broadbeach Mall and develop the level 3 area currently take up with the Monorail and track which should provide an additional 4,000m[2] of NLA.
36 Abacus Property Group
SMALL PROPERTIES, INVENTORY AND OTHER ASSETS NSW | QLD | VIC | TAS | ACT
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NET LETTABLE ARE BOOK VALUE
PROPERTY STATE
(m [2] ) ($ MILLION)
Ocean Drive, Mudjimba, Sunshine Coast QLD N/A –
Italian Forum Car Park, 23 Norton Street, Sydney NSW N/A –
Wodonga (land) VIC N/A –
Emily Dobson House, 99 Bathurst Street, Hobart TAS 7,227 –
79 Melville Street, Hobart TAS 8,008 –
29 Queen Street, North Bundaberg QLD 4,047 –
12 Docker Street, Wangaratta VIC 3,080 –
CSIRO, Limestone Avenue, Campbell ACT N/A –
TOTAL 59
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Property Book 2016 37
Abacus Property Group Level 34 Australia Square 264-278 George Street Sydney NSW 2000 T +61 2 9253 8600 F +61 2 9253 8616 E [email protected] www.abacusproperty.com.au