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CHARTER HALL GROUP — Annual Report 2012
Aug 27, 2012
64645_rns_2012-08-27_aaef6bd7-9fe8-478d-9ffa-83b3ef66dadc.pdf
Annual Report
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Charter Hall Group Property Portfolio 30 June 2012
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| Charter Hall Group 4 Corporate Structure 5 Our Funds 6 Listed REIT Charter Hall Retail REIT 10 Unlisted Wholesale Funds Charter Hall Direct Retail Fund (DRF) 22 Charter Hall Offce Trust (CHOT) 30 Core Plus Offce Fund (CPOF) 44 Core Plus Industrial Fund (CPIF) 56 Charter Hall Opportunity Fund No.4 (CHOF4) 70 Charter Hall Opportunity Fund No.5 (CHOF5) 72 Unlisted Retail Funds Direct Property Fund (CHDPF) 78 Diversifed Property Fund (DPF) 88 Direct Industrial Fund (DIF) 95 130 Stirling Street (CHIF7) 102 144 Stirling Street (CHIF8) 104 No. 1 Martin Place Trust (1MPT) 106 685 LaTrobe Street Melbourne 108 Index 110 Further Information 115 |
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|---|---|
Cover: Citi Centre, 2 Market Street, Sydney NSW
2 | Charter hall ProPerty PortFolIo June 2012
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occupancy[1] 98%
Funds under Management (FuM) as at 30 June 2012 bn $8.9
Weighted average lease expiry (Wale)[1] 6.2 years
Development Book and Pipeline bn $1.4
Weighted average rental review[1] 3.9%
Allianz Centre, 2 Market Street, Sydney NSW
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We manage around $9 billion of property located predominantly within Australia and focused on the core real estate sectors; office, retail and industrial. We are the largest third party manager of Australian office and grocery anchored retail centre assets, and have the third largest managed industrial property portfolio.
We believe sustainability is a key element to good business and that by ensuring our actions are not only commercially sound but that they make a difference to our people, our customers and the environment in which we work and live, we can contribute in a positive way.
As an integrated property group, our 260 property specialists deliver professional services across the full property spectrum from investment management to property management to development.
As at 30 June 2012
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Total Office Retail Industrial Other [1]
No. of properties 170 47 94 29 n/a
NLA (sqm) 2,129,630sqm 810,221sqm 793,794sqm 525,616sqm n/a
Value ($bn) $8.9 $5.2 $2.5 $0.8 $0.4
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Other 5%
Industrial 9%
Retail 27%
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Office 63%
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4 | CHARTeR HALL PRoPeRTy PoRTFoLIo JUNe 2012
Charter Hall Group (ASX:CHC)
Stapled Security
Charter Hall Property Trust (CHPT)
Charter Hall Limited (CHL)
Property Investment
1
Total co-investments: $530 million (67%) EBITDA: $39.9m (61%)
Funds Management
1
Book Value: $99 million (12%) EBITDA: $23.3m (36%)
Development Investment
Total co-investments: $67m (8%)1 EBITDA: $2.0m (3%)
$101m co-investment
Listed Fund $2.0bn FUM
$314m co-investment
Wholesale Unlisted Funds $5.4bn FUM
$115m co-investment
Retail Investor Funds $1.5bn FUM
$99m book value (intangible)2
Investment Management Asset Management Property Management
Development Management
Leasing Services
Transaction Services
$28m investment
CIP
50% interest
$29m co-investment
Wholesale Opportunistic Investments in CHOF4 and CHOF5
$10m investment
685 LaTrobe 50% interest
Charter hall aims to outperform investment benchmarks, achieving high levels of tenant retention and rental growth across 170 assets.
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Listed REIT
Charter Hall Retail REIT (ASX:CQR)
Assets 91 Property value $1,978 million Balance sheet gearing 40.4% WALE (all tenancies) 6.5 years Occupancy 97.9% Charter Hall co-investment $101.3 million (10.0%)
Unlisted Wholesale Funds
Direct Retail Fund (DRF)
Assets 5 Gross asset value $156 million Look-through gearing 35%-45% target WALE 5.5 years Occupancy 99% Charter Hall co-investment $53.1 million (66%)
Charter Hall Office Trust (CHOT)
Assets 18 Gross asset value $1,876 million Look-through gearing 43.8% Capitalisation Rate 7.79% WALE 4.3 years Occupancy 98% Charter Hall co-investment $145.7 million (15.0%)
Core Plus Office Fund (CPOF)
Assets 13 Gross asset value $1,534 million Look-through gearing 37.7% Capitalisation Rate 7.86% WALE 5.5 years Occupancy 97.8% Charter Hall co-investment $113.0 million (13.9%)
Core Plus Industrial Fund (CPIF)
Assets 18 Gross asset value $592 million Look-through gearing 34.3% Capitalisation Rate 8.21% WALE 11.5years Occupancy 97.7% Charter Hall co-investment $54.9 million (18%)
Charter Hall Opportunity Fund No.4 (CHOF4)
Asset 1 Gross asset value $89.5 million Charter Hall Investment 3%
Charter Hall Opportunity Fund No.5 (CHOF5)
Assets 6 Gross asset value $524 million Charter Hall Investment 15%
333 George Street, Sydney NSW
6 | Charter hall ProPerty PortFolIo June 2012
Unlisted Retail Funds
Direct Property Fund (CHDPF)
| Assets | 8 |
|---|---|
| Gross asset value | $510 million |
| Look-through gearing | 43% |
| Capitalisation Rate | 8.35% |
| WALE | 4.3 years |
| Occupancy | 97% |
| Charter Hall co-investment $10.8million (3.8%) | |
| ersifed Property Fund (DPF) | |
| Assets | 6 |
| Gross asset value | $101 million |
| Look-through gearing | 52.2% |
| Capitalisation Rate | 8.39% |
| WALE | 6.2 years |
| Occupancy | 97% |
| Charter Hall co-investment $11.7 million (25.2%) | |
| arter Hall Umbrella Fund | (CHUF)1 |
| Assets | > 50 |
| Gross asset value | $139 million |
| Look-through gearing | 38% |
| WALE | 7.6 years |
| Occupancy | 98% |
| Charter Hall co-investment $39.5 million (25.6%) | |
| ect Industrial Fund (DIF) | |
| Assets | 5 |
| Gross asset value | $141 million |
| Look-through gearing | 35%-45% target |
| Capitalisation Rate | 8.08% |
| WALE | 12.6 years |
| Occupancy | 100% |
| Charter Hall co-investment | $0.2million (0.2%) |
Diversified Property Fund (DPF)
Charter Hall Umbrella Fund (CHUF)[1]
Direct Industrial Fund (DIF)
130 Stirling Street (CHIF7)
| 130 Stirling Street (CHIF7) | |
|---|---|
| Assets | 1 |
| Gross asset value | $83 million |
| Gearing | 40.9% |
| Capitalisation Rate | 8.25% |
| WALE | 6.7 years |
| Occupancy | 100% |
| 144 Stirling Street (CHIF8) | |
| Asset | 1 |
| Gross asset value | $54.8 million |
| Gearing | 45% |
| Capitalisation Rate | 8.50% |
| WALE | 7.7 years |
| Occupancy | 100% |
| No.1 Martin Place Trust (1MPT) | |
| Assets | 1 |
| Gross asset value | $213 million |
| Gearing | 36% |
| Capitalisation Rate | 6.70% |
| WALE | 2.8 years |
| Occupancy | 93% |
| Charter Hall Investment Funds (CHIF) 2-62 | |
| Assets | 6 |
| Gross asset value | $93.9 million |
| WALE | 3.4 years |
| Occupancy | 100% |
note:
1.these funds are not a direct owner of property assets 2. aggregated across the various Funds
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Listed REIT
8 | ChaRTER haLL PRoPERTy PoRTFoLIo JunE 2012
Windsor Marketplace, Windsor NSW
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Sydney Street Markets, Mackay Qld
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10 | Charter hall ProPerty PortFolIo June 2012
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Charter Hall Retail REIT
Charter Hall Retail REIT is a specialist REIT with over 16 years track record of owning and managing Australian retail properties.
With an active management strategy focused on maximising total returns, the REIT aims to deliver strong performance across its quality portfolio of grocery anchored shopping centres.
Australian Portfolio Statistics
Tenants
> 2% of total australian Base rent
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Woolworths 29%
Coles Group 23%
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Annual lease expiry
By annual Base rent
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FY13 11%
FY14 12%
FY15 11%
FY16 7%
FY17 10%
FY18 6%
FY19 3%
FY20 5%
FY21+ 35%
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CQR Portfolio Summary
| CQR Portfolio Summary | ||
|---|---|---|
| AUSTRALIA | NON-CORE OFFSHORE PORTFOLIO | |
| Number of properties 74 17 |
||
| Gross lettable area (CQR share, ‘000sqm) 464.4 214.4 |
||
| Valuation (CQR share, $m) 1,554.8 422.7 |
||
| NTA per unit ($) 3.06 0.32 |
||
| Proportion of NTA 91% 9% |
||
| Operational performance metrics | ||
| Same property NOI growth 3.5% -0.3% |
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| Occupancy 98.6% 96.7% |
||
| Rental rate growth 4.9% -2.3% |
||
| Portfolio WALE (years) 7.3 3.4 |
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Charter hall retaIl reIt | 11
Charter Hall Retail REIT
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Pemulwuy Marketplace, Pemulwuy NSW
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12 | Charter hall ProPerty PortFolIo June 2012
Charter Hall Retail REIT
New South Wales
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Windsor Marketplace, Windsor
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| suMMary | |||
|---|---|---|---|
| number of properties | 31 | ||
| number of tenancies | 687 | ||
| total gla (sqm) ValuatIon |
160,956 | ||
| Valuation | $614.9 million | ||
| Value ($/sqm) | $3,821 | ||
| Capitalisation rate | 8.06% | ||
| Discount rate tenanCy statIstICs |
9.58% | ||
| Wale (by income) | 8.9 years | ||
| occupancy MaJor tenants |
98.3% aBr1ContrIButIon (%) |
||
| Woolworths | 29.0% | ||
| Coles | 17.6% | ||
| BigW | 5.6% | ||
| target Country | 2.7% | ||
| harvey norman | 1.5% | ||
| ProPerty oWnershIP (%) | ClassIFICatIon | ||
| Bathurst Chase, Bathurst | 100% | neighbourhood | |
| Cooma Woolworths, Cooma | 100% | Freestander | |
| Cootamundra Woolworths, Cootamundra |
100% | Freestander | |
| earlwood Coles, earlwood | 100% | Freestander | |
| Pemulwuy Marketplace, greystanes | 50% | neighbourhood | |
| Mackenzie Mall, glen Innes | 100% | neighbourhood |
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Bathurst Chase, Bathurst
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| ProPerty oWnershIP (%) | ProPerty oWnershIP (%) | ClassIFICatIon |
|---|---|---|
| goonellabah Village, goonellabah | 100% | neighbourhood |
| gordon Village Centre, gordon | 100% | neighbourhood |
| Carnes hill Marketplace, horningsea Park |
50% | sub-regional |
| Jerrabomberra Village, Jerrabomberra | 100% | neighbourhood |
| Kings langley shopping Centre, Kings langley |
100% | neighbourhood |
| highlands Marketplace, Mittagong | 50% | sub-regional |
| Balo square, Moree | 100% | neighbourhood |
| Morisset shoppingCentre, Morisset | 100% | neighbourhood |
| lake Macquarie Fair, Mount hutton | 50% | sub-regional |
| Mount hutton Plaza, Mount hutton | 50% | neighbourhood |
| Mudgee Metroplaza, Mudgee | 100% | neighbourhood |
| sunnyside Mall, Murwillumbah | 100% | neighbourhood |
| narrabri Coles, narrabri | 100% | Freestander |
| Kierath’s shopping square, narromine |
100% | neighbourhood |
| orange Central, orange | 100% | neighbourhood |
| Parkes Metroplaza, Parkes | 100% | neighbourhood |
| rosehill Woolworths, rosehill | 100% | Freestander |
| rutherford Marketplace, rutherford | 50% | neighbourhood |
| gowrie street Mall, singleton | 100% | sub-regional |
| thornleigh Marketplace, thornleigh | 50% | neighbourhood |
| tumut Coles, tumut | 100% | Freestander |
| Wellington Coles, Wellington | 100% | Freestander |
| West ryde Marketplace, West ryde | 50% | neighbourhood |
| Windsor Marketplace, Windsor | 50% | neighbourhood |
| youngWoolworths | 100% | Freestander |
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note: 1. annual Base rent
Charter hall retaIl reIt | 13
Charter Hall Retail REIT
Victoria
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Pakington strand, geelong West
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suMMary
number of properties 9
number of tenancies 134
total gla (sqm) 56,909
ValuatIon
Valuation $134.7 million
Value ($/sqm) $2,366
Capitalisation rate 8.57%
Discount rate 9.82%
ProPerty oWnershIP (%) ClassIFICatIon
Bairnsdale Coles, Bairnsdale 100% Freestander
lansell Plaza, Bendigo 100% sub-regional
Pakington strand, geelong West 50% neighbourhood
safeway Kerang, Kerang 100% Freestander
Kyneton shopping Centre, Kyneton 100% neighbourhood
olive tree shopping Centre,
100% neighbourhood
lilydale
Moe Coles, Moe 100% Freestander
Moe Kmart, Moe 100% Freestander
home hQ nunawading,
50% household retail
nunawading
tenanCy statIstICs
Wale (by income) 5.7 years
occupancy 99.1%
MaJor tenants aBr ContrIButIon (%)
Woolworths 20.7%
Coles 14.7%
Kmart 9.9%
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Queensland
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Bribie Island shopping Centre, Bribie Island
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suMMary
number of properties 14
number of tenancies 379
total gla (sqm) 94,491
ValuatIon
Valuation $347.7 million
Value ($/sqm) $3,677
Capitalisation rate 8.27%
Discount rate 9.55%
ProPerty oWnershIP (%) ClassIFICatIon
albany Creek shopping Centre,
100% neighbourhood
albany Creek
tablelands Village, atherton 100% neighbourhood
Bribie Island shopping Centre,
100% sub-regional
Bribie Island
Caboolture Park shopping
100% sub-regional
Centre, Caboolture
Currimundi Markets, Currimundi 100% neighbourhood
gatton Plaza, gatton 100% neighbourhood
gladstone shopping Centre,
50% neighbourhood
gladstone
Bay Plaza, hervey Bay 100% neighbourhood
Kallangur Fair, Kallangur 100% neighbourhood
sydney street Markets, Mackay 100% neighbourhood
Mareeba Plaza, Mareeba 100% neighbourhood
Moranbah Fair, Moranbah 100% neighbourhood
allenstown Plaza, rockhampton 100% neighbourhood
Springfield Fair, Springfield 100% neighbourhood
tenanCy statIstICs
Wale (by income) 6.1 years
occupancy 98.8%
MaJor tenants aBr ContrIButIon (%)
Woolworths 21.1%
Coles 20.0%
Kmart 3.5%
target Country 3.3%
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14 | Charter hall ProPerty PortFolIo June 2012
South Australia
Western Australia
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Wharflands Plaza, Port Augusta
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suMMary
number of properties 3
number of tenancies 68
total gla (sqm) 43,943
ValuatIon
Valuation $94.5 million
Value ($/sqm) $2,151
Capitalisation rate 9.07%
Discount rate 9.69%
ProPerty oWnershIP (%) ClassIFICatIon
Mile end homemarker Centre,
100% household retail
Mile end
Wharflands Plaza, Port Augusta 100% sub-regional
renmark Plaza, renmark 100% sub-regional
tenanCy statIstICs
Wale (by income) 5.4 years
occupancy 99.4%
MaJor tenants aBr ContrIButIon (%)
Big W 17.7%
Woolworths 16.2%
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Wanneroo Central, Wanneroo
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suMMary
number of properties 11
number of tenancies 258
total gla (sqm) 84,478
ValuatIon
Valuation $249.9 million
Value ($/sqm) $2,959
Capitalisation rate 8.01%
Discount rate 9.64%
ProPerty oWnershIP (%) ClassIFICatIon
albany Plaza, albany 100% sub-regional
Ballajura Central , Ballajura 100% neighbourhood
Carnarvon Central, Carnarvon 100% neighbourhood
Collie Central, Collie 100% neighbourhood
esperance Boulevard, esperance 100% neighbourhood
Kalgoorlie Central, Kalgoorlie 100% neighbourhood
Maylands Coles, Maylands 100% Freestander
narrogin Coles, narrogin 100% Freestander
south hedland shopping Centre,
100% sub-regional
south hedland
swan View shopping Centre,
100% neighbourhood
swan View
Wanneroo Central, Wanneroo 50% sub-regional
tenanCy statIstICs
Wale (by income) 6.2 years
occupancy 98.8%
MaJor tenants aBr ContrIButIon (%)
Woolworths 16.7%
Coles 16.7%
Kmart 9.5%
target Country 4.3%
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- under contract for sale
Charter hall retaIl reIt | 15
Charter Hall Retail REIT
ACT
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erindale shopping Centre, Wanniassa
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suMMary
number of properties 3
number of tenancies 67
total gla (sqm) 17,145
ValuatIon
Valuation $90.3 million
Value ($/sqm) $5,266
Capitalisation rate 7.61%
Discount rate 9.20%
ProPerty oWnershIP (%) ClassIFICatIon
Dickson Woolworths, Dickson 100% Freestander
Manuka terrace, Manuka 100% neighbourhood
erindale shopping Centre,
100% neighbourhood
Wanniassa
tenanCy statIstICs
Wale (by income) 8.1 years
occupancy 96.0%
MaJor tenants aBr ContrIButIon (%)
Woolworths 28.7%
Coles 16.8%
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Tasmania
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newstead Coles, newstead
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suMMary
number of properties 3
number of tenancies 4
total gla (sqm) 6,446
ValuatIon
Valuation $23.0 million
Value ($/sqm) $3,568
Capitalisation rate 7.34%
Discount rate n/a
ProPerty oWnershIP (%) ClassIFICatIon
newstead Coles, newstead 100% Freestander
smithton Woolworths, smithton 100% Freestander
Wynyard Woolworths, Wynyard 100% Freestander
tenanCy statIstICs
Wale (by income) 9.4 years
occupancy 100%
MaJor tenants aBr ContrIButIon (%)
Woolworths 62.9%
Coles 34.8%
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16 | Charter hall ProPerty PortFolIo June 2012
Non-core offshore portfolio
Poland
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Dabrowka, Katowice
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suMMary
number of properties 5
number of tenancies 350
total gla (sqm) 65,081
ValuatIon
Valuation €192.0 million
Value (€/sqm) €2,949
Capitalisation rate 9.14%
Discount rate 8.56%
ProPerty oWnershIP (%)
arena, gliwice 100%
Borek, Wroclaw 100%
Dabrowka, Katowice 100%
turzyn, szczecin 100%
Zakopianka, Krakow 100%
tenanCy statIstICs
Wale (by income) 3.3 years
occupancy 96.7%
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Germany
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alt Chemnitz Center, Chemnitz
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suMMary
number of properties 2
number of tenancies 94
total gla (sqm) 97,147
ValuatIon
Valuation €88.1 million
Value (€/sqm) €907
Capitalisation rate 8.41%
Discount rate 7.24%
ProPerty oWnershIP (%)
alt Chemnitz Center, Chemnitz 100%
Burgaupark Jena, Jena 100%
tenanCy statIstICs
Wale (by income) 2.5 years
occupancy 98.1%
MaJor tenants aBr ContrIButIon (%)
toom (Jena) 58.4%
toom (Chemnitz) 11.6%
selgros 10.5%
Mobel Walther ag 10.4%
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*includes master lease
Charter hall retaIl reIt | 17
Charter Hall Retail REIT
Non-core offshore portfolio
New Zealand
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Countdown, Beckenham
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| suMMary | |
|---|---|
| number of properties* | 2 |
| number of tenancies | 2 |
| total gla (sqm) ValuatIon |
3,561 |
| Valuation | nZ$8.2 million |
| ownership | 50% |
United States
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Murray landing, south Carolina
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| suMMary | |
|---|---|
| number of properties | 8 |
| number of tenancies | 122 |
| total gla (sqm) ValuatIon |
48,617 |
| Valuation ProPerty |
us$71.6 million oWnershIP (%) |
| hilltop Village, Colorado | 75% |
| Kleinwood Center, texas | 75% |
| Murray landing, south Carolina | 75% |
| Vineyard shoppingCenter, Florida | 75% |
| Centennial Crossroads Plaza, nevada | 100% |
| northlake Promenade, georgia* | 100% |
| Powers Ferry Kroger, georgia* | 100% |
| Woodstock Crossing, georgia | 100% |
- under contract for sale
18 | Charter hall ProPerty PortFolIo June 2012
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Thornleigh Marketplace, Thornleigh NSW
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Charter hall retaIl reIt | 19
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unlisted Wholesale Funds
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24 Muir Road, Chullora NSW
20 | Charter hall ProPerty PortFolIo June 2012
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unlIsteD Wholesale FunDs | 21
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Menai Central, Menai NSW
22 | Charter hall ProPerty PortFolIo June 2012
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Charter Hall Direct Retail Fund
Charter Hall’s Direct Retail Fund (DRF) invests directly in quality retail properties with a property portfolio of five retail shopping centres located in established markets in New South Wales, Victoria and Queensland.
Fund Statistics
Top 10 tenants By gross income
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Woolworths Supermarkets, 12%
Big W, Dan Murphy’s
Coles Supermarkets, 12%
Bunnings Warehouse
John Wiley & Sons 7%
Fantastic Furniture 5%
Spotlight 3%
Franklins Supermarkets 3%
Bev Mark Beds 3%
Goodlife Gyms 3%
Trade Secret 3%
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Annual lease expiry
By gross income
| By gross income | |||
|---|---|---|---|
| Vacant | 0% | ||
| FY13 | 9% | ||
| FY14 | 7% | ||
| FY15 | 9% | ||
| FY16 | 8% | ||
| FY17 | 21% | ||
| FY18 | 3% | ||
| FY19 | 20% | ||
| FY20 | 9% | ||
| FY21+ | 14% |
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Charter hall DIreCt retaIl FunD | 23
Fund Statistics
Rent review split over next 12 months
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Market 1%
CPI 16% Fixed 83%
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Tenant contribution By passing income
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John Wiley & Sons 5%
Other specialties 23%
National retailers [1 ] 72%
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note
- national retailers include Woolworths group, Wesfarmers (Coles and Bunnings), Franklins, Iga, KFC, Bakers Delight, JB hiFi and national Banks.
Sector diversification By gross income
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Freestander 4.5% Household retail 40.1%
Hardware 6.5%
Neighbourhood 21.8%
Sub regional 27.1%
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24 | Charter hall ProPerty PortFolIo June 2012
Property Portfolio
June 2012 Capitalisation rate June 2012 Discount rate 8.55% 9.80%
June 2012 Discount rate
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DRF JuN 2012 WALE WEIGHTED ANNuAL
OwNERSHIP (%) VALuATION (A$M) (yEARS) RENT REVIEwS (%)
Lake Macquarie,
50% 35.2 6.2 4.44%
newcastle nsW
Menai Central,
100% 35.0 4.7 2.70%
sydney nsW
Home HQ Nunawading,
50% 27.5 4.7 3.58%
Melbourne Vic
Bunnings Warehouse Stafford,
100% 30.7 7.0 3.41%
Brisbane Qld
Home HQ Ipswich,
100% 24.5 5.1 3.56%
Ipswich Qld
TOTAl/WEIGHTED
152.9 5.5 3.55%
AVERAGE
----- End of picture text -----
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Charter hall DIreCt retaIl FunD | 25
Lake Macquarie Fair, Newcastle NSW
26 | Charter hall ProPerty PortFolIo June 2012
Charter Hall Direct Retail Fund
lake Macquarie Fair newcastle nsW
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lake Macquarie is a sub-regional shopping centre which dominates its primary catchment area of Mount hutton and surrounding suburbs with on-site parking. Mount hutton is an established suburb of newcastle located approximately 15 kilometres southwest of the city’s CBD. the property comprises lake Macquarie Fair and Mount hutton shopping Centre.
==> picture [260 x 258] intentionally omitted <==
----- Start of picture text -----
suMMary
year built (or refurbished) 1985 (refurbished in 2007)
Classification sub-regional
ownership 50%
total nla (sqm) 21,548
Car spaces > 1,100
ValuatIon (30 June 2012 BooK Value)
Valuation (50%) $35.2 million
Value ($/sqm) $3,270
last external valuation date 31 December 2011
Valuer Jones lang lasalle
tenanCy statIstICs
Wale (by income) 6.2 years
occupancy 98.3%
MaJor tenants nla (sQM)
Big W 6,305
Woolworths supermarket 4,165
Coles 3,087
----- End of picture text -----
Menai Central sydney nsW
==> picture [258 x 143] intentionally omitted <==
Menai Central is a modern neighbourhood shopping centre comprising six separate buildings. Menai is an established residential neighbourhood located within the sutherland shire local government area, approximately 28 kilometres south of the sydney CBD.
==> picture [260 x 259] intentionally omitted <==
----- Start of picture text -----
suMMary
year built (or refurbished) 2002
Classification neighbourhood
ownership 100%
total nla (sqm) 10,799
Car spaces 275
ValuatIon (30 June 2012 BooK Value)
Valuation $35.0 million
Value ($/sqm) $3,241
last external valuation date 30 June 2011
Valuer Cushman & Wakefield
tenanCy statIstICs
Wale (by income) 4.7 years
occupancy 100%
MaJor tenants nla (sQM)
goodlife gym 1,839
Franklin supermarkets 1,617
Dan Murphy’s 1,548
----- End of picture text -----
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Charter hall DIreCt retaIl FunD | 27
Charter Hall Direct Retail Fund
Home HQ Nunawading Melbourne Vic
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home hQ nunawading is a modern two-level household retail centre located on Whitehorse road in nunawading, approximately 25 kilometres east of the Melbourne CBD.
==> picture [260 x 258] intentionally omitted <==
----- Start of picture text -----
suMMary
year built (or refurbished) 2007
Classification household retail
ownership 50%
total nla (sqm) 22,871
Car spaces 417
ValuatIon (30 June 2012 BooK Value)
Valuation (50%) $27.5 million
Value ($/sqm) $2,405
last external valuation date 31 December 2011
Valuer m3 property
tenanCy statIstICs
Wale (by income) 4.7 years
occupancy 100%
MaJor tenants nla (sQM)
the good guys 3,443
Bev Marks Beds 3,359
nick scali Furniture 2,667
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Bunnings Warehouse Stafford Brisbane Qld
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this property is located on stafford road within the stafford household retail area, approximately nine kilometres from the Brisbane CBD. the property comprises a Bunnings Warehouse with on-site parking, plus an adjoining site with two warehouse facilities leased to John Wiley & sons, a new york exchange listed publishing company.
==> picture [260 x 244] intentionally omitted <==
----- Start of picture text -----
suMMary
year built (or refurbished) 2005
Classification household retail
ownership 100%
total nla (sqm) 22,172
Car spaces 519
ValuatIon (30 June 2012 BooK Value)
Valuation $30.7 million
Value ($/sqm) $1,385
last external valuation date 31 December 2011
Valuer savills
tenanCy statIstICs
Wale (by income) 7.0 years
occupancy 100%
MaJor tenants nla (sQM)
Bunnings Warehouse 12,905
John Wiley & sons 9,267
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28 | Charter hall ProPerty PortFolIo June 2012
Home HQ Ipswich Ipswich Qld
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home hQ Ipswich is a newly-built household retail centre that was completed in 2009. the property is located close by to the Ipswich CBD and approximately 30 kilometres south-west of the Brisbane CBD on a major transport corridor within a growing residential catchment area.
==> picture [260 x 244] intentionally omitted <==
----- Start of picture text -----
suMMary
year built (or refurbished) 2009
Classification household retail
ownership 100%
total nla (sqm) 12,903
Car spaces 257
ValuatIon (30 June 2012 BooK Value)
Valuation $24.5 million
Value ($/sqm) $1,899
last external valuation date 31 December 2011
Valuer DtZ
tenanCy statIstICs
Wale (by income) 5.1 years
occupancy 100%
MaJor tenants nla (sQM)
Fantastic Furniture 3,696
spotlight 3,229
----- End of picture text -----
Home HQ Ipswich, Ipswich Qld
==> picture [268 x 31] intentionally omitted <==
175 Eagle Street, Brisbane Qld
30 | Charter hall ProPerty PortFolIo June 201230 | Charter hall ProPerty PortFolIo June 2012
Charter Hall Office Trust
Charter Hall Office Trust is a leading unlisted wholesale real estate investment fund focused on investing in high grade office buildings predominantly located in major business districts across Australia.
Austraila Portfolio Statistics
Top 10 tenants
By gross income
==> picture [405 x 223] intentionally omitted <==
----- Start of picture text -----
Australian Government 19%
Macquarie Group Ltd 10%
Telstra Corporation Ltd 8%
Citigroup 6%
Allianz 4%
Credit Union Australia Ltd 3%
Wilson Parking 2%
Gilbert & Tobin 2%
Mediacom 2%
Caltex 2%
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Annual lease expiry By net lettable area
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----- Start of picture text -----
Vacant 2%
FY13 7%
FY14 8%
FY15 27%
FY16 11%
FY17+ 45%
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Charter hall oFFICe trust | 31
Fund Statistics
Asset diversification
By current value
==> picture [465 x 201] intentionally omitted <==
----- Start of picture text -----
171 Collins Street, Melbourne 2% ATO Moonee Ponds 4%
5 Queens Road, St Kilda Road 4%
Argus Centre, Melbourne 8%
2 Park Street, Sydney 19%
150 Lonsdale Street, Melbourne 7%
Australia Place, Canberra 2%
175 Eagle Street, Brisbane 7%
No.1 Martin Place, Sydney 11%
Capital Hill, Brisbane 3%
Eastpoint Plaza, Perth 3%
2 Market Street, Sydney 9%
ATO, Newcastle 3%
59 Goulburn Street, Sydney 5%
The Denison, North Sydney 4%
Wentworth Place, Parramatta 1%
Charter Grove, St Leonards 4% Avaya House, Macquarie Park 4%
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Tenant type diversification By gross income
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----- Start of picture text -----
Investment grade 64%
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==> picture [243 x 143] intentionally omitted <==
----- Start of picture text -----
Government 21%
Other 15%
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NABERS Energy rating (with GreenPower)
| naBers energy ratIng | |
|---|---|
| 2 Park street, sydney | |
| no.1 Martin Place, sydney | |
| 2 Market street, sydney (tower) | |
| 2 Market street, sydney (forecourt) | |
| 59 goulburn street, sydney | |
| the Denison, north sydney | |
| nCr house, north sydney | |
| Charter grove, st leonards | |
| 123 epping road, north ryde | |
| Wentworth Place, Parramatta | |
| naBers energy ratIng | |
|---|---|
| ato, newcastle | |
| 150 lonsdale street, Melbourne | |
| argus Centre, Melbourne | |
| 5 Queens road, st Kilda | |
| ato, Moonee Ponds | |
| 175 eagle street, Brisbane | |
| Capital hill, Brisbane | |
| eastpoint Plaza, Perth | |
| australia Place, Canberra | |
32 | Charter hall ProPerty PortFolIo June 2012
Property Portfolio
June 2012 Capitalisation rate
7.79%
June 2012 Discount rate
9.31%
==> picture [541 x 553] intentionally omitted <==
----- Start of picture text -----
CQO JuN 2012 WALE WEIGHTED AVG RENT
OwNERSHIP % BOOk VALuE A$M (yEARS) REVIEwS (%)
2 Park Street
50% 362.6 3.5 3.93%
sydney nsW
No. 1 Martin Place
50% 212.5 2.8 4.50%
sydney nsW
2 Market Street
50% 171.1 6.0 4.10%
sydney nsW
59 Goulburn Street
100% 88.7 3.3 4.03%
sydney nsW
The Denison 65 Berry street,
100% 80.2 5.4 4.09%
north sydney nsW
Charter Grove 29-57 Christie
100% 82.6 4.7 4.18%
street, st leonards nsW
Avaya House 123 epping
100% 74.1 3.6 3.75%
road, north ryde nsW
Wentworth Place 9 Wentworth
100% 23.3 1.2 4.21%
street Parramatta nsW
ATO 266 King street,
100% 50.0 4.8 3.50%
newcastle nsW
Argus Centre 300 latrobe
100% 151.6 10.2 3.59%
street, Melbourne Vic
150 lonsdale Street
100% 132.8 2.9 3.59%
Melbourne Vic
171 Collins Street Melbourne
50% 42.0 n/a n/a
Vic (Development site)
5 Queens Road
100% 65.6 3.5 3.77%
Melbourne Vic
ATO Moonee Ponds 6-20
100% 80.1 7.7 6.85%
gladstone street, Melbourne Vic
175 Eagle Street
100% 121.5 3.5 4.17%
Brisbane Qld
Capital Hill 83-85 george
100% 51.1 3.8 3.49%
street, Brisbane Qld
Eastpoint Plaza 233-237
100% 59.5 3.7 4.26%
adelaide terrace, Perth Wa
Australia Place 14 Mort street,
100% 26.7 0.3 0.00%
Canberra aCt
TOTAl/WEIGHTED
1,875.9 4.3 4.02%
AVERAGE
----- End of picture text -----
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Charter hall oFFICe trust | 33
Argus Centre, Melbourne Vic
34 | Charter hall ProPerty PortFolIo June 2012
Charter Hall Office Trust
CitiCentre 2 Park street, sydney nsW
==> picture [104 x 143] intentionally omitted <==
==> picture [153 x 143] intentionally omitted <==
Premium grade 47 level office tower located in the Sydney CBD directly opposite the Queen Victoria Building and sydney town hall.
==> picture [260 x 288] intentionally omitted <==
----- Start of picture text -----
suMMary
year built (or refurbished) 2000
grade Premium
ownership 50%
JV partner general Property trust (gPt)
total nla (sqm) 73,582
Typical floor plate (sqm) 1,865
Car spaces 284
ValuatIon (30 June 2012 BooK Value)
Valuation (50%) $362.6 million
Value ($/sqm) $9,816
last external valuation date 31 December 2011
Valuer Knight Frank
tenanCy statIstICs
Wale (by income) 3.5 years
occupancy 100%
MaJor tenants nla (sQM)
Citi 33,784
gilbert and tobin 9,280
royal Bank of Canada 6,987
----- End of picture text -----
No.1 Martin Place sydney nsW
==> picture [105 x 143] intentionally omitted <==
==> picture [152 x 143] intentionally omitted <==
Prime office building located in the Sydney CBD on the prestigious gPo site in Martin Place.
==> picture [260 x 259] intentionally omitted <==
----- Start of picture text -----
suMMary
year built (or refurbished) 1999
grade Prime
ownership 50%
JV partner no. 1 Martin Place trust
total nla (sqm) 40,237
Typical floor plate (sqm) 1,672
Car spaces 374
ValuatIon (30 June 2012 BooK Value)
Valuation (50%) $212.5 million
Value ($/sqm) $10,562
last external valuation date 31 December 2011
Valuer Knight Frank
tenanCy statIstICs
Wale (by income) 2.8 years
occupancy 90%
MaJor tenant nla (sQM)
Macquarie group ltd 36,404
----- End of picture text -----
==> picture [255 x 31] intentionally omitted <==
Charter hall oFFICe trust | 35
Charter Hall Office Trust
Allianz Centre
2 Market street, sydney nsW
==> picture [104 x 143] intentionally omitted <==
==> picture [153 x 143] intentionally omitted <==
a 24 level, a-grade building with an adjoining seven level forecourt building located in the western corridor of the sydney CBD.
==> picture [260 x 287] intentionally omitted <==
----- Start of picture text -----
suMMary
year built (or refurbished) 1991 (2007 forecourt)
grade a
ownership 50%
JV partner allianz
total nla (sqm) 39,818
Typical floor plate (sqm) 1,954 (main)
Car spaces 301
ValuatIon (30 June 2012 BooK Value)
Valuation (50%) $171.1 million
Value ($/sqm) $8,586
last external valuation date 31 December 2011
Valuer savills
tenanCy statIstICs
Wale (by income) 6.0 years
occupancy 100%
MaJor tenants nla (sQM)
allianz 18,380
Caltex 9,201
BDo Kendalls 3,952
----- End of picture text -----
59 Goulburn Street sydney nsW
==> picture [105 x 143] intentionally omitted <==
==> picture [152 x 143] intentionally omitted <==
A 28 level, A-grade office tower located between George and Pitt streets, opposite World square.
==> picture [259 x 269] intentionally omitted <==
----- Start of picture text -----
suMMary
year built (or refurbished) 1973 (2001)
grade a
ownership 100%
total nla (sqm) 19,586
Typical floor plate (sqm) 858
Car spaces 135
ValuatIon (30 June 2012 BooK Value)
Valuation $88.7 million
Value ($/sqm) $4,530
last external valuation date 31 December 2011
Valuer m3 Property
tenanCy statIstICs
Wale (by income) 3.3 years
occupancy 96%
MaJor tenants nla (sQM)
Dept of environment, Climate
10,996
Change & Water (nsW)
Charles Parsons 1,669
----- End of picture text -----
36 | Charter hall ProPerty PortFolIo June 2012
The Denison 65 Berry street, north sydney nsW
Charter Grove
29-57 Christie street, st leonards nsW
==> picture [153 x 143] intentionally omitted <==
==> picture [104 x 143] intentionally omitted <==
A modern 18 level office building centrally located within the North sydney CBD.
==> picture [260 x 258] intentionally omitted <==
----- Start of picture text -----
suMMary
year built (or refurbished) 1986
grade a
ownership 100%
total nla (sqm) 15,123
Typical floor plate (sqm) 873
Car spaces 157
ValuatIon (30 June 2012 BooK Value)
Valuation $80.2 million
Value ($/sqm) $5,304
last external valuation date 31 December 2011
Valuer savills
tenanCy statIstICs
Wale (by income) 5.4 years
occupancy 95%
MaJor tenants nla (sQM)
MediaCom 6,912
reckon 2,442
----- End of picture text -----
==> picture [259 x 143] intentionally omitted <==
A modern seven level, A-grade office building and adjoining sports and community complex located in the st leonards business district.
==> picture [260 x 273] intentionally omitted <==
----- Start of picture text -----
suMMary
year built (or refurbished) 1990
grade a
ownership 100%
total nla (sqm) 18,081
Typical floor plate (sqm) 2,155
Car spaces 285
ValuatIon (30 June 2012 BooK Value)
Valuation $82.6 million
Value ($/sqm) $4,566
last external valuation date 31 December 2011
Valuer m3 Property
tenanCy statIstICs
Wale (by income) 4.7 years
occupancy 95%
MaJor tenants nla (sQM)
Coca Cola amatil (australia) 4,313
Fitness First 3,056
aru 2,818
----- End of picture text -----
==> picture [268 x 31] intentionally omitted <==
Charter hall oFFICe trust | 37
Charter Hall Office Trust
Avaya House 123 epping road, Macquarie Park nsW
==> picture [259 x 143] intentionally omitted <==
A modern 10 level, A-grade office building prominently located in one of australia’s premier technology precincts.
==> picture [260 x 259] intentionally omitted <==
----- Start of picture text -----
suMMary
year built (or refurbished) 2000
grade a
ownership 100%
total nla (sqm) 16,281
Typical floor plate (sqm) 1,774
Car spaces 534
ValuatIon (30 June 2012 BooK Value)
Valuation $74.1 million
Value ($/sqm) $4,550
last external valuation date 31 December 2011
Valuer Knight Frank
tenanCy statIstICs
Wale (by income) 3.6 years
occupancy 97%
MaJor tenants nla (sQM)
avaya australia 5,050
amgen australia 2,739
----- End of picture text -----
Wentworth Place 9 Wentworth street, Parramatta nsW
==> picture [259 x 143] intentionally omitted <==
a recently refurbished and upgraded seven level building, well located in the Parramatta CBD.
==> picture [259 x 244] intentionally omitted <==
----- Start of picture text -----
suMMary
year built (or refurbished) 1988
grade a
ownership 100%
total nla (sqm) 7,672
Typical floor plate (sqm) 1,220
Car spaces 97
ValuatIon (30 June 2012 BooK Value)
Valuation $23.3 million
Value ($/sqm) $3,037
last external valuation date 31 December 2011
Valuer CBre
tenanCy statIstICs
Wale (by income) 1.2 years
occupancy 100%
MaJor tenant nla (sQM)
Dept of Immigration & Citizenship 5,972
----- End of picture text -----
38 | Charter hall ProPerty PortFolIo June 2012
Australian Taxation Office 266 King street, newcastle nsW
==> picture [259 x 143] intentionally omitted <==
A modern nine level, A-grade office building located within the civic precinct of the newcastle CBD.
==> picture [260 x 245] intentionally omitted <==
----- Start of picture text -----
suMMary
year built (or refurbished) 1989
grade a
ownership 100%
total nla (sqm) 14,157
Typical floor plate (sqm) 1,682
Car spaces 64
ValuatIon (30 June 2012 BooK Value)
Valuation $50.0 million
Value ($/sqm) $3,532
last external valuation date 31 December 2011
Valuer Knight Frank
tenanCy statIstICs
Wale (by income) 4.8 years
occupancy 100%
MaJor tenant nla (sQM)
Australian Taxation Office 14,157
----- End of picture text -----
Argus Centre 300 latrobe street, Melbourne Vic
==> picture [105 x 143] intentionally omitted <==
==> picture [152 x 143] intentionally omitted <==
----- Start of picture text -----
artist’s Impression (foyer refurbishment)
----- End of picture text -----
A modern 34 level, A-grade office tower located oppoite Melbourne Central railway station in the Flagstaff Precinct of Melbourne’s CBD. undergoing a comprehensive refurbishment, and 10 levels of car parking, comprising 520 car bays.
==> picture [260 x 259] intentionally omitted <==
----- Start of picture text -----
suMMary
year built (or refurbished) 1991 (2012)
grade a
ownership 100%
total nla (sqm) 33,051
Typical floor plate (sqm) 1,487
Car spaces 520
ValuatIon (30 June 2012 BooK Value)
Valuation $151.6 million
Value ($/sqm) $4,588
last external valuation date 31 December 2011
Valuer m3 Property
tenanCy statIstICs
Wale (by income) 10.2 years
occupancy 96%
MaJor tenants nla (sQM)
telstra Corporation ltd 23,482
Department of Veteran affairs 4,749
----- End of picture text -----
==> picture [268 x 31] intentionally omitted <==
Charter hall oFFICe trust | 39
Charter Hall Office Trust
150 lonsdale Sreet Melbourne Vic
==> picture [105 x 143] intentionally omitted <==
==> picture [152 x 143] intentionally omitted <==
A refurbished 29 level, A-grade office building located in the north eastern section of the Melbourne CBD.
==> picture [260 x 287] intentionally omitted <==
----- Start of picture text -----
suMMary
year built (or refurbished) 1974 (2005)
grade a
ownership 100%
total nla (sqm) 28,744
Typical floor plate (sqm) 1,130
Car spaces 647
ValuatIon (30 June 2012 BooK Value)
Valuation $132.8 million
Value ($/sqm) $4,619
last external valuation date 31 December 2011
Valuer CBre
tenanCy statIstICs
Wale (by income) 2.9 years
occupancy 96%
MaJor tenants nla (sQM)
telstra Corporation ltd 13,783
superpartners 3,220
gMK Centric services 2,717
ghD 2,485
----- End of picture text -----
171 Collins Street Melbourne Vic
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----- Start of picture text -----
artist’s Impression
----- End of picture text -----
This iconic building will be Melbourne’s first Premium Grade office building in over 20 years, located on the ‘Paris-end’ of Collins street. thsi 6 star green star rated building will deliver 17 levels of premium and boutique office space in a new generation office tower, targeting a 5 star naBers energy rating. Construction has commenced and completion is due in mid 2013.
==> picture [260 x 205] intentionally omitted <==
----- Start of picture text -----
suMMary
Completion date mid 2013
grade Premium
ownership 50%
JV partner Cbus Property
Proposed office NLA (sqm) 31,394 (land site 2,957)
Proposed retail nla (sqm) 1,698
Proposed storage/other nla (sqm) 364
Proposed car spaces 137
ValuatIon (30 June 2012 BooK Value)
Valuation (50%) $42.0 million
MaJor tenants nla (sQM)
BhP Billiton (pre-committment) 12,338
evans and Partners (pre-committment) 1,690
egon Zhender (pre-committment) 700
----- End of picture text -----
40 | Charter hall ProPerty PortFolIo June 2012
5 Queens Road Melbourne Vic
==> picture [104 x 143] intentionally omitted <==
==> picture [153 x 143] intentionally omitted <==
An 11 level, A-grade office building situated in the midst of the St Kilda Road office precinct, opposite Albert Park.
==> picture [260 x 286] intentionally omitted <==
----- Start of picture text -----
suMMary
year built (or refurbished) 1989
grade a
ownership 100%
total nla (sqm) 17,726
Typical floor plate (sqm) 1,670
Car spaces 323
ValuatIon (30 June 2012 BooK Value)
Valuation $65.6 million
Value ($/sqm) $3,703
last external valuation date 31 December 2011
Valuer Colliers International
tenanCy statIstICs
Wale (by income) 3.5 years
occupancy 100%
MaJor tenants nla (sQM)
Beca 5,041
leighton Contractors Pty ltd 3,362
IsIs 2,827
unico 2,405
----- End of picture text -----
Australia Taxation Office 6-20 gladstone street, Moonee Ponds Vic
==> picture [259 x 142] intentionally omitted <==
A seven level, A-grade office building situated in Moonee Ponds in Melbourne’s north west.
==> picture [260 x 245] intentionally omitted <==
----- Start of picture text -----
suMMary
year built (or refurbished) 1991
grade a
ownership 100%
total nla (sqm) 21,034
Typical floor plate (sqm) 2,862
Car spaces 120
ValuatIon (30 June 2012 BooK Value)
Valuation $80.1 million
Value ($/sqm) $3,622
last external valuation date 31 December 2011
Valuer m3 property
tenanCy statIstICs
Wale (by income) 7.7 years
occupancy 100%
MaJor tenant nla (sQM)
Australian Taxation Office 21,034
----- End of picture text -----
==> picture [268 x 31] intentionally omitted <==
Charter hall oFFICe trust | 41
Charter Hall Office Trust
175 Eagle Street Brisbane Qld
==> picture [104 x 143] intentionally omitted <==
==> picture [153 x 143] intentionally omitted <==
an a-grade quality riverfront property situated within the ‘golden triangle’ of the Brisbane CBD.
==> picture [260 x 287] intentionally omitted <==
----- Start of picture text -----
suMMary
year built (or refurbished) 2002
grade a
ownership 100%
total nla (sqm) 22,851
Typical floor plate (sqm) 1,159
Car spaces 162
ValuatIon (30 June 2012 BooK Value)
Valuation $121.5 million
Value ($/sqm) $5,317
last external valuation date 30 June 2012
Valuer CBre
tenanCy statIstICs
Wale (by income) 3.5 years
occupancy 100%
MaJor tenants nla (sQM)
Credit union australia ltd 4,879
Qr national 4,522
herbert geer 3,477
aon risk services 2,898
----- End of picture text -----
Capital Hill 83-85 george street, Brisbane Qld
==> picture [105 x 143] intentionally omitted <==
==> picture [153 x 143] intentionally omitted <==
An 18 level office building located within the Queensland Government office precinct in the Brisbane CBD.
==> picture [260 x 244] intentionally omitted <==
----- Start of picture text -----
suMMary
year built (or refurbished) 1989
grade B
ownership 100%
total nla (sqm) 10,516
Typical floor plate (sqm) 581
Car spaces 105
ValuatIon (30 June 2012 BooK Value)
Valuation $51.1 million
Value ($/sqm) $4,856
last external valuation date 31 December 2011
Valuer savills
tenanCy statIstICs
Wale (by income) 3.8 years
occupancy 100%
MaJor tenant nla (sQM)
state of Qld - Dept Main roads 8,780
----- End of picture text -----
42 | Charter hall ProPerty PortFolIo June 2012
Eastpoint Plaza 233-237 adelaide terrace, Perth Wa
Australia Place
14 Mort street, Canberra aCt
==> picture [153 x 143] intentionally omitted <==
==> picture [104 x 143] intentionally omitted <==
A 13 level B-grade office building well located in the eastern end of Perth’s CBD.
==> picture [260 x 259] intentionally omitted <==
----- Start of picture text -----
suMMary
year built (or refurbished) 1982
grade B
ownership 100%
total nla (sqm) 11,672
Typical floor plate (sqm) 1,050
Car spaces 89
ValuatIon (30 June 2012 BooK Value)
Valuation $59.5 million
Value ($/sqm) $5,093
last external valuation date 31 December 2011
Valuer Knight Frank
tenanCy statIstICs
Wale (by income) 3.7 years
occupancy 100%
MaJor tenants nla (sQM)
Minister for Works (health & Police) 6,221
Goldfields Gas Transmissions Pty Ltd 1,480
----- End of picture text -----
==> picture [260 x 143] intentionally omitted <==
A modern eight level A-grade commercial office building with basement parking located in the civic precinct of the Canberra CBD.
==> picture [260 x 255] intentionally omitted <==
----- Start of picture text -----
suMMary
year built (or refurbished) 1996
grade a
ownership 100%
total nla (sqm) 9,384
Typical floor plate (sqm) 900
Car spaces 67
ValuatIon (30 June 2012 BooK Value)
Valuation $26.7 million
Value ($/sqm) $2,824
last external valuation date 31 December 2011
Valuer Jones lang lasalle
tenanCy statIstICs
Wale (by income) 0.3 years
occupancy 100%
MaJor tenant nla (sQM)
Dept of education, employment 9,384
and Workplace relations
----- End of picture text -----
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Charter hall oFFICe trust | 43
Brisbane Square, Brisbane Qld
44 | Charter hall ProPerty PortFolIo June 2012
Core Plus Office Fund
Charter Hall’s Core Plus Office Fund (CPOF) is the largest of the Core Plus series of wholesale funds. Launched in 2006, the Fund predominantly targets the office property sector in the major capital city markets of Australia.
Fund Statistics
Top 10 tenants
By gross income
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----- Start of picture text -----
Australian Governments 17%
Telstra 15%
Westpac Group 11%
BHP Billiton 9%
Mercer 5%
Suncorp Metway 5%
Qld Gas Company Ltd 3%
Secure Car Park Mgnt 3%
Parsons Brinckerhoff 3%
Hatch 3%
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Annual lease expiry
By gross income
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----- Start of picture text -----
Vacant 2%
FY13 4%
FY14 5%
FY15 18%
FY16 13%
FY17 9%
FY18 17%
FY19 11%
FY20+ 21%
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Core Plus oFFICe FunD | 45
Fund Statistics
Asset diversification
By current value
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----- Start of picture text -----
109 St Georges Terrace, Perth 4% 225 St Georges Terrace, Perth 13%
144 Stirling Street, Perth 3%
51 Pirie Street, Adelaide 1%
Bank SA, Adelaide 1% Northbank Plaza, Brisbane 11%
331/333 George Street, Sydney 5%
167 Macquarie Street, Sydney 6%
275 George Street, Brisbane 12%
St George Bank, Kogarah, Sydney 8%
Brisbane Square, Brisbane 13%
570 Bourke Street, Melbourne 11% 11 Exhibition Street, Melbourne 12%
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Tenant type diversification By gross income
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----- Start of picture text -----
Other 14%
Government and
government related 17% National and international 69%
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46 | Charter hall ProPerty PortFolIo June 2012
Property Portfolio
Geographical diversification
By current value
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----- Start of picture text -----
South Australia 2%
Victoria 23%
Queensland 36%
Western Australia 21%
New South Wales 18%
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Weighted Average lease Expiry (years) By gross income
| Brisbane Square, Brisbane Qld |
9.5 | |
|---|---|---|
| 4-16 Montgomery Street, Kogarah NSW |
9.2 | |
| 97 King William Street, Adelaide SA |
9.2 | |
| 144 Stirling Street, Perth WA |
7.7 | |
| 275 George Street, Brisbane Qld |
7.0 | |
| Northbank Plaza, Brisbane Qld |
5.3 | |
| 109 St Georges Terrace, Perth WA |
4.4 | |
| 11 Exhibition Street, Melbourne Vic |
4.1 | |
| 225 St Georges Terrace, Perth WA |
4.1 | |
| 167 Macquarie Street, Sydney NSW |
4.0 | |
| 570 Bourke Street, Melbourne Vic |
3.7 | |
| 51 Pirie Street, Adelaide SA |
3.7 | |
| 331 George Street, Sydney NSW |
1.6 | |
| 333 George Street, Sydney NSW |
1.5 | |
| WALE | 5.5 |
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Core Plus oFFICe FunD | 47
Property Portfolio
June 2012 Capitalisation rate 7.86%
June 2012 Discount rate
9.41%
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----- Start of picture text -----
CPOF JuN 2012 WALE WEIGHTED AVG RENT
OwNERSHIP (%) VALuATION (A$M) (yEARS) REVIEwS (%)
167 Macquarie Street,
100% 87.0 4.0 3.79%
sydney nsW
St George Bank,
100% 118.0 9.2 CPI (3.0%)
Kogarah, sydney nsW
331 & 333 George Street,
100% 73.5 1.5 3.79%
sydney nsW
11 Exhibition Street, 100% 177.3 4.1 4.12%
Melbourne Vic
570 Bourke Street, 100% 176.0 3.7 3.52%
Melbourne Vic
Brisbane Square,
50% 200.0 9.5 3.43%
Brisbane Qld
275 George Street,
50% 180.0 7.0 4.45%
Brisbane Qld
Northbank Plaza, 100% 168.0 5.3 4.55%
Brisbane Qld
51 Pirie Street, 100% 14.0 3.7 3.79%
adelaide sa
Bank SA, 100% 20.3 9.2 CPI (3.0%)
adelaide sa
225 St Georges Terrace,
100% 200.0 4.1 5.14%
Perth Wa
109 St Georges Terrace,
100% 67.0 4.4 3.78%
Perth Wa
TOTAl/
1,534.0 5.5 4.04%
WEIGHTED AVERAGE [1]
----- End of picture text -----
Note: Gross asset value and portfolio statistics includes 144 Stirling Street, Perth, which was sold post 30 June 2012 to Charter Hall Investment Fund No.8 (CHIF8). Refer to page 93 for information on 144 Stirling Street, Perth.
48 | Charter hall ProPerty PortFolIo June 2012
CPOF’s asset portfolio is diversified across all key office markets and is well positioned to take advantage of improving market conditions.
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11 Exhibition Street, Melbourne Vic Core Plus oFFICe FunD | 49
Core Plus Office Fund
167 Macquarie Street sydney nsW (core)
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Located in the prestigious financial core of Sydney’s CBD, Macquarie House is a refurbished A grade office tower offering spectacular views across the royal Botanic gardens and sydney harbour.
the building spans 19 levels consisting two ground level retail tenancies.
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----- Start of picture text -----
suMMary
year built (or refurbished) 1970 (2005)
grade a
ownership 100%
total nla (sqm) 9,734
Typical floor plate (sqm) 780
Car spaces 78
ValuatIon
Valuation $87.0 million
Value ($/sqm) $8,861
last external valuation date 30 June 2012
Valuer CBre
tenanCy statIstICs
Wale (by income) 4.0 years
occupancy 100%
MaJor tenants nla (sQM)
gresham Partners 2,364
Fidelity 2,364
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St George Bank 4-16 Montgomery street, Kogarah nsW (core)
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st george house is well positioned on the southern rail network, providing the Bank with an excellent ability to tap into the large southern sydney workforce. st george house comprises a purpose built commercial complex, spanning eight levels featuring extensive office space, a bank branch and car spaces.
In addition to the office space and bank branch, the property incorporates a cafeteria, community centre, child care centre, auditorium, gymnasium, outdoor area, tennis court and running track.
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----- Start of picture text -----
suMMary
year built (or refurbished) 1990
grade a
ownership 100%
total nla (sqm) 31,398
Typical floor plate (sqm) 1,965
Car spaces 595
ValuatIon
Valuation $118.0 million
Value ($/sqm) $3,758
last external valuation date 30 June 2012
Valuer m3 Property
tenanCy statIstICs
Wale (by income) 9.2 years
occupancy 100%
MaJor tenant nla (sQM)
st george Bank (Westpac) 31,398
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50 | Charter hall ProPerty PortFolIo June 2012
331 and 333 George Street sydney nsW ( core/development inventory)
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Prominently located at the western end of Martin Place in sydney’s CBD, the property comprises a 15 level refurbished commercial office tower built in 1971. 331 George Street is a standalone three level retail terrace building, which is currently fully leased. 331 george street was acquired by CPoF as part of a strategic site consolidation plan, which is part of a medium to long term strategy to redevelop the combined properties into an integrated a-grade retail and office building.
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----- Start of picture text -----
suMMary 331 333
year built (or refurbished) n/a 1971
grade retail B
ownership 100% 100%
total nla (sqm) 138 9,882
Typical floor plate (sqm) 138 730
Car spaces 0 16
ValuatIon
Valuation $5.5 million $68.0 million
Value ($/sqm) - Office n/a $5,244
- retail $39,855 $17,608
last external valuation date 31 December 2011 31 December 2011
Valuer savills savills
tenanCy statIstICs
Wale (by income) 1.6 years 1.5 years
occupancy 100% 85.5%
MaJor tenants nla (sQM) nla (sQM)
Charter hall group n/a 1,919
Bar 333 (ryans hotels) n/a 1,089
australian ugg 138 n/a
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11-33 Exhibition Street Melbourne Vic (core)
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located in the prime eastern sector of the Melbourne CBD, within close proximity to Collins street, 11–33 exhibition street is a modern prime-grade office building.
The building comprises 16 levels of office accommodation with a further 1,077sqm of various retail leases.
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----- Start of picture text -----
suMMary
year built (or refurbished) 2005
grade a
ownership 100%
total nla (sqm) 22,842
Typical floor plate (sqm) 1,700
Car spaces 340
ValuatIon
Valuation $177.3 million
Value ($/sqm) $7,760
last external valuation date 30 June 2012
Valuer savills
tenanCy statIstICs
Wale (by income) 4.1 years
occupancy 100%
MaJor tenants nla (sQM)
Mercer 11,748
Fair Work australia (Commonwealth of australia) 9,796
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Core Plus oFFICe FunD | 51
Core Plus Office Fund
570 Bourke Street Melbourne Vic ( core/development inventory)
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570 Bourke street is located in the heart of Melbourne CBD’s legal and commercial district. the property comprises 35,083sqm of refurbished commercial office space over 31 levels in addition to a public car park over five basement levels.
Brisbane Square Brisbane Qld (core)
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located within the Brisbane CBD at the top of the Queen street Mall, Brisbane Square is an iconic office building located in the heart of the government and legal precincts along george street. the property comprises of premium office space over 38 levels, ground floor retail and parking over three basement levels.
the building was purchased in november 2010 and CPoF holds a 50% stake with telstra super.
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----- Start of picture text -----
suMMary
year built (or refurbished) 1972 (2003)
grade a
ownership 100%
total nla (sqm) 35,083
Typical floor plate (sqm) 1,150
Car spaces 522
ValuatIon
Valuation $176.0 million
Value ($/sqm) (exc car park) $5,017
last external valuation date 30 June 2012
Valuer savills
tenanCy statIstICs
Wale (by income) 3.7 years
occupancy 90.6%
MaJor tenants nla (sQM)
state government 11,928
Willis australia 3,420
anZ 2,285
secure Parking 522 bays
----- End of picture text -----
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----- Start of picture text -----
suMMary
year built (or refurbished) 2006
grade a
ownership 50%
total nla (sqm) 57,368
Typical floor plate (sqm) 1,420
Car spaces 341
ValuatIon
Valuation (50%) $200.0 million
Value ($/sqm) $6,757
last external valuation date 31 December 2011
Valuer Knight Frank
tenanCy statIstICs
Wale (by income) 9.5 years
occupancy 99.5%
MaJor tenants nla (sQM)
Brisbane City Council 34,598
suncorp Metway 23,572
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52 | Charter hall ProPerty PortFolIo June 2012
275 George Street Brisbane Qld (core)
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Comprising more than 40,000sqm of A-grade office and retail space over 30 levels, this state-of-the-art energy efficient building is located in the heart of the Brisbane CBD. With a 5 star naBers energy rating and a 5 star green star rating, the building offers sweeping 360 degree views of the Brisbane river and cityscape. CPoF holds a 50% stake with the singaporean listed K-reIt.
==> picture [260 x 259] intentionally omitted <==
----- Start of picture text -----
suMMary
year built (or refurbished) 2009
grade a
ownership 50%
total nla (sqm) 41,738
Typical floor plate (sqm) 1,302
Car spaces 246
ValuatIon
Valuation (50%) $180.0 million
Value ($/sqm) $8,623
last external valuation date 31 December 2011
Valuer Knight Frank
tenanCy statIstICs
Wale (by income) 7.0 years
occupancy 100%
MaJor tenants nla (sQM)
telstra Corporation ltd 28,836
Queensland gas Company 11,652
----- End of picture text -----
Northbank Plaza
69 ann street, Brisbane Qld (core)
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located within the Brisbane CBD, northbank Plaza has been comprehensively refurbished and repositioned with a-grade services. The majority of floors feature expansive river, mountain and CBD views.
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----- Start of picture text -----
suMMary
year built (or refurbished) 2008
grade a
ownership 100%
total nla (sqm) 26,700
Typical floor plate (sqm) - Tower 1,200
Car spaces 156
ValuatIon
Valuation $168.0 million
Value ($/sqm) $6,277
last external valuation date 30 June 2012
Valuer savills
tenanCy statIstICs
Wale (by income) 5.3 years
occupancy 100%
MaJor tenants nla (sQM)
telstra Corporation ltd 17,996
Parsons Brinckerhoff 5,847
the Bureau of Meteorology 1,400
----- End of picture text -----
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Core Plus oFFICe FunD | 53
Core Plus Office Fund
51 Pirie Street adelaide sa (core/development)
Bank SA
97 King William street, adelaide sa (core)
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----- Start of picture text -----
artist’s Impression
----- End of picture text -----
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----- Start of picture text -----
artist’s Impression
----- End of picture text -----
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located in the heart of the adelaide CBD, 51 Pirie street comprises a seven level retail/office building. The property comprises refurbished commercial B-grade accommodation covering ground retail, five upper levels of office space and a basement level.
Bank sa is located in the heart of adelaide and comprises a basement vault, ground and mezzanine level banking branch, and an office building over eight upper levels. The building also includes a gymnasium and squash courts which are located on the roof area.
Planning approval has been obtained for a new 32,000sqm a-grade office tower comprising 21 levels and will target a 5 star Green Star rating and a 5 star naBers energy rating
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----- Start of picture text -----
suMMary (Current BuIlDIng) suMMary
year built (or refurbished) 1983 year built (or refurbished) 1943
grade B grade B
ownership 100% ownership 100%
total nla (sqm) 6,315 total nla (sqm) 15,115
Typical floor plate (sqm) 940 Typical floor plate (sqm) 1,340
Car spaces 0 Car spaces 28
ValuatIon ValuatIon
Valuation $14.0 million Valuation $20.3 million
Value ($/sqm) $2,256 Value ($/sqm) $1,340
last external valuation date 30 June 2012 last external valuation date 30 June 2012
Valuer Knight Frank Valuer Jones lang lasalle
tenanCy statIstICs tenanCy statIstICs
Wale (by income) 3.7 years Wale (by income) 9.2 years
occupancy 74.1% occupancy 100%
MaJor tenant nla (sQM) MaJor tenant nla (sQM)
st george Bank 4,291 st george Bank 15,115
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54 | Charter hall ProPerty PortFolIo June 2012
BHP House 225 st georges terrace, Perth Wa (core)
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Located on St Georges Terrace, the primary office address within the Perth CBD, 225 st georges terrace comprises a 21,192sqm office building, with 733sqm of retail space and three levels of basement parking.
==> picture [262 x 259] intentionally omitted <==
----- Start of picture text -----
suMMary
year built (or refurbished) 1990
grade a
ownership 100%
total nla (sqm) 21,192
Typical floor plate (sqm) 1,130
Car spaces 373
ValuatIon
Valuation $200.0 million
Value ($/sqm) $9,438
last external valuation date 30 June 2012
Valuer savills
tenanCy statIstICs
Wale (by income) 4.1 years
occupancy 100%
MaJor tenants nla (sQM)
BhP Billiton 14,845
Wilson Parking 373 bays
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109 St Georges Terrace Perth Wa (core)
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located in the heart of the Perth CBD, the Westpac building at 109 St Georges Terrace, comprises a lower A-grade office building, which underwent extensive refurbishment in 2005. the building spans 19 upper office levels, a ground level bank, vault and security storage area.
==> picture [261 x 258] intentionally omitted <==
----- Start of picture text -----
suMMary
year built (or refurbished) 2005
grade a
ownership 100%
total nla (sqm) 13,897
Typical floor plate (sqm) 75
Car spaces 550
ValuatIon
Valuation $67.0 million
Value ($/sqm) $4,821
last external valuation date 31 December 2011
Valuer savills
tenanCy statIstICs
Wale (by income) 4.4 years
occupancy 100%
MaJor tenants nla (sQM)
Westpac Bank 7,620
Calibre global 2,497
----- End of picture text -----
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Core Plus oFFICe FunD | 55
CPIF owns 18 assets with an average value of $33 million and a strong Wale of 11.5 years.
123-135 Kewdale Road, Kewdale WA
56 | Charter hall ProPerty PortFolIo June 2012
Core Plus Industrial Fund
Charter Hall’s Core Plus Industrial Fund (CPIF) was launched in 2007. The Fund predominantly targets industrial and logistics sectors in major capital city markets of Australia and sources a mix of core and enhanced investment grade property assets.
Fund Statistics
Top 10 tenants By gross income
| Coles | 23% | |
|---|---|---|
| Woolworths | 12% | |
| Metcash | 10% | |
| Volkswagen | 9% | |
| Fastline International | 5% | |
| Volvo | 4% | |
| Smorgon Steel | 4% | |
| Schenker | 3% | |
| Chevron | 3% | |
| Shriro | 3% |
Annual lease expiry
By gross income
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----- Start of picture text -----
Vacant 2%
FY13 2%
FY14 1%
FY15 3%
FY16 1%
FY17 12%
FY18 9%
FY19 7%
FY20 2%
FY21+ 62%
----- End of picture text -----
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Core Plus InDustrIal FunD | 57
Fund Statistics
Asset diversification
By current value
| ifcation lue |
||
|---|---|---|
| Schenker Facility, Melbourne Airport 2% 130-138 Link Road, Melbourne Airport 2% Woolworths Distribution Centre, Launceston 13% Metcash Distribution Centre, CanningVale 11% Coles Distribution Centre, Perth Airport 23% 200 Holt Road, Pinkenba 2% Lot 2 Sherbrooke Road, Willawong Qld 2% Toll Facility, Brisbane Airport 1% Kathmandu Facility, Melbourne Airport 1% 238-260 Gilmore Road, Berrinda 1% |
Volkswagen Distribution Centre, Chullora 10% |
|
| 123-135 Kewdale Road, Kewdale 6% | ||
| 372 Eastern Valley Way, Chatswood, 5% Fastline Facility, Derrimut 5% |
||
| SmorgonDistributionCentre, Pinkenba 5% 140-160 Robinson Road, Geebung 5% 17 Sugarmill Road, Meeandah 4% |
140-160 Robinson Road, Geebung 5% | |
| 56 Anzac Street, Chullora 3% |
Core vs. Enhanced assets By current value
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----- Start of picture text -----
Enhanced 5%
----- End of picture text -----
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----- Start of picture text -----
Core 95%
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58 | Charter hall ProPerty PortFolIo June 2012
Property Portfolio
Geographical diversification By current value
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----- Start of picture text -----
Victoria 10% Western Australia 40%
Tasmania 13%
Queensland 19% New South Wales 18%
----- End of picture text -----
Weighted Average lease Expiry By years
| Woolworths Distribution Centre, Launceston Tas |
24.7 | ||
|---|---|---|---|
| Coles Distribution Centre, Perth Airport WA |
15.9 | ||
| Fastline Facility, Derrimut NSW |
15.4 | ||
| Volkswagen Distribution Centre, Chullora NSW |
12.2 | ||
| Smorgon Distrubition Centre, Pinkenba Qld |
11.5 | ||
| Metcash Distribution Centre, Canning Vale WA |
11.5 | ||
| Schenker Facility, Melbourne Airport Vic |
6.9 | ||
| 56 Anzac Street, Chullora NSW |
5.9 | ||
| 17 Sugarmill Road, Pinkenba Qld |
5.2 | ||
| 123-135 Kewdale Road, Kewdale WA |
5.1 | ||
| 372 Eastern Valley Way, Chatswood NSW |
4.9 | ||
| Toll Facility, Brisbane Airport Vic |
4.7 | ||
| Kathmandu Facility, Melbourne Airport Vic |
4.3 | ||
| 140-160 Robinson Road, Geebung Qld |
2.9 | ||
| 130-138 Link Road, Tullamarine Vic |
2.6 | ||
| WALE | 11.5 |
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Core Plus InDustrIal FunD | 59
Core Plus Industrial Fund
June 2012 Capitalisation rate 8.21%
June 2012 Discount rate
9.85%
==> picture [540 x 580] intentionally omitted <==
----- Start of picture text -----
CPIF JuN 2012 WALE WEIGHTED AVG RENT
OwNERSHIP (%) VALuATION (A$M) (yEARS) REVIEwS (%)
Volkswagen Distribution Centre,
100% 57.5 12.2 3.25%
Chullora nsW
372 Eastern Valley Way,
100% 31.5 4.9 3.61%
Chatswood nsW
56 Anzac Street, 100% 19.1 5.9 3.61%
Chullora nsW
Schenker Facility,
100% 11.4 6.9 3.50%
Melbourne airport Vic
130-138 link Road, 100% 14.4 2.6 3.50%
Melbourne airport Vic
Kathmandu Facility,
100% 7.1 4.3 3.50%
Melbourne airport Vic
Fastline Facility,
100% 28.8 15.4 3.50%
Derrimut Vic
Smorgon Distribution Centre,
100% 27.0 11.5 3.25%
Pinkenba Qld
200 Holt Street, 100% 10.2 n/a n/a
Pinkenba Qld
140-160 Robinson Road, 100% 27.0 2.9 3.23%
geebung Qld
Toll Facility,
100% 8.5 4.7 3.25%
Brisbane airport Qld
17 Sugarmill Road,
100% 22.2 5.2 3.94%
Meeandah Qld
238-260 Gilmore Road, 100% 7.8 n/a n/a
Berrinba Qld
lot 2 Sherbrooke Road, 100% 10.1 n/a n/a
Willawong Qld
Coles Distribution Centre, 75% 134.3 15.9 2.75%
Perth airport Wa
123-135 Kewdale Road, 100% 34.5 5.1 4.00%
Kewdale Wa
Metcash Distribution Centre,
50% 66.6 11.5 3.00%
Canning Vale Wa
Woolworths Distribution Centre,
100% 74.0 24.7 2.80%
launceston tas
TOTAl/WEIGHTED
591.9 11.5 3.17%
AVERAGE
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60 | Charter hall ProPerty PortFolIo June 2012
Volkswagen Australia 24 Muir road, Chullora nsW
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located within Chullora Business Park, the new Volkswagen group Australia head office and distribution centre comprises three office levels over 10,500sqm, an international training centre, service area and a warehouse facility comprising 16,000sqm.
the state of the art facility comprises warehouse accommodation featuring a minimum clearance height of approximately ten metres and ten recessed docks.
==> picture [260 x 216] intentionally omitted <==
----- Start of picture text -----
suMMary
year built (or refurbished) 2011
ownership 100%
total gla (sqm) 26,739
Car spaces n/a
ValuatIon
Valuation $57.5 million
Value ($/sqm) $2,150
last external valuation date 31 December 2011
Valuer CBre
tenanCy statIstICs
Wale (by income) 12.2 years
occupancy 100%
MaJor tenant (gla) sQM
Volkswagen group 26,739
----- End of picture text -----
Chatswood Business Park
372 eastern Valley Way, Chatswood nsW
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The Chatswood Business Park is located on a high profile site at the corner of eastern Valley Way and smith street, two kilometres north east of the Chatswood regional Centre and 10 kilometres north of the sydney CBD.
the property comprises a modern, ten unit industrial complex that was completed in 1986. the units are constructed over two main levels and have a gla of 12,674sqm. the top level of the estate is occupied by traditional industrial tenants, whilst the ground level of the estate comprises more commercial and household retail uses.
==> picture [259 x 244] intentionally omitted <==
----- Start of picture text -----
suMMary
year built (or refurbished) 1986
ownership 100%
total gla (sqm) 12,674
Car spaces 190
ValuatIon
Valuation $31.5 million
Value ($/sqm) $2,485
last external valuation date 30 June 2012
Valuer savills
tenanCy statIstICs
Wale (by income) 4.9 years
occupancy 95%
MaJor tenants (gla) sQM
Petbarn 3,624
the good guys 2,566
Channel nine 1,921
----- End of picture text -----
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Core Plus InDustrIal FunD | 61
Core Plus Industrial Fund
56 Anzac Street Chullora nsW
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The property comprises two substantial industrial warehouse/office facilities, with attached awning and hardstand areas situated on a site of 6.476 hectares. Building one comprises a modern showroom/ office area fronting the Hume Highway and warehouse area to the rear. It is occupied by Volvo truck australia and has a gla of 6,995sqm.
Building two is a large freestanding office/warehouse of approx 21,204sqm. Internal clearance ranges from approximately 13 metres to 19 metres and access is provided via a series of 15 roller shutter doors with a large covered awning.
==> picture [260 x 244] intentionally omitted <==
----- Start of picture text -----
suMMary
year built (or refurbished) 2010
ownership 100%
total gla (sqm) 28,199
Car spaces n/a
ValuatIon
Valuation $19.1 million
Value ($/sqm) $667
last external valuation date 31 December 2011
Valuer savills
tenanCy statIstICs
Wale (by income) 4.7 years
occupancy 100%
MaJor tenants (gla) sQM
shriro 10,409
australian Post 9,782
Volvo 6,995
----- End of picture text -----
41-57 South Centre Road Melbourne airport Business Park, tullamarine Vic
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Ideally located within the Melbourne airport precinct, the site is in close proximity to all airport freight and logistics facilities as well as excellent immediate access to major freeway systems. this new facility was completed and occupied in May 2009, and features gla of 13,716sqm incorporating a high clearance (ten metre) sprinklered warehouse with roller shutter doors and recessed loading docks, an external 15 metre awning and efficient B-double access.
==> picture [260 x 215] intentionally omitted <==
----- Start of picture text -----
suMMary
year built (or refurbished) 2009
ownership 100%
total gla (sqm) 13,716
Car spaces 244
ValuatIon
Valuation $11.4 million
Value ($/sqm) $831
last external valuation date 30 June 2012
Valuer m3 Property
tenanCy statIstICs
Wale (by income) 6.9 years
occupancy 100%
MaJor tenant (gla) sQM
DB schenker 13,716
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62 | Charter hall ProPerty PortFolIo June 2012
130-138 link Road Melbourne airport Business Park, tullamarine Vic
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the property comprises a logistics facility, within the Melbourne Airport Business Park, which is located to the southern confines of tullamarine airport. the facility comprises two stages, the Caterpillar Logistics tenancy, two level office attached to a sprinklered, high bay (ten metre springing height) warehouse totalling 10,678sqm and providing both on-grade and recessed dock loading.
The balance of this building comprises a further two level office attached to a sprinklered, high bay warehouse totalling 10,479sqm and providing both on-grade and recessed dock loading.
==> picture [260 x 229] intentionally omitted <==
----- Start of picture text -----
suMMary
year built (or refurbished) 2006
ownership 100%
total gla (sqm) 21,157
Car spaces n/a
ValuatIon
Valuation $14.4 million
Value ($/sqm) $681
last external valuation date 31 December 2011
Valuer m3 Property
tenanCy statIstICs
Wale (by income) 2.6 years [1]
occupancy 49.2% [1]
MaJor tenants (gla) sQM
Caterpillar 10,479
Victorian electrical Commission 10,678 [1]
----- End of picture text -----
55-65 Sky Road Melbourne airport Business Park, tullamarine Vic
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the property comprises a logistics facility, within the Melbourne Airport Business Park, which is located to the southern confines of tullamarine airport.
The Kathmandu facility comprises a two level office attached to a sprinklered, high bay (ten metre springing height) warehouse totalling approximately 10,040sqm, both on-grade and recessed dock loading provides for B-double access. It occupies a leasehold corner site of 18,397sqm.
==> picture [259 x 215] intentionally omitted <==
----- Start of picture text -----
suMMary
year built (or refurbished) 2006
ownership 100%
total gla (sqm) 10,040
Car spaces n/a
ValuatIon
Valuation $7.1 million
Value ($/sqm) $707
last external valuation date 31 December 2011
Valuer m3 Property
tenanCy statIstICs
Wale (by income) 4.3 years
occupancy 100%
MaJor tenant (gla) sQM
Kathmandu 10,040
----- End of picture text -----
Note 1: Post 30 June 2012 taking the occupancy to 100% and WALE to 6.3 years
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Core Plus InDustrIal FunD | 63
Core Plus Industrial Fund
309 Fitzgerald Road Derrimut Vic
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situated on a 48,253sqm site is a new distribution facility, which was constructed over three stages, commencing in 1998 and completed in 2004. the facility comprises a total core gla of 27,432sqm, made up of a 2,303sqm office and a 25,129sqm warehouse.
the property is an excellent modern logistics facility, enjoying a convenient location, only 800 metres from the Western ring road on and off ramps. The site coverage provides efficient B-double access and the flexibility to be subdivided into smaller tenancies.
==> picture [260 x 215] intentionally omitted <==
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suMMary
year built (or refurbished) 2002
ownership 100%
total gla (sqm) 27,432
Car spaces n/a
ValuatIon
Valuation $28.8 million
Value ($/sqm) $1,050
last external valuation date 31 December 2011
Valuer Jones lang lasalle
tenanCy statIstICs
Wale (by income) 15.4 years
occupancy 100%
MaJor tenant (gla) sQM
Fastline International 27,432
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30 Main Beach Road Pinkenba Qld
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the smorgon Distribution Centre is a state of the art logistics facility located on a large land holding of 4.22 hectares strategically situated within the trade Coast Precinct, close to Brisbane airport, the Port of Brisbane and the Brisbane CBD on the north side of the river.
the facility has a gla of 11,705sqm incorporating a high clearance (9.7 metres) warehouse, with multiple access points, together with two level offices and amenities, b-double access, an expansive marshalling area and on-grade dock access.
==> picture [260 x 216] intentionally omitted <==
----- Start of picture text -----
suMMary
year built (or refurbished) 2008
ownership 100%
total gla (sqm) 11,705
Car spaces n/a
ValuatIon
Valuation $27.0 million
Value ($/sqm) $2,307
last external valuation date 30 June 2012
Valuer savills
tenanCy statIstICs
Wale (by income) 11.5 years
occupancy 100%
MaJor tenant (gla) sQM
smorgon steel 11,705
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64 | Charter hall ProPerty PortFolIo June 2012
200 Holt Street Pinkenba Qld
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artist’s Impression
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the property comprises a 31,880sqm site, and it is proposed to construct new industrial buildings, providing a total gla of circa 17,500sqm. the eagle Farm/Pinkenba industrial precinct is one of the most tightly held industrial precincts in Brisbane and is sought after by industrial/commercial users, given its unparalleled access to the gateway arterial network, airport, Port and the Brisbane CBD.
the property represents one of the last remaining large scale freehold industrial development sites in the precinct and provides for drive around access from dual entry/exit ports.
| suMMary | |
|---|---|
| year built (or refurbished) | Development site |
| ownership | 100% |
| site area (ha) | 3.18 |
| Car spaces ValuatIon |
n/a |
| Valuation | $10.3 million |
| Value ($/sqm) | $322 |
| last external valuation date | 31 December 2011 |
| Valuer | Knight Frank |
140-160 Robinson Road geebung Qld
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140–160 robinson road comprises two industrial sites located within the core industrial precinct of geebung, which is located within close proximity to Brisbane airport and the gateway Motorway. the properties have prominent frontage on robinson road, which is currently undergoing considerable gentrification toward a higher office/showroom style product. The acquisition of both the Robinson road properties created an institutional grade industrial estate. the metrics for both properties are assessed as one single holding.
| suMMary | |
|---|---|
| year built (or refurbished) | 2002-2006 |
| ownership | 100% |
| total gla (sqm) | 17,376 |
| Car spaces ValuatIon |
n/a |
| Valuation | $27.0 million |
| Value ($/sqm) | $1,554 |
| last external valuation date | 31 December 2011 |
| Valuer tenanCy statIstICs |
Knight Frank |
| Wale (by income) | 2.9 years |
| occupancy MaJor tenants |
100% (gla) sQM |
| tJM (subsidiary of usa listed group CMI ltd) |
9,310 |
| Protector alsafe (100% subsidiary of Wesfarmers) |
4,396 |
| Wild republic (K&M toys) | 1,977 |
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Core Plus InDustrIal FunD | 65
Core Plus Industrial Fund
Toll, 7 Viola Place Brisbane airport Qld
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the property comprises a 14,920sqm leasehold site, improved with a newly completed industrial building, providing a 1,668sqm two level office and 4,881sqm warehouse, with a minimal internal clearance height of eight metres and an additional 1,370sqm of awnings and b-double access. off-street parking is provided for 105 cars.
the property is located within the newly developed Brisbane airport Business Park and sits alongside Dhl, repco and Custom Fleet, providing further support for the location as a logistics hub.
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suMMary
year built (or refurbished) 2007
ownership 100%
total gla (sqm) 6,550
Car spaces 105
ValuatIon
Valuation $8.5 million
Value ($/sqm) $1,302
last external valuation date 31 December 2011
Valuer Colliers International
tenanCy statIstICs
Wale (by income) 4.7 years
occupancy 100%
MaJor tenant (gla) sQM
toll transport 6,550
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Citiport Industrial Estate 17 sugarmill road, Pinkenba Qld
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the Citiport Industrial estate is located approximately nine kilometres north east of the Brisbane CBD in the heart of the australia trade Precinct. the estate is accessed directly from sugarmill road and provides for good access and manoeuvrability.
The property comprises seven modern office and warehouse units erected in three buildings, together with a small central café tenancy and 135 car spaces and is 100% occupied. the estate has a gla of 14,244sqm with approved expansion potential of approximately 4,150sqm.
| suMMary | |
|---|---|
| year built (or refurbished) | 1991 |
| ownership | 100% |
| total gla (sqm) | 14,244 |
| Car spaces ValuatIon |
n/a |
| Valuation | $22.2 million |
| Value ($/sqm) | $1,555 |
| last external valuation date | 30 June 2012 |
| Valuer tenanCy statIstICs |
savills |
| Wale (by income) | 5.3 years |
| occupancy MaJor tenants |
100% (gla) sQM |
| thales | 5,322 |
| sandvik | 4,391 |
| CV services | 2,943 |
| airport loaders & Packers | 1,285 |
66 | Charter hall ProPerty PortFolIo June 2012
Coles Distribution Centre 136 horrie Miller Drive, Perth Wa
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the Coles Distribution Centre is a state-of-the-art logistics facility located on a 25 hectare site strategically situated within Perth airport, ten kilometres east of the Perth CBD. the centre is located on horrie Miller Drive, midway from its intersection with tonkin highway and Perth International terminal. Perth airport is one of the major logistics hubs in Western australia, with tenants including Woolworths, toll, electrolux and linfox recently committing to large facilities along horrie Miller Drive.
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----- Start of picture text -----
suMMary
year built (or refurbished) 2008
ownership 75%
total gla (sqm) 81,647
Car spaces n/a
ValuatIon
Valuation (75%) $134.3 million
Value ($/sqm) $2,192
last external valuation date 30 June 2012
Valuer Jones lang lasalle
tenanCy statIstICs
Wale (by income) 15.9 years
occupancy 100%
MaJor tenant (gla) sQM
Coles group ltd 81,647
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123-135 Kewdale Road Kewdale Wa
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the property is located approximately eight kilometres south of the Perth CBD, one kilometre south of Perth airport and adjoins the Kewdale Freight terminal. It is a proven transport and distribution location, and is in close proximity to the leach, tonkin and roe highways.
the 4.5 hectare site contains a former Woolworths distribution centre, comprising approximately 2,013sqm of office and 27,942sqm of warehouse space. the facility provides complete drive around and double access, in addition to both on-grade and dock access.
==> picture [260 x 244] intentionally omitted <==
----- Start of picture text -----
suMMary
year built (or refurbished) 2006
ownership 100%
total gla (sqm) 29,039
Car spaces n/a
ValuatIon
Valuation $34.5 million
Value ($/sqm) $1,189
last external valuation date 30 June 2012
Valuer Jones lang lasalle
tenanCy statIstICs
Wale (by income) 5.1 years
occupancy 100%
MaJor tenants (gla) sQM
Chevron 14,362
Myer 12,585
Woolworths 2,071
----- End of picture text -----
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Core Plus InDustrIal FunD | 67
218 Bannister Road Canning Vale Wa
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the property incorporates a modern logistics facility that has a gross lettable area of 98,295sqm with canopies, loading docks and ancillary areas of a further 8,630sqm located within the land constrained precint of Canning Vale. the high quality facility is in very good condition with the original improvements being circa 15-20 years old however approximately 21% of the improvements have been constructed over the last 2 years and are in new or near new condition.
==> picture [260 x 215] intentionally omitted <==
----- Start of picture text -----
suMMary
year built (or refurbished) 2011
ownership 50%
total gla (sqm) 98,265
Car spaces 950
ValuatIon
Valuation $66.6 million
Value ($/sqm) $1,355
last external valuation date 31 March 2012
Valuer savills
tenanCy statIstICs
Wale (by income) 11.5 years
occupancy 100%
MaJor tenant (gla) sQM
Metcash limited 98,265
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Woolworths Distribution Centre 4-20 translink avenue, launceston tas
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the Woolworths Distribution Centre is a state-of-the-art logistics facility located on a 19.8 hectare site which adjoins the northern end of launceston airport and is approximately 15 kilometres from Launceston’s CBD. The building is highly energy efficient using the latest environmental controls and sustainability initiatives and also provides for significant expansion with development approval for the construction of another 25,000sqm of warehouse accommodation.
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----- Start of picture text -----
suMMary
year built (or refurbished) 2012
ownership 100%
total gla (sqm) 46,000
Car spaces 394
ValuatIon
Valuation (on completion) $74.0 million
Value ($/sqm) $1,643
last external valuation date 30 June 2012
Valuer Jones lang lasalle
tenanCy statIstICs
Wale (by income) 24.7 years
occupancy 100%
MaJor tenant (gla) sQM
Woolworths ltd 46,000
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68 | Charter hall ProPerty PortFolIo June 2012
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24 Muir Road, Chullora NSW Core Plus InDustrIal FunD | 69
275 George Street, Brisbane Qld
70 | Charter hall ProPerty PortFolIo June 2012
Charter Hall Opportunity Fund No.4
Charter Hall’s Opportunity Fund No.4 (CHOF4) was launched in 2005. The majority of CHOF4’s assets have been realised, with one asset remaining in the portfoilo.
Fund Statistics
CHOF4 Equity Allocation
==> picture [537 x 167] intentionally omitted <==
----- Start of picture text -----
Aquilo, Oak Avenue, Mentone 3% Gepps X Trade Centre, Adelaide 1%
Gepps Cross Centre, Adelaide 9%
275 George Street, Brisbane 24%
Home HQ North Shore,
Artarmon 30%
Northbank Plaza, 69 Ann Street,
Brisbane 17%
Commercial development
Household retail development
Alluvion, 58 Mounts Bay Road, Residential developments
Perth 13% 420 George Street, Brisbane 3% Industrial/ showroom development
----- End of picture text -----
Property Portfolio Home HQ North Shore artarmon nsW
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located in artarmon, the award-winning home hQ north shore, is the first integrated household retail centre in Sydney’s lower north shore, offering a one-stop shopping destination for all home, entertainment, technology and lifestyle needs.
| suMMary | |
|---|---|
| year built (or refurbished) | 2010 |
| ownership | 100% |
| total gla (sqm) | 22,186 |
| Car spaces tenanCy statIstICs |
503 |
| Wale (by area) | 6.2 years |
| occupancy MaJor tenants |
97% gla (sQM) |
| JB hiFi | 1,289 |
| the good guys | 3,076 |
| Freedom | 3,171 |
Comprising approximately 22,186sqm of retail space with customer parking for 503 cars, the centre achieved the first 4 star Green Star rating for a household retail development in australia.
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Charter hall oPPortunIty FunD no.4 | 71
40 Creek Street, Brisbane Qld 72 | Charter hall ProPerty PortFolIo June 2012
Charter Hall Opportunity Fund No.5
Charter Hall’s Opportunity Fund No.5 (CHOF5) was launched in early 2007. The Fund’s mandate is to identify, acquire and deliver property development and value-add opportunities across various sectors within the Manager’s existing skill base, including commercial, industrial, household retail and infill residential sectors located primarily in capital cities and metropolitan markets across Australia and New Zealand.
Fund Statistics
CHOF5 Equity Allocation
==> picture [422 x 164] intentionally omitted <==
----- Start of picture text -----
Unallocated equity 3% Fund costs and Trustee undertakings 5%
The Park Megacentre, Hastings NZ 6% 1408 Anzac Parade,
Little Bay NSW 25%
Workzone, 186-202 Pier Street,
Perth WA 20%
Lacrosse Apartments, Stage 1,
Melbourne Docklands Vic 12%
40 Creek Street, Brisbane Qld 24% Aquilo, Oak Avenue, Mentone Vic 5%
----- End of picture text -----
Commercial developments Household retail development Residential developments Fund costs and Trustee undertakings Unallocated equity
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Charter hall oPPortunIty FunD no.5 | 73
Charter Hall Opportunity Fund No.5
little Bay Cove 1408 anzac Parade, little Bay nsW
Aquilo 34-94 oak avenue, Mentone Vic
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----- Start of picture text -----
artist’s Impression
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==> picture [260 x 143] intentionally omitted <==
one of sydney’s last remaining coastal communities, little Bay Cove is located on the southern-end of the prime eastern suburbs coastline, just 14 kilometres from the sydney CBD. situated on 13.6 hectares, this master planned community will feature approx. 570 dwellings, comprising architecturally designed apartments, courtyard homes plus vacant land lots, most with coastal views. the community is within walking distance to little Bay Beach, a local retail village and prestigious golf courses.
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suMMary
----- End of picture text -----
| status | estate creation works underway |
|---|---|
| ownership | 50% |
| Development alliance | ta global Berhad |
| no. of dwellings | >500 |
this master planned community located in the established bayside suburb of Mentone, approximately 20km southeast of Melbourne’s CBD, comprises 119 two storey architecturally designed townhouses designed to achieve a 5 star Energy Efficient rating.
the 3.33 hectare site is currently being developed and offers excellent proximity to Mentone Beach, parklands, public transport, shopping facilities, quality schools and local cafes.
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suMMary
----- End of picture text -----
| status | under construction and >92% pre-sold |
|---|---|
| ownership | 100% |
| no. of dwellings | 119 |
lacrosse Apartments - Stage 1 675 latrobe street Docklands, Melbourne Vic
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lacrosse is situated on latrobe street just 200m from the waters of Victoria harbour in the heart of Docklands. adjoining etihad stadium, lacrosse comprises 312 residential apartments in a 21 level, high rise tower with 1,370sqm of concourse level retail space. the plaza interfaces with latrobe street and the etihad stadium concourse, providing easy access to southern Cross station.
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----- Start of picture text -----
suMMary
----- End of picture text -----
| status | Completed and staged settlements underway |
|---|---|
| ownership | 100% |
| no. of dwellings | 312 |
74 | Charter hall ProPerty PortFolIo June 2012
40 Creek Street Brisbane Qld
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located in Brisbane’s ‘golden triangle’, 40 Creek street is situated in the heart of the financial precinct.
The building comprises 17 levels of A-grade office space over 12,000sqm and ground floor retail with 70 car spaces over two basement levels. the building is targeting a 4 star naBers energy rating and has been extensively refurbished.
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suMMary
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| status 100% leased (sale contract exchanged) | status 100% leased (sale contract exchanged) |
|---|---|
| ownership | 100% |
| total nla (sqm) | 12,373 |
| Typical foor plate (sqm) | 642 |
| Car spaces | 70 |
WORKZONE
202 Pier street, Perth Wa
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----- Start of picture text -----
artist’s Impression
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located on the rapidly growing Perth CBD fringe, ideally located opposite McIver railway station, WorkZone will offer two 7 storey campus style A-grade office buildings comprising 27,910sqm. situated close to transport and amenity, construction is underway with it’s design targeting a 5 star naBers energy rating and a 5 star Green Star – Office As Built V3 rating.
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suMMary
----- End of picture text -----
| status | 76% pre-lease to leighton Contractors |
|---|---|
| ownership | 100% |
| total nla (sqm) | 27,910 |
| Typical foor plate (sqm) | Building a: 2,440 BuildingB: 1,950 |
| Car spaces | 224 |
The Park Megacentre
700 Caroline road, hastings nZ
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the Park Megacentre enjoys a prime location on the CBD fringe in hastings, new Zealand. on completion it will comprise 25,000sqm of large format retail space with parking for 750 cars and is the premier integrated household centre within the region of hawkes Bay. the Warehouse group, Mitre 10 Mega, and Fishing Camping outdoors stores are complete and open for trade.
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suMMary
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| status | 73% of gla commited |
|---|---|
| ownership | 100% |
| total gla (sqm) | 25,500 |
| Car spaces | 800 |
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Charter hall oPPortunIty FunD no.5 | 75
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unlisted retail Funds
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68 Pitt Street,Sydney NSW
76 | Charter hall ProPerty PortFolIo June 2012
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unlIsteD retaIl FunDs | 77
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68 Pitt Street, Sydney NSW
78 | Charter hall ProPerty PortFolIo June 2012
Charter Hall Direct Property Fund
Charter Hall Direct Property Fund (CHDPF) is an unlisted open-ended property fund, open for investment, that aims to provide regular, tax effective income payable quarterly primarily from a diversified portfolio of direct property.
Fund Statistics
Top 10 tenants By gross income
| Australian Government | 10% | |
|---|---|---|
| Orica | 6% | |
| Barristers’ Chambers | 5% | |
| SMEC Aus Pty Ltd | 4% | |
| Davies Collison Cave | 4% | |
| Wilson Parking | 4% | |
| Meat & Livestock Australia | 4% | |
| Adecco | 3% | |
| Citigroup | 3% | |
| Troy Law Services | 2% |
Annual lease expiry By gross income
| By gross income | |||
|---|---|---|---|
| Vacant | 4% | ||
| FY13 | 11% | ||
| FY14 | 16% | ||
| FY15 | 20% | ||
| FY16 | 10% | ||
| FY17 | 7% | ||
| FY18 | 2% | ||
| FY19 | 3% | ||
| FY20 | 15% | ||
| FY21+ | 12% |
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Charter hall DIreCt ProPerty FunD | 79
Charter Hall Direct Property Fund
Sector diversification
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----- Start of picture text -----
Cash & Other 1%
Office 91%
Listed REITs 4%
Retail [1] 4%
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1 Reflects the fund’s remaining holding in the MWREF China Retail Fund
Asset diversification By current value
==> picture [410 x 140] intentionally omitted <==
----- Start of picture text -----
300 Adelaide Street, Brisbane 12% 1 Nicholson Street, Melbourne 15%
2 Wentworth Street, Parramatta 8%
68 Pitt Street, Sydney 27%
504 Pacific Hwy, St Leonards 7%
165 Walker Street, North Sydney 5%
71 Queens Road, Melbourne 5% 200 Queen Street, Melbourne 21%
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80 | Charter hall ProPerty PortFolIo June 2012
Geographical diversification By current value
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----- Start of picture text -----
Queensland 12% New South Wales 47%
Victoria 41%
----- End of picture text -----
Weighted Average lease Expiry By years
==> picture [365 x 201] intentionally omitted <==
----- Start of picture text -----
71 Queens Road, 8.3
Melbourne Vic
1 Nicholson Street, 5.4
Melbourne Vic
68 Pitt Street, 4.8
Sydney NSW
300 Adelaide Street, 4.2
Brisbane Qld
200 Queen Street, 4.0
Melbourne Vic
2 Wentworth Street, 3.2
Parramatta NSW
165 Walker Street, 2.4
North Sydney NSW
504 Pacific Hwy, 1.4
St Leonards NSW
WALE 4.3
----- End of picture text -----
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Charter Hall Direct Property Fund
June 2012 Capitalisation rate 8.35%
June 2012 Discount rate
9.61%
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----- Start of picture text -----
CHDPF JuN 2012 WALE WEIGHTED AVG RENT
OwNERSHIP VALuATION (yEARS) REVIEwS (%)
(%) (A$M)
68 Pitt Street,
100% 122.5 4.8 3.79%
sydney nsW
165 Walker Street
100% 24.5 2.4 4.25%
north sydney nsW
504 Pacific Highway
100% 33.5 1.4 4.14%
st leonards nsW
2 Wentworth Street,
100% 36.0 3.2 1.56%
Parramatta nsW
71 Queens Road,
100% 22.0 8.3 3.83%
Melbourne Vic
200 Queen Street,
100% 100.0 4.0 3.84%
Melbourne Vic
1 Nicholson Street, 100% 68.8 5.4 3.35%
Melbourne Vic
300 Adelaide Street, 100% 55.7 4.2 4.63%
Brisbane Qld
TOTAl/WEIGHTED
463.0 4.3 3.72%
AVERAGE
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82 | Charter hall ProPerty PortFolIo June 2012
200 Queen Street, Melbourne Vic
==> picture [255 x 31] intentionally omitted <==
Charter Hall Direct Property Fund
68 Pitt Street sydney nsW
==> picture [104 x 143] intentionally omitted <==
==> picture [154 x 143] intentionally omitted <==
situated in the centre of the sydney CBD on the corner of Pitt and Hunter Streets, the 26 level office building is in immediate proximity to Australia Square and Wynyard Station and benefits from four sides of natural light. the property was repositioned via refurbishment in December 2008.
| suMMary | |
|---|---|
| year built (or refurbished) | 1965 (refurbished in 2008) |
| grade | a |
| ownership | 100% |
| total nla (sqm) | 14,336 |
| Typical foor plate (sqm) | 549 |
| Car spaces ValuatIon (30 June 2012 BooK |
54 Value) |
| Valuation | $122.5 million |
| Value ($/sqm) | $8,545 |
| last external valuation date | 30 June 2012 |
| Valuer tenanCy statIstICs |
m3 Property |
| Wale (by income) | 4.8 years |
| occupancy MaJor tenants |
100% nla (sQM) |
| adecco | 1,846 |
| troy law services | 1,253 |
| nIB dental and eye care centre | 928 |
| rCr energy Pty ltd | 567 |
| Citigroup ltd | 414 |
165 Walker Street north sydney nsW
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the building comprises ground level entrance foyer and retail accommodation, lower ground office accommodation and six upper levels of office accommodation. Located in the North Sydney CBD adjacent to the Warringah expressway, it has views over sydney harbour.
==> picture [260 x 244] intentionally omitted <==
----- Start of picture text -----
suMMary
year built (or refurbished) 1963 (refurbished in 1988 and 2001)
grade B
ownership 100%
total nla (sqm) 5,279
Typical floor plate (sqm) 812
Car spaces 43
ValuatIon (30 June 2012 BooK Value)
Valuation $24.5 million
Value ($/sqm) $4,641
last external valuation date 30 June 2012
Valuer CBre
tenanCy statIstICs
Wale (by income) 2.4 years
occupancy 91.8%
MaJor tenant nla (sQM)
Meat and livestock australia ltd 3,171
----- End of picture text -----
84 | Charter hall ProPerty PortFolIo June 2012
504 Pacific Highway st leonards nsW
2 Wentworth Street Parramatta nsW
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a 14 level commercial building located on the south western alignment of the Pacific Highway with a rear south eastern frontage to nicholson street and located within the heart of the st leonards commercial precinct.
==> picture [260 x 244] intentionally omitted <==
----- Start of picture text -----
suMMary
year built (or refurbished) 1963 (refurbished in 1991)
grade B
ownership 100%
total nla (sqm) 11,091
Typical floor plate (sqm) 400 & 860
Car spaces 115
ValuatIon (30 June 2012 BooK Value)
Valuation $33.5 million
Value ($/sqm) $3,021
last external valuation date 30 June 2011
Valuer Knight Frank
tenanCy statIstICs
Wale (by income) 1.4 years
occupancy 85.9%
MaJor tenant nla (sQM)
InterContinental hotels 1,775
----- End of picture text -----
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The A-grade office property comprises nine upper levels of office and three levels of parking. located on the corner of Wentworth street and Parkes street in the south eastern commercial precinct of Parramatta.
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----- Start of picture text -----
suMMary
year built (or refurbished) 1990 (refurbished in 2011)
grade a
ownership 100%
total nla (sqm) 10,953
Typical floor plate (sqm) 1,023
Car spaces 118
ValuatIon (30 June 2012 BooK Value)
Valuation $36.0 million
Value ($/sqm) $3,287
last external valuation date 30 June 2012
Valuer savills
tenanCy statIstICs
Wale (by income) 3.2 years
occupancy 100%
MaJor tenant nla (sQM)
nsW state government 9,584
----- End of picture text -----
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Charter hall DIreCt ProPerty FunD | 85
Charter Hall Direct Property Fund
71 Queens Road Melbourne Vic
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This fully refurbished office building comprises 12 levels of office accommodation, ground level retail and basement, ground and mezzanine car parking is provided. located in Queens road in close proximity to st Kilda road, the building enjoys uninterrupted views over albert Park.
==> picture [260 x 244] intentionally omitted <==
----- Start of picture text -----
suMMary
year built (or refurbished) 1970 (various refurbishments)
grade B
ownership 100%
total nla (sqm) 8,443
Typical floor plate (sqm) 839
Car spaces 115
ValuatIon (30 June 2012 BooK Value)
Valuation $22.0 million
Value ($/sqm) $2,606
last external valuation date 30 June 2012
Valuer CBre
tenanCy statIstICs
Wale (by income) 8.3 years
occupancy 92.3%
MaJor tenants nla (sQM)
sMeC australia 6,025
----- End of picture text -----
200 Queen Street Melbourne Vic
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The A-grade commercial office building comprises nine levels of parking, ground level retail premises and office foyer and 25 levels of office accomodation. The building is well located close to the legal and financial precincts of Melbourne’s CBD, reflected in the calibre of tenants, mainly legal service providers.
==> picture [260 x 258] intentionally omitted <==
----- Start of picture text -----
suMMary
year built (or refurbished) 1982 (refurbished in 2007)
grade a
ownership 100%
total nla (sqm) 19,732
Typical floor plate (sqm) 813
Car spaces 413
ValuatIon (30 June 2012 BooK Value)
Valuation $100.0 million
Value ($/sqm) $5,069
last external valuation date 31 December 2011
Valuer Jones lang lasalle
tenanCy statIstICs
Wale (by income) 4.0 years
occupancy 100%
MaJor tenants nla (sQM)
Barristers Chambers ltd 6,127
australian government solicitors 3,270
----- End of picture text -----
86 | Charter hall ProPerty PortFolIo June 2012
1 Nicholson Street Melbourne Vic
300 Adelaide Street Brisbane Qld
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Melbourne’s first glass curtain wall facade ‘sky-scraper’, designed by Bates smart and constructed in 1958. the building comprises 18 levels of office, ground floor retail cafe and basement parking. The building enjoys fantastic views over Parliament gardens and state Parliament house and is located close to public transport hubs, both tram and train.
==> picture [260 x 258] intentionally omitted <==
----- Start of picture text -----
suMMary
year built (or refurbished) 1958 (refurbished in 2008)
grade B
ownership 100%
total nla (sqm) 16,965
Typical floor plate (sqm) 920
Car spaces 56
ValuatIon (30 June 2012 BooK Value)
Valuation $68.8 million
Value ($/sqm) $3,971
last external valuation date 30 June 2012
Valuer CBre
tenanCy statIstICs
Wale (by income) 5.4 years
occupancy 100%
MaJor tenants nla (sQM)
orica 7,374
Davies Collison Cave 5,078
----- End of picture text -----
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The B-grade commercial office building comprising of 19 upper levels of office accommodation, ground floor retail premises, foyer and two levels of basement parking. the building underwent a major refurbishment in 2000, and the foyer and lifts were upgraded in 2009. the building is well located within close proximity to the Brisbane river, Central station and the Queen street Mall.
==> picture [260 x 258] intentionally omitted <==
----- Start of picture text -----
suMMary
year built (or refurbished) 1974 (refurbished in 2000)
grade B
ownership 100%
total nla (sqm) 13,134
Typical floor plate (sqm) 650
Car spaces 41
ValuatIon (30 June 2012 BooK Value)
Valuation $55.7 million
Value ($/sqm) $4,243
last external valuation date 31 December 2011
Valuer Colliers International
tenanCy statIstICs
Wale (by income) 4.2 years
occupancy 95.4%
MaJor tenant nla (sQM)
transaction network services 1,302
slater & gordon 1,031
----- End of picture text -----
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Charter hall DIreCt ProPerty FunD | 87
181 St Georges Terrace, Perth WA
88 | Charter hall ProPerty PortFolIo June 2012
Charter Hall Diversified Property Fund
Charter Hall Diversified Property Fund (DPF), launched in November 2005, as an unlisted fund investing in quality assets across office, retail and industrial sectors throughout Australia, with properties generally valued in the range of $5 million to $30 million.
Fund Statistics
Top 4 tenants By gross income
==> picture [228 x 86] intentionally omitted <==
----- Start of picture text -----
Central Queensland 35%
University
DOF Subsea 20%
Schenker Australia 7%
Westlink Logistics 4%
----- End of picture text -----
Annual lease expiry
Geographical diversification By current value
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----- Start of picture text -----
Victoria 9% New South Wales 63%
Western Australia 28%
----- End of picture text -----
By gross income
==> picture [285 x 224] intentionally omitted <==
----- Start of picture text -----
Vacant 3%
FY13 0%
FY14 8%
FY15 10%
FY16 16%
FY17 1%
FY18 23%
FY19 4%
FY20 0%
FY21+ 35%
----- End of picture text -----
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Charter hall DIVersIFIeD ProPerty FunD | 89
Property Portfolio
June 2012 Capitalisation rate 8.39%
June 2012 Discount rate
9.53%
==> picture [540 x 186] intentionally omitted <==
----- Start of picture text -----
DPF JuN 2012 WALE WEIGHTED AVG RENT
OwNERSHIP (%) VALuATION (A$M) (yEARS) REVIEwS (%)
400 kent Street,
75% 40.3 9.3 3.79%
sydney nsW
53 Berry Street,
100% 19.0 2.6 3.75%
north sydney nsW
95 South Centre Road and
1 and 15 Jets Court, 100% 8.3 3.3 3.63%
tullamarine Vic
181 St Georges Terrace,
100% 26.6 5.6 4.50%
Perth Wa
TOTAl/WEIGHTED AVERAGE 94.2 6.2 4.00%
----- End of picture text -----
90 | Charter hall ProPerty PortFolIo June 2012
Charter Hall Diversified Property Fund
400 Kent Street sydney nsW
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situated in the western corridor of the CBD, 400 Kent street comprises an 11 level office building and retains the façade of a former heritage building.
==> picture [260 x 244] intentionally omitted <==
----- Start of picture text -----
suMMary
year built (or refurbished) 1992 (refurbished in 2005)
grade B
ownership 75%
total nla (sqm) 10,461
Typical floor plate (sqm) 866
Car spaces 10
ValuatIon (30 June 2012 BooK Value)
Valuation (75%) $40.3 million
Value ($/sqm) $5,138
last external valuation date 30 april 2012
Valuer savills
tenanCy statIstICs
Wale (by income) 9.3 years
occupancy 100%
MaJor tenant nla (sQM)
Central Queensland university 9,541
----- End of picture text -----
53 Berry Street north sydney nsW
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53 Berry Street, is a modern seven level office building situated on the high profile south western corner of Berry and Miller Streets in the north sydney CBD. the property has prominent retail exposure.
==> picture [260 x 257] intentionally omitted <==
----- Start of picture text -----
suMMary
year built (or refurbished) 1988
grade B
ownership 100%
total nla (sqm) 3,536
Typical floor plate (sqm) 550
Car spaces 30
ValuatIon (30 June 2012 BooK Value)
Valuation $19.0 million
Value ($/sqm) $5,373
last external valuation date 30 June 2012
Valuer CBre
tenanCy statIstICs
Wale (by income) 2.6 years
occupancy 84%
MaJor tenants nla (sQM)
national Credit Insurance Providers 550
ugl 549
----- End of picture text -----
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Charter hall DIVersIFIeD ProPerty FunD | 91
Charter Hall Diversified Property Fund
95 South Centre Road, 1 and 15 Jets Court tullamarine Vic
181 St Georges Terrace Perth Wa
==> picture [260 x 143] intentionally omitted <==
==> picture [105 x 143] intentionally omitted <==
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south Centre road and Jets Court combines a portfolio of three industrial leasehold investments located in the new Melbourne airport Business Park, adjacent to the Melbourne airport.
located at 181 st georges terrace, the property comprises a modern A-grade quality office building comprising of ground floor foyer and retail tenancies and six upper level office floors. The property’s location on st georges terrace is the premier address for financial and commercial activity within the Perth CBD.
==> picture [260 x 273] intentionally omitted <==
----- Start of picture text -----
suMMary
year built (or refurbished) 2003
grade n/a
ownership 100%
total nla (sqm) 10,462
Typical floor plate (sqm) n/a
Car spaces 134
ValuatIon (30 June 2012 BooK Value)
Valuation $8.3 million
Value ($/sqm) $795
last external valuation date 31 December 2011
Valuer savills
tenanCy statIstICs
Wale (by income) 3.2 years
occupancy 100%
MaJor tenants nla (sQM)
schenker 5,042
gibsons Freight 3,004
Jets transport 2,416
----- End of picture text -----
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----- Start of picture text -----
suMMary
year built (or refurbished) 2000
grade a
ownership 100%
total nla (sqm) 3,588
Typical floor plate (sqm) 535
Car spaces 14
ValuatIon (30 June 2012 BooK Value)
Valuation $26.6 million
Value ($/sqm) $7,414
last external valuation date 30 april 2012
Valuer CBre
tenanCy statIstICs
Wale (by income) 5.6 years
occupancy 100%
MaJor tenants nla (sQM)
DoF subsea 2,378
Westlink logistics 533
----- End of picture text -----
92 | Charter hall ProPerty PortFolIo June 2012
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400 Kent Street, Sydney NSW Charter hall DIVersIFIeD ProPerty FunD | 93
Australia Post Distribution Centre, Kingsgrove NSW
94 | Charter hall ProPerty PortFolIo June 2012
Charter Hall Direct Industrial Fund
Established in July 2010, the Charter Hall Direct Industrial Fund (DIF) is an unlisted property fund which seeks to invest directly in a diversified selection of Australian industrial assets. The Fund aims to provide investors with sustainable and stable, tax-advantaged income quarterly.
Investment Strategy
DIF’s strategy involves progressively acquiring a diversified portfolio of quality industrial properties in accordance with clear investment criteria. the investment criteria to be met before an acquisition is approved includes prime property grade, superior location close to transport links, high quality tenants, 100% occupancy and a minimum 10 year weighted average lease expiry (Wale).
Investment opportunities will be sought through Charter hall’s real estate investment pipeline together with external sources. DIF’s experienced asset management team will actively manage the Fund’s assets. over the course of the Fund’s life, properties will be reviewed to ensure consistency with the investment objectives, and where appropriate, properties may be sold to maximise returns with capital being repatriated to investors.
the Fund closed to investors in July 2012 and is expected to invest its remaining equity and debt capacity in line with its investment strategy and reach its target of $200 million of assets.
Top 5 tenants
By gross income
| Coles Distribution Centre | 29% | |
|---|---|---|
| Woolworths Distribution Centre |
26% | |
| Grace Worldwide | 19% | |
| Toll Holdings | 16% | |
| Australia Post | 10% |
Weighted Average lease Expiry By years
| Coles Distribution Centre | 15.9 | |
|---|---|---|
| Australia Post | 14.0 | |
| Toll Holdings | 13.4 | |
| Grace Worldwide | 11.1 | |
| Woolworths Distribution Centre |
8.5 | |
| WALE | 12.6 |
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Charter hall DIreCt InDustrIal FunD | 95
Direct Industrial Fund
Geographical diversification By current value
==> picture [465 x 444] intentionally omitted <==
----- Start of picture text -----
New South Wales 10% Victoria 42%
Queensland 19%
Western Australia 29%
Asset diversification
By current value
Australia Post Distribution Centre 10% Coles Distribution Centre 29%
Toll Holdings 16%
Grace Worldwide Logistics 19% Woolworths Distribution Centre 26%
June 2012 Capitalisation rate
8.08% 9.87%
----- End of picture text -----
June 2012 Discount rate 9.87%
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----- Start of picture text -----
DIF JuN 2012 WALE WEIGHTED AVG RENT
OwNERSHIP (%) VALuATION (A$M) (yEARS) REVIEwS (%)
australia Post Distribution Centre
100% 16.0 14.0 2.90%
Kingsgrove, nsW
toll Fleet & auto logistics Centre
100% 25.5 13.4 3.50%
altona, Vic
Woolworths Distribution Centre
100% 39.7 8.5 3.00%
hoppers Crossing, Vic
grace Worldwide logistics Facility
100% 30.0 11.1 3.50%
Willawong Qld
Coles Distribution Centre [1]
25% 44.8 15.9 2.75%
Perth airport, Wa
TOTAl/WEIGHTED
156.0 12.6 3.11%
AVERAGE
----- End of picture text -----
note
- Fund’s 25% interest
96 | Charter hall ProPerty PortFolIo June 2012
Toll Fleet & Auto Logistics Centre, Altona North Vic.
==> picture [255 x 31] intentionally omitted <==
Charter Hall Direct Industrial Fund
Australia Post Distribution Centre Kingsgrove nsW
==> picture [259 x 143] intentionally omitted <==
The Australia Post Distribution Centre comprises an office and warehouse facility of 6,729sqm that is situated on a site of 13,803sqm. Practical completion was reached in June 2011. the property is located within the Kingsgrove industrial precinct, some 20 kilometres south-west of the sydney CBD and features convenient access to the M5 Motorway, sydney airport and Port Botany.
==> picture [260 x 229] intentionally omitted <==
----- Start of picture text -----
suMMary
year built (or refurbished) 2011
grade Prime
ownership 100%
total gla (sqm) 6,729
Car spaces 166
ValuatIon (30 June 2012 BooK Value)
Valuation (upon completion) $16.0 million
Value ($/sqm) $2,378
last external valuation date 31 December 2011
Valuer savills
tenanCy statIstICs
Wale (by income) 14.0 years
occupancy 100%
MaJor tenant gla (sQM)
australia Post 6,729
----- End of picture text -----
Toll Fleet & Auto logistics Centre altona north Vic
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the property comprises a new logistics facility of 6,310sqm that is situated on a site of 49,515sqm. acquired in 2010, the property is located at altona north, 14 kilometres west of Melbourne’s CBD with direct access to the West gate Freeway, the Port of Melbourne and Melbourne airport. the sole tenant is a subsidiary of toll holdings, an asX listed company with a market capitalisation of $3.1 billion.
==> picture [260 x 230] intentionally omitted <==
----- Start of picture text -----
suMMary
year built (or refurbished) 2010
grade Prime
ownership 100%
total gla (sqm) 6,310
Car spaces 196
ValuatIon (30 June 2012 BooK Value)
Valuation $25.5 million
Value ($/sqm) $4,041 [1]
last external valuation date 30 June 2012
Valuer savills
tenanCy statIstICs
Wale (by income) 13.4 years
occupancy 100%
MaJor tenant gla (sQM)
toll holdings 6,310
----- End of picture text -----
- Reflects low site cover ratio of 13%
98 | CHARTER HAll ProPerty PortFolIo June 2012
Woolworths Distribution Centre hoppers Crossing Vic
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the Woolworths Distribution Centre is a modern logistics facility situated in the established industrial locality of hoppers Crossing, approximately 20kms south-west of Melbourne CBD. the facility comprises of 52,364sqm gla with canopies and loading docks of a further 5,354sqm. the sole tenant is Woolworths limited, the largest retail company in australia and new Zealand by market capitalisation and sales.
==> picture [260 x 229] intentionally omitted <==
----- Start of picture text -----
suMMary
year built (or refurbished) 2010
grade Prime
ownership 100%
total gla (sqm) 52,364
Car spaces n/a
ValuatIon (30 June 2012 BooK Value)
Valuation $39.7 million
Value ($/sqm) $757
last external valuation date 30 June 2012
Valuer savills
tenanCy statIstICs
Wale (by income) 8.5 years
occupancy 100%
MaJor tenant gla (sQM)
Woolworths ltd 52,364
----- End of picture text -----
Grace Worldwide logistics Facility Willawong Qld
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the grace Worldwide logistics Facility is located at Willawong, 17 kilometres south of Brisbane’s CBD with easy access and egress to the logan Motorway, Ipswich Motorway and the Brisbane CBD. the facility comprises a gla of 22,108sqm that is situated on a site of 38,929sqm. the sole tenant, grace Worldwide, is the largest records management, removals and storage company in australia.
==> picture [260 x 229] intentionally omitted <==
----- Start of picture text -----
suMMary
year built (or refurbished) 2011
grade Prime
ownership 100%
total gla (sqm) 22,108
Car spaces 88
ValuatIon (30 June 2012 BooK Value)
Valuation $30.0 million
Value ($/sqm) $1,371
last external valuation date 31 December 2011
Valuer m3 Property
tenanCy statIstICs
Wale (by income) 11.1 years
occupancy 100%
MaJor tenant gla (sQM)
grace Worldwide 22,108
----- End of picture text -----
==> picture [255 x 31] intentionally omitted <==
Charter hall DIreCt InDustrIal FunD | 99
Charter Hall Direct Industrial Fund
Coles Distribution Centre Perth airport Wa
==> picture [263 x 143] intentionally omitted <==
the Coles Distribution Centre is a state-of-the-art logistics facility located on a 25 hectare site strategically situated within Perth airport, ten kilometres east of the Perth CBD. the centre is located on horrie Miller Drive, midway from its intersection with tonkin highway and Perth International terminal. Perth airport is one of the major logistics hubs in Western australia, with tenants including Woolworths, toll, electrolux and linfox recently committing to large facilities along horrie Miller Drive.
==> picture [264 x 230] intentionally omitted <==
----- Start of picture text -----
suMMary
year built (or refurbished) 2008
grade Prime
ownership 25%
total gla (sqm) 81,647
Car spaces n/a
ValuatIon (30 June 2012 BooK Value)
Valuation (25%) $44.8 million
Value ($/sqm) $2,192
last external valuation date 30 June 2012
Valuer Jones lang lasalle
tenanCy statIstICs
Wale (by income) 15.9 years
occupancy 100%
MaJor tenant gla (sQM)
Coles group ltd 81,647
----- End of picture text -----
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100 | Charter hall ProPerty PortFolIo June 2012
Grace Worldwide Logistics Facility, Willawong Qld
==> picture [255 x 31] intentionally omitted <==
130 Stirling Street, Perth WA 102 | Charter hall ProPerty PortFolIo June 2012
130 Stirling Street Trust (CHIF7)
130 Stirling Street Trust (CHIF7) is Charter Hall’s seventh closed-end syndicate, an unlisted property trust providing exposure to in a high quality A-grade office building in the growth corridor of the Perth CBD fringe.
130 Stirling Street Perth Wa
==> picture [259 x 143] intentionally omitted <==
130 Stirling Street comprises four office levels plus commercial, retail tenancies with four levels of car parking. the property has achieved a 5.5 star naBers energy rating and is located on the northern fringe of the Perth CBD and has views to the city centre.
==> picture [260 x 272] intentionally omitted <==
----- Start of picture text -----
suMMary
year built (or refurbished) 2009
grade a
ownership 100%
total nla (sqm) 12,352
Typical floor plate (sqm) 2,700 to 3,075
Car spaces 242
ValuatIon (30 June 2012 BooK Value)
Valuation $82.5 million
Value ($/sqm) $6,680
last external valuation date 30 september 2011
Valuer Jones lang lasalle
tenanCy statIstICs
Wale (by income) 6.7 years
occupancy 100%
MaJor tenants nla (sQM)
Commonwealth government (Medicare) 5,306
Wa Police and nurses Credit society 4,150
hlB Mann Judd 1,079
----- End of picture text -----
Fund Statistics
Top 5 tenants By gross income
==> picture [262 x 109] intentionally omitted <==
----- Start of picture text -----
Commonwealth
43%
Government (Medicare)
Police & Nurses
31%
Credit Society
Downer EDI 11%
HLB Mann Judd 9%
Wilson Parking 4%
----- End of picture text -----
Annual lease expiry By gross income
==> picture [252 x 224] intentionally omitted <==
----- Start of picture text -----
Vacant 0%
FY13 0%
FY14 0%
FY15 1%
FY16 12%
FY17 0%
FY18 0%
FY19 73%
FY20 10%
FY21+ 4%
----- End of picture text -----
==> picture [255 x 31] intentionally omitted <==
Charter hall InVestMent FunD 7 | 103
==> picture [142 x 18] intentionally omitted <==
----- Start of picture text -----
144 Stirling Street, Perth WA
----- End of picture text -----
==> picture [585 x 31] intentionally omitted <==
----- Start of picture text -----
104 | Charter hall ProPerty PortFolIo June 2012
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144 Stirling Street Trust (CHIF8)
The Charter Hall Direct 144 Stirling Street Trust (CHIF8) is an unlisted property syndicate investing in a quality A-grade office building located in the Perth CBD. The Trust aims to provide investors with sustainable and stable, tax-advantaged income and the potential for capital growth.
Hatch Building 144 stirling street, Perth Wa
==> picture [260 x 143] intentionally omitted <==
The A-grade office building is located within the northern fringe of the Perth CBD, a rapidly emerging office precinct. The asset’s key tenant, include hatch, and Minister for Works who occupy a total of 98% of the building’s nla. the remainder of the building is occupied by a retail tenant (167sqm).
==> picture [260 x 272] intentionally omitted <==
----- Start of picture text -----
suMMary
year built (or refurbished) 2001
grade a
ownership 100%
total nla (sqm) 11,042
Typical floor plate (sqm) 2,400
Car spaces 243
ValuatIon
Valuation $54.8 million
Value ($/sqm) $4,963
last external valuation date 1 april 2012
Valuer Jones lang lasalle
tenanCy statIstICs
Wale (by income) 7.7 years
occupancy 100%
MaJor tenants nla (sQM)
hatch 7,349
Minister for Works 3,525
Wilson 201 bays
----- End of picture text -----
Fund Statistics
Top 3 tenants By gross income
| Hatch | 65% | |
|---|---|---|
| Minister for Works | 24% | |
| Wilson Parking | 9% |
Annual lease expiry By gross income
| By gross income | ||
|---|---|---|
| Vacant | 0% | |
| FY13 | 0% | |
| FY14 | 1% | |
| FY15 | 0% | |
| FY16 | 25% | |
| FY17 | 0% | |
| FY18 | 0% | |
| FY19 | 0% | |
| FY20 | 0% | |
| FY21+ | 74% |
==> picture [255 x 31] intentionally omitted <==
Charter hall InVestMent FunD 8 | 105
No.1 Martin Place, Sydney NSW 106 | Charter hall ProPerty PortFolIo June 2012
No.1 Martin Place Trust
No.1 Martin Place Trust (1MPT) was established in 2002 to acquire a 50% interest in the office tower and car park located at No.1 Martin Place, Sydney.
No.1 Martin Place sydney nsW
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Set in the financial heart of Sydney, No.1 Martin Place is one of Australia’s most esteemed business addresses. The 24 level office building has flexible floor plans, floor-to-ceiling windows and views of the surrounding city - all in the centre of the sydney CBD. Beneath the office tower is seven levels of basement car parking.
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suMMary
year built (or refurbished) 1999
grade a
ownership 50%
total nla (sqm) 40,237
Typical floor plate (sqm) 1,259-1,875
Car spaces 374
ValuatIon (31 DeCeMBer 2011 BooK Value)
Valuation (50%) $212.5 million
Value ($/sqm) $10,562
last external valuation date 30 June 2012
Valuer savills
tenanCy statIstICs
Wale (by income) 2.8 years
occupancy 93%
MaJor tenants nla (sQM)
Macquarie group 36,404
secure Parking n/a - carpark
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Annual lease expiry By gross income
| By gross income | |||
|---|---|---|---|
| Vacant | 7% | ||
| FY13 | 0% | ||
| FY14 | 0% | ||
| FY15 | 80% | ||
| FY16 | 0% | ||
| FY17+ | 13% |
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no.1 MartIn PlaCe trust | 107
685 LaTrobe Street, Melbourne Vic
108 | Charter hall ProPerty PortFolIo June 2012
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Charter Hall Group
Charter Hall Group has a 50% interest in an office development project at 685 LaTrobe Street, Melbourne.
685 laTrobe Street Melbourne Vic
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artist’s Impression
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artist’s Impression
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Charter hall and its joint venture partner, Flagship Pty ltd, will develop this A-grade 38,000sqm, 12 level office building with a prominent address on one of the CBD’s major thoroughfares, in Melbourne’s Docklands and only a 5 minute walk from southern Cross station. the approved development scheme is targeting a 5 star green star rating and a 5 star naBers energy rating and will also include over 1,000sqm of retail space and 136 car parks.
Charter hall is currently sourcing tenant pre-commitments for the project.
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suMMary
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| status | Pre-leasing |
|---|---|
| ownership | 50% |
| total nla (sqm) | 38,347 |
| Typical foor plate (sqm) | 3,300 |
| JV Partner | Flagship Pty ltd |
| Car spaces | 136 |
Charter hall grouP | 109
Index
Charter Hall Retail REIT (ASX:CQR)
Charter Hall Retail REIT (ASX:CQR)
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neW south Wales QueenslanD
Bathurst Chase, 39 William street, Bathurst 13 albany Creek shopping Centre, albany Creey 14
Cooma Woolworths, 12-20 Vale street, Cooma 13 tablelands Village, 14 Cook street, atherton 14
Cootamundra Woolworths, Parker lane, Cootamundra 13
Bribie Island shopping Centre, Cnr goodwin Drive and
14
earlwood Coles, 5-15 Clarke street, earlwood 13 hornsby road, Bongaree
Pemulwuy Marketplace, 250 greystanes rd, greystanes 13 Caboolture Park shopping Centre, 60-78 King street,
14
Mackenzie Mall, 179 Bourke street, glen Innes 13 Caboolture
goonellabah Village, 1 simeoni Drive, goonellabah 13 Currimundi Markets, Cnr nicklin Way and Bellara Drive,
14
Gordon Village Centre, 802-808 Pacific Highway, Gordon 13 Currimundi
Carnes hill Marketplace,Cnr Cowpasture and gatton Plaza, 114 spencer street, gatton 14
13
Kurrajong roads, horningsea Park gladstone shopping Centre, gladstone 14
Jerrabomberra Village, limestone Drive, Jerrabomberra 13 Bay Plaza, 27 torquay street, Pialba 14
Kings langley shopping Centre, James Cook Drive, 13 Kallangur Fair, 1473 anzac avenue, Kallangur 14
Kings langley
sydney st Markets, 31 gordon street, Mackay 14
highlands Marketplace, 197 old hume highway, Mittagong 13
Balo square, 85 Balo street, Moree 13 Mareeba Plaza, 241 Byrnes road, Mareeba 14
Morisset shopping Centre, 35 yambo street, Morisset 13 Moranbah Fair, street Francis Drive, Moranbah 14
lake Macquarie Fair, south street, Mt hutton nsW 13 allenstown Plaza, 42 Caroline street, rockhampton 14
Mount hutton Plaza, south street, Mt hutton nsW 13 Springfield Fair,Corner Topaz Rd and Springfield Parkway,
14
Mudgee Metroplaza, 84-86 Mortimer street, Mudgee 13 Springfield
sunnyside Mall, Cnr Wollumbin & Brisbane street,
13
Murwillumbah south australIa
narrabri Coles, 154 Maitland street, narrabri 13 Mile end homemaker Centre, 121-150 railway terrace,
15
Kierath’s shopping square , 76 Dandaloo street, narromine 13 Mile end
orange Central, 227-237 summer street, orange 13 Wharflands Plaza, Tassie Street, Port Augusta 15
Parkes Metroplaza, 299 Clarinda street, Parkes 13 renmark Plaza, Corner renmark avenue and twentieth
15
rosehill Woolworths, 28-30 oak street, Parramatta 13 street, renmark
rutherford Marketplace, 1 hillviews st, rutherford 13
gowrie street Mall, 1 gowrie street, singleton 13 Western australIa
thornleigh Marketplace, 2-12 the Comenarra Pkwy, 13 albany Plaza, 38 albany highway albany 15
thornleigh
Ballajura Central, cnr Hamelin & Bellefin Drive Ballajura 15
tumut Coles, 29-39 russel street, tumut 13 Carnarvon Central, robinson street Carnarvon 15
Wellington Coles, 128-140 Percy st, Wellington 13
Collie Central, Johnson street, Collie 15
West ryde Marketplace,14 anthony rd, West ryde 13
Windsor Marketplace,6-16 Kable st, Windsor 13 esperance Boulevard, Corner Forrest & Windich street 15
esperance
Woolworths, Boorowa street, young 13
Kalgoorlie Central, Corner hannan and Wilson street
15
Kalgoorlie
VICtorIa
Coles, Corner guildford road and Caledonian avenue
Coles, 96-118 Main street, Bairnsdale 14 Maylands 15
Pakington strand 95-103 Pakington st, geelong West 14
Coles, Corner ensign and earl street narrogin 15
safeway, Cnr shadford and nolan street, Kerang 14
south hedland shopping Centre, throssell road south
Kyneton shopping Centre, 7 Jennings street, Kyneton 14 hedland 15
olive tree shopping Centre, 118 Main street, lilydale 14 swan View shopping Centre, Corner gladstone and
15
Coles, 92 albert street, Moe 14 Marlboro street swan View
Kmart, Cnr albert street & Britter lane, Moe 14 Wanneroo Central, 950 Wanneroo road Wanneroo 15
home hQ nunawading,
14
327-394 Whitehorse road, nunawading
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110 | Charter hall ProPerty PortFolIo June 2012
Charter Hall Retail REIT (ASX:CQR)
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aCt
Woolworths, 1 Dickson Place, Dickson 16
Manuka terrace, Corner Flinders Way and Franklin street,
16
Manuka
erindale shopping Centre, 50-68 Comrie street,
16
Wanniassa
tasManIa
Coles, 165a elphin road, newstead 16
Woolworths, 142 nelson street, smithton 16
Woolworths, 68 goldie street, Wynyard 16
PolanD
arena, gliwice 17
Borek, Wroclaw 17
Dabrowka, Katowice 17
turzyn, szczecin 17
Zakopianka, Krakow 17
gerMany
alt Chemnitz Center, Chemnitz 17
Burgaupark Jena, Jena 17
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Non-core Assets
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neW ZealanD
new Zealand properties 18
unIteD states
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| unIteD states |
|
|---|---|
| Centennial Crossroads Plaza, nevada hilltop Village, Colorado Kleinwood Center, texas |
18 18 18 |
| Murray landing, south Carolina | 18 |
| northlake Promenade, georgia | 18 |
| Powers Ferry Kroger, georgia | 18 |
| Vineyard shoppingCenter, Florida | 18 |
| Woodstock Crossing, georgia | 18 |
Direct Retail Fund (DRF)
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neW south Wales
lake Macquarie Fair and Mount hutton
27
shopping Centre, newcastle
Menai Central, sydney 27
VICtorIa
home hQ nunawading,
28
327-394 Whitehorse road, nunawading
QueenslanD
Bunnings Warehouse stafford, 450 stafford road, stafford 28
home hQ Ipswich, Ipswich 29
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Charter Hall Office Trust (CHOT)
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neW south Wales
CitiCentre, 2 Park street, sydney 35
no.1 Martin Place, sydney 35
allianz Centre, 2 Market street, sydney 36
59 goulburn street, sydney 36
the Denison, 65 Berry street, north sydney 37
Charter grove, 29-57 Christie street, st leonards 37
avaya house, 123 epping road, Macquarie Park 38
Wentworth Place, 9 Wentworth street, Parramatta 38
Australian Taxation Office, 266 King Street, Newcastle 39
VICtorIa
argus Centre, 300 latrobe street, Melbourne 39
150 lonsdale street, Melbourne 40
171 Collins street, Melbourne 40
5 Queens road, Melbourne 41
Australia Taxation Office, 6-20 Gladstone Street, Moonee Ponds 41
QueenslanD
175 eagle street, Brisbane 42
Capital hill, 83-85 george street, Brisbane 42
Western australIa
eastpoint Plaza, 233-237 adelaide terrace, Perth 43
aCt
australia Place, 14 Mort street, Canberra 43
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Charter hall DIVersIFIeD ProPerty FunD InDeX | 111
Index
Core Plus Office Fund (CPOF)
| neW south Wales | ||
|---|---|---|
| 167 Macquarie street, sydney | 50 | |
| st george Bank, 4-16 Montgomery street, Kogarah | 50 | |
| 331 and 333 george street, sydney | 51 | |
| VICtorIa | ||
| 11-33 exhibition street, Melbourne | 51 | |
| 570 Bourke street, Melbourne | 52 | |
| QueenslanD | ||
| Brisbane square, Brisbane | 52 | |
| 275 george street, Brisbane | 53 | |
| northBank Plaza, 69 ann street, Brisbane | 53 | |
| south australIa | ||
| 51 Pirie street, adelaide | 54 | |
| Bank sa, 97 William street, adelaide | 54 | |
| BhP house, 225 st georges terrace, Perth 109 st georges terrace, Perth |
55 55 |
Charter Hall Opportunity Fund No.4 (CHOF4)
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neW south Wales
home hQ north shore, artarmon 71
Charter Hall Opportunity Fund No.5 (CHOF5)
neW south Wales
little Bay, 1408 anzac Parade, little Bay 74
VICtorIa
aquilo, 34-94 oak avenue, Mentone 74
lacrosse apartments – stage 1, Melbourne Docklands 74
QueenslanD
40 Creek street, Brisbane 75
Western australIa
WorKZone, 202 Pier street, Perth 75
neW ZealnD
home hQ hastings, 700 Caroline road, hastings 75
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Core Plus Industrial Fund (CPIF)
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neW south Wales
Volkswagen, 24 Muir road, Chullora 61
Chatswood Business Park,
61
372 eastern Valley Way, Chatswood
56 anzac street, Chullora 62
VICtorIa
41-57 south Centre road, Melbourne airport Business
62
Park, tullamarine
130-138 link road, Melbourne airport Business Park,
63
tullamarine
55-65 sky road, Melbourne airport Business Park,
63
tullamarine
309 Fitzgerald road, Derrimut 64
QueenslanD
30 Main Beach road, Pinkenba 64
200 holt street, Pinkenba 65
140-160 robinson road, geebung 65
toll, 7 Viola Place, Brisbane airport 66
Citiport Industrial estate,17 sugarmill road, Meeandah 66
Western australIa
Coles Distribution Centre, 136 horrie Miller Drive, Perth 67
123-135 Kewdale road, Kewdale 67
tasManIa
Metcash Distribution Centre, 218 Bannister road,
68
Canning Vale
Woolworths Distribution Centre, 4-20 translink avenue,
68
launceston
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112 | Charter hall ProPerty PortFolIo June 2012
Direct Property Fund (CHDPF)
130 Stirling Street (CHIF7)
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neW south Wales
68 Pitt street, sydney 84
165 Walker street, north sydney 84
504 Pacific Highway, St Leonards 85
2 Wentworth street, Parramatta 85
VICtorIa
71 Queens road, Melbourne 86
200 Queen street, Melbourne 86
1 nicholson street, Melbourne 87
QueenslanD
300 adelaide street, Brisbane 87
Diversified Property Fund (DPF)
neW south Wales
400 Kent street, sydney 91
53 Berry street, north sydney 91
VICtorIa
south Centre road and Jets Court,
92
Melbourne airport Business Park, tullamarine
Western australIa
181 st georges terrace, Perth 92
Direct Industrial Fund (DIF)
neW south Wales
australia Post Distribution Centre, Kingsgrove 98
VICtorIa
toll Fleet and auto logistics Centre, altona north 98
QueenslanD
Woolworths Distribution Centre, hoppers Crossing 99
grace Worldwide logistics Facility, Willawong 99
Coles Distribution Centre, horrie Miller Drive, Perth airport 100
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Western australIa
130 stirling street, Perth 103
144 Stirling Street (CHIF8)
Western australIa
hatch Building, 144 stirling street, Perth 105
No.1 Martin Place Trust (1MPT)
neW south Wales
no.1 Martin Place, sydney 107
Charter Hall Group
VICtorIa
685 latrobe street, Melbourne 109
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Charter hall DIVersIFIeD ProPerty FunD InDeX | 113
No.1 Martin Place , Sydney NSW Australia
114 | Charter hall ProPerty PortFolIo June 2012
Further Information
listed enquiries
Kylie ramsden head of listed Investor relations +61 2 8295 1016 [email protected]
Unlisted enquires
nick Kelly head of Investor relations +61 2 8908 4028 [email protected]
Disclaimer:
this document has been prepared by Charter hall group (Charter hall limited (aBn 57 113 531 150) and Charter hall Funds Management limited (aBn 31 082 991 786) (aFsl 262861) as the responsible entity for Charter hall Property trust (arsn 113 339 147) (together, the Charter hall group or the group). It is a summary and does not purport to be complete. It is not intended to be relied upon as advice to investors or potential investors and does not take into account the investment objectives, financial situation or needs of any particular investor. a reader should, before making any decisions in relation to their investment or potential investment in the Charter hall group, seek their own professional advice. This document is not an offer or invitation for subscription or purchase of securities or other financial products.
Indications of, and guidance on, future earnings and financial position and performance are “forward-looking statements”. Due care and attention has been used in the preparation of any forward-looking statements. such forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors, many of which are beyond the control of the group, that may cause actual results to differ materially from those expressed or implied in such statements. there can be no assurance that actual outcomes will not differ materially from these statements. except as required by law, the group does not undertake any obligation to publicly update or review any forward - looking statements, whether as a result of new information or future events.
Charter Hall fund’s currently accepting investments
The responsible entity of Charter Hall Direct Property Fund (“CHDPF”) and Charter Hall Property Securities Fund (“CHPSF”) is Charter Hall Direct Property Management Limited (“CHDPML”) (ABN 56 073 623 784, AFSL 226849). CHDPML has issued a product disclosure statement (“PDS”) for CHDPF dated 20 December 2010 and CHPSF dated 19 November 2010. The PDSs for the aforementioned funds (“Funds”) set out the offer to apply for units in the Funds. If you are considering an investment in a Fund or Funds you should read the relevant PDs in its entirety and consider the information set out in the PDs in relation to the offer. you can request a copy of a Fund’s PDs, free of charge, by calling ChDPMl on 1300 652 790.
this information has been made available to the recipient for information purposes only. It is not intended to be, and does not constitute a product disclosure statement, prospectus, short form prospectus or profile statement as those terms are defined in the Corporations Act. It does not constitute an offer for the issue, sale or purchase of any securities, or any recommendation in relation to investing in any asset. This document has been prepared without taking account of any particular investor’s objectives, financial situation or needs. For this reason, it is important that you consider the PDs for the offer and consider whether to seek appropriate professional advice before making any investment decision. entities within the Charter hall group may receive fees for managing the assets of, and providing resources to each Fund. For more detail on fees, see the relevant PDs.
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Charter hall DIVersIFIeD ProPerty FunD InDeX | 115
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www.charterhall.com.au