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ABACUS GROUP — Annual Report 2017
Nov 2, 2017
64280_rns_2017-11-02_d482b028-9888-4474-bb69-7efbe09f7295.pdf
Annual Report
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A b a c u s P r o p e r t y G r o u p PROPERTY BOOK 2017
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Contents
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02 Investment portfolio
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04 Principal portfolio
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18 Self-storage portfolio
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19 Self-storage properties — ACT
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21 Self-storage properties — NSW
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25 Self-storage properties — NZ
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28 Self-storage properties — QLD
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32 Self-storage properties — VIC
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37 Minority properties
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41 Small properties, inventory, loans and other assets
FC IMAGE: The Eminence, Melbourne VIC
IMAGE: Ivy and Eve, South Brisbane QLD
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Investment port folio
IMAGE: 710 Collins Street Melbourne VIC
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Abacus Property Group is a diversified listed A-REIT included in the S&P/ASX 200 Index (ASX:ABP)
As at 30 June 2017, Abacus Property Group had $1,831 million in total property assets on balance sheet. This total comprises the principal investment portfolio and the self-storage 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 | ||
|---|---|---|
| CONTENT | SECTOR | $ MILLION |
| Principal investment portfolio | Diversifed | 1,005 |
| Self-storage investment portfolio | Storage | 629 |
| Minority assets | Diversifed | 62 |
| Small properties, inventory, loans and other assets |
Diversifed | 135 |
| TOTAL | 1,831 |
The principal investment property portfolio comprises assets owned 50% or more by Abacus
| PROPERTY | STATE | SECTOR | BOOK VALUE $ MILLION | BOOK VALUE $ MILLION |
|---|---|---|---|---|
| Ashfeld Mall, Ashfeld | 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 | 382 | |||
| 710 Collin Street, Docklands | VIC | Offce | ||
| Westpac House, Adelaide | SA | Offce | ||
| 201 Pacifc Highway, St Leonards | NSW | Offce | ||
| 51 Allara Street, Canberra | ACT | Offce | ||
| 14 Martin Place, Sydney | NSW | Offce | ||
| 324 Queen Street, Brisbane | QLD | Offce | ||
| Virginia Park, Bentleigh East | VIC | Offce | ||
| 33 Queen Street, Brisbane | QLD | Offce | ||
| 444 Queen Street, Brisbane | QLD | Offce | ||
| VarsityLakes properties, Gold Coast | QLD | Offce | ||
| TOTAL OFFICE | 568 | |||
| 1769 Hume Highway, Campbellfeld | VIC | Industrial | ||
| 95 Mina Parade, Alderley | QLD | Industrial | ||
| 169 Australis Drive, Derrimut | VIC | Industrial | ||
| Pinkenbaproperties, Pinkenba | QLD | Industrial | ||
| TOTAL INDUSTRIAL 55 | ||||
| 1,005 |
A B A C U S P R O P E R T Y G R O U P | P R O P E R T Y B O O K 2 0 1 7
Principal port folio
IMAGE: 33 Queen Street Brisbane QLD
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NSW | RETAIL Ownership interest 100%
Cap rate 5.75%
Valuation date April 2016
Acquisition date September 1997
Site area 21,890m [2]
Net lettable area 24,853m [2]
Occupancy 98%
WALE by income 5.2 years
Rent review structure CPI and Fixed
Major tenants
Woolworths, Coles, Kmart and ALDI
by income
Parking spaces 1,074
Valuation range
$110-120m $120-130m $130-140m $140-150m $150m+
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NSW | RETAIL Ownership interest 100%
Cap rate 6.25%
Valuation date June 2017
Acquisition date August 2004
Site area 8,904m [2]
Net lettable area 7,921m [2]
Occupancy 64%
WALE by income 3.7 years
Rent review structure CPI and Fixed
Major tenants
ALDI, ANZ, St George and IMB
by income
Parking spaces 300
Valuation range
$40-50m $50-60m $60-70m $70-80m $80-90m
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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 $201 million since acquisition.
Our strategy remains to position Ashfield Mall as the quality food and convenience offer for the Sydney inner west suburbs. The upgrade works to the centre’s frontage, signage and forecourt have completed and both two forecourt tenancies are leased out. This has positively enhanced 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.
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 southwest 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 in 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 the refurbishment program, to deliver an interesting retail offer including dining and fast food in addition to its current supermarket and fresh food offer.
A B A C U S P R O P E R T Y G R O U P | P R O P E R T Y B O O K 2 0 1 7
PRINCIPAL PORTFOLIO
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Ownership interest 100%
Cap rate 6.50%
Valuation date December 2015
Acquisition date July 2013
Site area 42,550m [2]
Net lettable area 16,148m [2]
Occupancy 88%
WALE by income 7.5 years
Rent review structure CPI and Fixed
Major tenants
Coles, ALDI and Target Country
by income
Parking spaces 680
Valuation range
$50-60m $60-70m $70-80m $80-90m $90-100m
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VIC | RETAIL
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Bacchus Marsh Village Shopping Centre 176 Main Street, Bacchus Marsh, VIC
Bacchus Marsh Village Shopping Centre is a subregional 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. The centre has recently experienced strong leasing activity with a number of new and renewed leasing deals which bodes well for our ongoing leasing activities.
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QLD | RETAIL Ownership interest 75%
Cap rate 7.25%
Valuation date July 2015
Acquisition date October 2015
Site area 21,946m [2]
Net lettable area 18,883m [2]
Occupancy 75%
WALE by income 4.5 years
Rent review structure CPI and Fixed
Major tenants
Coles and ALDI
by income
Parking spaces 823
Valuation range
$50-60m $60-70m $70-80m $80-90m $90-100m
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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. At the time of acquisition, the centre’s trading area was 18,883sqm in total with 12,103sqm of gross lettable area (GLA) anchored by Coles and ALDI supermarkets, two mini majors and approx. 5,659sqm of specialty GLA. Lutwyche City also has 6,441sqm of office space and an adjacent freestanding 384sqm childcare facility.
The centre is undergoing a major strategic refurbishment to cement the centre as the dominant food and convenience centre in its primary trade area. The development application for the centre was approved in June 2017 with early works commencing in April 2017. The main refurbishment works commenced in October 2017.
Abacus acquired the remaining 25% from its investment partner in July 2017 to take 100% ownership of the property.
A B A C U S P R O P E R T Y G R O U P | P R O P E R T Y B O O K 2 0 1 7
PRINCIPAL PORTFOLIO
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VIC | OFFICE Ownership interest 100%
Cap rate 5.50%
Valuation date December 2016
Acquisition date December 2014
Site area 7,795m [2]
Net lettable area 11,236m [2]
Occupancy 98%
WALE by income 6.9 years
Rent review structure CPI and Fixed
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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SA | OFFICE
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Ownership interest 50%
Cap rate 7.25%
Valuation date June 2017
Acquisition date March 2017
Site area 4,287m [2]
Net lettable area 31,770m [2]
Occupancy 87%
WALE by income 2.9 years
Rent review structure CPI and Fixed
Major tenants Westpac, HWL Ebsworth and
by income SA Government
Parking spaces 54
Valuation range
$50-60m $60-70m $70-80m $80-90m $90-100m
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710 Collins Street, Docklands, Melbourne, VIC
The property occupies a rectangular block of c.7,800sqm 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.
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. This building holds a 4.0 star NABERS rating.
The property continues to show promising repositioning and leasing opportunities to further grow revenue.
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Ownership interest 50%
Cap rate 7.00%
Valuation date June 2017
Acquisition date August 2015
Site area 4,718m [2]
Net lettable area 16,499m [2]
Occupancy 74%
WALE by income 2.7 years
Rent review structure CPI and Fixed
Major tenants Cisco Systems, Coles, NAB and
by income Primary Health Care
Parking spaces 262
Valuation range
$50-60m $60-70m $70-80m $80-90m $90-100m
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NSW | OFFICE
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ACT | OFFICE
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Ownership interest 100%
Cap rate 7.75%
Valuation date December 2016
Acquisition date January 2008
Site area 3,973m [2]
Net lettable area 13,255m [2]
Occupancy 67%
WALE by income 4 years
Rent review structure Fixed
Major tenants
Dept of Environment
by income
Parking spaces 163
Valuation range
$50-60m $60-70m $70-80m $80-90m $90-100m
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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 13,841sqm of office, 2,658sqm 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.
Since 30 June 2017 all of the vacant office space has heads of agreement for lease and building will be 100% occupied.
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 upgrade and now achieves a 4.5 star NABERS rating. Additional refurbishment of office areas not previously refurbished will be completed by 31st October 2017.
A B A C U S P R O P E R T Y G R O U P | P R O P E R T Y B O O K 2 0 1 7
PRINCIPAL PORTFOLIO
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NSW | OFFICE Ownership interest 50%
Cap rate 5.75%
Valuation date December 2016
Acquisition date June 2011
Site area 1,103m [2]
Net lettable area 13,106m [2]
Occupancy 90%
WALE by income 3.3 years
Rent review structure CPI and Fixed
Major tenants International Bank, IRESS and Long
by income Chim restaurant
–
Parking spaces
Valuation range
$50-60m $60-70m $70-80m $80-90m $90-100m
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QLD | OFFICE Ownership interest 50%
Cap rate 7.25%
Valuation date September 2016
Acquisition date December 2016
Site area 1,821m [2]
Net lettable area 19,864m [2]
Occupancy 80%
WALE by income 3.1 years
Rent review structure Fixed
Major tenants Allianz, ANZ, Brookfield Multiplex
by income
Parking spaces 91
Valuation range
$50-60m $60-70m $70-80m $80-90m $90-100m
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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 1,111sqm of ground and lower ground floor retail. This building has a 3.5 star NABERS rating.
Recent completion of ground floor retail development has subsequently increased occupancy to 95%.
324 Queen Street Brisbane, QLD
The building, located on a prominent corner of Queen Street and Creek Street Brisbane, was constructed in 1975 and refurbished in 2001. The property comprises a basement car park with 91 spaces, 5 retail units on ground level, 3 podium levels and 20 upper levels of office accommodation.
The vacant floors are being progressively refurbished and subdivided into smaller suites to widen the target market.
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VIC | OFFICE Ownership interest 50%
Cap rate 7.00%
Valuation date September 2016
Acquisition date April 2006
Site area 123,460m [2]
Net lettable area 56,782m [2]
Occupancy 71%
WALE by income 3.2 years
Rent review structure CPI and Fixed
Major tenants Xtralis, Vision Systems and
by income Officeworks
Parking spaces 1,680
Valuation range
$50-60m $60-70m $70-80m $80-90m $90-100m
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QLD | OFFICE Ownership interest 100%
Cap rate 7.50%
Valuation date June 2017
Acquisition date May 2013
Site area 1,158m [2]
Net lettable area 6,023m [2]
Occupancy 62%
WALE by income 6.6 years
Rent review structure CPI and Fixed
Major tenants Members Equity and First
by income Commercial Bank of Taiwan
Parking spaces 16
Valuation range
$10-20m $20-30m $30-40m $40-50m $50-60m
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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.
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 3,313sqm, including 1,290sqm of retail space and 2,023sqm leased to a number of smaller tenants. 199 George Street is a near new 2,769sqm 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.
A B A C U S P R O P E R T Y G R O U P | P R O P E R T Y B O O K 2 0 1 7
PRINCIPAL PORTFOLIO
|QLD | OFFICE|Ownership interest
Cap rate
Valuation date
Acquisition date
Site area
Net lettable area
Occupancy
WALE by income
Rent review structure
Major tenants
by income
Parking spaces|Ownership interest
Cap rate
Valuation date
Acquisition date
Site area
Net lettable area
Occupancy
WALE by income
Rent review structure
Major tenants
by income
Parking spaces|67%
9.00%
August 2016
September 2016
1,708m2
14,155m2
32%
1.7 years
–
–
71||
|---|---|---|---|---|
||Valuation range||||
|||$0-10m
$10-30m|$30-40m
$40-50m
$50-60m||
444 Queen Street Brisbane, QLD
444 Queen Street is a ‘B Grade’ building constructed circa 1975. Periodically upgrade throughout its history with the most recent occurring 2008. It sits alongside one of the newest, Premium grade office buildings completed in the Brisbane ‘Golden Triangle’ 480 Queen Street. The location has commanding views over Brisbane River.
It incorporates 2 levels of car parking, a basement level, retail on the ground floor and a 19 story office tower of which Abacus owns 2/3rds.
A modernisation program for the building is being currently developed with the co-owners.
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QLD | OFFICE RP1 BUILDING
CNR MAIN STREET AND BELLVUE DRIVE
Ownership interest 100%
Cap rate 8.00%
Valuation date June 2017
Acquisition date September 2007
Site area 8,670m [2]
Net lettable area 3,768m [2]
Occupancy 85%
WALE by income 1.7 years
Rent review structure –
Major tenants
Arcadia College
by income
Parking spaces 96
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QLD | OFFICE
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AAPT BUILDING
169 VARSITY PARADE
Ownership interest 100%
Cap rate 8.25%
Valuation date December 2016
Acquisition date September 2007
Site area 13,000m [2]
Net lettable area 3,356m [2]
Occupancy 100%
WALE by income 1.5 years
Rent review structure Fixed
Major tenants National Broadband Network and
by income Bank of Queensland
Parking spaces 174
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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. 169 Varsity Parade has a 4.0 star NABERS rating.
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Valuation range
$0-30m $10-30m $30-40m $40-50m $50-60m
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A B A C U S P R O P E R T Y G R O U P | P R O P E R T Y B O O K 2 0 1 7
PRINCIPAL PORTFOLIO
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VIC | INDUSTRIAL Ownership interest 100%
Cap rate 10.50%
Valuation date December 2016
Acquisition date November 2007
Site area 66,240m [2]
Net lettable area 26,946m [2]
Occupancy 100%
WALE by income 4.0 years
Rent review structure CPI
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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QLD | INDUSTRIAL
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Ownership interest 100%
Cap rate 8.00%
Valuation date June 2016
Acquisition date September 2007
Site area 10,310m [2]
Net lettable area 5,844m [2]
Occupancy 100%
WALE by income 0.9 years
Rent review structure Fixed annual 4%
Major tenants Insitu Pacific Pty Ltd
by income
Parking spaces 142
Valuation range
$0-10m $20-30m $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 214 metre frontage to the Hume Highway, two entrances and an internal roadway to facilitate drive through truck movements.
95 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.
IMAGE: Oakleigh South self-storage facility VIC
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A B A C U S P R O P E R T Y G R O U P | P R O P E R T Y B O O K 2 0 1 7
PRINCIPAL PORTFOLIO
|VIC | INDUSTRIAL|Ownership interest
Cap rate
Valuation date
Acquisition date
Site area
Net lettable area
Occupancy
WALE by income
Rent review structure
Major tenants
by income
Parking spaces|Ownership interest
Cap rate
Valuation date
Acquisition date
Site area
Net lettable area
Occupancy
WALE by income
Rent review structure
Major tenants
by income
Parking spaces|100%
7.50%
December 2015
October 2013
56,330m2
30,994m2
100%
0.3 years
Fixed
Susskind and Danziger Pty Ltd,
Hitachi Transport Systems and
United Wholesalers
220||
|---|---|---|---|---|
||Valuation range||||
|||$0-10m
$10-30m|$30-40m
$40-50m
$50-60m||
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.
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VIC | INDUSTRIAL 26 SAVAGE STREET
PINKENBA
Ownership interest 100%
Cap rate N/A
Valuation date June 2016
Acquisition date January 2004
Site area 23,490m [2]
Net lettable area 5,859m [2]
Occupancy 100%
WALE by income 2.1 years
Rent review structure Every 3 years
Major tenants
Hi-Fert Pty Ltd
by income
Parking spaces 18
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Pinkenba Properties 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 is now currently vacant and we are considering all development and re-leasing options.
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Valuation range
$0-10m $10-30m $30-40m $40-50m $50-60m
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|VIC | INDUSTRIAL|681 CURTIN AVENUE|681 CURTIN AVENUE|
|---|---|---|
||PINKENBA||
||Ownership interest
Cap rate
Valuation date
Acquisition date
Site area
Net lettable area
Occupancy
WALE by income
Rent review structure
Major tenants
by income
Parking spaces|100%
N/A
June 2016
January 2004
19,410m2
4,745m2
100%
0.0 years
Fixed annual 3.5%
Saint-Gobain Ceramic Materials
40|
A B A C U S P R O P E R T Y G R O U P | P R O P E R T Y B O O K 2 0 1 7
Self-storage port folio
IMAGE: St Peters self-storage facility NSW
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SELF-STORAGE PROPERTIES — ACT
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Land area 17,787m [2]
Net lettable area 8,305m [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 self-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 21,889m [2]
Net lettable area 10,251m [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 self-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 self-storage buildings developed in 2012.
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Land area 27,218m [2]
Net lettable area 10,498m [2]
Valuation date June 2016
Valuation range
$0-5m $5-10m $10-15m $15-20m $20m+
$0-5m $5-10m $10-15m $15-20m $20m+
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Canberra Belconnen
86 Nettleford Street, Belconnen
This purpose-built self-storage facility currently comprising both single and double level storage buildings. Adjoining the self-storage component is a small commercial property.
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Land area 7,728m [2]
Net lettable area 6,165m [2]
Valuation date September 2016
Valuation range
$0-5m $5-10m $10-15m $15-20m $20m+
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Canberra Hume
12 Sleigh Place, Hume
The property is located in the suburb of Hume, approximately 12.8km south-east of the Canberra CBD. There are three self-storage buildings over the site comprising a converted warehouse building over 2 levels, plus two purpose built building with a gross building area of approx. 9,000sqm.
A B A C U S P R O P E R T Y G R O U P | P R O P E R T Y B O O K 2 0 1 7
SELF-STORAGE PROPERTIES — ACT
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Land area 4,543m [2]
Net lettable area 2,329m [2]
Valuation date September 2016
Valuation range
$0-5m $5-10m $10-15m $15-20m $20m+
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Canberra Hume (Commercial) 10 Sleigh Place, Hume
The property is situated at the rear of Sleigh Place in the suburb of Hume, approximately 12.8km south-east of the Canberra CBD and provides future expansion potential to Canberra Hume.
2 0 — 2 1
SELF-STORAGE PROPERTIES — NSW
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Land area 16,776m [2]
Net lettable area 10,363m [2]
Valuation date June 2017
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 provides a mix of self-storage and warehouse space. The warehouse space will be converted to selfstorage when demand warrants full conversion.
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----- Start of picture text -----
Land area –
Net lettable area 5,249m [2]
Valuation date December 2016
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 self-storage facility with high level of amenity and exposure.
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Land area 21,150m [2]
Net lettable area 6,729m [2]
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 self-storage and that opened in late 2015.
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----- Start of picture text -----
Land area –
Net lettable area 10,820m [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.
A B A C U S P R O P E R T Y G R O U P | P R O P E R T Y B O O K 2 0 1 7
SELF-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 expansion opportunities.
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----- Start of picture text -----
Land area 1,846m [2]
Net lettable area 2,278m [2]
Valuation date June 2016
Valuation range
$0-5m $5-10m $10-15m $15-20m $20m+
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Sydney St Peters 580-590 Princes Highway, St Peters
Located approximately 7km south of the Sydney CBD, the facility opened in 2015 and comprises an industrial building fitted out for self-storage over 3 levels.
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Land area 4,199m [2]
Net lettable area 3,513m [2]
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. This industrial warehouse was converted into self-storage in early 2015.
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Land area 1,701m [2]
Net lettable area 3,219m [2]
Valuation date June 2017
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.
2 2 — 2 3
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Land area 841m [2]
Net lettable area 1,777m [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, Sydney 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.
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----- Start of picture text -----
Land area –
Net lettable area 3,740m [2]
Valuation date December 2016
Valuation range
$0-5m $5-10m $10-15m $15-20m $20m+
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Sydney Castle Hill 5 Gladstone Road, Castle Hill
Located approximately 25km north-west of the Sydney CBD, the facility is part of a strata complex with the facility opening in mid 2014.
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Land area 9,225m [2]
Net lettable area 3,850m [2]
Valuation date June 2017
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 self-storage buildings and an adapted former timber mill building with surplus land for future expansion.
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Land area 4,909m [2]
Net lettable area 4,505m [2]
Valuation date July 2015
Valuation range
$0-5m $5-10m $10-15m $15-20m $20m+
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Sydney 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.
A B A C U S P R O P E R T Y G R O U P | P R O P E R T Y B O O K 2 0 1 7
SELF-STORAGE PROPERTIES — NSW
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Land area 4,344m [2]
Net lettable area 2,952m [2]
Valuation date October 2015
Valuation range
$0-5m $5-10m $10-15m $15-20m $20m+
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Sydney 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.
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Land area 8,189m [2]
Net lettable area 2,320m [2]
Valuation date November 2016
Valuation range
$0-5m $5-10m $10-15m $15-20m $20m+
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Sydney Frenchs Forest 11-13 Rodborough Road, Frenchs Forest
The property is located in inner city suburb of northern Sydney, 13km from the Sydney CBD. The property comprises an older style three level commercial facility acquired for conversion into a self-storage facility. The site provides surplus land for future expansion options.
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Land area 2,808m [2]
Net lettable area 1,521m [2]
Valuation date November 2016
Valuation range
$0-5m $5-10m $10-15m $15-20m $20m+
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Sydney Ingleburn 40 York Road, Ingleburn
The property is a refurbished warehouse plus single level drive up/ranch style self-storage facility located approximately 35km south-west of the Sydney CBD.
2 4 — 2 5
SELF-STORAGE PROPERTIES — NZ
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----- Start of picture text -----
Land area 5,725m [2]
Net lettable area 3,000m [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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Land area 10,418m [2]
Net lettable area 5,033m [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 self-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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Land area 12,971m [2]
Net lettable area 7,206m [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 purposebuilt facility with good access to the main motorway system.
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----- Start of picture text -----
Land area 10,176m [2]
Net lettable area 5,431m [2]
Valuation date June 2017
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.
A B A C U S P R O P E R T Y G R O U P | P R O P E R T Y B O O K 2 0 1 7
SELF-STORAGE PROPERTIES — NZ
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Land area 6,177m [2]
Net lettable area 3,550m [2]
Valuation date June 2017
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 self-storage buildings and an office. It is close to a number of strongly growing residential areas in Auckland.
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Land area 13,077m [2]
Net lettable area 5,668m [2]
Valuation date June 2017
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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Land area 6,577m [2]
Net lettable area 5,402m [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 high-density residential suburbs.
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Land area 10,120m [2]
Net lettable area 5,750m [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 self-storage buildings, a converted warehouse building and a two level office block.
2 6 — 2 7
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----- Start of picture text -----
Land area 1,130m [2]
Net lettable area 6,199m [2]
Valuation date February 2016
Valuation range
$0-5m $5-10m $10-15m $15-20m $20m+
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Auckland 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.
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Land area 10,100m [2]
Net lettable area 4,627m [2]
Valuation date June 2017
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 self-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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Land area 9,457m [2]
Net lettable area 3,689m [2]
Valuation date June 2017
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 self-storage buildings and an office building.
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Land area 9,011m [2]
Net lettable area 5,165m [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.
A B A C U S P R O P E R T Y G R O U P | P R O P E R T Y B O O K 2 0 1 7
SELF-STORAGE PROPERTIES — QLD
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----- Start of picture text -----
Land area 4,318m [2]
Net lettable area 2,439m [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 selfstorage facility occupying a visible corner site in a central location. The facility is purpose-built and comprises 5 buildings.
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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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Land area 7,450m [2]
Net lettable area 3,499m [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 expansion.
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Land area 3,000m [2]
Net lettable area 3,094m [2]
Valuation date June 2017
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 3,485m [2]
Net lettable area 3,094m [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 self-storage.
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Land area 11,393m [2]
Net lettable area 7,271m [2]
Valuation date June 2017
Valuation range
$0-5m $5-10m $10-15m $15-20m $20m+
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Brisbane Cleveland 4 and 5 Grant Street, Cleveland
Located 23km south-east of the Brisbane CBD in a retail precinct, these facilities include a purpose-built multilevel self-storage building, office accommodation and parking.
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Land area 7,720m [2]
Net lettable area 5,005m [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 and 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.
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Land area 10,040m [2]
Net lettable area 6,310m [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 purposebuilt facility has surplus land with future expansion potential.
A B A C U S P R O P E R T Y G R O U P | P R O P E R T Y B O O K 2 0 1 7
SELF-STORAGE PROPERTIES — QLD
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----- Start of picture text -----
Land area 4,504m [2]
Net lettable area 5,774m [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 self-storage facility of 3 levels.
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Land area 6,000m [2]
Net lettable area 3,260m [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 southeast corner of the Townsville suburban area.
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----- Start of picture text -----
Land area 6,452m [2]
Net lettable area 5,641m [2]
Valuation date April 2016
Valuation range
$0-5m $5-10m $10-15m $15-20m $20m+
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Brisbane Beenleigh 29 Logan River Road, Beenleigh
Located approximately 32km south-east of the Brisbane CBD, the facility contains three purpose built self-storage buildings.
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Land area 11,270m [2]
Net lettable area 4,596m [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.
3 0 —3 1
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----- Start of picture text -----
Land area 6,285m [2]
Net lettable area 4,741m [2]
Valuation date June 2016
Valuation range
$0-5m $5-10m $10-15m $15-20m $20m+
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Brisbane Kingston 475 Kingston Road, Kingston
The property is a purpose-built self-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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Land area 3,264m [2]
Net lettable area 3,276m [2]
Valuation date June 2017
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.
A B A C U S P R O P E R T Y G R O U P | P R O P E R T Y B O O K 2 0 1 7
SELF-STORAGE PROPERTIES — VIC
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----- Start of picture text -----
Land area 15,950m [2]
Net lettable area 3,961m [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 building.
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Land area 6,782m [2]
Net lettable area 3,564m [2]
Valuation date December 2016
Valuation range
$0-5m $5-10m $10-15m $15-20m $20m+
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Melbourne Oakleigh South 27 Clarinda Road, Oakleigh South
Located approximately 18km south of the Melbourne CBD, the industrial property with high clearance warehouse has been converted to a self-storage facility over 2 stages with stage 2 to be delivered in late 2018.
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----- Start of picture text -----
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 9,919m [2]
Net lettable area 2,488m [2]
Valuation date March 2016
Valuation range
$0-5m $5-10m $10-15m $15-20m $20m+
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Melbourne 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.
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Land area 6,647m [2]
Net lettable area 5,662m [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.
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Land area 6,400m [2]
Net lettable area 4,999m [2]
Valuation date June 2017
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 11,672m [2]
Net lettable area 5,509m [2]
Valuation date June 2017
Valuation range
$0-5m $5-10m $10-15m $15-20m $20m+
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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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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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Melbourne Langwarrin 381 McClelland Drive, Langwarrin
Located approximately 42km south-east of the Melbourne CBD, this purpose built facility comprises multiple building predominately single level.
A B A C U S P R O P E R T Y G R O U P | P R O P E R T Y B O O K 2 0 1 7
SELF-STORAGE PROPERTIES — VIC
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Land area 8,094m [2]
Net lettable area 9,830m [2]
Valuation date June 2016
Valuation range
$0-5m $5-10m $10-15m $15-20m $20m+
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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 2,619m [2]
Net lettable area 3,859m [2]
Valuation date June 2016
Valuation range
$0-5m $5-10m $10-15m $15-20m $20m+
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Melbourne Bulleen 10-12 Manningham Road, West Bulleen
Located in a residential suburb 11km north-east of the Melbourne CBD, this prominent two level self-storage facility is close to shopping centres and a railway station.
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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+
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Ballarat Wendouree 201A Gillies Street, Wendouree
Located 5km north-west of the Ballarat CBD, this modern facility comprises two purpose-built self-storage buildings and an office/amenities area.
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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.
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Land area 8,095m [2]
Net lettable area 3,553m [2]
Valuation date June 2017
Valuation range
$0-5m $5-10m $10-15m $15-20m $20m+
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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 self-storage buildings and a two level administration building.
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Land area 9,809m [2]
Net lettable area 3,866m [2]
Valuation date June 2017
Valuation range
$0-5m $5-10m $10-15m $15-20m $20m+
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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 540sqm of lettable area.
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Land area 1,189m [2]
Net lettable area 2,172m [2]
Valuation date June 2017
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 4,191m [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 north-west of the Melbourne CBD, this facility comprises a converted industrial building and three purposebuilt self-storage buildings.
A B A C U S P R O P E R T Y G R O U P | P R O P E R T Y B O O K 2 0 1 7
SELF-STORAGE PROPERTIES — VIC
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Land area 5,084m [2]
Net lettable area 3,947m [2]
Valuation date June 2017
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 purposebuilt facility comprises four modern two level buildings and an office building.
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Land area 3,832m [2]
Net lettable area 3,800m [2]
Valuation date December 2016
Valuation range
$0-5m $5-10m $10-15m $15-20m $20m+
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Melbourne 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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Minority properties
IMAGE: Joe the Juice retailer, 14 Martin Place, Sydney NSW
A B A C U S P R O P E R T Y G R O U P | P R O P E R T Y B O O K 2 0 1 7
MINORITY PROPERTIES
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Ownership interest 25%
Cap rate 6.50%
Valuation date June 2016
Acquisition date June 2011
Site area 601m [2]
Net lettable area 6,520m [2]
Occupancy 100%
WALE by income 2.6 years
Rent review structure Fixed
Major tenants Toll Holdings, Kamrak, Dynamic Web
by income Training 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 7.00%
Valuation date June 2016
Acquisition date July 2012
Site area 723m [2]
Net lettable area 3,529m [2]
Occupancy 87%
WALE by income 2.5 years
Rent review structure Fixed and CPI
Major tenants Country Road and
by income National Australia Bank
Parking spaces 0
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 building is fully occupied with many of the existing tenants renewing their lease ahead of expiry. This property has a 3.5 star NABERS rating.
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.
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| Ownership interest | 40% | |
|---|---|---|
| Cap rate | 7.25%% | |
| Valuation date | March 2017 | |
| Acquisition date | March 2015 | |
| Site area | 21,160m2 | |
| Net lettable area | 22,839m2 | |
| Occupancy | 89% | |
| WALE by income | 3.9 years | |
| Rent review structure | Fixed and CPI | |
| Major tenants by income |
Woolworths, BWS, Broadbeach Tavern |
|
| Parking spaces | 998 | |
| 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 from Surfers Paradise and only 20km 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 refurbishment programs since July 2015 and some projects are now completed. The centre has finished projects in 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 2,160sqm for an Allianz call centre. The projects for refurbishing the existing restaurant precinct facing Broadbeach Mall are completed and all of restaurant tenancies are leased up. The removal of Monorail track and bridging has also been completed which potentially provides an additional 4,000sqm of NLA. The asset strategy provides further projects including the refurbishing and renewal of existing tenancies on levels 1 and 2 in line with a new mini major - Cotton On, which is due to commence in November 2017.
A B A C U S P R O P E R T Y G R O U P | P R O P E R T Y B O O K 2 0 1 7
MINORITY PROPERTIES
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Ownership interest 10%
Cap rate 7.75%
Valuation date February 2017
Acquisition date September 2016
Site area 83,020m [2]
Net lettable area 44,406m [2]
Occupancy 100%
WALE by income 0.3 years
Rent review structure N/A
Major tenants
Fonterra
by income
Parking spaces 46
Valuation range
$0-20m $20-30m $30-40m $40-50m $50-60m
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Ownership interest 10%
Cap rate 7.25%
Valuation date November 2016
Acquisition date December 2016
Site area 47,290m [2]
Net lettable area 18,114m [2]
Occupancy 0%
WALE by income 0 years
Rent review structure N/A
Major tenants
Vacant
by income
Parking spaces 358
Valuation range
$0-20m $20-30m $30-40m $40-50m $50-60m
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182-198 Maidstone Street Altona, VIC
Modern office and warehouse facility, built in 1993 and located 15km west of Melbourne CBD. Leased to Fonterra dairy until 30 September 2017 but recently extended to 30 November 2017. The property comprises 25,949sqm of industrial space that can be readily subdivided for multiple tenants plus a 8,900sqm cold storage area.
2-34 Davidson Street Chullora, NSW
Office and warehouse built in 1999 for Dick Smith electronics head office, located 18km west of Sydney CBD. The property comprises 10,169sqm of modern warehouse and 7,945sqm of office with significant surplus for future expansion. At 30 June 2017 the property was vacant but heads of agreement have been reached with a tenant to occupy all the warehouse space for a 5 year term.
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Small properties, inventory, loans and other assets
NSW | QLD | VIC | TAS
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NET LETTABLE AREA BOOK VALUE
PROPERTY STATE
(M [2] ) ($ 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 7,152 –
79 Melville Street, Hobart TAS 6,365 –
27 Grant Street, Port Macquarie NSW 3,702 –
Building A, 5-6 Grevillea Street, Brisbane Airport QLD 1,492 –
12 Short Street, Southport QLD 2,889 –
Various small loans on investment properties – N/A –
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135
TOTAL
A B A C U S P R O P E R T Y G R O U P | P R O P E R T Y B O O K 2 0 1 7
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