CENTURIA OFFICE REIT — Fund Information / Factsheet 2018

Aug 20, 2018

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Centuria Metropolitan REIT F Y18 P R O P ER T Y C O MP ENDIU M | ASX :CM A

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Directory

NSW

PAGE	Property
6	201 Pacifc Highway, St Leonards
7	9 Help Street, Chatswood
8	203 Pacifc Highway, St Leonards
9	3 Carlingford Road, Epping
10	77 Market Street, Wollongong
11	13 Ferndell Street, Granville

VIC

PAGE		Property
13		576 Swan Street, Richmond
14	2	Kendall Street, Williams Landing

QLD

ACT

PAGE		Property
22	60	Marcus Clarke Street, Canberra
23	54	Marcus Clarke Street, Canberra

WA

PAGE	Property
25	144 Stirling Street, Perth
26	42-46 Colin Street, West Perth

SA

PAGE	Property
28	1 Richmond Road, Keswick
29	131-139 Grenfell Street, Adelaide

PAGE	Property
16	154 Melbourne Street, South Brisbane
17	438-517 Kingsford Smith Drive, Hamilton
18	35 Robina Town Centre Drive, Robina
19	555 Coronation Drive, Toowong
20	149 Kerry Road, Archerfeld

CENTURIA METROPOLITAN REIT I ASX: CMA I FY18 PROPERTY COMPENDIUM

PAGE 2

Overview

Key portfolio metrics[1]

Top 10 tenants (by gross income)[1]

Metric	Total
Assets	19
Book Value	$930.5m
Capitalisation rate	6.68%
Net Lettable Area	183,339
Occupancy (by NLA)	98.9%
WALE (by Income)	4.0

Rank	Tenant	% Total Income
1	Insurance Australia Limited	6.5%
2	Target Australia	5.8%
3	Austar Entertainment Pty Limited	5.5%
4	Bluescope Steel Limited	4.6%
5	Hatch	3.8%
6	Minister for Works (WA Police)	3.7%
7	GE Capital Finance Australasia	3.4%
8	Domino’s Pizza Ltd	3.2%
9	Cisco Systems Australia	3.2%
10	Minister for Infrastructure	3.2%

Portfolio overview[ 1]

Portfolio overview 1
		Book	Indep.
		Value	Valuation	Cap	NLA	$	WALE 2
Property	State	($m)	($m)	Rate	(sqm)	(sqm)	**(years) **	Occupancy3
Offce
201 Pacifc Highway, St Leonards4	NSW	$85.0m	$85.8m	6.50%	16,488	10,310	2.9	99.8%
9 Help Street, Chatswood	NSW	$76.0m	$76.0m	6.00%	9,394	8,090	3.0	100.0%
203 Pacifc Highway, St Leonards4	NSW	$57.0m	$57.0m	6.50%	11,734	9,715	5.4	100.0%
3 Carlingford Road, Epping	NSW	$36.0m	$28.3m	5.25%	4,702	7,657	2.0	100.0%
77 Market Street, Wollongong	NSW	$34.6m	$33.3m	7.00%	6,755	5,123	4.4	100.0%
576 Swan Street, Richmond	VIC	$63.5m	$62.0m	5.75%	8,331	7,622	3.7	100.0%
2 Kendall Street, Williams Landing1	VIC	$58.2m	$58.2m	6.50%	12,919	4,507	10.0	100.0%
154 Melbourne Street, South Brisbane	QLD	$78.5m	$76.0m	6.75%	11,314	6,939	2.2	88.4%
438-517 Kingsford Smith Drive, Hamilton	QLD	$78.0m	$77.0m	6.25%	9,322	8,367	6.5	99.2%
35 Robina Town Centre Drive, Robina	QLD	$55.3m	$55.0m	7.13%	9,814	5,630	5.3	100.0%
555 Coronation Drive, Toowong	QLD	$32.5m	$33.7m	7.50%	5,569	5,836	2.5	90.1%
60 Marcus Clarke, Canberra	ACT	$63.5m	$61.5m	7.00%	12,132	5,234	2.4	100.0%
54 Marcus Clarke, Canberra	ACT	$20.9m	$20.9m	7.50%	5,169	4,043	3.9	100.0%
144 Stirling Street, Perth	WA	$56.0m	$55.3m	7.50%	11,042	5,072	2.9	100.0%
42-46 Colin Street, West Perth	WA	$34.5m	$33.6m	7.50%	8,439	4,088	4.6	100.0%
1 Richmond Road, Keswick	SA	$33.0m	$33.0m	7.50%	8,087	4,081	5.0	100.0%
131-139 Grenfell Street, Adelaide6	SA	$19.3m	$19.3m	8.00%	4,052	4,751	1.4	100.0%
Industrial
149 Kerry Road, Archerfeld	QLD	$28.1m	$27.3m	6.25%	13,774	2,040	6.5	100.0%
13 Ferndell Street, Granville	NSW	$20.7m	$19.9m	6.75%	15,302	1,353	1.8	100.0%
Total / weighted average		$930.5m	$913.0m	6.68%	184,339	5,818	4.0	98.9%

• 1) Excluding WACR, includes 2 Kendall Street, Williams Landing, VIC as if complete

• 2) Weighted by gross income

• 3) By area

• 4) 50% interest

• 5) Contracted to sell, settlement expected to occur November 2018.

• 6) Levels 5-9

CENTURIA METROPOLITAN REIT I ASX: CMA I FY18 PROPERTY COMPENDIUM

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Portfolio diversification (by value)

[ 1]

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36% NSW
31% QLD
10% WA
10% ACT
7% VIC
6% SA
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Tenant composition (by income)[ 1]

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30% ASX Listed company
15% Government
14% Listed Multinational
13% Multinational
13% National
15% Other
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[ 1]

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94% Office
6% Industrial
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[ 1]

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70% < 500sqm
11% 500-1,000sqm
7% 1,000-2,000sqm
12% > 2,000sqm
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Weighted average lease expiry (by income)

60 (%)

50

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47.0%
40
30
20
15.3% 14.6%
10 11.5% 10.4%
0 1.2%
Vacant FY19 FY20 FY21 FY22 FY23+
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1) Includes acquisitions and includes Williams Landing, VIC, as if complete

CENTURIA METROPOLITAN REIT I ASX: CMA I FY18 PROPERTY COMPENDIUM

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Centuria Metropolitan REIT

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New South Wales
5
10km
2
3
1
6
SYDNEY
4
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Each circle represents 10km radius from the CBD area

New South Wales Portfolio

	1	201 Pacifc Highway, St Leonards
	2 3 4 5 6	9 Help Street, Chatswood 203 Pacifc Highway, St Leonards 77 Market Street, Wollongong 3 Carlingford Road, Epping 13 Ferndell Street, Granville

CENTURIA METROPOLITAN REIT I ASX: CMA I FY18 PROPERTY COMPENDIUM

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201 Pacific Highway St Leonards, NSW

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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.

Description

201 Pacific Highway is a modern A-Grade asset, constructed in 2000 and with a net lettable area of 16,488sqm. The property is part of the Forum complex and has a diversified tenancy mix including Cisco System’s Australia, IMS Health and Primary Healthcare.

Asset summary

Asset summary
Property type	Offce
NABERS energy rating	3.5 stars
Ownership interest	50%
Title	Freehold
Site area	4,718 sqm
Buildingconstructed	2000
Latest refurbishment	N/A
Car park spaces	145
Tenancy summary
Net lettable area (by NLA)	16,488
Occupancy (by NLA)	99.8%
WALE (by income)	2.9 years

Major tenants (by gross income)

Expiry profile (by income)

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45 (%)
40 39.0%
35 34.0%
30
25
20 20.0%
15
10
6.0%
5
1.0% 1.0%
0
Vacant FY19 FY20 FY21 FY22 FY23+
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Major tenants (by gross income)
Cisco Systems Australia	38%
Quintiles	17%
Health Communication Network	8%

Valuation summary

Valuation summary
Book value (50%)1		$85.0m
Most recent independent valuation (50%) 2		$85.8m
Valuation date	30	November 2017
Valuer		C&W
Capitalisation rate (current)		6.50%

1) Book value includes $1.2million of outstanding incentives

• 2) Independent valuation excludes outstanding incentives

CENTURIA METROPOLITAN REIT I ASX: CMA I FY18 PROPERTY COMPENDIUM

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9 Help Street Chatswood, NSW

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Location

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

Description

9 Help Street, Chatswood is a modern 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 140 vehicles.

Asset summary

Asset summary
Property type	Offce
NABERS energy rating	5.5 stars
Ownership interest	100%
Title	Freehold
Site area	2,488 sqm
Buildingconstructed	1991
Latest refurbishment	2010
Car park spaces	140
Tenancy summary
Net lettable area (by NLA)	9,394
Occupancy (by NLA)	100.0%
WALE (by income)	3.0 years

Major tenants (by gross income)

Expiry profile (by income)

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45 (%)
35 35.0%
30 30.0%
25
20 18.0%
15 13%
10
5 4.0%
0 0.0%
Vacant FY19 FY20 FY21 FY22 FY23+
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Major tenants (by gross income)
CH2M Hill Australia	13%
Appen Butler Hill	9%
Visionstream Australia	7%

Valuation summary

Valuation summary
Book value	$76.0m
Most recent independent valuation	$76.0m
Valuation date	30 June 2018
Valuer	C&W
Capitalisation rate (current)	6.00%

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203 Pacific Highway St Leonards, NSW

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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.

Description

203 Pacific Highway, St Leonards consists of a modern, 11 level commercial office building featuring seven 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.

Asset summary

Asset summary
Property type	Offce
NABERS energy rating	4.5 stars
Ownership interest	50%
Title	Leasehold
Site area	4,690 sqm
Buildingconstructed	2000
Latest refurbishment	Periodic
Car park spaces	150
Tenancy summary
Net lettable area (by NLA)	11,734
Occupancy (by NLA)	100.0%
WALE (by income)	5.4 years

Major tenants (by gross income)

Expiry profile (by income)

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80 (%)
70
63.0%
60
50
40
30 27.0%
20
10 5.0%
0 0.0% 2.0% 3.0%
Vacant FY19 FY20 FY21 FY22 FY23+
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Major tenants (by gross income)
Primary Health Care	31%
Cardno	30%
Verizon Australia Pty Ltd	27%

Valuation summary

Valuation summary
Book value (50%)	$57.0m
Most recent independent valuation (50%)	$57.0m
Valuation date	30 June 2018
Valuer	C&W
Capitalisation rate (current)	6.50%

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3 Carlingford Road Epping, NSW

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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 of 2019.

Description

Asset summary[ 1]

Asset summary 1
Property type	Offce
NABERS energy rating	1.5 star
Ownership interest	100%
Title	Freehold
Site area	2,229 sqm
Buildingconstructed	1986
Latest refurbishment	Periodic
Car park spaces	74
Tenancy summary
Net lettable area (by NLA)	4,702
Occupancy (by NLA)	100.0%
WALE (by income)	2.0 years

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

Expiry profile (by income)

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60 (%) 57.0%
40
20 19.0% 20.0%
4.0%
0 0.0% 0.0%
Vacant FY19 FY20 FY21 FY22 FY23+
1) Contracted to sell, settlement anticipated to occur November 2018
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Major tenants (by gross income)

	Major tenants (by gross income)
	Baptist Union of NSW	19%
	Castletons Accounting	7%
	BDH & Co Pty Ltd	7%

Valuation summary
Book value	$36.0m
Most recent independent valuation	$28.3m
Valuation date	30 November 2017
Valuer	JLL
Capitalisation rate (current)	5.25%

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77 Market Street Wollongong, NSW

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Location

Wollongong is some 69 kilometres south east of the Sydney CBD. 77 Market Street is in a prominent position in the centre of Wollongong CBD and is in close proximity to surrounding amenity including Wollongong Central Shopping Centre and Wollongong Railway Station, which has an interconnecting train line to the Sydney Metropolitan.

Description

Asset summary

Asset summary
Property type	Offce
NABERS energy rating	4.0 stars
Ownership interest	100%
Title	Freehold
Site area	2,544 sqm
Buildingconstructed	2008
Latest refurbishment	N/A
Car park spaces	131

77 Market Street was constructed in 2008 and is an ‘A-Grade’ office building. The property has a net lettable area of 6,755 square metres and includes five levels of commercial office accommodation, ground floor reception and car parking. It is a modern office building that accommodates a number of high quality blue-chip tenancies and is regarded as one of the premier commercial buildings in the region.

Expiry profile (by income)

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70 (%) 70.0%
60
50
40
30 30.0%
20
10
0 0.0% 0.0% 0.0% 0.0%
Vacant FY19 FY20 FY21 FY22 FY23+
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Tenancy summary

	Tenancy summary
	Net lettable area (by NLA)	6,755
	Occupancy (by NLA)	100.0%
	WALE (by income)	4.4 years

Major tenants (by gross income)

	Major tenants (by gross income)
	AHM Group (Medibank Private)	40%
	IRT Group (Illawarra Retirement Trust)	25%
	Illawarra Newspaper Holdings	14%

Valuation summary

Valuation summary
Book value	$34.6m
Most recent independent valuation	$33.3m
Valuation date	30 November 2017
Valuer	Savills
Capitalisation rate (current)	7.00%

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13 Ferndell Street Granville, NSW

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Location

The property’s infill location, in south Granville, forms part of an established industrial precinct of medium to large industrial facilities along Ferndell Street. Ferndell Street benefits from B-Double truck access to Woodville Road and the Hume Highway, linking the site to Sydney’s greater ring road system.

Description

13 Ferndell Street comprises warehouse and associated office amenities totalling 15,302 square metres of lettable area. The property is serviced by an undercover walkway, providing interconnectivity between the office and the warehouse amenity. The site includes hardstand, parking for some 53 vehicles and drive-around truck access.

Asset summary

Asset summary
Property type	Industrial
NABERS energy rating	N/A
Ownership interest	100%
Title	Freehold
Site area	26,740 sqm
Buildingconstructed	1960’s
Latest refurbishment	Periodic
Car park spaces	53
Tenancy summary
Net lettable area (by NLA)	15,302
Occupancy (by NLA)	100.0%
WALE (by income)	1.8 years

Expiry profile (by income)

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120 (%)
100 100%
80
60
40
20
0 0.0% 0.0% 0.0% 0.0% 0.0%
Vacant FY19 FY20 FY21 FY22 FY23+
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Major tenants (by gross income)

Major tenants (by gross income)
Bluescope Steel Limited	100%
Valuation summary
Book value	$20.7m
Most recent independent valuation	$19.9m
Valuation date	30 November 2017
Valuer	CBRE
Capitalisation rate (current)	6.75%

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Centuria Metropolitan REIT

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Victoria
MELBOURNE
1
2
10km
20km
30km
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Each circle represents 10km radius from the CBD area

Victoria Portfolio

1 576 Swan Street, Richmond, VIC 2 2 Kendall Street, Williams Landing VIC

CENTURIA METROPOLITAN REIT I ASX: CMA I FY18 PROPERTY COMPENDIUM

PAGE 12

576 Swan Street Richmond, VIC

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Location

The Property is located approximately six kilometres east of Melbourne’s CBD within Botanicca Corporate Park. The site is well serviced by public transport with Hawthorn Railway Station approximately one kilometre north. Trams operating along Swan Street and Power Street are also in close proximity. The asset is situated a short distance to the Swan Street retail precinct.

Description

Completed in 2013, the property comprises a five level, A-grade commercial office building with NLA of 8,331 square metres. The property incorporates office accommodation across levels one to four, as well as ground floor retail and basement car parking. Typical office plates range from approximately 1,500 square metres to 2,300 square metres.

Expiry profile (by income)

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60 (%) 58.0%
50
42.0%
40
30
20
10
0 0.0% 0.0% 0.0% 0.0%
Vacant FY19 FY20 FY21 FY22 FY23+
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Asset summary

Asset summary
Property type	Offce
NABERS energy rating	4.5 stars
Ownership interest	100%
Title	Freehold
Site area	4,499 sqm
Buildingconstructed	2013
Latest refurbishment	N/A
Car park spaces	209
Tenancy summary
Net lettable area (by NLA)	8,331
Occupancy (by NLA)	100.0%
WALE (by income)	3.7 years

Major tenants (by gross income)

Major tenants (by gross income)
GE Capital Finance Australasia	58%
Forever New ClothingPty Ltd	38%
Valuation summary
Book value	$63.5m
Most recent independent valuation	$62.0m
Valuation date	30 November 2017
Valuer	Colliers
Capitalisation rate (current)	5.75%

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2 Kendall Street Williams Landing, VIC

Artist Impression

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Location

The property is located on the north east corner of Kendall Street and Altair Street in Williams Landing, approximately 20 kilometres south west of melbourne CBD. Williams Landing is largely a new residential suburb located on the northern side of the Princess Freeway and features a town square consisting the Williams Landing Shopping Centre and Williams Landing Railway Station. More specifically, the property is located within the Williams Landing Town Centre.

Description

The property is a multi-level, A-Grade suburban office building consisting of a net lettable area of 12,919 sqm. The building is currently in the process of being developed and Target Australia, a wholly owned subsidiary of Wesfarmers (WES:ASX), will occupy 100% of the building on a ten year lease (from completion of construction). Upon completion, an anticipated 4.0 star NABERS energy rating, 384 car spaces, a ground floor cafe and modern end of trip facilities.

Expiry profile (by income)

100 (%)	100 (%)					100.0%
80
60
40
20
0	0.0%	0.0%	0.0%	0.0%	0.0%
	Vacant	FY19	FY20	FY21	FY22	FY23+
1) As if	completed

Asset summary[1]

	Asset summary1
	Property type NABERS energy rating	Offce N/A
	Ownership interest	100%
	Title Site area	Freehold 4,401 sqm
	Buildingconstructed	2018
	Latest refurbishment	N/A
	Car park spaces	384
	Tenancy summary
	Net lettable area (by NLA)	12,919
	Occupancy (by NLA) WALE (by income)	100.0% 10.0 years
	Major tenants (by gross income)
	Target	100%
	Valuation summary
	Book value	$58.2m
	Most recent independent valuation	$58.2m
	Valuation date	19 June 2017
	Valuer	Savills
	Capitalisation rate (current)	6.50%

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Centuria Metropolitan REIT

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Queensland
2 20km
1
4 10km
BRISBANE
5
20km
10km
GOLD COAST
3
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Each circle represents 10km radius from the CBD area

Queensland Portfolio

1 154 Melbourne Street, South Brisbane 2 438-517 Kingsford Smith Drive, Hamilton 3 35 Robina Town Centre Drive, Robina 4 555 Coronation Drive, Brisbane 5 149 Kerry Road, Archerfield

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154 Melbourne Street South Brisbane, QLD

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Location

154 Melbourne Street is located less than two kilometres south west of Brisbane CBD. Situated on the corner of Melbourne Street and Manning Street, the property benefits from its close proximity to surrounding retail and dining amenity.

Description

The property is improved with an 11 storey A-Grade office building which was completed in 2009. The building incorporates two basement levels of car parking for 102 vehicles, ground level foyer and retail accommodation, as well as ten upper levels of office accommodation.

Expiry profile (by income)

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60 (%) 58.0%
50
40 40.0%
30
20
10
0 0.0% 2.0% 0.0% 0.0%
Vacant FY19 FY20 FY21 FY22 FY23+
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Asset summary

Asset summary
Property type		Offce
NABERS energy rating		5.5 stars
Ownership interest		100%
Title		Freehold
Site area		1,845 sqm
Buildingconstructed		2009
Latest refurbishment		N/A
Car park spaces		102
Tenancy summary
Net lettable area (by NLA)		11,314
Occupancy (by NLA)		88.4%
WALE (by income)		2.2 years
Major tenants (by gross income)
Department Housing& Public Works (QCAA)		39%
Department Housing& Public Works (DOJ)		33%
Valuation summary
Book value		$78.5m
Most recent independent valuation		$76.0m
Valuation date	30	November 2017
Valuer		CBRE
Capitalisation rate (current)		6.75%

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483-517 Kingsford Smith Drive Hamilton, QLD

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Location

The Property is located on the southern alignment of Kingsford Smith Drive within the established suburb of Hamilton, approximately six kilometres north east of the Brisbane CBD and approximately nine kilometres and ten kilometres south west of the Brisbane International and Domestic airports, respectively.

Description

The Property comprises two modern commercial office buildings completed in May 2013. Building One, referred to as Kingsford Smith Drive 1 (KSD1) comprises ground floor retail anchored by a Metro Woolworths Supermarket and supported by five retail tenancies. The asset also has five upper levels of office space. Building Two, referred to as Central Retail Building (CRB) comprises ground floor retail for five tenants and level one office space. Basement parking is provided for 192 vehicles. Additional parking is provided at-grade within the ‘Plaza’ for 69 vehicles.

Expiry profile (by income)

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80 (%)
71.0%
60
40
20 16.0%
10.0%
0 0.0% 2.0% 1.0%
Vacant FY19 FY20 FY21 FY22 FY23+
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Asset summary

Asset summary
Property type	Offce
NABERS energy rating	4.5 stars
Ownership interest	100%
Title	Freehold
Site area	15,300 sqm
Buildingconstructed	2013
Latest refurbishment	N/A
Car park spaces	261

Tenancy summary

Tenancy summary
Net lettable area (by NLA)	9,322
Occupancy (by NLA)	99.2%
WALE (by income)	6.5 years
Major tenants (by gross income)
Domino’s Pizza Ltd	44%
Devine Ltd	16%
Collins Restaurants Management Pty Ltd	13%

Valuation summary

Valuation summary
Book value	$78.0m
Most recent independent valuation	$77.0m
Valuation date	30 November 2017
Valuer	Colliers
Capitalisation rate (current)	6.25%

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35 Robina Town Centre Drive Robina, QLD

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Location

Located approximately ten 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.

Description

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

Expiry profile (by income)

100	(%)					100.0%
80
60
40
20
0	0.0%	0.0%	0.0%	0.0%	0.0%
	Vacant	FY19	FY20	FY21	FY22	FY23+

Asset summary

Asset summary
Property type	Offce
NABERS energy rating	Exempt
Ownership interest	100%
Title	Freehold
Site area	6,760 sqm
Buildingconstructed	2001
Latest refurbishment	2015
Car park spaces	268
Tenancy summary
Net lettable area (by NLA)	9,814
Occupancy (by NLA)	100.0%
WALE (by income)	5.3 years
Major tenants (by gross income)
Austar Entertainment Pty Limited	100%
Valuation summary
Book value	$55.3m
Most recent independent valuation	$55.0m
Valuation date	30 November 2017
Valuer	Colliers
Capitalisation rate (current)	7.13%

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555 Coronation Drive Toowong, QLD

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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, which is 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.

Asset summary

Asset summary
Property type	Offce
NABERS energy rating	1.0 star
Ownership interest	100%
Title	Freehold
Site area	3,104 sqm
Buildingconstructed	1990
Latest refurbishment	2017
Car park spaces	175

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. In late 2016, to further enhance to appeal of the property to prospective tenants, both the end of trip facilities and foyer were upgraded.

Tenancy summary

	Tenancy summary
	Net lettable area (by NLA) Occupancy (by NLA)	5,569 90.1%
	WALE (by income)	2.5 years

Major tenants (by gross income)

	Major tenants (by gross income)
	CSC Australia	44%
	State Mercantile	32%
	Chandler Macleod Services	22%

Expiry profile (by income)

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50(%)
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----- Start of picture text -----

43.0%
40
35.0%
30
23.0%
20
10
0 0.0% 0.0% 0.0%
Vacant FY19 FY20 FY21 FY22 FY23+
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Valuation summary

Valuation summary
Book value	$32.5m
Most recent independent valuation	$33.7m
Valuation date	30 November 2017
Valuer	Savills
Capitalisation rate (current)	7.50%

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149 Kerry Road Archerfield, QLD

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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, joining 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.

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 manoeuvring areas. The main facility was purpose built for BlueScope Steel (previously John Lysaght Australia) in 1991 and is in good condition.

Expiry profile (by income)

100	(%)					100.0%
80
60
40
20
0	0.0%	0.0%	0.0%	0.0%	0.0%
	Vacant	FY19	FY20	FY21	FY22	FY23+

Asset summary

Asset summary
Property type	Industrial
NABERS energy rating	N/A
Ownership interest	100%
Title	Freehold
Site area	44,340 sqm
Buildingconstructed	1991
Latest refurbishment	Periodic
Car park spaces	Multiple parkingbays

Tenancy summary

Tenancy summary
Net lettable area (by NLA)	13,774
Occupancy (by NLA)	100.0%
WALE (by income)	6.5 years
Major tenants (by gross income)
Bluescope Steel Limited	100%
Valuation summary
Book value	$28.1m
Most recent independent valuation	$27.3m
Valuation date	30 November 2017
Valuer	CBRE
Capitalisation rate (current)	6.25%

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Centuria Metropolitan REIT

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----- Start of picture text -----

Australian Capital Territory
10km
1
2
5km
CANBERRA
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Each circle represents 5km radius from the CBD area

Australian Capital Territory Portfolio

1 2

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

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60 Marcus Clarke Street Canberra, ACT

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Location

The property is located next to Centuria Metropolitan REIT’s 54 Marcus Clarke Street, in the western core of Canberra’s CBD. The property is directly opposite the Australian National University and within close proximity to the Australian Taxation Office, Department of Education and Department of Infrastructure.

Description

Also known as the St George Bank Building, 60 Marcus Clarke Street is a 13 level, multi-tenanted commercial office property featuring a ground floor foyer, including five retail tenancies and a combination of basement and deck car parking. The property recently underwent extensive capital works, which included the foyer, atrium, lift lobbies, new end of trip facilities and signage.

Asset summary

Asset summary
Property type	Offce
NABERS energy rating	3.5 stars
Ownership interest	100%
Title	Leasehold
Site area	3,847 sqm
Buildingconstructed	1986
Latest refurbishment	2016/2017
Car park spaces	133
Tenancy summary
Net lettable area (by NLA)	12,132
Occupancy (by NLA)	100.0%
WALE (by income)	2.4 years

Major tenants (by gross income)

Expiry profile (By Income)

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----- Start of picture text -----

40 (%)
36.0%
30
23.0%
20 21.0%
10 11.0% 8.0%
0.0%
0
Vacant FY19 FY20 FY21 FY22 FY23+
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Major tenants (by gross income)
St George Bank	13%
Aecom Australia	10%
Hays Specialists Recruitment	9%

Valuation summary

Valuation summary
Book value	$63.5m
Most recent independent valuation	$61.5m
Valuation date	30 June 2018
Valuer	Colliers
Capitalisation rate (current)	7.0%

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54 Marcus Clarke Street Canberra, ACT

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Location

The property is located next to Centuria Metropolitan REIT’s 60 Marcus Clarke Street, in the western core of Canberra’s CBD. The property is directly opposite the Australian National University and within close proximity to the Australian Taxation Office, Department of Education and Department of Infrastructure.

Description

54 Marcus Clarke Street is a multi-tenanted, mid-rise asset. Accommodation includes nine levels of office lettable area, ground floor retail and podium. The property has basement parking for 53 cars. The property recently underwent major capital works, which included the ground floor foyer, lift lobbies, signage and external paving.

Asset summary

Asset summary
Property type	Offce
NABERS energy rating	4.5 stars
Ownership interest	100%
Title	Leasehold
Site area	1,667 sqm
Buildingconstructed	1986
Latest refurbishment	2016/2017
Car park spaces	53
Tenancy summary
Net lettable area (by NLA)	5,169
Occupancy (by NLA)	100.0%
WALE (by income)	3.9 years

Major tenants (by gross income)

Expiry profile (by income)

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45 (%)
40 37.0%
35
30
25 25.0% 25.0%
20
15
10 7.0%
5 5.0%
0 0.0%
Vacant FY19 FY20 FY21 FY22 FY23+
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Major tenants (by gross income)
Marcus Clarke Chambers	12%
Clarity Financial Group	10%
SHL Developments	9%

Valuation summary

Valuation summary
Book value	$20.9m
Most recent independent valuation	$20.9m
Valuation date	30 June 2018
Valuer	Knight Frank
Capitalisation rate (current)	7.50%

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Centuria Metropolitan REIT

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Western Australia
1
2
15km 10km 5km PERTH
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Each circle represents 5km radius from the CBD area

Western Australia Portfolio

1 2

144 Stirling Street, Perth WA 42-46 Colin Street, West Perth WA

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144 Stirling Street Perth, WA

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Location

The property is located on Perth’s city fringe. The precinct has progressively transformed from light industrial to mixed use amenity, such as Telstra office complex, Australia Post Business Centre, Australian Nursing Federation and various high density residential developments. The property is situated some 500 metres south east of McIver Railway Station and 700 metres South West of Perth Railway Station.

Description

The property is an A-Grade office building, comprising four levels. The ground level office accommodation includes a foyer, café and provides connective access to the adjoining warehouse facility. Secure parking is available at the adjoining 130 Stirling Street, accommodating 240 tenant parking bays.

Asset summary

Asset summary
Property type	Offce
NABERS energy rating	4.5 stars
Ownership interest	100%
Title	Freehold
Site area	5,057 sqm
Buildingconstructed	1970’s
Latest refurbishment	2001
Car park spaces	240

Tenancy summary

Tenancy summary
Net lettable area (by NLA)	11,042
Occupancy (by NLA)	100.0%
WALE (by income)	2.9 years

Major tenants (by gross income)

Major tenants (by gross income)
Minister for Works (WA Police)1	46%
Hatch	45%

Expiry profile (by income)

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60 (%)
51.0%
46.0%
40
20
0 1.0% 0.0% 0.0% 3.0%
Vacant FY19 FY20 FY21 FY22 FY23+
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Valuation summary

Valuation summary
Book value	$56.0m
Most recent independent valuation	$55.3m
Valuation date	30 November 2017
Valuer	CBRE
Capitalisation rate (current)	7.50%

1) Includes space that WA police subleases from Hatch

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42-46 Colin Street West Perth, WA

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Location

The property is located within the prime commerical and residential suburb of West Perth, within the local government administered by the City of Perth, approximately 1.3 kilometres west of the Perth Central Business District (CBD). Specifically the subject is situated on the eastern side of Colin Street and being 400 metres from the intersection of Kings Park Road.

Description

The property is a modern, A-grade commercial office building bearing close proximity to the Western Australia parliamentary precinct. The building comprises five levels and is well serviced by free public transport and contains substantial end of trip facilities and is currently undergoing an amenities upgrade. The major tenant Insurance Australia Group (IAG:ASX) currently occupies four levels.

Expiry profile (by income)

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----- Start of picture text -----

100 (%)
91.0%
80
60
40
20
6.0%
0 0.0% 3.0% 0.0% 0.0%
Vacant FY19 FY20 FY21 FY22 FY23+
----- End of picture text -----

Asset summary

Asset summary
Property type	Offce
NABERS energy rating	3.5 stars
Ownership interest	100%
Title	Leasehold
Site area	5,147 sqm
Buildingconstructed	2002
Latest refurbishment	2017
Car park spaces	145
Tenancy summary
Net lettable area (by NLA)	8,439
Occupancy (by NLA)	100.0%
WALE (by income)	4.6 years
Major tenants (by gross income)
IAG Group	83%
BBI Group	7%
Valuation summary
Book value	$34.5m
Most recent independent valuation	$33.6m
Valuation date	30 November 2017
Valuer	Savills
Capitalisation rate (current)	7.50%

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Centuria Metropolitan REIT

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South Australia
15km
10km
5km
2
ADELAIDE
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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1 Richmond Road Keswick, SA

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Location

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

Description

1 Richmond Road, Keswick is a five level office building featuring on-grade parking for 326 vehicles. External and common area upgrades have been recently completed in 2016, which has greatly assisted in improving market rents and mitigating the leasing risk associated with the property now 100% occupied following a major government tenant vacating in 2016. There is a development approval to build office space to the rear of the site.

Expiry profile (By Income)

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----- Start of picture text -----

60 (%) 56.0%
50
44.0%
40
30
20
10
0 0.0% 0.0% 0.0% 0.0%
Vacant FY19 FY20 FY21 FY22 FY23+
----- End of picture text -----

Asset summary

Asset summary
Property type	Offce
NABERS energy rating	3.5 stars
Ownership interest	100%
Title	Freehold
Site area	19,310 sqm
Buildingconstructed	1985
Latest refurbishment	2016
Car park spaces	326
Tenancy summary
Net lettable area (by NLA)	8,087
Occupancy (by NLA)	100.0%
WALE (by income)	5.0 years
Major tenants (by gross income)
Royal District NursingService	44%
SA Power Networks	27%
Naval Group Australia Pty Limited	28%

Valuation summary

Valuation summary
Book value	$33.0m
Most recent independent valuation	$33.0m
Valuation date	30 June 2018
Valuer	JLL
Capitalisation rate (current)	7.50%

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131-139 Grenfell Street Adelaide, SA

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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.

Description

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

Expiry profile (by income)

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----- Start of picture text -----

100 (%) 100.0%
80
60
40
20
0 0.0% 0.0% 0.0% 0.0% 0.0%
Vacant FY19 FY20 FY21 FY22 FY23+
----- End of picture text -----

Asset summary

Asset summary
Property type	Offce
NABERS energy rating	4.5 stars
Ownership interest	100%
Title	Leasehold
Site area	1,253 sqm
Buildingconstructed	2009
Latest refurbishment	N/A
Car park spaces	10
Tenancy summary
Net lettable area (by NLA)	4,052
Occupancy (by NLA)	100.0%
WALE (by income)	1.4 years
Major tenants (by gross income)
Minister for Infrastructure	100%
Valuation summary
Book value	$19.3m
Most recent independent valuation	$19.3m
Valuation date	30 November 2017
Valuer	Savills
Capitalisation rate (current)	8.00%

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Centuria Metropolitan REIT

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9 HELP STREET, CHATSWOOD NSW
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FURTHER INFORMATION

Doug Hoskins

ACTING FUND MANAGER – CMA +61 2 8923 8923

Tim Mitchell

GROUP HEAD OF INVESTOR RELATIONS +61 2 8923 8923

CENTURIA.COM.AU/METROPOLITAN-REIT/HOME

CENTURIA METROPOLITAN REIT I ASX: CMA I FY18 PROPERTY COMPENDIUM

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