CENTURIA OFFICE REIT — Annual Report 2016

Aug 8, 2016

Centuria Metropolitan REIT

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203 PACIFIC HIGHWAY, ST LEONARDS NSW
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FY16 Property Compendium

ASX:CMA

Overview

Key Portfolio Metrics

Top 10 Tenants (by gross income)

Key Portfolio Metrics
Metric	Total
Assets		13
Book Value		$398.7m
Capitalisation rate		7.86%
Net Lettable Area		112,653
Occupancy (by area)		97.2%
WALE (by area)		4.4

Rank		Tenant		% of total income
1		Austar Entertainment Pty Limited		10.3%
2		Bluescope Steel Limited		9.1%
3		Minister for Infrastructure		6.2%
4		Cochlear Ltd		5.9%
5		Minister for Transport &		4.8%
		Infrastructure
6		CSC Australia		4.8%
7		Royal District NursingService		3.9%
8		Primary Health Care		3.2%
9		Cardno		3.2%
10		Verizon Australia Pty Ltd		2.8%

Portfolio Overview

Portfolio Overview
Property		State	Book		Independent		NLA		$ / Sqm		Cap		WALE1		Occupancy1
			Value		Valuation		(sqm)				rate		(years)
			($m)		($m)
Offce
9 Help Street, Chatswood		NSW	55.1		55.0		9,400		5,862		7.25%		2.3		96.2%
203 Pacifc Highway, St Leonards2		NSW	45.5		45.5		11,737		7,754		7.50%		4.4		100.0%
44 Hampden Road, Artarmon		NSW	8.5		8.5		2,306		3,685		8.50%		2.2		100.0%
3 Carlingford Road, Epping		NSW	27.0		27.0		4,702		5,743		6.25%		2.4		96.8%
54 Marcus Clarke, Canberra		ACT	16.9		16.3		5,155		3,284		9.25%		2.6		85.8%
60 Marcus Clarke, Canberra		ACT	52.8		51.7		12,120		4,356		8.25%		3.4		91.3%
35 Robina Town Centre Drive, Robina		QLD	48.8		48.8		9,814		4,972		7.50%		7.3		100.0%
555 Coronation Drive, Brisbane		QLD	33.1		33.1		5,591		5,920		8.25%		2.6		84.1%
1 Richmond Road, Keswick		SA	26.7		26.5		8,100		3,296		9.25%		2.5		100.0%
131-139 Grenfell Street, Adelaide3		SA	20.5		20.5		4,052		5,060		8.75%		3.4		100.0%
Industrial
14 Mars Road, Lane Cove		NSW	21.5		21.5		10,601		2,028		8.00%		5.5		100.0%
13 Ferndell Street, Granville		NSW	17.8		17.8		15,301		1,163		7.75%		3.8		100.0%
149 Kerry Road, Archerfeld		QLD	24.5		24.5		13,774		1,779		7.50%		8.5		100.0%
Total / weighted average			398.7		396.7		112,653		3,943		7.86%		4.4		97.2%

Notes:

(1) by area.

(2) 50% interest

(3) Levels 5 - 9.

Centuria Metropolitan REIT I FY16 Property Compendium

PAGE 2

Overview

Portfolio Diversification

Geographic diversification (by value)

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12%
17% 44%
27%
NSW QLD ACT SA
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Sector diversification (by value)

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16%
84%
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Office Industrial
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Tenant Composition (by income)

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24%
38%
19%
12%
8%
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Listed company Other National
Government Multinational
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Tenancy profile by Size Cohort (by no. tenant)
2.1%
4.9%
7.1%
85.9%
< 500sqm 500 to 1,000sqm
1,000 to 2,000sqm > 2,000sqm
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Weighted average lease expiry (by area)

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46.9%
50
40
30
25.7%
20
11.4%
8.7%
10
4.4%
2.8%
0
Vacant FY17 FY18 FY19 FY20 FY21+
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Centuria Metropolitan REIT I FY16 Property Compendium

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Centuria Metropolitan REIT

BRISBANE

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NT
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WA
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QLD
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SA
NSW
ACT SYDNEY
ADELAIDE VIC CANBERRA
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TAS
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New South Wales

4

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1
2
3
6
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5
25km 20km 15km 10km 5km
radius radius radius radius radius
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Each circle represents 5km radius from the CBD area

New South Wales Portfolio

1 9 Help St, Chatswood, NSW 2 44 Hampden Road, Artarmon, NSW 3 14 Mars Road, Lane Cove, NSW 4 3 Carlingford Road, Epping, NSW 5 13 Ferndell St, Granville, NSW 6 ghway, St Leonards, NSW 203 Pacific Hi

Centuria Metropolitan REIT I FY16 Property Compendium

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9 Help Street Chatswood, NSW

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Description

9 Help Street, Chatswood is a modern, recently refurbished office building located in the core of the Chatswood CBD with a 4.5 star NABERS energy rating. It comprises a ground floor entry, eight levels of office accommodation and three levels of basement parking for 142 vehicles.

Location

The Property is prominently located in the northern Sydney suburb of Chatswood, approximately 10 kilometres from the Sydney CBD. It is in close proximity to an array of facilities, including two superregional shopping centres (Westfield Chatswood and Chatswood Chase) as well as the Mandarin Centre, the Retail/Transport interchange at Chatswood Railway Station, and the recently refurbished Chatswood retail shopping strip on Victoria Avenue.

(by area)

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30
27.4%
23.5% 24.9%
25
20
18.1%
15
2.6%
10 7.6%
5 3.8%
2.3%
0
Vacant FY17 FY18 FY19 FY20 FY21+
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Asset summary

	Asset summary
	Property type	Offce
	NABERS energy rating	4.5 stars
	Ownership interest	100%
	Title	Freehold
	Site area	2,448m2
	Buildingconstructed	1991
	Latest refurbishment	2010
	Car park spaces	142
	Tenancy summary
	Net lettable area (by NLA)	9,400m2
	Occupancy (by NLA)	96.2%
	WALE (by area)	2.3 years
	Major tenants(by Gross Income)
	CH2M Hill Australia	20%
	Visionstream Australia	11%
	Appen Butler Hill	9%
	Valuation summary
	Book value	$55.1m
	Most recent independent valuation	$55.0m
	Valuation date	15 May 2016
	Valuer Capitalisation rate	Cushman & Wakefeld 7.25%

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3 Carlingford Road Epping, NSW

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Description

3 Carlingford Road, Epping consists of a five level modern office building constructed in circa 1986 with basement and on-grade parking for 74 vehicles.

Location

The Property enjoys a high profile position, located on the south-western corner of Carlingford Road and Rawson Street, with a council car park situated adjacent to the site.

Approximately 800 metres from the M2 Hills Motorway, 3 Carlingford Road has excellent access to and from the Sydney CBD and North Sydney, as well as the western and north-western suburbs. The Epping Railway Station is also situated approximately 250 metres from the Property which also provides additional access to multiple employment and education destinations throughout metropolitan Sydney. This will be further enhanced upon completion of the North West Rail Link, which is anticipated to be completed in the first half on 2019.

Asset summary

Asset summary
NABERS energy rating	N/A1
Ownership interest	100%
Title	Freehold
Site area	2,229m2
Buildingconstructed	1986
Latest refurbishment	Periodic
Car park spaces	74
Tenancy summary
Net lettable area (by NLA)	4,702m2
Occupancy (by NLA)	96.8%
WALE (by area)	2.4 years

Major tenants (by Gross Income)

(by area)

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50
40.9%
40
30
21.2%
20
15.6% 14.9%
10
3.2% 4.1%
0
Vacant FY17 FY18 FY19 FY20 FY21+
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Major tenants(by Gross Income)
Baptist Union of NSW	20%
BDH & Co Pty Ltd	8%
Castletons Accounting	8%

Valuation summary

Valuation summary
Book value	$27.0m
Most recent independent valuation	$27.0m
Valuation date	15 May 2016
Valuer	JLL
Capitalisation rate	6.25%

(1) NABERS rating (1 Star) expired in May 16 and currently being processed for renewal.

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14 Mars Road Lane Cove, NSW

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Description

14 Mars Road, Lane Cove is a two level office/warehouse building with extensive rooftop and undercover parking. The Property originally comprised five attached units, which have since been configured into two tenancies with Cochlear currently occupying approximately 60% of the NLA and a complimentary business Nanosonics, operates out of the remaining 40% of the NLA as a subtenant since November 2014.

Cochlear has occupied the premises since July 1987.

Location

The Property is located on the southern side of Mars Road within the Lane Cove Industrial Precinct approximately 12 kilometres north-west of the Sydney CBD. The precinct is also in close proximity to other office/industrial areas, including Artarmon, St Leonards and North Ryde. The immediate surrounding development is of a similar nature and incorporates large modern industrial premises, smaller strata unit complexes and hi-tech industrial estates.

Asset summary

Asset summary
Property type	Offce/Industrial
NABERS energy rating	N/A
Ownership interest	100%
Title	Freehold
Site area	9,883m2
Buildingconstructed	Mid 1970's
Latest refurbishment	2004 & 2010
Car park spaces	180
Tenancy summary
Net lettable area (by NLA)	10,601m2
Occupancy (by NLA)	100.0%
WALE (by area)	5.5 years

(by area)

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100.0%
100
80
60
40
20
0.0% 0.0% 0.0% 0.0% 0.0%
0
Vacant FY17 FY18 FY19 FY20 FY21+
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Major tenants(by Gross Income)
Cochlear Ltd	100%
Valuation summary
Book value	$21.5m
Most recent independent valuation	$21.5m
Valuation date	15 May 2016
Valuer	Colliers
Capitalisation rate	8.00%

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13 Ferndell Street Granville, NSW

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Description

The Property comprises an industrial warehouse with an associated office and amenities building totalling 15,301 sqm of lettable area. The amenities and staff building is attached to the warehouse via an undercover walkway which also connects the offices. The remainder of the land consists of hardstand with parking and drivearound truck access.

Location

The Property is located in South Granville which comprises a relatively small industrial pocket with medium to large size industrial properties situated on both sides of Ferndell Street. The location provides B-Double truck access to Woodville Road and the Hume Highway linking the facility with Sydney’s greater ring-road system. The surrounding area is predominately residential.

(by area)

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100.0%
100
80
60
40
20
0.0% 0.0% 0.0% 0.0% 0.0%
0
Vacant FY17 FY18 FY19 FY20 FY21+
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Asset summary

	Asset summary
	Property type	Industrial
	NABERS energy rating	N/A
	Ownership interest	100%
	Title	Freehold
	Site area	26,740m2
	Buildingconstructed	1960's
	Latest refurbishment	Periodic
	Car park spaces	Multiple parkingbays
	Tenancy summary
	Net lettable area (by NLA)	15,301m2
	Occupancy (by NLA)	100.0%
	WALE (by area)	3.8 years
	Major tenants(by Gross Income)
	BlueScope Steel	100%
	Valuation summary
	Book value	$17.8m
	Most recent independent valuation	$17.8m
	Valuation date	15 May 2016
	Valuer	Cushman & Wakefeld
	Capitalisation rate	7.75%

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44 Hampden Road Artarmon, NSW

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Description

The Property comprises a four storey office building incorporating four ground floor retail tenancies, three upper levels of office accommodation and four split levels of secure parking for 60 vehicles along with 11 unsecured external spaces to the rear of the building.

Location

Artarmon is located approximately 9 kilometres north of the Sydney CBD between the suburbs of St Leonards and Chatswood. The Property is on the western side of Hampden Road at its junction with Jersey Road in the heart of Artarmon. The Artarmon Railway Station is located directly opposite the Property.

The major centres of North Sydney and Chatswood are situated approximately 4 kilometres to the south and one kilometre to the north respectively.

Asset summary

Asset summary
Property type	Offce
NABERS energy rating	N/A
Ownership interest	100%
Title	Leasehold
Site area	1,703m2
Buildingconstructed	1992
Latest refurbishment	Periodic
Car park spaces	71
Tenancy summary
Net lettable area (by NLA)	2,306m2
Occupancy (by NLA)	100.0%
WALE (by area)	2.2 years

(by area)

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35
31.0%
29.7%
30 28.0%
25
20
15
11.3%
10
5
0.0% 0.0%
0
Vacant FY17 FY18 FY19 FY20 FY21+
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Major tenants(by Gross Income)
The Leukaemia Foundation	17%
First Five Minutes Pty Ltd	16%
Philip Chun & Associates	13%

Valuation summary

Valuation summary
Book value	$8.5m
Most recent independent valuation	$8.5m
Valuation date	15 May 2016
Valuer	Cushman & Wakefeld
Capitalisation rate	8.50%

Centuria Metropolitan REIT I FY16 Property Compendium

PAGE 9

203 Pacific Highway St Leonards, NSW

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Description

203 Pacific Highway, St Leonards consists of a modern, 11 level commercial office building featuring 7 retail tenancies on the ground floor, together with secure basement parking for approximately 150 vehicles. The Property was constructed in 2000 and forms part of the Forum complex incorporating the central plaza area of the development.

Location

The Property is located in the heart of the St Leonards business precinct directly above the entrance to the Railway Station, approximately five kilometres north of the Sydney CBD. The asset is well serviced by public transport and the amenity provided by the retail and food offerings contained within the Forum complex.

Asset summary

Asset summary
Property type	Offce
NABERS energy rating	3 stars
Ownership interest	50%
Title	Leasehold
Site area	4,690m2
Buildingconstructed	2000
Latest refurbishment	Periodic
Car park spaces	150
Tenancy summary
Net lettable area (by NLA)	11,737m2
Occupancy (by NLA)	100.0%
WALE (by area)	4.4 years

(by area)

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40
37.0%
35
31.8%
30.1%
30
25
20
15
10
5
0.0% 0.4% 0.8%
0
Vacant FY17 FY18 FY19 FY20 FY21+
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Major tenants(by Gross Income)
Primary Health Care	30%
Cardno	30%
Verizon Australia Pty Ltd	26%
Valuation summary
Book value	$45.5m
Most recent independent valuation (50%)	$45.5m
Valuation date	15 May 2016
Valuer	CBRE
Capitalisation rate	7.50%

Centuria Metropolitan REIT I FY16 Property Compendium

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Centuria Metropolitan REIT

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Queensland
2
3
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NT
QLD
WA BRISBANE
SA
NSW
ACT SYDNEY
ADELAIDE VIC CANBERRA
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TAS
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1
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Each circle represents 5km radius from the CBD area

Queensland Portfolio

1 35 Robina Town Centre, Robina, QLD 2 555 Coronation Drive, Brisbane, QLD 3 149 Kerry Road, , QLD Archerfield

Centuria Metropolitan REIT I FY16 Property Compendium

PAGE 11

35 Robina Town Centre Robina, QLD

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Description

Known as Foxtel HQ, the Property consists of a modern commercial office tower fully occupied by Foxtel, with 6 levels of office accommodation and average floorplates of 1,600 sqm. The Property also contains 268 above and below ground parking spaces.

Location

Located approximately 10 kilometres south-west of Surfers Paradise and approximately 85 kilometres south-east of the Brisbane CBD, Foxtel HQ is positioned directly opposite Robina Town Centre, the third largest shopping centre in Queensland and is located close to Bond University. The property is ideally located in the commercial precinct.

(by area)

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100.0%
100
80
60
40
20
0.0% 0.0% 0.0% 0.0% 0.0%
0
Vacant FY17 FY18 FY19 FY20 FY21+
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Asset summary

Asset summary
Property type	Offce
NABERS energy rating	N/A
Ownership interest	100%
Title	Freehold
Site area	6,760m2
Buildingconstructed	2001
Latest refurbishment	2015
Car park spaces	268

Tenancy summary

Tenancy summary
Net lettable area (by NLA)	9,814m2
Occupancy (by NLA)	100.0%
WALE (by area)	7.3 years
Major tenants(by Gross Income)
Austar Entertainment Pty Limited (Foxtel)	100%
Valuation summary
Book value	$48.8m
Most recent independent valuation	$48.8m
Valuation date	15 May 2016
Valuer	CBRE
Capitalisation rate	7.50%

(1) NABERS rating (2 Star) expired in May 16 and currently being processed for renewal.

Centuria Metropolitan REIT I FY16 Property Compendium

PAGE 12

555 Coronation Drive Brisbane, QLD

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Description

555 Coronation Drive, Brisbane is a prominent three storey office building featuring two and a half levels of basement parking for 175 vehicles. Constructed in 1990 and progressively refurbished over the last four and a half years, the building contains open floor plates of approximately 2,000 sqm with good natural light and river views.

Location

The Property is located in the Brisbane suburb of Toowong three kilometres south-west of the Brisbane CBD in an established near city precinct well serviced by bus, rail, river ferry and road transport. Toowong houses many national headquarters for engineering, information technology, mining and communications companies. Coronation Drive is a major vehicular carriageway connecting the western suburbs with Brisbane CBD. Toowong Village shopping centre and railway station are also located within 200 metres of the Property.

(by area)

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80
70
64.5%
60
50
40
30
19.5%
20 15.9%
10
0.0% 0.0% 0.0%
0
Vacant FY17 FY18 FY19 FY20 FY21+
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Asset summary

	Asset summary
	Property type	Offce
	NABERS energy rating	4 stars
	Ownership interest	100%
	Title	Freehold
	Site area	3,104m2
	Buildingconstructed	1990
	Latest refurbishment	Over the last 4 years
	Car park spaces	175
	Tenancy summary
	Net lettable area (by NLA)	5,591m2
	Occupancy (by NLA)	84.1%
	WALE (by area)	2.6 years
	Major tenants(by Gross Income)
	CSC Australia	58%
	Chandler Macleod Services	22%
	State Mercantile	19%

Valuation summary

Valuation summary
Book value	$33.1m
Most recent independent valuation	$33.1m
Valuation date	15 May 2016
Valuer	CBRE
Capitalisation rate	8.25%

Centuria Metropolitan REIT I FY16 Property Compendium

PAGE 13

149 Kerry Road Archerfield, QLD

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Description

149 Kerry Road, Archerfield is a large manufacturing and storage facility with an attached single level office building, several demountable buildings, a workshop and large areas of hardstand and truck maneuvering areas. The main facility was purpose built for BlueScope Steel (previously John Lysaght Australia) in 1991 and is in good condition.

Location

The Property is located in the centre of the Archerfield Industrial precinct, approximately 13 kilometres south of the Brisbane CBD. This precinct is at the junction of Ipswich, Beaudesert and Granard Roads all of which are major southside arterial roads. Beaudesert and Ipswich Roads continue south and west respectively to join the Logan Motorway and interstate Mt Lindesay and Cunningham Highways. Kerry Road is the main access point to the Acacia Ridge rail marshalling yards which is the main interchange junction for narrow and standard gauge rail changeover.

Asset summary

Asset summary
Property type	Industrial
NABERS energy rating	N/A
Ownership interest	100%
Title	Freehold
Site area	44,340m2
Buildingconstructed	1991
Latest refurbishment	Periodic
Car park spaces	Multiple parkingbays
Tenancy summary
Net lettable area (by NLA)	13,774m2
Occupancy (by NLA)	100.0%
WALE (by area)	8.5 years

(by area)

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100.0%
100
80
60
40
20
0.0% 0.0% 0.0% 0.0% 0.0%
0
Vacant FY17 FY18 FY19 FY20 FY21+
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Major tenants(by Gross Income)
BlueScope Steel	100%
Valuation summary
Book value	$24.5m
Most recent independent valuation	$24.5m
Valuation date	15 May 2016
Valuer	CBRE
Capitalisation rate	7.50%

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PAGE 14

Centuria Metropolitan REIT

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NT
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WA
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NT
QLD
BRISBANE
SA
NSW
ACT SYDNEY
ADELAIDE VIC CANBERRA
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TAS
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Australian Capital Territory
1
2
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1km
radius
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Australian Capital Territory Portfolio

1 60 Marcus Clarke Street, Canberra, ACT 2 54 Marcus Clarke Street, Canberra, ACT

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PAGE 15

60 Marcus Clarke Street Canberra, ACT

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Description

Also known as the “St George Bank Building”, 60 Marcus Clarke Street comprises a 13 level, multi-tenanted commercial office property featuring a ground floor foyer including 5 retail tenancies and a combination of basement and deck car parking for approximately 133 spaces. Recent major capital expenditure works have included upgrade of the foyer and the atrium, various lift lobbies, painting of external facade, the external paving together with the construction of new end of trip facility and the establishment of new signage.

Location

The Property is adjacent to 54 Marcus Clarke Street and located directly opposite the Australian National University and within walking distance to three major Federal Government headquarters including the Department of Education, Australian Taxation Office and Department of Infrastructure making the precinct desirable for tenants servicing these organisations.

Asset summary

Asset summary
Property type	Offce
NABERS energy rating	3.5 stars
Ownership interest	100%
Title	Leasehold
Site area	3,847m2
Buildingconstructed	1988
Latest refurbishment	2016
Car park spaces	133
Tenancy summary
Net lettable area (by NLA)	12,120m2
Occupancy (by NLA)	91.3%
WALE (by area)	3.4 years

(by area)

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50
46.9%
40
30
20.4%
20
11.4%
8.7% 8.3%
10
4.3%
0
Vacant FY17 FY18 FY19 FY20 FY21+
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Major tenants(by Gross Income)
St George Bank	13%
Aecom Australia	13%
Duesbury Nexia	8%

Valuation summary

Valuation summary
Book value	$52.8m
Most recent independent valuation	$51.7m
Valuation date	15 May 2016
Valuer	Knight Frank
Capitalisation rate	8.25%

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PAGE 16

54 Marcus Clarke Street Canberra, ACT

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Description

54 Marcus Clarke Street is a multi-tenanted building located in the Western Core of Canberra’s CBD including nine levels of office accommodation, ground floor retail, a two–storey podium to Rudd Street and one level of basement car parking. Recent major capital expenditure works have included the ground floor foyer, various lift lobbies, painting of external facades, signage and the external paving. This is being completed in conjunction with refurbishment works being undertaken at 60 Marcus Clarke Street.

Location

The Property is adjacent to 60 Marcus Clarke Street and located directly opposite the Australian National University and within walking distance to three major Federal Government headquarters including the Department of Education, Australian Taxation Office and Department of Infrastructure making the precinct desirable for tenants servicing these organisations.

Asset summary

Asset summary
Property type	Offce
NABERS energy rating	3 stars
Ownership interest	100%
Title	Leasehold
Site area	1,667m2
Buildingconstructed	1986
Latest refurbishment	2016
Car park spaces	48
Tenancy summary
Net lettable area (by NLA)	5,155m2
Occupancy (by NLA)	85.8%
WALE (by area)	2.6 years

(by area)

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40
36.7%
35
30
25
20
17.6%
16.1%
15 14.2%
10 9.1%
6.2%
5
0
Vacant FY17 FY18 FY19 FY20 FY21+
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Major tenants(by Gross Income)
Clarity Financial Group	12%
SHL Developments	11%
Hudson Global Resources	8%

Valuation summary

Valuation summary
Book value	$16.9m
Most recent independent valuation	$16.3m
Valuation date	15 May 2016
Valuer	Knight Frank
Capitalisation rate	9.25%

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Centuria Metropolitan REIT

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NT
QLD
BRISBANE
SA
NSW
ACT SYDNEY
ADELAIDE VIC CANBERRA
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WA
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TAS
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South Australia

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2
5km
radius
1
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Each circle represents 5km radius from the CBD area

South Australia Portfolio

1 1 Richmond Road, Keswick, SA 2 131-139 Grenfell Street, Adelaide, SA

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PAGE 18

1 Richmond Road Keswick, SA

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Description

1 Richmond Road, Keswick is a five level office building located approximately 3.5 kilometres south-west of the Adelaide CBD featuring on-grade parking for 326 vehicles. Recently completed external and common area upgrades with the aim of improving market rents and mitigating the leasing risk associated with the Minister for Transport & Infrastructure.

Location

The Property is prominently located on one of Adelaide’s main arterial roads approximately 3.5 kilometres south-west of Adelaide’s CBD and is within proximity to the established office precincts of Greenhill Road and the Adelaide CBD.

Asset summary

Asset summary
Property type	Offce
NABERS energy rating	3 stars
Ownership interest	100%
Title	Freehold
Site area	19,310m2
Buildingconstructed	1985
Latest refurbishment	2016
Car park spaces	326
Tenancy summary
Net lettable area (by NLA)	8,100m2
Occupancy (by NLA)	100.0%
WALE (by area)	2.5 years

Major tenants (by Gross Income)

(by area)

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57.8%
60
50
42.2%
40
30
20
10
0.0% 0.0% 0.0% 0.0%
0
Vacant FY17 FY18 FY19 FY20 FY21+
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Major tenants(by Gross Income)
Minister for Transport & Infrastructure	55%
Royal District NursingService	45%

Valuation summary

Valuation summary
Book value	$26.7m
Most recent independent valuation	$26.5m
Valuation date	15 May 2016
Valuer	Savills
Capitalisation rate	9.25%

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131-139 Grenfell Street Adelaide, SA

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Description

Built in 2009, the Property comprises 5 levels of high quality office space together with 10 secure car parks contained within a strata titled mixed use development known as “Conservatory on Hindmarsh”.

Location

131-139 Grenfell Street is located in the core of the Adelaide CBD and within walking distance to Rundle Mall, Rundle Street and overlooking the amenity provided by Hindmarsh Square. The Property is ideally located for both private sector and government tenants.

Asset summary

Asset summary
Property type	Offce
NABERS energy rating	4.5 stars
Ownership interest	100%
Title	Freehold
Site area	1,253m2
Buildingconstructed	2009
Latest refurbishment	N/A
Car park spaces	10
Tenancy summary
Net lettable area (by NLA)	4,052m2
Occupancy (by NLA)	100.0%
WALE (by area)	3.4 years

(by area)

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100.0%
100
80
60
40
20
0.0% 0.0% 0.0% 0.0% 0.0%
0
Vacant FY17 FY18 FY19 FY20 FY21+
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Major tenants(by Gross Income)
Minister for Infrastructure	100%
Valuation summary
Book value	$20.5m
Most recent independent valuation	$20.5m
Valuation date	15 May 2016
Valuer	Savills
Capitalisation rate	8.75%

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Centuria Metropolitan REIT

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1 RICHMOND ROAD, KESWICK SA

Further Information:

Shalome Ruiter Investor Relations +61 2 8923 8962 Nicholas Blake Trust Manager +61 2 8923 8923

www.centuria.com.au/listed-property

CA-CMA-03/05/16-00265

CENTURIA METROPOLITAN REIT I FY16 PROPERTY COMPENDIUM