CHARTER HALL GROUP — Interim / Quarterly Report 2014

Aug 26, 2014

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Charter Hall Property Portfolio Period ending 30 June 2014

2 / Contents

Charter Hall Group 4 Our Funds, Partnerships & Mandates 6 Offce Charter Hall Offce Trust (CHOT) Core Plus Offce Fund (CPOF) Offce Mandates Charter Hall Direct Property Fund (CHDPF) 144 Stirling Street (CHIF8) Charter Hall Direct WorkZone Trust Charter Hall Direct VA Trust (CHIF 10) 685 LaTrobe Street Melbourne 10 24 38 40 50 52 54 56 Retail Charter Hall Retail REIT (CQR) Listed REIT Retail Partnership No.1 Retail Partnership No.2 BP Fund No.1 BP Fund No.2 Charter Hall Direct BW Trust Keperra Square 60 68 70 72 74 76 82	Industrial Core Plus Industrial Fund (CPIF) Direct Industrial Fund (DIF1) Direct Industrial Fund No.2 (DIF2) Core Logistics Partnership (CLP) Charter Hall Direct CDC Trust 86 108 116 124 126
	Diversifed PFA Diversifed Trust (PFA) Charter Hall Opportunity Fund No.5 (CHOF5) Diversifed Property Fund (DPF) 130 138 140
	Index 142
	Further Information 147

(Cover) 171 Collins Street Melbourne, Vic

Charter Hall Property Portfolio / 30 June 2014 / 3

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management $11.5 billion

Number of properties 209 Occupancy[1 ] 97% Weighted Average Lease Expiry (WALE)[1] 7.3 years Weighted Average Rental Review[1 ] 3.8%”

Note:

Wanneroo Central, Wanneroo WA

1. Represents entire Charter Hall Funds Management platform

4 / Charter Hall Group

Charter Hall Group

Charter Hall Group has grown, since its launch in 1991, to become one of Australia’s leading property groups, with a total property portfolio of $11.5 billion.

We own and manage 209 properties around Australia, including office buildings, supermarket anchored retail centres, and a rapidly growing stable of industrial assets, on behalf of our institutional, wholesale and retail investors.

Our integrated business model, coupled with our highly skilled and motivated team across investment management, asset management, property management, and project delivery produces sustainable returns for

our investors, together with positive experiences for our tenants and the community.

As a Group, we listed on the Australian Securities Exchange in 2005 under ASX Code: CHC. Charter Hall Group is a stapled security comprising a share in Charter Hall Limited (CHL), the operating business, and a unit in Charter Hall Property Trust (CHPT), which predominantly invests in the funds and partnerships the Group manages.

Charter Hall Funds Management Platform

As at 30 June 2014

Total Offce 18% 57% 25%	Offce 57%
	Retail 25%
	Industrial 18%
	Retail Industrial
No. of properties 209 55	96 58
NLA 3,287,256sqm 1,069,971sqm 786,563sqm 1,430,722sqm
Value $11.5bn $6.5bn $2.9bn $2.1bn

Charter Hall Property Investment Portfolio[1]

As at 30 June 2014

Total Offce 25% 42% 33%
	Offce 42%
	Retail 33%
	Industrial 25%
	Retail Industrial
Investments $720m $301m	$238m $181m

Note:

1. Includes Charter Hall Group direct property and investment in property funds, excludes development investments and investment in CIP

Charter Hall Property Portfolio / 30 June 2014 / 5

Charter Hall aims to outperform investment benchmarks, achieving high levels of tenant retention and rental growth across 209 assets[1] .

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Northern Territory
47
Queensland
28
Western Australia
10
South Australia
76
New South Wales
5
ACT
38
Victoria
5
Tasmania
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New South Wales 76properties Offce Retail Industrial 21 40 15 Victoria 38properties Offce Retail Industrial 10 12 16	South Australia 10properties Offce Retail Industrial 4 3 3 Queensland 47properties Offce Retail Industrial 9 21 17	Tasmania 5properties Offce Retail Industrial 1 3 1 Western Australia 28properties Offce Retail Industrial 9 13 6
			Australian Capital Territory 5properties
			Offce Retail 1 4

Note:

1. Includes offshore assets. 7 Europe, 3 USA and 3 New Zealand.

6 / Our funds and partnerships

Our funds, partnerships & mandates

As at 30 June 2014

Office

Offce
Charter Hall Offce Trust (CHOT)
Assets	18
Gross property assets	$2,321 million
Balance sheet gearing	45.8%
Capitalisation Rate	7.50%
WALE	5.8 years
Occupancy	95.9%
Charter Hall co-investment	$172.9 million (14.3%)
Core Plus Offce Fund (CPOF)1
Assets	16
Gross property assets	$2,062 million
Balance sheet gearing	31.6%
Capitalisation Rate	7.53%
WALE	6.4 years
Occupancy	95%
Charter Hall co-investment	$116.9 million (9.9%)
Charter Hall Direct Property Fund (CHDPF)
Assets	8
Gross property assets	$483 million
Balance sheet gearing	46.7%
Capitalisation Rate	8.10%
WALE	4.3 years
Occupancy Charter Hall co-investment 144 Stirling Street Trust (CHIF8)	93% $11.0 million (4.2%)
Assets	1
Gross property assets	$62 million
Balance sheet gearing	36.1%
WALE	5.7 years
Occupancy	100%
Charter Hall Direct WorkZone Trust (CHIF9)
Assets	1
Gross property assets	$124.5 million
Balance sheet gearing	43.3%
WALE	11.2 years
Occupancy 100% Charter Hall Direct VA Trust (CHIF10)
Assets Gross property assets	1 $65.9 million
Balance sheet gearing	42.8%
WALE	11.8 years
Occupancy	100%

	Retail
	Charter Hall Retail REIT (CQR)			Listed REIT
	Grocery anchored Australian portfolio			77
	Gross property assets			$1,989 million
	Balance sheet gearing3			33.2%
	Capitalisation Rate			7.65%
	WALE (all tenancies)			7.4 years
	Occupancy			98.5%
	Charter Hall co-investment	$129.9		million (10.2%)
	Retail Partnership No.1 (RP1)2
	Assets			10
	Gross property assets			$425 million
	Balance sheet gearing			40.1%
	Capitalisation Rate			7.25%
	WALE			11.6 years
	Occupancy			98.8%
	Bateau Bay Square (RP2)
	Assets			1
	Gross property assets			$180.0 million
	Balance sheet gearing			42.9%
	WALE			3.7 years
	Occupancy			97.6%
	Charter Hall co-investment		$20.7	million (20.0%)
	BP Fund
	Assets			6
	Gross property assets			$193.9 million
	Balance sheet gearing			46.4%
	Capitalisation Rate			7.11%
	WALE			10.3 years
	Occupancy			100%
	Charter Hall co-investment		$17.2	million (16.8%)
	BP2 Fund No.23
	Assets			5
	Gross property assets			$128.1 million
	Balance sheet gearing			0%
	Capitalisation Rate			7.30%
	WALE			12.0 years
	Occupancy			100%
	Charter Hall co-investment		$48.4 million (100%)
	Charter Hall Direct BW Trust (CHIF11)
	Assets			4
	Gross property assets			$67.9 million
	Balance sheet gearing			48.7%
	Capitalisation Rate			7.22%
	WALE			10.8 years
	Occupancy			100%
	Keperra Square
	Assets			1
	Gross property assets			$65 million
	WALE			4.0 years
	Occupancy			95.7%
	Charter Hall co-investment		$22.1	million (35.1%)

Note:

1. Includes income support

2. Includes 50% assets owned by CQR that are included in its portfolio statistics 3. Represents on completion

Charter Hall Property Portfolio / 30 June 2014 / 7

Industrial

Industrial
Core Plus Industrial Fund (CPIF)
Assets	32
Gross property assets	$906.6 million
Balance sheet gearing	24%
Capitalisation Rate	7.97%
WALE	8.4 years
Occupancy	100%
Charter Hall co-investment	$72.2 million (11.7%)
Core Logistics Partnership (CLP)
Assets	13
Gross property assets	$608.3 million
Balance sheet gearing Capitalisation Rate	20.1% 7.70%
WALE	10.9 years
Occupancy	98.2%
Charter Hall co-investment Direct Industrial Fund No.1 (DIF1)	$84.8 million (19.1%)
Assets	7
Gross property assets	$222.5 million
Balance sheet gearing Capitalisation Rate	35.1% 7.70%
WALE	11.3 years
Occupancy	100%
Charter Hall co-investment Direct Industrial Fund No.2 (DIF2)	$0.2 million (0.2%)
Assets	7
Gross property assets	$179.1 million
Balance sheet gearing	24.2%
Capitalisation Rate	7.74%
WALE	12.3 years
Occupancy	100%
Charter Hall co-investment	$0.3 million (0.3%)
Charter Hall Direct CDC Trust (CHIF12)
Assets	1
Gross property assets	$79.6 million
Balance sheet gearing	46.6%
WALE	12.7 years
Occupancy	100%
Charter Hall co-investment	$21.0 million (24%)

Diversified

Diversifed
PFA Diversifed Trust (PFA)
Assets	10
Gross property assets	$316.5 million
Balance sheet gearing	49.1%
Capitalisation Rate	9.37%
WALE	3.2 years
Occupancy	92%
Charter Hall co-investment	$0.2 million (0.1%)
Charter Hall Opportunity Fund No.5	(CHOF5)
Assets	1
Charter Hall co-investment	$7.0 million (15%)
Diversifed Property Fund (DPF)
Assets	3
Gross property assets	$8.2 million
Balance sheet gearing	44.3%
Capitalisation Rate	10.00%
WALE	5.5 years
Occupancy	100%
Charter Hall co-investment	$1.8 million (19.6%)
Charter Hall Umbrella Fund (CHUF)
Assets	Fund of funds
Gross property assets	$17 million
Balance sheet gearing	23.2%
WALE	8.0 years
Occupancy	99%
Charter Hall co-investment1	$0.7 million (24.2%)

Note:

1. Refects Charter Hall co-investment post 30 June 2014 following capital return.

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8 / Office
Office
171 Collins Street Melbourne, Vic
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Charter Hall Property Portfolio / 30 June 2014 / 9
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No.1 Martin Place, Sydney NSW

Charter Hall Property Portfolio / 30 June 2014 / 11

Charter Hall Office Trust

Charter Hall Office Trust is a leading unlisted wholesale real estate partnership focused on investing in high grade office buildings predominantly located in major business districts across Australia.

Top 10 tenants

By gross income

						18%		Australian Government
					15%			Macquarie Group Ltd
				7%				Telstra Corporation Ltd
			3%					Allianz
			3%					Citigroup
			3%					Wilson Parking
2%								DLA Piper
2%								BHP
2%								Secure Parking
2%								Aurizon
		4%						Vacant
		3%						CY14
	7%							CY15
	11%							CY16
	11%							CY17
						64%		CY18+

12 / Office / Charter Hall Office Trust

Fund Statistics

Asset diversification

By current value

Asset diversifcation By current value
No.1 Martin Place, Sydney NSW	18%
2 Park St, Sydney NSW	17%
2 Market St, Sydney NSW	8%
59 Goulburn St, Sydney NSW	4%
The Denison 65 Berry Street, North Sydney NSW	4%
Charter Grove 29-57 Christie St, St Leonards NSW	4%
Avaya House 123 Epping Rd, North Ryde NSW	3%
Wentworth Place 9 Wentworth St, Parramatta NSW	1%
ATO 266 King St, Newcastle NSW	2%
Argus Centre 300 LaTrobe St, Melbourne Vic	8%
150 Lonsdale St, Melbourne Vic	6%
171 Collins St, Melbourne Vic	6%
5 Queens Rd, Melbourne Vic	3%
ATO Moonee Ponds 6-20 Gladstone St, Melbourne Vic	4%
175 Eagle St, Brisbane Qld	7%
Capital Hill 83-85 George St, Brisbane Qld	2%
Eastpoint Plaza 233-237 Adelaide Terrace, Perth WA	3%

Tenant type diversification By gross income

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13% 69% [1]
18%
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	Investment grade	69%
	Government	18%
	Other	13%

NABERS Energy Rating (excludes GreenPower)

No.1 Martin Place, Sydney NSW	
2 Park St, Sydney NSW	
2 Market St, Sydney NSW	
59 Goulburn St, Sydney NSW	
The Denison, North Sydney NSW	
Charter Grove, St Leonards NSW	
Avaya House, North Ryde NSW	
Wentworth Place, Parramatta NSW	
ATO, Newcastle NSW	

Argus Centre 300 LaTrobe St, Melbourne Vic	
150 Lonsdale St, Melbourne Vic	
5 Queens Rd, Melbourne Vic	
ATO Moonee Ponds, Melbourne Vic	
175 Eagle St, Brisbane Qld	
Capital Hill, Brisbane Qld	
Eastpoint Plaza, Perth WA	
Australia Place, Canberra ACT	

Note:

1. Includes widely recognised professional service firms

Charter Hall Property Portfolio / 30 June 2014 / 13

Property Portfolio

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June 2014 Capitalisation Rate 7.50% June 2014 Discount Rate 8.98%”

		CHOT	CHOT	Jun 20141	WALE (years)2	WALE (years)2	Weighted Avg
		Ownership %		valuation A$M			rent reviews (%)
No.1 Martin Place, Sydney NSW		100%		431.9	8.5		4.8%
2 Park St, Sydney NSW		50%		396.9	6.5		3.9%
2 Market St, Sydney NSW		50%		179.4	4.4		4.0%
59 Goulburn St, Sydney NSW3		100%		87.5	3.2		3.8%
The Denison 65 Berry Street, North Sydney NSW		100%		93.9	5.1		4.0%
Charter Grove 29-57 Christie St, St Leonards NSW3		100%		93.1	4.0		3.7%
Avaya House 123 Epping Rd, North Ryde NSW		100%		78.0	2.8		3.7%
Wentworth Place 9 Wentworth St, Parramatta NSW		100%		26.6	3.9		4.3%
ATO 266 King St, Newcastle NSW		100%		47.0	2.8		3.5%
Argus Centre 300 LaTrobe St, Melbourne Vic		100%		173.9	8.3		3.6%
150 Lonsdale St, Melbourne Vic		100%		138.6	3.2		3.7%
171 Collins St, Melbourne Vic		50%		130.3	9.8		3.7%
5 Queens Rd, Melbourne Vic		100%		66.1	4.3		3.9%
ATO Moonee Ponds 6-20 Gladstone St, Melbourne Vic		100%		80.1	5.6		4.0%
175 Eagle St, Brisbane Qld		100%		163.9	5.4		4.1%
Capital Hill 83-85 George St, Brisbane Qld		100%		46.8	1.8		4.0%
Eastpoint Plaza 233-237 Adelaide Terrace, Perth WA		100%		61.8	3.9		3.9%
Australia Place 14 Mort St, Canberra ACT		100%		25.6	1.5		0.0%
Total/Weighted average				2,321.2	5.8		4.0%

Note:

1. Book Valuation as at 30 June 2014

2. Based on executed lease and Heads of Agreement

3. Assets sold July 2014

Argus Centre 300 LaTrobe Street, Melbourne Vic

Charter Hall Property Portfolio / 30 June 2014 / 15

No.1 Martin Place Sydney NSW

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Prime office building located in the Sydney CBD on the prestigious GPO site in Martin Place.

Summary

Summary
Year built (or refurbished)		1999
Grade		Prime
Ownership		100%
Total NLA (sqm)		40,237
Typical foor plate (sqm)		1,672
Car spaces		374
Valuation (30 June 2014)
Valuation		$431.9 million
Value ($/sqm)		$10,190
Last external valuation date		31 December 2013
Valuer		Colliers
Tenancy statistics
WALE (by income)		8.5 years
Occupancy		98.1%
Major tenant		NLA (sqm)
Macquarie Group Ltd		31,416
DLA Piper		5,499

CitiCentre 2 Park Street, Sydney NSW

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Premium grade 47 level office tower located in the Sydney CBD directly opposite the Queen Victoria Building and Sydney Town Hall.

Summary

Summary
Year built (or refurbished)		2000
Grade		Premium
Ownership		50%
JV partner		General Property Trust (GPT)
Total NLA (sqm)		73,582
Typical foor plate (sqm)		1,865
Car spaces		284
Valuation (30 June 2014)
Valuation (50%)		$396.9 million
Value ($/sqm)		$10,736
Last external valuation date		31 December 2013
Valuer		CBRE
Tenancy statistics
WALE (by income)		6.5 years
Occupancy		91.7%
Major tenants		NLA (sqm)
Citi		18,483
Gilbert and Tobin		9,280
QBE		5,172

16 / Office / Charter Hall Office Trust

Allianz Centre 2 Market Street, Sydney NSW

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A 24 level, A-grade building with an adjoining seven level forecourt building located in the western corridor of the Sydney CBD.

Summary

Summary
Year built (or refurbished)		1991 (2007 forecourt)
Grade		A
Ownership		50%
JV partner		Allianz
Total NLA (sqm)		39,818
Typical foor plate (sqm)		1,954 (main)
Car spaces		301
Valuation (30 June 2014)
Valuation (50%)		$179.4 million
Value ($/sqm)		$8,966
Last external valuation date		31 December 2013
Valuer		Knight Frank
Tenancy statistics
WALE (by income)		4.4 years
Occupancy		90.5%
Major tenants		NLA (sqm)
Allianz		18,909
Caltex		9,201
Macquarie Telecom		3,922

59 Goulburn Street[1] Sydney NSW

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A 28 level, A-grade office tower located between George and Pitt Streets, opposite World Square.

Summary

Summary
Year built (or refurbished)		1973 (2001)
Grade		A
Ownership		100%
Total NLA (sqm)		19,586
Typical foor plate (sqm)		858
Car spaces		135
Valuation (30 June 2014)
Valuation		$87.5 million
Value ($/sqm)		$4,390
Last external valuation date		31 December 2013
Valuer		Savills
Tenancy statistics
WALE (by income)		3.2 years
Occupancy		88.7%
Major tenants		NLA (sqm)
Dept of Environment and Heritage (NSW) 10,996
Australian Electoral Commission		1,378

Note: 1. Asset sold July 2014

Charter Hall Property Portfolio / 30 June 2014 / 17

The Denison 65 Berry Street, North Sydney NSW

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A modern 18 level office building centrally located within the North Sydney CBD.

Summary

Summary
Year built (or refurbished)		1986
Grade		A
Ownership		100%
Total NLA (sqm)		15,123
Typical foor plate (sqm)		873
Car spaces		157
Valuation (30 June 2014)
Valuation		$93.9 million
Value ($/sqm)		$6,150
Last external valuation date		31 December 2013
Valuer		Knight Frank
Tenancy statistics
WALE (by income)		5.1 years
Occupancy		89.2%
Major tenants		NLA (sqm)
MediaCom		6,912
Reckon		2,442

Charter Grove[1]

29-57 Christie Street, St Leonards NSW

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A modern seven level, A-grade office building and adjoining sports and community complex located in the St Leonards business district.

Summary

Summary
Year built (or refurbished)		1990
Grade		A
Ownership		100%
Total NLA (sqm)		18,081
Typical foor plate (sqm)		2,155
Car spaces		285
Valuation (30 June 2014)
Valuation		$93.1 million
Value ($/sqm)		$4,673
Last external valuation date		31 December 2013
Valuer		m3 Property
Tenancy statistics
WALE (by income)		4.0 years
Occupancy		100%
Major tenants		NLA (sqm)
Coca Cola Amatil (Australia)		4,313
Fitness First		3,056
IMS Health		2,155

Note: 1. Asset sold July 2014

18 / Office / Charter Hall Office Trust

Avaya House 123 Epping Road, Macquarie Park NSW

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A modern 10 level, A-grade office building prominently located in one of Australia’s premier technology precincts.

Summary

Summary
Year built (or refurbished)		2000
Grade		A
Ownership		100%
Total NLA (sqm)		16,281
Typical foor plate (sqm)		1,774
Car spaces		534
Valuation (30 June 2014)
Valuation		$78.0 million
Value ($/sqm)		$4,729
Last external valuation date		31 December 2013
Valuer		Knight Frank
Tenancy statistics
WALE (by income)		2.8 years
Occupancy		100%
Major tenants		NLA (sqm)
Avaya Australia		5,050
Amgen Australia		2,739

Wentworth Place

9 Wentworth Street, Parramatta NSW

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A recently refurbished and upgraded seven level building, well located in the Parramatta CBD.

Summary

Summary
Year built (or refurbished)			1988
Grade			A
Ownership			100%
Total NLA (sqm)			7,672
Typical foor plate (sqm)			1,220
Car spaces			97
Valuation (30 June 2014)
Valuation			$26.6 million
Value ($/sqm)			$3,480
Last external valuation date			31 December 2013
Valuer			CBRE
Tenancy statistics
WALE (by income)			3.9 years
Occupancy			67.3%
Major tenant			NLA (sqm)
Dept of Immigration & Citizenship			4,735

Charter Hall Property Portfolio / 30 June 2014 / 19

Australian Taxation Office 266 King Street, Newcastle NSW

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A modern nine level, A-grade office building located within the civic precinct of the Newcastle CBD.

Summary

Summary
Year built (or refurbished)		1989
Grade		A
Ownership		100%
Total NLA (sqm)		14,157
Typical foor plate (sqm)		1,682
Car spaces		64
Valuation (30 June 2014)
Valuation		$47.0 million
Value ($/sqm)		$3,306
Last external valuation date		31 December 2013
Valuer		CBRE
Tenancy statistics
WALE (by income)		2.8 years
Occupancy		100%
Major tenant		NLA (sqm)
Australian Taxation Offce		14,157

Argus Centre 300 LaTrobe Street, Melbourne Vic

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A modern 34 level, A-grade office tower located opposite Melbourne Central Railway Station in the Flagstaff Precinct of Melbourne’s CBD, inclusive of 10 levels of car parking, comprising 520 car bays.

Summary

Summary
Year built (or refurbished)		1991 (2012)
Grade		A
Ownership		100%
Total NLA (sqm)		33,051
Typical foor plate (sqm)		1,487
Car spaces		520
Valuation (30 June 2014)
Valuation		$173.9 million
Value ($/sqm)		$5,259
Last external valuation date		31 December 2013
Valuer		CBRE
Tenancy statistics
WALE (by income)		8.3 years
Occupancy		100%
Major tenants		NLA (sqm)
Telstra Corporation Ltd		23,454
Department of Veteran Affairs		4,749

20 / Office / Charter Hall Office Trust

150 Lonsdale Street Melbourne Vic

171 Collins Street Melbourne Vic

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A refurbished 29 level, A-grade office building located in the north eastern section of the Melbourne CBD.

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Developed by Charter Hall and Cbus Property and designed by Bates Smart, 171 Collins Street is Victoria’s first Premium Grade building having achieved a 6 star Green Star – Office Design (v2) rating, representing ‘World Leadership’ in environmentally sustainable design.

Located on the prestigious ‘Paris-end’ of Collins Street, the building comprises 31,000sqm of office space across 17 floors in a new generation tower and seven levels of boutique office space in the heritage listed Mayfair building.

Summary

Summary

Year built (or refurbished) 1974 (2005) Grade A Ownership 100% Total NLA (sqm) 28,744 Typical foor plate (sqm) 1,130 Car spaces 647 Valuation (30 June 2014) Valuation $138.6 million Value ($/sqm) $4,801 Last external valuation date 31 December 2013 Valuer m3 Property Tenancy statistics WALE (by income) 3.2 years Occupancy 100% Major tenants NLA (sqm) Telstra Corporation Ltd 13,783 Superpartners 5,443 GHD 1,811	Year built (or refurbished) 2013
	Grade Premium
	Ownership 50%
	JV partner Cbus Property
	Total NLA (sqm) 33,092
	Typical foor plate (sqm) 1,823
	Car spaces 136
	Valuation (30 June 2014)
	Valuation (50%) $130.3 million
	Value ($/sqm) $7,724
	Last external valuation date 31 December 2013
	Valuer Savills
	Tenancy statistics
	WALE (by income) 9.8 years
	Occupancy 95.6%
	Major tenants NLA (sqm)
	BHP Billiton 14,349
	Wood Group 6,900
	Vic Super 2,750
	Evans and Partners 1,700

Charter Hall Property Portfolio / 30 June 2014 / 21

5 Queens Road Melbourne Vic

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An 11 level, A-grade office building situated in the midst of the St Kilda Road office precinct, opposite Albert Park.

Summary

Summary
Year built (or refurbished)		1989
Grade		A
Ownership		100%
Total NLA (sqm)		17,726
Typical foor plate (sqm)		1,670
Car spaces		323
Valuation (30 June 2014)
Valuation		$66.1 million
Value ($/sqm)		$3,701
Last external valuation date		31 December 2013
Valuer		Jones Lang LaSalle
Tenancy statistics
WALE (by income)		4.3 years
Occupancy		99.4%
Major tenants		NLA (sqm)
Beca		5,041
Leighton Contractors Pty Ltd		3,362
ISIS		2,827
Unico		2,405

Australia Taxation Office 6-20 Gladstone Street, Moonee Ponds Vic

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A seven level, A-grade office building situated in Moonee Ponds in Melbourne’s north west.

Summary

Summary
Year built (or refurbished)		1991
Grade		A
Ownership		100%
Total NLA (sqm)		22,107
Typical foor plate (sqm)		2,862
Car spaces		120
Valuation (30 June 2014)
Valuation		$80.1 million
Value ($/sqm)		$3,619
Last external valuation date		31 December 2013
Valuer		m3 Property
Tenancy statistics
WALE (by income)		5.6 years
Occupancy		100%
Major tenant		NLA (sqm)
Australian Taxation Offce		22,107

22 / Office / Charter Hall Office Trust

175 Eagle Street Brisbane Qld

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An A-grade quality riverfront property situated within the ‘Golden Triangle’ of the Brisbane CBD. Having recently undergone a refurbishment of building services and amenities.

Summary

Summary
Year built (or refurbished)		2002 (2014)
Grade		A
Ownership		100%
Total NLA (sqm)		22,851
Typical foor plate (sqm)		1,159
Car spaces		162
Valuation (30 June 2014)
Valuation		$163.9 million
Value ($/sqm)		$6,980
Last external valuation date		31 December 2013
Valuer		CBRE
Tenancy statistics
WALE (by income)		5.4 years
Occupancy		91.2%
Major tenants		NLA (sqm)
Aurizon		10,727
AON Risk Services		1,890

Capital Hill

83-85 George Street, Brisbane Qld

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An 18 level office building located within the Queensland Government office precinct in the Brisbane CBD.

Summary

Summary
Year built (or refurbished)			1989
Grade			B
Ownership			100%
Total NLA (sqm)			10,516
Typical foor plate (sqm)			581
Car spaces			105
Valuation (30 June 2014)
Valuation			$46.8 million
Value ($/sqm)			$4,450
Last external valuation date			31 December 2013
Valuer			Colliers
Tenancy statistics
WALE (by income)			1.8 years
Occupancy			100%
Major tenant			NLA (sqm)
State of Qld - Dept Main Roads			8,780

Charter Hall Property Portfolio / 30 June 2014 / 23

Eastpoint Plaza 233-237 Adelaide Terrace, Perth WA

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A 13 level B-grade office building well located in the eastern end of Perth’s CBD.

Summary

Summary
Year built (or refurbished)		1982
Grade		B
Ownership		100%
Total NLA (sqm)		11,672
Typical foor plate (sqm)		1,050
Car spaces		89
Valuation (30 June 2014)
Valuation		$61.8 million
Value ($/sqm)		$5,312
Last external valuation date		31 December 2013
Valuer		Jones Lang LaSalle
Tenancy statistics
WALE (by income)		3.9 years
Occupancy		100%
Major tenants		NLA (sqm)
Minister for Works (Health & Police) 6,094
Goldfelds Gas Transmissions Pty Ltd 1,472

Australia Place

14 Mort Street, Canberra ACT

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A modern eight level A-grade commercial office building with basement parking located in the civic precinct of the Canberra CBD.

Summary

Summary
Year built (or refurbished)		1996
Grade		A
Ownership		100%
Total NLA (sqm)		9,384
Typical foor plate (sqm)		900
Car spaces		67
Valuation (30 June 2014)
Valuation		$25.6 million
Value ($/sqm)		$2,718
Last external valuation date		31 December 2013
Valuer		Jones Lang LaSalle
Tenancy statistics
WALE (by income)		1.5 years
Occupancy		100%
Major tenants		NLA (sqm)
Dept of Employment		9,384

Brisbane Square, Brisbane Qld

Charter Hall Property Portfolio / 30 June 2014 / 25

Core Plus Office Fund

Charter Hall’s Core Plus Office Fund (CPOF) is the Group’s largest wholesale pooled fund. Launched in 2006, the Fund targets the office property sector in the major capital city markets of Australia.

Top 10 tenants

By gross income

												19%	19%	Australian Government
										15%				Telstra Corporation
									10%					Westpac Group
			5%									Bank of Western Australia (CBA)
			5%										Bupa
		3%											Queensland Gas Company
		3%											Suncorp
2%													Parsons Brinckerhoff
2%													Jackson McDonald
2%													Wilson Parking
							12%		5% Core Vacancy1 7% Vacant due to asset redevelopment underway				Vacant
					10%								FY15
	8%												FY16
	9%												FY17
									18%				FY18
						11%							FY19
	1%												FY20
											29%		FY21+

Note:

1. Core assets including income support

26 / Office / Core Plus Office Fund

Fund Statistics

Asset diversification

By current value

Asset diversifcation By current value
167 Macquarie Street, Sydney NSW	4%
St George Bank, Kogarah, Sydney NSW	6%
331 & 333 George Street, Sydney NSW	5%
9 Castlereagh Street, Sydney NSW	9%
11 Exhibition Street, Melbourne Vic	9%
570 Bourke Street, Melbourne Vic	10%
Brisbane Square, Brisbane Qld	7%
275 George Street, Brisbane Qld	9%
Northbank Plaza, Brisbane Qld	8%
100 Skyring Terrace, Brisbane Qld	4%
ATO 12-26 Franklin Street, Adelaide SA	6%
51 Pirie Street, Adelaide SA	1%
Bank SA, Adelaide SA	1%
225 St Georges Terrace, Perth WA	9%
109 St Georges Terrace, Perth WA	4%
Bankwest Place, Perth WA	8%

Tenant type diversification

By gross income

17% 64% 19%

	National and international	64%
	Government and government related	19%
	Other	17%

Geographical diversification

By current value

7% 21% 24%	29%
	19%

	Queensland	29%
	Victoria	19%
	New South Wales	24%
	Western Australia	21%
	South Australia	7%

Charter Hall Property Portfolio / 30 June 2014 / 27

Weighted Average Core Lease Expiry (years)

By gross income

													20.3	St George Bank, Kogarah NSW
												12.8	ATO 12-26 Franklin Street, Adelaide SA
						8.2							Bankwest Place, Perth WA
						8.0							Brisbane Square, Brisbane Qld
						7.3							Bank SA, Adelaide SA
						7.0							100 Skyring Terrace, Brisbane Qld
						6.8							11 Exhibition Street, Melbourne Vic
					5.1								275 George Street, Brisbane Qld
3.9													Northbank Plaza, Brisbane Qld
3.7													570 Bourke Street, Melbourne Vic
3.6													167 Macquarie Street, Sydney NSW
3.5													225 St Georges Terrace, Perth WA
2.9													109 St Georges Terrace, Perth WA
2.6													9 Castlereagh Street, Sydney NSW
2.3													51 Pirie Street, Adelaide SA
0.0													331 George Street, Sydney NSW
0.0													333 George Street, Sydney NSW
						6.4				Expiry (years)			WALE1
				7.0									100 Skyring Terrace, Brisbane Qld
3.7													570 Bourke Street, Melbourne Vic
0.0													331 George Street, Sydney NSW
0.0													333 George Street, Sydney NSW
				6.4									WALE

Note: 1. Includes signed heads of agreement.

28 / Office / Core Plus Office Fund

Property Portfolio

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June 2014 Capitalisation Rate 7.53% June 2014 Discount Rate 8.92%”

		CPOF	CPOF	Jun 2014	WALE (years)	WALE (years)	Weighted Avg
		Ownership %		valuation A$M			rent reviews (%)
167 Macquarie Street, Sydney NSW		100%		89.5	3.6		3.8%
St George Bank, Kogarah NSW		100%		118.0	20.3		2.9%
331 & 333 George Street, Sydney NSW		100%		101.8	n/a		n/a
9 Castlereagh Street, Sydney NSW		100%		182.5	2.6		4.0%
11 Exhibition Street, Melbourne Vic		100%		200.0	6.8		4.0%
570 Bourke Street, Melbourne Vic		100%		200.8	3.7		3.2%
Brisbane Square, Brisbane Qld		33%		139.1	8.0		3.4%
275 George Street, Brisbane Qld		50%		192.0	5.1		4.5%
Northbank Plaza, Brisbane Qld		100%		168.0	3.9		4.5%
100 Skyring Terrace, Brisbane Qld1		50%		87.8	7.0		4.0%
ATO 16-26 Franklin Street, Adelaide SA2		50%		119.5	12.8		2.9%
51 Pirie Street, Adelaide SA		100%		14.0	2.3		2.9%
Bank SA, Adelaide SA		100%		20.0	7.3		2.9%
225 St Georges Terrace, Perth WA		100%		188.5	3.5		3.7%
109 St Georges Terrace, Perth WA		100%		80.0	2.9		3.7%
Bankwest Place, Perth WA		33%		160.8	8.2		3.8%
Total/Weighted average1				2,062.3	6.4		3.9%

Note:

1. Forecast completion value 2. Includes $12.0m Adelaide GPO and sites

275 George Street, Brisbane Qld

30 / Office / Core Plus Office Fund

331 and 333 George Street, Sydney NSW (under development)

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Artist’s Impression
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Located on one of Sydney’s most prominent corners at George Street and Martin Place, this contemporary A-grade workspace will offer 15 floors of officespace over 12,500sqm and 2,100sqm of prime retail over three levels.

9 Castlereagh Street, Sydney NSW (core)

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Completed in 1989, 9 Castlereagh Street is a unique, Harry Seidler designed landmark office tower. The property has 31 upper office levels, ground floor retail incorporating a café and childcare facility and basement car parking for 79 vehicles.

The property is currently undergoing a total redevelopment including the demolition of the existing buildings at 331 and 333 George Street and the construction of a new striking transparent building which offers a vertically connected environment and a unique outdoor workspace with five levels of cascading rooftop terraces.

Summary

Summary
Year built (Forecast completion)		2016
Grade		A
Ownership		100%
Total NLA (sqm)		14,390
Typical foor plate (sqm)		980
Car spaces		17
Tenancy statistics
WALE (by income)		N/A
Occupancy		N/A

Summary

Summary
Year built (or refurbished)		1989
Grade		A
Ownership		100%
Total NLA (sqm)		20,930
Typical foor plate (sqm)		760
Car spaces		79
Valuation (30 June 2014)
Valuation		$182.5 million
Value ($/sqm)		$8,737
Last external valuation date		30 June 2014
Valuer		CBRE
Tenancy statistics
WALE (by income)		2.6 years
Occupancy		85.2%
Major tenants		NLA (sqm)
Talent 2		1,339
Star Scientifc		671
ICAP Australia		671

Charter Hall Property Portfolio / 30 June 2014 / 31

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 including two ground level retail tenancies.

Summary

Summary
Year built (or refurbished)		1970 (2005)
Grade		A
Ownership		100%
Total NLA (sqm)		9,734
Typical foor plate (sqm)		780
Car spaces		78
Valuation (30 June 2014)
Valuation		$89.5 million
Value ($/sqm)		$9,168
Last external valuation date		30 June 2014
Valuer		m3 Property
Tenancy statistics
WALE (by income)		3.6 years
Occupancy		100%
Major tenants		NLA (sqm)
Gresham Partners		2,364
Fidelity		2,364

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 the large southern Sydney workforce. The purpose built commercial complex spans eight levels and features extensive office space, a bank branch cafeteria, community centre, child care centre, auditorium, gymnasium, outdoor area, tennis court and running track and 595 car spaces.

Summary

Summary
Year built (or refurbished)			1990
Grade			A
Ownership			100%
Total NLA (sqm)			31,724
Typical foor plate (sqm)			1,965
Car spaces			595
Valuation (31 December 2013)
Valuation			$118.0 million
Value ($/sqm)			$3,720
Last external valuation date			31 December 2013
Valuer			m3 Property
Tenancy statistics
WALE (by income)			20.3 years
Occupancy			100%
Major tenants			NLA (sqm)
St George Bank (Westpac)			31,724

32 / Office / Core Plus Office Fund

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.

Summary

Summary
Year built (or refurbished)		2005
Grade		A
Ownership		100%
Total NLA (sqm)		22,842
Typical foor plate (sqm)		1,700
Car spaces		340
Valuation (31 December 2013)
Valuation		$200.0 million
Value ($/sqm)		$8,841
Last external valuation date		31 December 2013
Valuer		Jones Lang LaSalle
Tenancy statistics
WALE (by income)		6.8 years
Occupancy		100%
Major tenants		NLA (sqm)
Bupa		12,084
Fair Work Australia (Commonwealth of Australia) 9,797

570 Bourke Street,

Melbourne Vic (under development)

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

Artist’s Impression
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570 Bourke Street is located in the heart of Melbourne CBD’s legal and commercial precinct. The property comprises 35,083sqm of refurbished office space over 31 levels with a public car park over five basement levels. Construction has commenced on a 15,000sqm expansion of the lower 10 levels of the tower, which will increase the floorplate to 2,700sqm, vertically connected by a glass atrium. The site will activate its four street frontages with retail space, cafes and a rejuvenated laneway and a dedicated end of trip and lifestyle facility.

Summary

Summary
Year built (or refurbished)		1972 (2003)
Grade		A
Ownership		100%
Total NLA (sqm)		35,083
Typical foor plate (sqm)		1,150
Car spaces		522
Valuation (30 June 2013)
Valuation		$200.8 million
Value ($/sqm)		$5,076
Last external valuation date		30 June 2013
Valuer		Colliers
Tenancy statistics
WALE (by income)		3.7 years
Occupancy1		68.9%
Major tenants		NLA (sqm)
State Government		11,806
Secure Parking		522 bays

Note: 1. Podium redevelopment is underway

Charter Hall Property Portfolio / 30 June 2014 / 33

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 premium office space over 38 levels, ground floor retail and parking over three basement levels.

Summary

Summary
Year built (or refurbished)		2006
Grade		A
Ownership		33%
Total NLA (sqm)		57,368
Typical foor plate (sqm)		1,420
Car spaces		341
Valuation (31 March 2013)
Valuation		$139.1 million
Value ($/sqm)		$7,067
Last external valuation date		31 March 2014
Valuer		Knight Frank
Tenancy statistics
WALE (by income)		8.0 years
Occupancy		99.2%
Major tenants		NLA (sqm)
Brisbane City Council		34,598
Suncorp		23,572

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 city scape. CPOF holds a 50% stake with the Singaporean listed Keppel REIT.

Summary

Summary
Year built (or refurbished)		2009
Grade		A
Ownership		50%
Total NLA (sqm)		41,738
Typical foor plate (sqm)		1,302
Car spaces		246
Valuation (31 December 2013)
Valuation		$192.0 million
Value ($/sqm)		$9,208
Last external valuation date		31 December 2013
Valuer		CBRE
Tenancy statistics
WALE (by income)		5.1 years
Occupancy		99.6%
Major tenants		NLA (sqm)
Telstra Corporation Ltd		28,836
Queensland Gas Company		11,652

34 / Office / Core Plus Office Fund

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.

Summary

Summary
Year built (or refurbished)		2008
Grade		A
Ownership		100%
Total NLA (sqm)		26,700
Typical foor plate (sqm)		1,200
Car spaces		156
Valuation (30 June 2014)
Valuation		$168.0 million
Value ($/sqm)		$6,282
Last external valuation date		30 June 2014
Valuer		Jones Lang LaSalle
Tenancy statistics
WALE (by income)		3.9 years
Occupancy		100%
Major tenants		NLA (sqm)
Telstra Corporation Ltd		17,996
Parsons Brinckerhoff		5,847
The Bureau of Meteorology		1,234

100 Skyring Terrace, Brisbane Qld (core/ under development)

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100 Skyring Terrace is located in the heart of Brisbane’s thriving Gasworks precinct, Newstead - a flourishing business and lifestyle community, only 1.7 km from the city centre. Due for completion in late 2014, this 12 level A-Grade office building comprises 24,174sqm of office space with large and efficient 2,200sqm campus-style floors with inspiring 360° river and city views. It features 1,056sqm of retail space, a dedicated end-of-trip facility and 164 car spaces.

Summary

Summary
Year built (or refurbished)		2014
Grade		A
Ownership		50%
Total NLA (sqm)		24,174
Typical foor plate (sqm)		2,500
Car spaces		164
Tenancy statistics
WALE (by income)		7.0 years
Occupancy		55.7%
Major tenants		NLA (sqm)
Bank of Queensland		13,174

Charter Hall Property Portfolio / 30 June 2014 / 35

ATO 16-26 Franklin Street, Adelaide SA

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The ATO Building is located on the northern side of Franklin Street, approximately 65 metres west of the intersection with King William Street. The property comprises a new high rise office tower, with basement, ground floor, mezzanine floor and 17 upper levels. The building has a total Net Lettable Area (NLA) of approximately 37,337sqm together with 114 car parks. The site also includes the heritage post office building and associated vacant land comprising the final stages of the City Central development. Master planning is underway with potential for an office or mixed use re-development.

Summary

Summary
Year built (or refurbished)		2013
Grade		A
Ownership		50%
Total NLA (sqm)		37,314
Typical foor plate (sqm)		2,198
Car spaces		114
Valuation (1 February 2014)
Valuation		$119.5 million1
Value ($/sqm)		$5,841
Last external valuation date		1 February 2014
Valuer		Jones Lang LaSalle
Tenancy statistics
WALE (by income)		12.8 years
Occupancy		100%
Major tenants		NLA (sqm)
ATO		31,488
Australia Post		5,291

51 Pirie Street, Adelaide SA (core/development)

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Artist’s Impression
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----- Start of picture text -----

Artist’s Impression
----- End of picture text -----

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.

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.

Summary

Summary
Year built (or refurbished)			1983
Grade			B
Ownership			100%
Total NLA (sqm)			6,315
Typical foor plate (sqm)			940
Car spaces			0
Valuation (31 December 2013)
Valuation			$14.0 million
Value ($/sqm)			$2,217
Last external valuation date			31 December 2013
Valuer			Jones Lang LaSalle
Tenancy statistics
WALE (by income)			2.3 years
Occupancy			72.8%
Major tenants			NLA (sqm)
St George Bank			4,427

Note: 1. Includes adjoining GPO and sites

36 / Office / Core Plus Office Fund

Bank SA

97 King William Street, Adelaide SA (core)

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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.

BHP House

225 St Georges Terrace, Perth WA (core)

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Located at the western end of St Georges Terrace, 225 St Georges Terrace comprises a 21,192sqm A-grade office building, with 733sqm of retail space and three levels of basement accomadating 373 car parking spaces.

Summary

Summary

Year built (or refurbished) 1943 Grade B Ownership 100% Total NLA (sqm) 15,115 Typical foor plate (sqm) 1,340 Car spaces 28 Valuation (30 June 2014) Valuation $20.0 million Value ($/sqm) $1,323 Last external valuation date 30 June 2014 Valuer Jones Lang LaSalle Tenancy statistics WALE (by income) 7.3 years Occupancy 100% Major tenants NLA (sqm) St George Bank 15,115	Year built (or refurbished) 1990
	Grade A
	Ownership 100%
	Total NLA (sqm) 21,192
	Typical foor plate (sqm) 1,130
	Car spaces 373
	Valuation (30 December 2013)
	Valuation $188.5 million
	Value ($/sqm) $9,021
	Last external valuation date 30 December 2013
	Valuer Savills
	Tenancy statistics
	WALE (by income) 3.5 years
	Occupancy 67.8%
	Major tenants NLA (sqm)
	Jackson McDonald 3,901
	Wilson Parking 373 bays

Charter Hall Property Portfolio / 30 June 2014 / 37

Bankwest Place and Raine Square, Perth WA (core)

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Bankwest Place and Raine Square is an office and retail complex situated in a prime location within the Perth CBD market. The office component is occupied by Bankwest on a long term lease with the retail component anchored by a Coles Supermarket. The site which covers the majority of an entire CBD block also accomodates a variety of main street retail spaces, a hotel and two licenced bars.

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.

Summary

Summary

Year built (or refurbished) 2011 Grade A Ownership 33% Total NLA (sqm) 61,564 Typical foor plate (sqm) 2,000 Car spaces 377 Valuation (31 March 2014) Valuation $160.8 million Value ($/sqm) $7,850 Last external valuation date 31 March 2014 Valuer Knight Frank Tenancy statistics WALE (by income) 8.2 years Occupancy 94.2% Major tenants NLA (sqm) Bankwest 43,646 Coles 1,995	Year built (or refurbished) 2005
	Grade A
	Ownership 100%
	Total NLA (sqm) 13,897
	Typical foor plate (sqm) 75
	Car spaces 550
	Valuation (30 June 2014)
	Valuation $80.0 million
	Value ($/sqm) $5,759
	Last external valuation date 30 June 2014
	Valuer Jones Lang LaSalle
	Tenancy statistics
	WALE (by income) 2.9 years
	Occupancy 100%
	Major tenants NLA (sqm)
	Westpac Bank 8,169
	Calibre Global 2,497

38 / Office / Office mandates and partnerships

Office mandates and partnerships

Charter Hall’s wholesale partnership and mandate business manages a range of high quality institutional grade office assets on behalf of its institutional clients. These wholesale mandates include 275 George Street Brisbane, 100 Skyring Terrace Newstead, Brisbane Square, Bankwest Place Perth and the Riverside Centre in Adelaide.

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.

275 George Street, Brisbane Qld (core)

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

Artist’s Impression
----- End of picture text -----

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 city scape. CPOF holds a 50% stake with the Singaporean listed K-REIT.

Ownership

Ownership
Institutional clients and CPOF	100%
Charter Hall Group	0%

	Ownership
	Institutional clients and CPOF		100%
	Charter Hall Group		0%

Charter Hall Property Portfolio / 30 June 2014 / 39

100 Skyring Terrace, Brisbane Qld

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100 Skyring Terrace is an office development site located in the master-planned Newstead Riverpark Precinct, on the fringe of the Brisbane CBD.

Due for completion in late 2014, the development comprises a total of 23,547sqm of A-Grade office space across 10 levels, 1,056sqm of retail space and 164 car spaces.

Ownership
Institutional clients and CPOF		100%
Charter Hall Group		0%

Bankwest Place and Raine Square, Perth WA

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Bankwest Place and Raine Square is an office and retail complex situated in a prime location within the Perth CBD market. The office component is occupied by Bankwest on a long term lease with the retail component anchored by a Coles Supermarket. The site also includes almost an entire CBD block of retail and office use buildings.

Ownership

Ownership
Institutional clients and CPOF	100%
Charter Hall Group	0%

ATO 16-26 Franklin Street[1] , Adelaide SA

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The ATO Building is located on the northern side of Franklin Street, approximately 65 metres west of the intersection with King William Street. The property comprises a new high rise office tower, with basement, ground floor, mezzanine floor and 17 upper levels. The building has a total Net Lettable Area (NLA) of approximately 37,337sqm together with 114 car parks. The site also includes the heritage post office building and associated vacant land comprising the final stages of the City Central development. Master planning is underway with potential for an office or mixed use re-development.

Ownership

Ownership
Institutional clients and CPOF	100%
Charter Hall Group	0%

1 Nicholson Street, Melbourne Vic

Charter Hall Property Portfolio / 30 June 2014 / 41

Charter Hall Direct Property Fund

Charter Hall Direct Property Fund (CHDPF) is an unlisted property fund, open for investment to retail investors, that aims to provide regular, income payable quarterly from a diversified portfolio of direct property.

Top 10 tenants

By gross income

									10%	10%	Australian Government
								7%	Barristers’ Chambers
								7%	Orica
							5%		DOF Subsea
					4%				Wilson Parking
					4%				Davies Collison Cave Holding Ltd
			3%							Sony
			3%							Citigroup
			3%							Adecco
			3%							Troy Law Services Pty Ltd
Annual lease expiry By gross income
	7%									Vacant
							15%			FY15
		8%								FY16
					11%					FY17
3%										FY18
					12%					FY19
									27%	FY20
	6%									FY21
					11%					FY22+

42 / Office / Charter Hall Direct Property Fund

Fund Statistics

Asset diversification

Asset diversifcation
By current value
68 Pitt Street, Sydney NSW		26%
165 Walker Street, North Sydney NSW		6%
504 Pacifc Highway, St Leonards NSW		6%
2 Wentworth Street, Parramatta NSW		8%
200 Queen Street, Melbourne Vic		23%
1 Nicholson Street, Melbourne Vic		16%
300 Adelaide Street, Brisbane Qld		9%
181 St Georges Terrace, Perth WA		6%

Sector diversification

By current value

1%	94%
5%

	Direct Property	94%
	Unlisted Property fund	5%
	Cash & Other	1%

Geographical diversification

By current value

6% 9% 39%	46%

	New South Wales	46%
	Victoria	39%
	Queensland	9%
	Western Australia	6%

Charter Hall Property Portfolio / 30 June 2014 / 43

Weighted Average Lease Expiry (years) By gross income

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

6.9 1 Nicholson Street, Melbourne Vic
5.7 165 Walker Street, North Sydney NSW
5.3 2 Wentworth Street, Parramatta NSW
4.0 181 St Georges Terrace, Perth WA
3.8 200 Queen Street, Melbourne Vic
3.4 68 Pitt Street, Sydney NSW
3.3 300 Adelaide Street, Brisbane Qld
3.1 504 Pacific Highway, St Leonards NSW
4.3 WALE
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44 / Office / Charter Hall Direct Property Fund

Property Portfolio

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June 2014 Capitalisation Rate 8.10% June 2014 Discount Rate 9.02%”

		CHDPF	CHDPF	Jun 2014	WALE (years)	WALE (years)	Weighted avg
		Ownership %		valuation A$M			rent reviews (%)
68 Pitt Street, Sydney NSW		100%		125.0	3.4		3.75%
165 Walker Street, North Sydney NSW		100%		26.5	5.7		3.78%
504 Pacifc Highway, St Leonards NSW		100%		30.4	3.1		3.83%
2 Wentworth Street, Parramatta NSW		100%		39.5	5.3		2.42%
200 Queen Street, Melbourne Vic		100%		111.0	3.8		3.84%
1 Nicholson Street, Melbourne Vic		100%		77.5	6.9		3.91%
300 Adelaide Street, Brisbane Qld		100%		45.0	3.3		3.93%
181 St Georges Terrace, Perth WA		100%		28.1	4.0		4.34%
Total/Weighted average				483.01	4.3		3.75%

Note:

1. Charter Hall Direct Property Fund also retains a $26.4m investment in a wholesale unlisted property fund resulting in total gross assetsx of $509.4m.

200 Queen Street, Melbourne Vic

46 / Office / Charter Hall Direct Property Fund

68 Pitt Street, Sydney NSW

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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

Summary
Year built (or refurbished)		1965 (2008)
Grade		B
Ownership		100%
Total NLA (sqm)		14,336
Typical foor plate (sqm)		549
Car spaces		54
Valuation (30 June 2014)
Valuation		$125.0 million
Value ($/sqm)		$8,719
Last external valuation date		30 June 2014
Valuer		Knight Frank
Tenancy statistics
WALE (by income)		3.4 years
Occupancy		98.1%
Major tenants		NLA (sqm)
Adecco		1,846
Troy Law Services		1,253
ABB Australia		1,139
NIB dental and eye care centre		975
Citigroup Ltd		414

165 Walker Street, North Sydney NSW

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The building comprises ground level entrance foyer and retail accommodation, mezzanine 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.

Summary

Summary
Year built (or refurbished)		1963 (2014)
Grade		B
Ownership		100%
Total NLA (sqm)		5,259
Typical foor plate (sqm)		812
Car spaces		43
Valuation (30 June 2014)
Valuation		$26.5 million
Value ($/sqm)		$5,039
Last external valuation date		30 June 2014
Valuer		Savills
Tenancy statistics
WALE (by income)		5.7 years
Occupancy		74.9%
Major tenants		NLA (sqm)
Sony		2,358
Access Prepaid Australia		788

Charter Hall Property Portfolio / 30 June 2014 / 47

504 Pacific Highway, St Leonards 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.

Summary

Summary
Year built (or refurbished)	1963 (1991)
Grade	B
Ownership	100%
Total NLA (sqm)	10,420
Typical foor plate (sqm)	789
Car spaces	115
Valuation (30 June 2014)
Valuation	$30.4 million
Value ($/sqm)	$2,920
Last external valuation date	30 June 2014
Valuer	Jones Lang LaSalle
Tenancy statistics
WALE (by income)	3.1 years
Occupancy	80.7%
Major tenants	NLA (sqm)
Hothouse Interactive	1,594
Mall Call Couriers	918
Catholic Resources Ltd	919

2 Wentworth Street, Parramatta NSW

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This 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, it is in close proximity to the train station.

Summary

Summary
Year built (or refurbished)		1990 (2011)
Grade		A
Ownership		100%
Total NLA (sqm)		10,943
Typical foor plate (sqm)		1,023
Car spaces		118
Valuation (30 June 2014)
Valuation		$39.5 million
Value ($/sqm)		$3,610
Last external valuation date		30 June 2014
Valuer		m3 Property
Tenancy statistics
WALE (by income)		5.3 years
Occupancy		88.5%
Major tenants		NLA (sqm)
NSW State Government		8,615

48 / Office / Charter Hall Direct Property Fund

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 accommodation. 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.

Summary

Summary
Year built (or refurbished)			1982 (2007)
Grade			A
Ownership			100%
Total NLA (sqm)			19,737
Typical foor plate (sqm)			813
Car spaces			413
Valuation (30 June 2014)
Valuation			$111.0 million
Value ($/sqm)			$5,627
Last external valuation date			31 December 2013
Valuer			m3 Property
Tenancy statistics
WALE (by income)			3.8 years
Occupancy			99%
Major tenants			NLA (sqm)
Barristers Chambers Ltd			6,896
Australian Government Solicitors			3,270

1 Nicholson Street, Melbourne Vic

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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.

Summary

Summary
Year built (or refurbished)		1958 (2008)
Grade		A
Ownership		100%
Total NLA (sqm)		17,328
Typical foor plate (sqm)		920
Car spaces		55
Valuation (30 June 2014)
Valuation		$77.5 million
Value ($/sqm)		$4,473
Last external valuation date		30 June 2014
Valuer		Jones Lang LaSalle
Tenancy statistics
WALE (by income)		6.9 years
Occupancy		100%
Major tenants		NLA (sqm)
Orica		7,374
Davies Collison Cave		5,078

Charter Hall Property Portfolio / 30 June 2014 / 49

300 Adelaide Street, Brisbane Qld

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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.

Summary

Summary
Year built (or refurbished)		1974 (refurbished in 2000)
Grade		B
Ownership		100%
Total NLA (sqm)		13,140
Typical foor plate (sqm)		650
Car spaces		41
Valuation (30 June 2014)
Valuation		$45.0 million
Value ($/sqm)		$3,425
Last external valuation date		30 June 2014
Valuer		Savills
Tenancy statistics
WALE (by income)		3.3 years
Occupancy		76.4%
Major tenants		NLA (sqm)
Transaction Network Services		1,302
Caterpillar Australia		1,302
Slater & Gordon		1,031

181 St Georges Terrace, Perth WA

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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.

Summary

Summary
Year built (or refurbished)		2000
Grade		A
Ownership		100%
Total NLA (sqm)		3,588
Typical foor plate (sqm)		535
Car spaces		14
Valuation (30 June 2014)
Valuation		$28.1 million
Value ($/sqm)		$7,819
Last external valuation date		31 December 2013
Valuer		Savills
Tenancy statistics
WALE (by income)		4.0 years
Occupancy		96.6%
Major tenants		NLA (sqm)
DOF Subsea		2,378
Westlink Logistics		533

50 / Office / 144 Stirling Street Trust

144 Stirling Street Trust

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 fringe. The Trust aims to provide investors with sustainable and stable, tax-advantaged income and the potential for capital growth.

Top 3 tenants

By gross income

				65%	Hatch
		24%			Minister for Works (WA Governmnet)
9%					Wilson Parking
0%					Vacant
	2%				FY15
		24%			FY16
0%					FY17
0%					FY18
0%					FY19
0%					FY20
9%					FY21
				65%	FY22+

Hatch Building

144 Stirling Street, Perth WA

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The A-grade office building is located within the northern fringe of the Perth CBD, a rapidly emerging office precinct. The asset’s key tenants, include Hatch, and WA 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).

Summary

Summary
Year built (or refurbished)	2001
Grade	A
Ownership	100%
Total NLA (sqm)	11,042
Typical foor plate (sqm)	2,269 to 2,411
Car spaces	243
Valuation (30 June 2014)
Valuation	$62.0 million
Value ($/sqm)	$5,615
Last external valuation date	30 June 2014
Valuer	m3 Property
Tenancy statistics
WALE (by income)	5.7 years
Occupancy	100%
Major tenants	NLA (sqm)
Hatch	7,349
Minister for Works	3,525
Wilson Parking	201 bays

144 Stirling Street, Perth WA

52 / Office / Charter Hall Direct WorkZone Trust

Charter Hall Direct WorkZone Trust

Charter Hall Direct WorkZone Trust is an unlisted property syndicate investing in a newly constructed A-grade office building located on the fringe of the Perth CBD. The trust’s asset is a seven level office building with a 5 star Green Star As-built rating and designed to achieve a 5 star NABERS energy rating. The property achieves secure income streams derived from a strong tenancy profile.

Annual lease expiry

By gross income

0%	Vacant
0%	FY15
0%	FY16
0%	FY17
0%	FY18
0%	FY19
0%	FY20
0%	FY21
100%	FY22+

WorkZone

202 Pier Street, Perth WA

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WorkZone is a innovative inner city office campus located in Perth’s rapidly developing CBD fringe. This sustainable office campus comprises 27,911 square metres of A-grade office space over two buildings, linked by a spacious landscaped plaza. It is conveniently located adjacent to McIver train station and is within walking distance to Hay Street Mall and the bustling Northbridge precinct, which offers a variety of restaurants, bars and entertainment. The building features large, open and efficient floorplates of 1,950 square metres with excellent natural light and extensive facilities.

Summary

Summary
Year built (or refurbished)	2013
Grade	A
Ownership	100%
Total NLA (sqm)	15,602
Typical foor plate (sqm)	2,443
Car spaces	141
Valuation (30 June 2014)
Valuation	$124.5 million
Value ($/sqm)	$7,980
Last external valuation date	1 October 2013
Valuer	Savills
Tenancy statistics
WALE (by income)	11.2 years
Occupancy	100%
Major tenants	NLA (sqm)
Leightons Contractors	15,331

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Charter Hall Property Portfolio / 30 June 2014 / 53
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54 / Office / Charter Hall Direct VA Trust

Charter Hall Direct VA Trust (CHIF10)

Charter Hall Direct VA Trust is an unlisted property syndicate investing in the headquarters for Virgin Australia, an A-grade office building located on the fringe of the Brisbane CBD.

Annual lease expiry

By gross income

0%	Vacant
0%	FY15
0%	FY16
0%	FY17
0%	FY18
0%	FY19
0%	FY20
0%	FY21
100%	FY22+

Virgin Australia Headquarters

56 Edmondstone Road, Bowen Hills Qld

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Located approximately three kilometres north east of the Brisbane CBD, Virgin Australia’s headquarters comprises a modern three building office complex, interconnected by a central courtyard. The property was constructed in 2008 and provides high-quality, efficient large floor plates with natural light on all elevations.

Summary

Summary
Year built (or refurbished)	2008
Grade	A
Ownership	100%
Total NLA (sqm)	12,427
Typical foor plate (sqm)	Up to 2,020
Car spaces	149
Valuation (30 June 2014)
Valuation	$66.0 million
Value ($/sqm)	$5,309
Last external valuation date	30 June 2014
Valuer	Colliers
Tenancy statistics
WALE (by income)	11.8 years
Occupancy	100%
Major tenants	NLA (sqm)
Virgin	12,427

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Charter Hall Property Portfolio / 30 June 2014 / 55
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685 La Trobe Street, Melbourne Vic

Charter Hall Property Portfolio / 30 June 2014 / 57

685 LaTrobe

Charter Hall Group has a 50% interest in a development site at 685 La Trobe Street, Melbourne.

685 La Trobe Street, Melbourne Vic

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Artist’s Impression
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Artist’s Impression
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Summary
Status		Conditional sale
Ownership		50%
Total NLA (sqm)		38,347
Typical foor plate (sqm)		3,300
JV Partner		Flagship Pty Ltd
Car spaces		136

In a Joint Venture between Charter Hall and Flagship Pty Ltd, 685 La Trobe has development consent for a new, highly efficient, 37,000sqm A-grade office building that offers an open, transparent and flexible workspace over 12 levels in the heart of Docklands’ Stadium Precinct.

With large floorplates comprising 3,300sqm, it allows the flexibility to create dynamic meeting spaces for teams to work efficiently and collaborate easily.

The building is designed to achieve a 5 star Green Star rating and a 5 star NABERS Energy rating and comprises 137 car spaces, a dedicated hub for 250 bicycles and 1,100sqm of retail.

The site also has residential development potential. The JV partners have recently entered into a conditional contract for the sale of this site.

Singleton Square, Singleton NSW

Charter Hall Property Portfolio / 30 June 2014 / 59

Lake Macquarie Fair, Mount Hutton

Charter Hall Property Portfolio / 30 June 2014 / 61

Charter Hall Retail REIT

Charter Hall Retail REIT is a specialist REIT with over 18 years experience in owning and managing Australian retail properties. With an active management strategy focused on maximising total returns, the REIT aims to offer unitholders an investment product that provides a secure and growing income stream from its portfolio of supermarket anchored shopping centres.

Tenants

2% of total Australian Base Rent

				27%	27%		Wesfarmers
				26%			Woolworths
Annual lease expiry By net lettable area
10% 10% 7% 7% 8% 10% 6% 6%
							FY15
							FY16
		10%					FY17
		10%					FY18
							FY19
							FY20
							FY21
							FY22
						36%	Australia1 FY23+
Number of properties							77
Gross lettable area (CQR share, ‘000sqm)							528.4
Valuation (CQR share, $m)							1,989.2
NTA per unit ($)							3.40
Operational performance metrics
Same property NOI growth							2.0%
Occupancy							98.5%
Specialty rental rate growth							2.6%
Portfolio WALE (years)							7.4

Note:

1. All information represents CQR’s Australian portfolio only

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62 / Retail / Charter Hall Retail REIT
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West Ryde Marketplace, West Ryde
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Charter Hall Property Portfolio / 30 June 2014 / 63

New South Wales

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Windsor Marketplace, Windsor
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Summary
Number of properties				33
Number of tenancies Total GLA (sqm)				723 207,192
Valuation Valuation				$815.9 million
Value ($/sqm)				$3,939
Capitalisation rate				7.62%
Discount rate				9.42%
Tenancy statistics
WALE (by income)				8.1 years
Occupancy				98.6%
Major tenants	ABR1 Contribution (%)
Woolworths				23.5%
Coles Big W				18.4% 5.6%
Target				2.7%
Kmart				1.4%
Property Ownership (%)				Classifcation
Bathurst Chase, Bathurst			100%	Neighbourhood
Cooma Woolworths, Cooma			100%	Freestander
Cootamundra Woolworths, Cootamundra			100%	Freestander
Dubbo Square, Dubbo			100%	Sub-regional
Earlwood Coles, Earlwood			100%	Freestander
Pemulwuy Marketplace, Greystanes			50%	Neighbourhood
Mackenzie Mall, Glen Innes2			100% Neighbourhood
Goonellabah Village, Goonellabah			100% Neighbourhood

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Thornleigh Marketplace, Thornleigh
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Property Ownership (%)	Property Ownership (%)	Property Ownership (%)	Classifcation
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 Shopping Centre, Morisset		100%	Neighbourhood
Lake Macquarie Fair, Mount Hutton		100%	Sub-regional
Mount Hutton Plaza, Mount Hutton		100%	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
Singleton Square and Plaza, Singleton		100%	Sub-regional
Tamworth City Plaza, Tamworth		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
Young Woolworths, Young		100%	Freestander

Note:

1. Annual Base Rent

2. Sold post balance date July 2014

64 / Retail / Charter Hall Retail REIT

Victoria

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Pakington Strand, Geelong West
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Summary

Summary
Number of properties				9
Number of tenancies				167
Total GLA (sqm)				68,611
Valuation
Valuation				$223.1 million
Value ($/sqm)				$3,253
Capitalisation rate				7.51%
Discount rate				8.99%
Tenancy statistics
WALE (by income)				7.1 years
Occupancy				99.4%
Major tenants		ABR Contribution (%)
Woolworths				19.1%
Kmart				15.4%
Coles				13.8%
Property Ownership (%)				Classifcation
Bairnsdale Coles, Bairnsdale		100%		Freestander
Lansell Square, 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, Lilydale		100%		Neighbourhood
Moe Coles, Moe Moe Kmart, Moe Rosebud Plaza, Rosebud		100% 100% 100%		Freestander Freestander Sub-regional

Queensland

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Bribie Island Shopping Centre, Bribie Island
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Summary

Summary
Number of properties				14
Number of tenancies				355
Total GLA (sqm)				99,937
Valuation
Valuation				$398.8 million
Value ($/sqm)				$3,991
Capitalisation rate				7.84%
Discount rate				9.61%
Tenancy statistics
WALE (by income)				7.0 years
Occupancy				98.6%
Major tenants		ABR Contribution (%)
Woolworths				20.4%
Coles				19.9%
Property1 Ownership (%)				Classifcation
Albany Creek Square, Albany Creek		100%		Neighbourhood
Tablelands Village, Atherton		100%		Neighbourhood
Bribie Island Shopping Centre, Bribie Island		100%		Sub-regional
Caboolture Square, Caboolture		100%		Sub-regional
Currimundi Markets, Currimundi		100%		Neighbourhood
Gatton Plaza, Gatton		100%		Neighbourhood
Gladstone Square, Gladstone		50%		Neighbourhood
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 Square, Rockhampton		100%		Neighbourhood
Springfeld Fair, Springfeld		100%		Neighbourhood

Note: 1. Acquired Coomera City Centre post balance date July 2014

Charter Hall Property Portfolio / 30 June 2014 / 65

South Australia

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Wharflands Plaza, Port Augusta
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Summary

Summary
Number of properties				3
Number of tenancies				84
Total GLA (sqm)				37,915
Valuation
Valuation				$109.0 million
Value ($/sqm)				$2,875
Capitalisation rate				7.80%
Discount rate				9.41%
Tenancy statistics
WALE (by income)				6.5 years
Occupancy				98.2%
Major tenants		ABR Contribution (%)
Big W				17.9%
Woolworths				16.8%
Target				11.3%
Property Ownership (%)				Classifcation
Southgate Plaza, Morphett Vale		100%		Sub-regional
Wharfands Plaza, Port Augusta		100%		Sub-regional
Renmark Plaza, Renmark		100%		Sub-regional

Western Australia

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Wanneroo Central, Wanneroo
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Summary

Summary
Number of properties					12
Number of tenancies					263
Total GLA (sqm)					91,123
Valuation
Valuation					$331.9 million
Value ($/sqm)					$3,642
Capitalisation rate					7.58%
Discount rate					8.25%
Tenancy statistics
WALE (by income)					6.5 years
Occupancy					97.9%
Major tenants			ABR Contribution (%)
Woolworths					21.0%
Coles					15.9%
Kmart					9.0%
Property Ownership (%)					Classifcation
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
Secret Harbour Shopping Centre, Secret Harbour			100%		Neighbourhood
South Hedland Shopping Centre, South Hedland			100%		Sub-regional
Swan View Shopping Centre, Swan View			100%		Neighbourhood
Wanneroo Central, Wanneroo			50%		Sub-regional

66 / Retail / 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				59
Total GLA (sqm)				17,145
Valuation
Valuation				$87.7 million
Value ($/sqm)				$5,112
Capitalisation rate				7.58%
Discount rate				9.78%
Tenancy statistics
WALE (by income)				6.5 years
Occupancy				97.1%
Major tenants		ABR Contribution (%)
Woolworths				28.9%
Coles				16.9%
Property Ownership (%)				Classifcation
Dickson Woolworths, Dickson		100%		Freestander
Manuka Terrace, Manuka		100%		Neighbourhood
Erindale Shopping Centre, Wanniassa		100%		Neighbourhood

Tasmania

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Newstead Coles, Newstead
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Summary

Summary
Number of properties				3
Number of tenancies				4
Total GLA (sqm)				6,446
Valuation
Valuation				$22.7 million
Value ($/sqm)				$3,530
Capitalisation rate				7.66%
Discount rate				8.84%
Tenancy statistics
WALE (by income)				7.4 years
Occupancy				100%
Major tenants		ABR Contribution (%)
Woolworths				62.9%
Coles				34.8%
Property Ownership (%)				Classifcation
Newstead Coles, Newstead		100%		Freestander
Smithton Woolworths, Smithton		100%		Freestander
Wynyard Woolworths, Wynyard		100%		Freestander

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Charter Hall Property Portfolio / 30 June 2014 / 67
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South Hedland Square, South Hedland WA
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68 / Retail / Retail Partnership No.1

Retail Partnership No.1

Retail Partnership No.1 is a 50/50 joint-venture investment between the Charter Hall Retail REIT and a major Australian Superannuation Fund. The portfolio comprises supermarket anchored neighbourhood and sub-regional shopping centres.

Tenants

By gross income

								39%	Woolworths
8%									Wesfarmers
						16%			FY15
			8%						FY16
			8%						FY17
			7%						FY18
			10%						FY19
3%									FY20
		2%							FY21
	1%								FY22
							45%		FY23+

Retail Partnership No.1

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Wanneroo Central, Wanneroo
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Summary

Summary
Number of properties				10
Number of tenancies				307
Total GLA (sqm)				94,415
Valuation (30 June 2013)
Valuation				$425.5 million
Value ($/sqm)				$4,507
Capitalisation rate				7.25%
Discount rate				8.47%
Tenancy statistics
Portfolio WALE (by income)				11.6 years
Anchor Wale (by income)				22.1 years
Occupancy				98.8%
Major tenants			ABR Contribution (%)
Woolworths				31.0%
Big W				6.9%
Coles				3.7%
Property
Carnes Hill Marketplace, Horningsea Park NSW
Highlands Marketplace, Mittagong NSW
Pemulwuy Marketplace, Greystanes		NSW
Rutherford Marketplace, Rutherford NSW
Thornleigh Marketplace, Thornleigh NSW
West Ryde Marketplace, West Ryde NSW
Windsor Marketplace, Windsor NSW
Pakington Strand, Geelong West	Vic
Gladstone Square, Gladstone Qld
Wanneroo Central, Wanneroo WA

Pemulwuy Marketplace, Greystanes NSW

70 / Retail / Retail Partnership No.2

Retail Partnership No.2

Bateau Bay Square is a sub-regional shopping centre on the Central Coast of NSW, purchased by Charter Hall in 2012. The centre is strongly anchored and continues to strengthen its position providing convenient retail and services for the local community and significant tourist market. The asset is owned by Retail Partnership No.2, a wholesale partnership between Charter Hall Group (20%) and an institutional investor (80%).

Top 6 tenants

By gross income

								11%	11%	Kmart
							8%			Coles
					7%					Woolworths
3%										Terry White Chemist
3%										The Reject Shop
3%										Aldi
Annual lease expiry By gross income
	6%									CY14
								22%		CY15
				13%						CY16
			11%							CY17
				14%						CY18
								23%		CY19
2%										CY20
0%										CY21
		9%								CY22+

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Charter Hall Property Portfolio / 30 June 2014 / 71
Bateau Bay Square
Bateau Bay NSW
Located on a 9.89 hectare site, the Centre offers a choice
of three supermarkets: Woolworths, Coles and Aldi, plus
a Kmart Discount Department Store. Mini Major retailers
such as Best and Less, Dick Smith and Reject Shop
compliment the retail offer and specialty retailers provide a
diverse shopping experience that meets the needs of the
convenience focused shopper.
Summary
Number of properties 1
Number of tenancies 104
Total GLA (sqm) 28,248
Valuation (30 June 2014)
Valuation $180.0 million
Value ($/sqm) $6,372
Tenancy statistics
Portfolio WALE (by income) 3.7 years
Anchor Wale (by income) 6.1 years
Occupancy 97.6%
Major tenants NLA(sqm)
Kmart 7,587
Coles 5,135
Woolworths 3,600
Aldi 1,226
Bateau Bay Square, Bateau Bay NSW
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72 / Retail / BP Fund

BP Fund

Established in October 2012, the BP Fund is a wholesale Partnership between Charter Hall Group (20%) and an Australian superannuation fund (80%) which invests in modern Bunnings Warehouse stores. The stores are standalone facilities with long term leases with fixed annual rent increases. The Fund aims to acquire investment grade assets underpinned by long term leases with Bunnings, one of the Southern hemisphere’s largest retailers of home improvement and outdoor living products. Bunnings is fully owned by Wesfarmers Limited.

Tenants

By gross income

	92%	92%	92%	92%		Bunnings
8%						Wiley
0%		11%				Vacant
0%		10%				FY15
0%		7%				FY16
0%			11%			FY17
0%			9%			FY18
		12%				FY19
8%						FY20
			19%			FY21
					61%	FY22+

BP Fund

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Summary
Number of properties				6
Number of tenancies				6
Total GLA (sqm)				69,454
Valuation (30 June 2014)
Valuation				$193.9 million
Value ($/sqm)				$2,791
Capitalisation rate				7.11%
Discount rate				8.61%
Tenancy statistics
WALE (by income)				10.3 years
Occupancy				100.0%
Major tenants				(%)
Bunnings				92.0%
Wiley				8.0%
Property Ownership (%)				Classifcation
Bunnings, Castle Hill NSW		100%		Metro
Bunnings, Chatswood NSW		100%		Metro
Bunnings, Kirrawee NSW		100%		Metro
Bunnings, Narellan NSW		100%		Metro
Bunnings, Stafford Qld		100%		Metro
Wiley Stafford Qld		100%		Metro

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Charter Hall Property Portfolio / 30 June 2014 / 73
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74 / Retail / BP Fund No.2

BP Fund No.2 (BP2)

Established in May 2014, the BP Fund 2 comprises approximately 50% (by value) of metropolitan located stores in the Perth suburb of Armadale and Burleigh Heads on the Gold Coast, with the balance regionally located Bunnings stores at Gympie and Mackay in Queensland. Charter Hall Group is in advanced discussions with co-investors to partner in the portfolio. All properties are leased to Bunnings on new 12 year leases and provide average 3% per annum rental increases.

Annual lease expiry

By net lettable area

92% 0%	Vacant
8% 0%	FY15
0%	FY16
0%	FY17
0%	FY18
0%	FY19
0%	FY20
0%	FY21
100%	FY22+

BP Fund No.2

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Summary
Number of properties				5
Number of tenancies				5
Total GLA (sqm)				60,600
Valuation (30 June 2014)
Valuation				$128.1 million1
Value ($/sqm)				$2,113
Capitalisation rate				7.30%
Discount rate				9.00%
Tenancy statistics1
WALE (by income)				12.0 years
Occupancy				100.0%
Major tenants				(%)
Bunnings				100.0%
Property Ownership (%)				Classifcation
Bunnings, Burleigh Heads Qld		100%		Metro
Bunnings, Gympie Qld		100%		Regional
Bunnings, Mackay North Qld		100%		Regional
Bunnings, Mackay South Qld		100%		Regional
Bunnings, Armadale WA		100%		Metro

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Charter Hall Property Portfolio / 30 June 2014 / 75
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Note:

1. Portfolio statistics are based on valuation of development completion where applicable

76 / Retail / Charter Hall Direct BW Trust

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Bunnings Rouse Hill, NSW
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Charter Hall Property Portfolio / 30 June 2014 / 77

Charter Hall Direct BW Trust

Charter Hall Direct BW Trust is an unlisted property syndicate investing in near new Bunnings retail properties located in strategic metropolitan and regional areas.

Annual lease expiry

By gross income

0%	Vacant
0%	FY15
0%	FY16
0%	FY17
0%	FY18
0%	FY19
0%	FY20
0%	FY21
100%	FY22+

78 / Retail / Charter Hall Direct BW Trust

Asset diversification By current value

Bunnings, Armidale NSW	12%
Bunnings, Rouse Hill NSW	44%
Bunnings, Taree NSW	21%
Bunnings, Rosebud Vic	23%

Geographical diversification By current value

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24% 76%
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	New South Wales	76%
	Victoria	24%

Weighted Average Lease Expiry (years) By gross income

11.8	11.8	11.8	11.8	Bunnings, Taree NSW
11.2				Bunnings, Armidale NSW
10.4				Bunnings, Rouse Hill NSW
10.4				Bunnings, Rosebud NSW
10.8				WALE

Charter Hall Property Portfolio / 30 June 2014 / 79

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June 2014 Capitalisation Rate 7.22% June 2014 Discount Rate 9.08%”

	BW Trust	BW Trust	Jun 2014	WALE (years)	WALE (years)	Weighted Avg
	Ownership %		valuation A$M			rent reviews (%)
Bunnings, Armidale NSW	100%		7.9	11.2		3.00%
Bunnings, Rouse Hill NSW	100%		29.8	10.4		3.00%
Bunnings, Taree NSW	100%		14.2	11.8		3.00%
Bunnings, Rosebud Vic	100%		16.0	10.4		3.00%
Total/Weighted average			67.9	10.8		3.00%

80 / Retail / Charter Hall Direct BW Trust

Bunnings Armidale Cnr Barney St & Canambe St, Armidale NSW

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The property comprises a purpose built Bunnings Warehouse facility constructed in 2010. The accommodation is configured over a single level comprising a main trading floor with associated nursery, timber trade and loading bay areas together with at grade parking for approximately 211 vehicles.

The property is located in Armidale, a town in the New England Tablelands of regional New South Wales. Armidale is located approximately 535 kilometres north of Sydney and 465 kilometres south of Brisbane, with a population of 25,000. The property is located east of the town centre, on a high profile site at the corner of Barney Street and Canambe Street.

Summary

Summary
Year built (or refurbished)	2010
Ownership	100%
Total GLA (sqm)	6,929
Valuation (30 June 2014)
Valuation	$7.9 million
Value ($/sqm)	$1,140
Last external valuation date	1 Janurary 2014
Valuer	CBRE
Tenancy statistics
WALE (by income)	11.2 years
Occupancy	100%
Major tenants	GLA (sqm)
Bunnings	6,929

Bunnings Rouse Hill

Cnr Windsor Rd & Annangrove Rd, Rouse Hill NSW

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The property comprises a purpose built Bunnings Warehouse facility constructed in 2012. The property is configured over two levels comprising a main trading floor with associated nursery, timber trade and loading bay areas together with a single level of undercroft parking. The property contains approximately 409 car parking bays.

The property is located in Rouse Hill, a north-western suburb of Sydney, located approximately 30 kilometres from the Sydney CBD. It is located at the corner of Windsor Road, the major arterial road linking Parramatta to the fast growing north-west region of Sydney.

Summary

Summary
Year built (or refurbished)	2012
Ownership	100%
Total GLA (sqm)	12,176
Valuation (30 June 2014)
Valuation	$29.8 million
Value ($/sqm)	$2,447
Last external valuation date	1 Janurary 2014
Valuer	CBRE
Tenancy statistics
WALE (by income)	10.4 years
Occupancy	100%
Major tenants	GLA (sqm)
Bunnings	12,176

Charter Hall Property Portfolio / 30 June 2014 / 81

Bunnings Taree Cnr Wingham Rd & Bushland Dr, Taree NSW

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The property was completed in 2009. The accommodation is configured over a single level comprising a main trading floor with associated nursery, timber trade and loading bay areas together with at grade parking for approximately 344 vehicles. The property is located in Taree, a town on the mid-north coast of regional New South Wales. Taree is located approximately 325 kilometres north of Sydney and 620 kilometres south of Brisbane, and has a population of 20,000.

Summary

Bunnings Rosebud

282 Boneo Rd & 1 & 2 Scotch Ct, Rosebud Vic

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The property was constructed in 2007 and underwent expansion in 2012. The premises provide a modern expanded main warehouse with drive-through timber trade sales, attached bagged goods canopy, outdoor nursery and car parking for approximately 374 vehicles.

The property is located in the bayside suburb of Rosebud, approximately 70 kilometres south of the Melbourne CBD. It is located west off Boneo Road on the fringe of the Rosebud township within an established industrial precinct. The property represents the closest Bunnings for towns south of Rosebud on the Mornington Peninsula, providing a strong catchment area.

Summary

Summary	Summary
Year built (or refurbished) 2009 Ownership 100% Total GLA (sqm) 13,293 Valuation (30 June 2014) Valuation $14.2 million Value ($/sqm) $1,068 Last external valuation date 1 Janurary 2014 Valuer CBRE Tenancy statistics WALE (by income) 11.8 years Occupancy 100% Major tenants GLA (sqm) Bunnings 13,293	Year built (or refurbished) 2007 (2012)
	Ownership 100%
	Total GLA (sqm) 9,654
	Valuation (30 June 2014)
	Valuation $16.0 million
	Value ($/sqm) $1,652
	Last external valuation date 1 Janurary 2014
	Valuer CBRE
	Tenancy statistics
	WALE (by income) 10.4 years
	Occupancy 100%
	Major tenants GLA (sqm)
	Bunnings 9,654

82 / Retail / Keperra Square

Keperra Sqaure

Great Western shopping centre was acquired by Charter Hall in partnership with an institutional investor in July 2013. The Centre comprises 15,000sqm of lettable area, anchored by Woolworths and Aldi supermarkets and is situated on a 65,000sqm corner site with expansion potential. The asset is owned by a wholesale partnership between Charter Hall Group (10%) and an institutional investor (90%).

Top 6 tenants

By gross income

								17%	17%	Woolworths	Woolworths
						7%			Finnigan’s Chin Irish Pub/ 1st Choice
					6%						BCF
				5%							Aldi
4%											Petworks
4%											Keperra Chemmart
3%											Vacant
						12%					FY15
									26%		FY16
	6%										FY17
						12%					FY18
	5%										FY19
4%											FY20
								24%			FY21
					9%						FY22+

Charter Hall Property Portfolio / 30 June 2014 / 83

Great Western Super Centre Keperra Qld

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Situated on a 6.49 hectare site, the centre enjoys a stratgic location at the junction of two major arterial roads, providing excellent acessibility for the surrounding population. The centre offers a choice of two Supermarkets: Woolworths and Aldi; eight mini-majors and over 30 specialty stores.

Summary

Summary
Number of properties	1
Number of tenancies	54
Total GLA (sqm)	15,190
Valuation (30 June 2014)
Valuation	$65.0 million
Value ($/sqm)	$4,279
Tenancy statistics
Portfolio WALE (by income)	3.9 years
Anchor Wale (by income)	7.8 years
Occupancy	95.7%
Major tenants	GLA(sqm)
Woolworths	2,976
Aldi	1,296

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84 / Industrial
Industrial
24 Muir Road, Chullora NSW
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Charter Hall Property Portfolio / 30 June 2014 / 85

Coles Distribution Centre, Perth WA

Charter Hall Property Portfolio / 30 June 2014 / 87

Core Plus Industrial Fund

Charter Hall’s Core Plus Industrial Fund (CPIF) was launched in 2007. The Fund predominantly targets assets within the industrial and logistics sectors in major capital city markets of Australia, and sources a mix of core and enhanced investment grade property assets.

Top 10 tenants

By gross income

										22%	Coles Group	Coles Group
7%											Metcash
7%											Volkswagen
6%											Fosters
6%											Woolworths
5%											Toll Transport
4%											Prixcar
3%											Fastline International
3%											Volvo Group Australia
3%												Arrium
0%												Vacant
		2%										FY15
	4%											FY16
									20%			FY17
			10%									FY18
			9%									FY19
	1%											FY20
	4%											FY21
											50%	FY22+

88 / Industrial / Core Plus Industrial Fund

Fund Statistics

Asset diversification

By current value

Asset diversifcation By current value
24 Muir Road, Chullora NSW	7%
372 Eastern Valley Way, Chatswood NSW	3%
56 Anzac Street, Chullora NSW	2%
11 Huntingwood Drive, Huntingwood NSW	1%
15 Huntingwood Drive, Huntingwood NSW	2%
5 Devon Street, Rosehill NSW	6%
42 Airds Road, Minto NSW	1%
15A Long Street, Smithfeld NSW	3%
15B Long Street, Smithfeld NSW	1%
41-57 South Centre Road, Melbourne Airport Vic	1%
130-138 Link Road, Melbourne Airport Vic	2%
55-65 Sky Road, Melbourne Airport Vic	1%
309 Fitzgerald Road, Derrimut Vic	4%
30 Main Beach Road, Pinkenba Qld	3%
140-160 Robinson Road, Geebung Qld	3%
7 Viola Place, Brisbane Airport Qld	1%
17 Sugarmill Road, Meeandah Qld	3%
80-120 Canberra Street, Hemmant Qld	2%
237 Gooderham Road, Willawong Qld	5%
379 Sherbrooke Road, Willawong Qld	1%
180 Holt Street, Pinkenba Qld	3%
200 Holt Street, Pinkenba Qld	1%
238-260 Gilmore Road, Berrinba Qld	2%
Lot 2 Sherbrooke Road, Willawong Qld	1%
29 Forrest Way, Berrinba Qld	1%
Lot 2, Grand Trunkway, Gillman SA	2%
123-135 Kewdale Road, Kewdale WA	4%
218 Bannister Road, Canning Vale WA	8%
2 Bannister Road, Canning Vale WA	8%
103 Welshpool Road, Welshpool WA	2%
Coles Distribution Centre, Perth Airport WA	11%
4-20 Translink Avenue, Launceston Tas	5%

Core vs. Enhanced assets

By current value

18% 82%

	Core		81%
	Enhanced		19%
Geographical diversifcation
By	current value

2% 5% 7% 26%	34%
	26%

	Western Australia	34%
	Queensland	26%
	New South Wales	26%
	Victoria	7%
	Tasmania	5%
	South Australia	2%

Charter Hall Property Portfolio / 30 June 2014 / 89

Weighted Average Lease Expiry (years)

By gross income

																				25.0	237 Gooderham Rd, WillawongQld
																			22.7	4-20 Translink Avenue, Launceston Tas
																	13.9		Coles Distribution Centre, Perth Airport WA
																	13.4		309 Fitzgerald Road, Derrimut Vic
10.2																			24 Muir Road, Chullora NSW
10.0																			15 Huntingwood Drive, Huntingwood NSW
10.0																			103 Welshpool Road, Welshpool WA
9.5																			30 Main Beach Road, Pinkenba Qld
9.5																			218 Bannister Road, Canning Vale WA
8.4																			80-120 Canberra Street, Hemmant Qld
8.0																			379 Sherbrooke Road, Willawong Qld
7.5																			15A Long Street, Smithfeld NSW
7.3																			17 Sugarmill Road, Meeandah Qld
7.0																			Lot 2, Grand Trunkway, Gillman SA
6.2																			56 Anzac Street, Chullora NSW
5.5																			42 Airds Road, Minto NSW
5.2																			130-138 Link Road, Melbourne Airport Vic
5.0																			123-135 Kewdale Road, Kewdale WA
5.0																			372 Eastern Valley Way, Chatswood NSW
4.9																			41-57 South Centre Road, Melbourne Airport Vic
3.9																			140-160 Robinson Road, Geebung Qld
3.2																			5 Devon Street, Rosehill NSW
2.7																			7 Viola Place, Brisbane Airport Qld
2.3																			55-65 Sky Road, Melbourne Airport Vic
2.3																			2 Bannister Road, Canning Vale WA
1.5																			180 Holt Street, Pinkenba Qld
0.1																			11 Huntingwood Drive, Huntingwood NSW
										8.4									WALE

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June 2014 Capitalisation Rate 7.90% June 2014 Discount Rate 9.63%”

309 Fitzgerald Road, Derrimut Vic

Charter Hall Property Portfolio / 30 June 2014 / 91

		CPIF	CPIF	Jun 2014	WALE (years)	WALE (years)	Weighted avg
		Ownership %		valuation (A$M)			rent reviews (%)
24 Muir Road, Chullora NSW		100%		65.5	10.2		3.25%
372 Eastern Valley Way, Chatswood NSW		100%		32.0	5.0		3.61%
56 Anzac Street, Chullora NSW		100%		18.0	6.2		3.06%
11 Huntingwood Drive, Huntingwood NSW		100%		6.5	0.1		3.50%
15 Huntingwood Drive, Huntingwood NSW		100%		19.8	10.0		3.00%
5 Devon Street, Rosehill NSW		100%		51.5	3.2		3.50%
42 Airds Road, Minto NSW		100%		12.7	5.5		2.75%
15A Long Street, Smithfeld NSW		100%		23.9	7.5		3.50%
15B Long Street, Smithfeld NSW		100%		8.3	land		land
41-57 South Centre Road, Melbourne Airport Vic		100%		11.9	4.9		3.50%
130-138 Link Road, Melbourne Airport Vic		100%		15.0	5.2		3.50%
55-65 Sky Road, Melbourne Airport Vic		100%		7.4	2.3		3.50%
309 Fitzgerald Road, Derrimut Vic		100%		32.0	13.4		3.50%
30 Main Beach Road, Pinkenba Qld		100%		30.5	9.5		3.25%
140-160 Robinson Road, Geebung Qld		100%		27.3	3.9		3.23%
7 Viola Place, Brisbane Airport Qld		100%		7.8	2.7		3.25%
17 Sugarmill Road, Meeandah Qld		100%		23.7	7.3		3.94%
80-120 Canberra Street, Hemmant Qld		100%		17.4	8.4		3.25%
237 Gooderham Road, Willawong Qld		100%		46.5	25.0		3.25%
379 Sherbrooke Road, Willawong Qld		100%		8.2	8.0		3.50%
180 Holt Street, Pinkenba Qld		100%		28.0	1.5		2.80%
200 Holt Street, Pinkenba Qld		100%		10.2	land		land
238-260 Gilmore Road, Berrinba Qld		100%		18.1	land		land
Lot 2 Sherbrooke Road, Willawong Qld		100%		12.3	land		land
29 Forrest Way, Berrinba Qld		100%		8.0	land		land
Lot 2, Grand Trunkway, Gillman SA		100%		18.3	7.0		3.00%
123-135 Kewdale Road, Kewdale WA		100%		37.0	5.0		4.00%
218 Bannister Road, Canning Vale WA		50%		77.0	9.5		3.00%
2 Bannister Road, Canning Vale WA		100%		74.5	2.3		3.00%
103 Welshpool Road, Welshpool WA		100%		18.6	10.0		3.50%
Coles Distribution Centre, Perth Airport WA		50%		98.0	13.9		2.75%
4-20 Translink Avenue, Launceston Tas		50%		41.1	22.7		2.80%
Total/Weighted average				907.0	8.4		3.10%

92 / Industrial / Core Plus Industrial Fund

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 high clearance 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 and onsite expansion of up to 8,000sqm.

Summary

Summary
Year built (or refurbished)		2011
Ownership		100%
Total GLA (sqm)		26,739
Valuation (30 June 2014)
Valuation		$65.5 million
Value ($/sqm)		$2,450
Last external valuation date		30 June 2014
Valuer		Knight Frank
Tenancy statistics
WALE (by income)		10.2 years
Occupancy		100%
Major tenants		GLA (sqm)
Volkswagen Group		26,739

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. Bunnings now occupies the adjoining site.

Summary

Summary
Year built (or refurbished)	1986
Ownership	100%
Total GLA (sqm)	12,674
Valuation (30 June 2014)
Valuation	$32.0 million
Value ($/sqm)	$2,525
Last external valuation date	30 June 2014
Valuer	CBRE
Tenancy statistics
WALE (by income)	5.0 years
Occupancy	100%
Major tenants	GLA (sqm)
Petbarn	3,624
The Good Guys	2,566

Charter Hall Property Portfolio / 30 June 2014 / 93

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 approximately 21,204sqm. Internal clearance up to 13 metres and access is provided via a series of 15 roller shutter doors with a large covered awning and large open marshalling areas.

Summary

Summary
Year built (or refurbished)	2010
Ownership	100%
Total GLA (sqm)	27,911
Valuation (30 June 2014)
Valuation	$18.0 million
Value ($/sqm)	$668
Last external valuation date	30 June 2014
Valuer	CBRE
Tenancy statistics
WALE (by income)	4.3 years
Occupancy	100%
Major tenants	GLA (sqm)
Australia Post	10,507
Shriro	10,409
Volvo	6,995

11-15 Huntingwood Drive Huntingwood NSW

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The property incorporates a modern generic logistics facility that has a gross lettable area of 5,391sqm with awnings of a further 267sqm. The property is in good condition with the improvements being circa 18 years old incorporating an office ratio of 8%, with offering a large hardstand/truck marshalling are and onsite car parking for approximately 72 vehicles. The property forms part of a larger logistics estate combining with the funds adjoining 15 Huntingwood Drive.

Summary

Summary
Year built (or refurbished)	1995
Ownership	100%
Total GLA (sqm)	5,391
Valuation (30 June 2014)
Valuation	$6.5 million
Value ($/sqm)	$1,206
Last external valuation date	30 June 2014
Valuer	Knight Frank
Tenancy statistics
WALE (by income)	0.1 years
Occupancy	100%
Major tenants	GLA (sqm)
Just Group	5,391

94 / Industrial / Core Plus Industrial Fund

15 Huntingwood Drive Huntingwood NSW

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The property incorporates a modern logistics facility that has a gross lettable area of 11,736sqm, with a reinforced concrete mezzanine within the warehouse of a further 1,598sqm and awnings of 1,219sqm. The property is situated on a site of 3.67 hectares (site coverage of 32%) in the established industrial estate of Huntingwood, adjoining the M4 motorway approximately 34 kilometres west of the Sydney CBD and 10 kilometres west of Parramatta.

The site provides for a further potential 3,000sqm of GLA.

5 Devon Street Rosehill NSW

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The generic logistics facility is situated within the established land constrained industrial suburb of Rosehill, approximately 2.5 radial kilometres east of the Parramatta Central Business District and approximately 21 kilometres west of the Sydney Central Business District. The site sits adjacent to the M4 Motorway with other nearby warehousing and distribution centres includes Ryobi, Bunnings, Linfox, Miele, Veolia and Allied Express. Improvements comprise a 30,867sqm high clearance, generic logistics facility currently leased to SAB Miller. The building also offers the flexibility to be split.

Summary Year built (or refurbished) 1996 Ownership 100% Total GLA (sqm) 11,736 Valuation (30 June 2014) Valuation $19.8 million Value ($/sqm) $1,3281 Last external valuation date 30 June 2014 Valuer Knight Frank Tenancy statistics WALE (by income) 10.0 years Occupancy 100% Major tenants GLA (sqm) Danks (woolworths limited) 11,736	Summary
	Year built (or refurbished) 2007
	Ownership 100%
	Total GLA (sqm) 30,867
	Valuation (30 June 2014)
	Valuation $51.5 million
	Value ($/sqm) $1,680
	Last external valuation date 30 June 2014
	Valuer Jones Lang LaSalle
	Tenancy statistics
	WALE (by income) 3.2 years
	Occupancy 100%
	Major tenants GLA (sqm)
	Fosters 30,867

Charter Hall Property Portfolio / 30 June 2014 / 95

42 Airds Road Minto NSW

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The generic distribution centre is located on the eastern side of Airds Road which is the main link road of the Minto industrial area and is within close proximity to the Campbelltown Road ramps to the M5 Motorway that provide access in both northern and southerly directions. The property is situated on a designated B-double route. The Minto Industrial area is located within the South Western Sydney region within close proximity to the M5 and M7 Motorways.

Summary

Summary
Year built (or refurbished)	1990
Ownership	100%
Total GLA (sqm)	10,766
Valuation (30 June 2014)
Valuation	$12.7 million
Value ($/sqm)	$1,180
Last external valuation date	30 June 2014
Valuer	CBRE
Tenancy statistics
WALE (by income)	5.5 years
Occupancy	100%
Major tenants	GLA (sqm)
VIP Plastic Packaging	10,766

15A Long Street Smithfield NSW

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The site is situated within Smithfield, a land constrained, inner ring established industrial suburb of western Sydney. Smithfield is located approximately 30 kilometres west of the Sydney CBD and is close to the M4 motorway. The property lies on the corner of Long and Britton Streets some 750 metres from the Cumberland Highway. The Cumberland Highway provides connection with the M4 Motorway in the north and the Hume Highway in the south. The Fund recently completed the development of a purpose built, generic 16,500sqm distribution facility leased to Northline Logistics for an initial 8 year term.

	an initial 8 year term.
	Summary
	Year built (or refurbished)	2014
	Ownership	100%
	Total GLA (sqm)	16,500
	Valuation (30 June 2014)
	Valuation	$23.9 million
	Value ($/sqm)	$1,445
	Last external valuation date	30 June 2014
	Valuer	CBRE
	Tenancy statistics
	WALE (by income)	7.5 years
	Occupancy	100%
	Major tenants	GLA (sqm)
	Northline Logistics	16,500

96 / Industrial / Core Plus Industrial Fund

15B Long Street Smithfield NSW

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The land comprises stage two of the Funds Smithfield Industrial estate with a total remaining area of 3.4ha which has capacity to develop up to 17,000sqm of GLA.

Summary

Summary
Year built (or refurbished)	2014
Ownership	100%
Total GLA (sqm)	32,747
Valuation (30 June 2014)
Valuation	$8.3 million
Value ($/sqm)	$255
Last external valuation date	30 June 2014
Valuer	CBRE

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.

	Summary
	Year built (or refurbished)	2009
	Ownership	100%
	Total GLA (sqm)	13,716
	Valuation (30 June 2014)
	Valuation	$11.9 million
	Value ($/sqm)	$864
	Last external valuation date	30 June 2014
	Valuer	Savills
	Tenancy statistics
	WALE (by income)	4.9 years
	Occupancy	100%
	Major tenant	GLA (sqm)
	DB Schenker	13,716

Charter Hall Property Portfolio / 30 June 2014 / 97

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 leased to the Victorian Government.

Summary

Summary
Year built (or refurbished)	2006
Ownership	100%
Total GLA (sqm)	21,157
Valuation (30 June 2014)
Valuation	$15.0 million
Value ($/sqm)	$709
Last external valuation date	30 June 2014
Valuer	Savills
Tenancy statistics
WALE (by income)	5.2 years
Occupancy	100%
Major tenants	GLA (sqm)
Victorian Electoral Commission	10,678
Caterpillar	10,479

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.

Summary

Summary
Year built (or refurbished)	2006
Ownership	100%
Total GLA (sqm)	10,040
Valuation (30 June 2014)
Valuation	$7.4 million
Value ($/sqm)	$732
Last external valuation date	30 June 2014
Valuer	Savills
Tenancy statistics
WALE (by income)	2.3 years
Occupancy	100%
Major tenants	GLA (sqm)
Kathmandu	10,040

98 / Industrial / Core Plus Industrial Fund

309 Fitzgerald Road Derrimut Vic

30 Main Beach Road Pinkenba Qld

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Situated on a 48,253sqm site is a modern 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.

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The Arrium 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 ongrade dock access.

Summary

Summary

Summary	Summary
Year built (or refurbished) 2002 Ownership 100% Total GLA (sqm) 27,432 Valuation (30 June 2014) Valuation $32.0 million Value ($/sqm) $1,167 Last external valuation date 30 June 2014 Valuer m3 Property Tenancy statistics WALE (by income) 13.4 years Occupancy 100% Major tenants GLA (sqm) Fastline International 27,432	Year built (or refurbished) 2008
	Ownership 100%
	Total GLA (sqm) 11,705
	Valuation (30 June 2014)
	Valuation $30.5 million
	Value ($/sqm) $2,579
	Last external valuation date 30 June 2014
	Valuer Jones Lang LaSalle
	Tenancy statistics
	WALE (by income) 9.5 years
	Occupancy 100%
	Major tenant GLA (sqm)
	Arrium 11,705

Charter Hall Property Portfolio / 30 June 2014 / 99

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.

7 Viola Place Brisbane Airport Qld

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The property comprises a 14,920sqm leasehold site, improved with a newly completed logistics 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. Offstreet 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.

Summary

Summary

Year built (or refurbished) 2002-2006 Ownership 100% Total GLA (sqm) 17,376 Valuation (30 June 2014) Valuation $27.3 million Value ($/sqm) $1,581 Last external valuation date 30 June 2014 Valuer Knight Frank Tenancy statistics WALE (by income) 3.9 years Occupancy 100% Major tenants 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	Year built (or refurbished) 2007
	Ownership 100%
	Total GLA (sqm) 6,550
	Valuation (30 June 2014)
	Valuation $7.8 million
	Value ($/sqm) $1,191
	Last external valuation date 30 June 2014
	Valuer Jones Lang LaSalle
	Tenancy statistics
	WALE (by income) 2.7 years
	Occupancy 100%
	Major tenant GLA (sqm)
	Toll Transport 6,550

100 / Industrial / Core Plus Industrial Fund

17 Sugarmill Road Meeandah 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 space erected in three buildings, together with 135 car spaces. The estate has a GLA of 14,244sqm with approved expansion potential of approximately 4,150sqm and ability to sell 3 separate allotments.

Summary

Summary
Year built (or refurbished)	1991/1996
Ownership	100%
Total GLA (sqm)	14,244
Valuation (30 June 2014)
Valuation	$23.7 million
Value ($/sqm)	$1,663
Last external valuation date	30 June 2014
Valuer	Knight Frank
Tenancy statistics
WALE (by income)	7.3 years
Occupancy	100%
Major tenants	GLA (sqm)
Thales	10,016
CV Services	2,943

80 -120 Canberra Street Hemmant Qld

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The property comprises a level and regular shaped industrial site of 4.8103 hectare (45,000sqm of useable) that is situated on a high profile corner location in the established and land constrained industrial area of Hemmant within the southern Trade Coast precinct of Brisbane.

The property is within close proximity to the Port of Brisbane and is easily accessed via Lytton Road and the Port of Brisbane Motorway, with on/off ramps to the Motorway located approximately 700 metres to the east. The site is also within close proximity to the Gateway Arterial Motorway, offering ease of access both north and south.

Summary

Summary
Year built (or refurbished)	n/a
Ownership	100%
Total GLA (sqm)	45,000
Valuation (30 June 2014)
Valuation	$17.4 million
Value ($/sqm)	$386
Last external valuation date	30 June 2014
Valuer	Jones Lang LaSalle
Tenancy statistics
WALE (by income)	8.4 years
Occupancy	100%
Major tenants	GLA (sqm)
Tyne	45,000

Charter Hall Property Portfolio / 30 June 2014 / 101

237 Gooderham Road Willawong Qld

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

Artist’s Impression
----- End of picture text -----

The Property is situated 15 radial kilometres south of the Brisbane CBD at Willawong, an emerging industrial area that directly adjoins Acacia Ridge, one of the prime industrial locations in south east Queensland, which features easy access to major road infrastructure such as the Logan Motorway and Ipswich Highway. Upon completion in early 2015 at which time PrixCar will commence a new 25 year lease, the Property will comprise a modern freestanding industrial warehouse facility of 4,587sqm, with covered hardstand areas totalling 57,163sqm and uncovered hardstand areas totalling 56,000sqm on a site area of 14.65 hectares.

Summary

Summary
Year built (or refurbished)	2014
Ownership	100%
Total GLA (sqm)	4,587
Valuation (30 June 2014)
Valuation	$46.5
Site value ($/sqm)	$317
Last external valuation date	30 June 2014
Valuer	Knight Frank
Tenancy statistics
WALE (by income)	25.0 years
Occupancy	100%
Major tenants	GLA (sqm)
Prixcar	4,587

379 Sherbrooke Road Willawong QLD

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

Artist’s Impression
----- End of picture text -----

The Property is situated on the western side of Sherbrooke Road, Willawong, and approximately 15 radial kilometres south of the Brisbane CBD.

Upon completion of the facility in early 2015 the property will comprise a freestanding, modern office and high clearance industrial warehouse facility of approximately 3,400sqm developed on a 8,018sqm site. The property is being purpose built for AkzoNobel, a leading multi national company. On completion AkzoNobel will commence an 8 year lease with annual reviews to the greater of CPI or 3.5%.

Summary

Summary
Year built (or refurbished)	2014
Ownership	100%
Total GLA (sqm)	3,400
Valuation (30 June 2014)
Valuation	$8.2 million
Value ($/sqm)	$2,412
Last external valuation date	30 June 2014
Valuer	Knight Frank
Tenancy statistics
WALE (by income)	8.0 years
Occupancy	100%
Major tenants	GLA (sqm)
Akzo Nobel	3,400

102 / Industrial / Core Plus Industrial Fund

180 Holt Street Pinkenba Qld

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

Artist’s Impression
----- End of picture text -----

The property is located approximately 8km north-east of Brisbane’s CBD and is situated in the heart of Brisbane’s well established Eagle Farm industrial precinct and is easily accessed via Kingsford Smith Drive and within very close proximity to the Gateway Arterial Motorway (M1), offering ease of access both north and south along with direct connectivity with Brisbane Airport and the port of Brisbane.

The improvements consist of an 18,728sqm generic distribution facility on a 6.4ha site currently leased to Toll Transport. The property adjoins the Funds 200 Holt Street site providing the ability to expand the building/estate by a further 20,000sqm.

Summary

Summary
Year built (or refurbished)	2013
Ownership	100%
Total GLA (sqm)	18,728
Valuation (30 June 2014)
Valuation	$28.0 million
Value ($/sqm)	$1,492
Last external valuation date	30 June 2014
Valuer	Knight Frank
Tenancy statistics
WALE (by income)	1.5 years
Occupancy	100%
Major tenants	GLA (sqm)
Toll Holdings	18,728

200 Holt Street Pinkenba Qld

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The property comprises a 31,880sqm site providing total potential 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

Summary
Year built (or refurbished)	Development site
Ownership	100%
Site area (ha)	3.18
Valuation (30 June 2014)
Valuation	$10.4 million
Value ($/sqm)	$321
Last external valuation date	30 June 2014
Valuer	Knight Frank

Charter Hall Property Portfolio / 30 June 2014 / 103

230-238 Gilmore Road, Berrinba, QLD

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

Artist’s Impression
----- End of picture text -----

The site is located in the emerging prime industrial precinct of Berrinba approximately 21 kilometres south-east of the Brisbane CBD, 23 kilometres south of the Gateway Bridge and 28 kilometres from the Port of Brisbane.

Berrinba has become a preferred location over several other older established industrial areas such as Acacia Ridge and Richlands largely due to the ease of access for truck movements from the Port of Brisbane and the Brisbane Airport via the Gateway, Pacific & Logan Motorways which are the main link roads to Yatala, the Gold Coast and the western industrial precincts through to Ipswich and Toowoomba.

Summary

Summary
Ownership	100%
Site size (sqm)	78,295
Total proposed GLA (sqm)	40,000
Valuation (30 June 2014)
Value ($/sqm)	$231 million
Last external valuation date	30 June 2014
Valuer	m3 Property

Lot 2 Sherbrooke Road Willawong QLD

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

Artist’s Impression
----- End of picture text -----

The property is situated in the established Brisbane southern suburb of Willawong, approximately 17 kilometres by road from the Brisbane Central Business District and 3km from the Acacia Ridge precinct.

The industrial area of Willawong is an emerging precinct with some large (5ha plus) vacant sites available that is expected to become popular with transport and logistics users as infrastructure upgrades take place and industrial land along the Logan Motorway is developed over the next 5 years.

Summary

Summary
Ownership	100%
Site size (sqm)	61,425
Total proposed GLA (sqm)	33,000
Valuation (30 June 2014)
Valuation	$12.3 million
Value ($/sqm)	$200
Last external valuation date	30 June 2014
Valuer	m3 Property

104 / Industrial / Core Plus Industrial Fund

29 Forrest Way Berrinba Qld

==> picture [236 x 180] intentionally omitted <==

The LoganLink Industrial Park is strategically located in the sought after Logan Motorway corridor, within close proximity to the Gateway Motorway and is located approximately 22 radial kilometres south of the Brisbane CBD. This site is positioned to take advantage of Brisbane’s major transport corridors. The site area of 3.46 ha with capacity to develop a facility that can be leased in either one line of up to 19,000sqm or as two separate tenancies ranging in sizes between 4,900sqm and 13,882sqm. The two tenant scheme will enjoy complete independence of operations via separate truck and car entries for each facility.

Summary

Summary
Year built (or refurbished)	n/a
Ownership	100%
Total GLA (sqm)	34,566
Valuation (30 June 2014)
Valuation	$8.0 million
Value ($/sqm)	$230
Last external valuation date	30 June 2014
Valuer	Jones Lang LaSalle

Lot 2, Grand Trunkway Gillman SA

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The property comprise a 31,588sqm generic distribution centre and is well located, approximately 18 km north west of Adelaide CBD. The property is a short distance from the Port River Expressway which provides a direct link to national Highway One. The Port River Expressway is a recent extension of the Salisbury Highway linking the Port to the north of Adelaide. The property also benefits from being a short distance to interstate rail networks and easy linkages to outer harbour (Adelaide’s major port) and was recently refurbished to include and ESFR upgrade.

Summary

Summary
Year built (or refurbished)	2013
Ownership	100%
Total GLA (sqm)	31,588
Valuation (30 June 2014)
Valuation	$18.3 million
Value ($/sqm)	$578
Last external valuation date	30 June 2014
Valuer	Savills
Tenancy statistics
WALE (by income)	7.0 years
Occupancy	100%
Major tenants	GLA (sqm)
AWH Pty Ltd	31,588

Charter Hall Property Portfolio / 30 June 2014 / 105

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 2,071sqm of office and 26,947sqm of warehouse space. The facility provides complete drive around and double access, in addition to both on-grade and dock access.

Summary

Summary
Year built (or refurbished)	2007
Ownership	100%
Total GLA (sqm)	29,039
Car spaces	n/a
Valuation (30 June 2014)
Valuation	$37.0 million
Value ($/sqm)	$1,275
Last external valuation date	30 June 2014
Valuer	m3 Property
Tenancy statistics
WALE (by income)	5.0 years
Occupancy	100%
Major tenant	GLA (sqm)
Chevron	14,362
Myer	12,585
Woolworths	2,071

218 Bannister Road, Canning Vale WA

==> picture [236 x 180] intentionally omitted <==

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 precinct 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. The improvements comprise a number of separate buildings providing future flexibility.

Summary

Summary
Year built (or refurbished)	2011
Ownership	50%
Total GLA (sqm)	98,265
Car spaces	950
Valuation (30 June 2014)
Valuation	$77.0 million
Value ($/sqm)	$1,567
Last external valuation date	30 June 2014
Valuer	m3 Property
Tenancy statistics
WALE (by income)	9.0 years
Occupancy	100%
Major tenants	GLA (sqm)
Metcash Limited	98,265

106 / Industrial / Core Plus Industrial Fund

2 Bannister Road Canning Vale WA

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The subject property comprises a 16.8ha high profile corner site with an 83,242 sqm of generic high clearance warehouse and office facility, located in Canning Vale which is a sought after logistics precinct situated approximately 14 kilometres southeast of the Perth Central Business District and has limited supply of land to be developed. Bannister Road is the major thoroughfare through Canning Vale connecting directly with South Street and Nicholson Roads, which are both entry/ exit ramps to Roe Highway. The property is currently leased to Kmart and provides considerable flexibility reflective of its generic design and expansion potential.

Summary

Summary
Year built (or refurbished)		2002
Ownership		100%
Total GLA (sqm)		83,242
Valuation (30 June 2014)
Valuation		$74.5 million
Value ($/sqm)		$898
Last external valuation date		30 June 2014
Valuer		Jones Lang LaSalle
Tenancy statistics
WALE (by income)		2.3 years
Occupancy		100%
Major tenants		GLA (sqm)
Coles/ Kmart (Wesfarmers)		83,242

103 Welshpool Road Welshpool WA

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The subject site is located approximately 4 kilometres north of the Cannington Town Centre and 850 metres from Welshpool Train Station. The site is situated in the core and very tightly held Welshpool Industrial area.

It has a site area of 3.199 hectares and is located on a major intersection with prominent exposure and frontage to the Leach Highway and Welshpool Road. It has been acquired with a new 10 year, triple net lease to Milne Feeds (part of the Milne Agrigroup) comprising fixed annual reviews of 3.5% and offers a number of future development options.

Summary

Summary
Year built (or refurbished)		Future Development
Ownership		100%
Total GLA (sqm)		31,990
Valuation (30 June 2014)
Valuation		$18.6 million
Value ($/sqm)		$581
Last external valuation date		30 June 2014
Valuer		Savills
Tenancy statistics
WALE (by income)		10.0 years
Occupancy		100%
Major tenants		GLA (sqm)
Milne Feeds		31,990

Charter Hall Property Portfolio / 30 June 2014 / 107

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.

Summary

Summary
Year built (or refurbished)	2008
Ownership	50%
Total GLA (sqm)	81,647
Valuation (30 June 2014)
Valuation (50%)	$98.0 million1
Value ($/sqm)	$2,401
Last external valuation date	30 June 2014
Valuer	Savills
Tenancy statistics
WALE (by income)	13.9 years
Occupancy	100%
Major tenants	GLA (sqm)
Coles Group Ltd	81,647

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.

Summary

Summary
Year built (or refurbished)	2012
Ownership	50%
Total GLA (sqm)	45,041
Car spaces	394
Valuation (30 June 2014)
Valuation	$41.1 million
Value ($/sqm)	$1,825
Last external valuation date	30 June 2014
Valuer	Savills
Tenancy statistics
WALE (by income)	22.7 years
Occupancy	100%
Major tenants	GLA (sqm)
Woolworths Ltd	45,041

Note: 1. 100% property value is $196 million

108 / Industrial / Charter Hall Direct Industrial Fund

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

Toll Fleet & Auto Logistics Centre Altona North Vic
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Charter Hall Property Portfolio / 30 June 2014 / 109

Charter Hall Direct Industrial Fund

Established in July 2010, the Charter Hall Direct Industrial Fund (DIF1) is an unlisted property fund which invests directly in a diversified selection of prime Australian industrial assets. The Fund aims to provide retail investors with sustainable and stable, tax-advantaged income payable quarterly.

Top 5 tenants

By gross income

								21%		Coles Grace Worldwide Toll Holdings Woolworths Electrolux
							19%
			15%
			14%
12%
Weighted Average Lease Expiry (years) By gross income
									18.7	Coates Hire Distribution Centre
						13.9				Coles Distribution Centre
			12.0						Australia Post Distribution Centre
			11.4						Toll Fleet & Auto Logistics Centre
		10.6							Electrolux Distribution Centre
	9.1								Grace Worldwide Logistics Facility
6.5									Woolworths Distribution Centre
		11.3							WALE

110 / Industrial / Charter Hall Direct Industrial Fund

Fund Statistics

Asset diversifcation
By current value
Australia Post Distribution Centre Kingsgrove, NSW	8%
Toll Fleet & Auto Logistics Centre Altona, Vic	13%
Woolworths Distribution Centre Hoppers Crossing, Vic	19%
Coates Hire Distribution Centre Kingston, Qld	10%
Grace Worldwide Logistics Facility Willawong, Qld	15%
Electrolux Distribution Centre Beverley, SA	13%
Coles Distribution Centre1Perth Airport, WA	22%

Geographical diversification By current value

8%	8%	32%
13%
22%		25% 1
	Victoria	32%
	Queensland	25%1
	Western Australia	22%
	South Australia	13%
	New South Wales	8%

Annual lease expiry

By net lettable area

0%		Vacant
0%		FY15
0%		FY16
0%		FY17
0%		FY18
0%		FY19
0%		FY20
19%		FY21
	81%	FY22+

Note 1. Fund’s 25% interest

Charter Hall Property Portfolio / 30 June 2014 / 111

Property Portfolio

==> picture [55 x 56] intentionally omitted <==

June 2014 Capitalisation Rate 7.70% June 2014 Discount Rate 9.62%”

		DIF	DIF	Jun 2014	WALE (years)	WALE (years)	Weighted Avg
		Ownership %		valuation A$M			rent reviews (%)
Australia Post Distribution Centre Kingsgrove, NSW		100%		16.9	12.0		3.50%
Toll Fleet & Auto Logistics Centre Altona, Vic		100%		28.1	11.4		3.50%
Woolworths Distribution Centre Hoppers Crossing, Vic		100%		43.4	6.5		3.00%
Coates Hire Distribution Centre Kingston, Vic		100%		22.9	18.7		4.00%
Grace Worldwide Logistics Facility Willawong, Qld		100%		33.2	9.1		3.50%
Electrolux Distribution Centre Beverley, SA		100%		29.0	10.6		3.50%
Coles Distribution Centre Perth Airport, WA		25%		49.01	13.9		2.75%
Total/Weighted average				222.5	11.3		3.30%

Note 1. Fund’s 25% interest

112 / Industrial / Charter Hall Direct Industrial Fund

Australia Post Distribution Centre Kingsgrove NSW

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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.

Summary

Summary
Year built (or refurbished)		2011
Ownership		100%
Total GLA (sqm)		6,729
Valuation (30 June 2014)
Valuation		$16.9 million
Value ($/sqm)		$2,512
Last external valuation date		31 December 2013
Valuer		Savills
Tenancy statistics
WALE (by income)		12.0 years
Occupancy		100%
Major tenants		GLA (sqm)
Australia Post		6,729

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 $4.1 billion.

	Summary
	Year built (or refurbished)		2010
	Ownership		100%
	Total GLA (sqm)		6,310
	Valuation (30 June 2014)
	Valuation		$28.1 million
	Value ($/sqm)		$4,4531
	Last external valuation date		31 December 2013
	Valuer		Jones Lang LaSalle
	Tenancy statistics
	WALE (by income)		11.4 years
	Occupancy		100%
	Major tenants		GLA (sqm)
	Toll Holdings		6,310

Note:

1. Reflects low site cover ratio of 13%. Site sales rate is $540/sqm

Charter Hall Property Portfolio / 30 June 2014 / 113

Woolworths Distribution Centre Hoppers Crossing Vic

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The Woolworths Distribution Centre is a modern logistics facility situated on a site of 14.5 ha 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.

Summary

Summary
Year built (or refurbished)		1989 (2010)
Ownership		100%
Total GLA (sqm)		52,364
Valuation (30 June 2014)
Valuation		$43.4 million
Value ($/sqm)		$828
Last external valuation date		30 June 2014
Valuer		Savills
Tenancy statistics
WALE (by income)		6.5 years
Occupancy		100%
Major tenants		GLA (sqm)
Woolworths Ltd		52,364

Coates Hire Distribution Centre 29-47 Mudgee Street Kingston, Qld

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The property was purpose built in 2012 for Coates Hire, who are Australia’s largest equipment hire company with over 125 years experience.

The property is situated on a site with a usable area of 5.4 ha that is located in the established industrial locality of Kingston, approximately 24 kilometres south-east of the Brisbane CBD. The property features significant exposure to the Logan Motorway, which is one of South-East Queensland’s busiest transport routes.

Summary

Summary
Year built (or refurbished)		2012
Ownership		100%
Total GLA (sqm)		54,1261
Valuation (30 June 2014)
Valuation		$22.9 million
Value ($/sqm)		$2361
Last external valuation date		31 December 2013
Valuer		Savills
Tenancy statistics
WALE (by income)		18.7 years
Occupancy		100%
Major tenants		GLA (sqm)
Coates Hire		54,126

Note: 1. Net usable land area is approximately 5.4 ha

114 / Industrial / Charter Hall Direct Industrial Fund

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.

Summary

Summary
Year built (or refurbished)		2011
Ownership		100%
Total GLA (sqm)		22,108
Valuation (30 June 2014)
Valuation		$33.3 million
Value ($/sqm)		$1,504
Last external valuation date		31 December 2013
Valuer		m3 Property
Tenancy statistics
WALE (by income)		9.1 years
Occupancy		100%
Major tenants		GLA (sqm)
Grace Worldwide		22,108

Electrolux Distribution Centre Beverley, SA

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The brand new logistics facility incorporates a high clearance warehouse with attached air conditioned offices and showroom that has a combined gross lettable area of 25,562sqm. The facility was completed in December 2012 and was purpose built for Electrolux.

The property is situated on a site of 4ha in the inner ring suburb of Beverley, approximately 6 kilometres north west of the Adelaide CBD in an established industrial precinct, with good access to major arterial roads and is in close proximity to the Adelaide Airport and Port of Adelaide.

Summary

Summary
Year built (or refurbished)		2013
Ownership		100%
Total GLA (sqm)		25,562
Valuation (30 June 2014)
Valuation		$29.0 million
Value ($/sqm)		$1,137
Last external valuation date		31 December 2013
Valuer		Knight Frank
Tenancy statistics
WALE (by income)		10.6 years
Occupancy		100%
Major tenants		GLA (sqm)
Electrolux Home Products Pty	Ltd 25,562

Coles Distribution Centre Perth Airport, 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.

Summary

Summary
Year built (or refurbished)		2008
Ownership		25%
Total GLA (sqm)		81,647
Valuation (30 June 2014)
Valuation (25%)		$49.0 million1
Value ($/sqm)		$2,401
Last external valuation date		30 June 2014
Valuer		Savills
Tenancy statistics
WALE (by income)		13.9 years
Occupancy		100%
Major tenants		GLA (sqm)
Coles Group Ltd		81,647

Grace Worldwide Logistics Facility, Willawong Qld

Note: 1. 100% property value is $196 million

Australia Post Distribution Centre, Rowville Vic

Charter Hall Property Portfolio / 30 June 2014 / 117

Charter Hall Direct Industrial Fund No.2

The Charter Hall Direct Industrial Fund No.2 (DIF2) was established in December 2012 following the success in closing the first Charter Hall Direct Industrial Fund. DIF2 is an unlisted property fund progressively investing in a diversified portfolio of prime Australian industrial property assets.

Top 5 tenants

By gross income

								48%	48%	Coles
		28%								OneSteel
	11%									Grace Worldwide
7%										Toll Holdings
6%										Australia Post
								13.9		Australia Post Distribution Centre
								13.9	Coles Distribution Centre, Perth
				12.7					Coles Distribution Centre, Adelaide
				12.0					Toll NQX Logistics
				12.0				Grace	Worldwide Logistics Facility
				11.3					OneSteel Industrial Facility, Bibra Lake
			9.2						OneSteel Industrial Facility, St Marys
					12.3				WALE

118 / Industrial / Charter Hall Direct Industrial Fund No.2

Fund Statistics

Asset diversification By current value

Grace Worldwide Logistics Facility, Campbelltown NSW	14%
OneSteel Industrial Facility, St Marys NSW	12%
Australia Post Distribution Centre, Rowville Vic.	6%
Toll NQX Logistics Gracemere, Qld	7%
Coles Distribution Centre, Adelaide SA	20%
OneSteel Industrial Facility, Bibra Lake WA	13%
Coles Distribution Centre, Perth WA	28%

Geographical diversification

By current value

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

6% 41%
7%
20%
26%
----- End of picture text -----

	Western Australia	41%
	New South Wales	26%
	South Australia	20%
	Queensland	7%
	Victoria	6%

Annual lease expiry

By net lettable area

0%	Vacant
0%	FY15
0%	FY16
0%	FY17
0%	FY18
0%	FY19
0%	FY20
0%	FY21
100%	FY22+

Charter Hall Property Portfolio / 30 June 2014 / 119

Fund Statistics

==> picture [55 x 56] intentionally omitted <==

June 2014 Capitalisation Rate 7.74% June 2014 Discount Rate 9.50%”

	DIF2	DIF2	Jun 2014	WALE (years)	WALE (years)	Weighted Avg
	Ownership %		valuation A$M			rent reviews (%)
Grace Worldwide Logistics Facility 6 Hepher Road, Campbelltown NSW	100%		24.6	12.0		3.20%
OneSteel Industrial Facility 10-38 Forrester Road, St Marys NSW	100%		21.9	9.2		3.25%
Australia Post Distribution Centre 15-21 Enterprise Drive, Rowville Vic.	100%		10.0	13.9		3.25%
Toll NQX Logistics 245 Somerset Rd, Gracemere, Qld	100%		12.9	12.0		3.50%
Coles Distribution Centre 2 Sturton Road, Adelaide SA	24%		36.7	12.7		2.75%
OneSteel Industrial Facility 1 Howson Way, Bibra Lake WA	100%		24.0	11.3		3.25%
Coles Distribution Centre Perth Airport WA	25%		49.01	13.9		2.75%
Total/Weighted average			179.1	12.3		3.00%

Note: 1. Funds 25% ownership interest

120 / Industrial / Charter Hall Direct Industrial Fund No.2

Grace Worldwide Logistics Facility 6 Hepher Road, Campbelltown NSW

==> picture [236 x 180] intentionally omitted <==

This new purpose built facility is 42km south west of Sydney CBD and was completed in June 2014. The facility includes office and car parking and includes 23,000sqm for future developments.

The sole tenant, Grace Worldwide Group is Australasia’s largest records management, removals and storage company.

Summary

Summary
Year built (or refurbished)		2014
Ownership		100%
Total GLA (sqm)		17,765
Valuation (30 June 2014)
Valuation		$24.6 million
Value ($/sqm)		$1,385
Last external valuation date		1 September 2013
Valuer		Colliers
Tenancy statistics
WALE (by income)		12.0 years
Occupancy		100%
Major tenants		GLA (sqm)
Grace Worldwide		17,765

OneSteel Industrial Facility 10-38 Forrester Road, St Marys NSW

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This modern high quality warehouse with office and hardstand and on site secure parking is situated on a site of 6.2 hectares with approximately 4,000sqm surplus land. The facility is 45km south west of Sydney CBD and well connected to M4 Motorway.

Summary

Summary
Year built (or refurbished)		1999
Ownership		100%
Total GLA (sqm)		18,363
Valuation (30 June 2014)
Valuation		$21.9 million
Value ($/sqm)		$1,211
Last external valuation date		30 June 2014
Valuer		Knight Frank
Tenancy statistics
WALE (by income)		9.2 years
Occupancy		100%
Major tenants		GLA (sqm)
OneSteel		18,363

Charter Hall Property Portfolio / 30 June 2014 / 121

Australia Post Distribution Centre 15-21 Enterprise Drive, Rowville Vic

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This brand new, high-quality prime-grade industrial facility is located in Rowville, some 25 kilometres south-east of the Melbourne CBD. The property is fully occupied by Australia Post’s stamp manufacturing and distribution business, Sprintpak.

Summary
Year built (or refurbished)		2013
Ownership		100%
Total GLA (sqm)		6,477
Valuation (30 June 2013)
Valuation		$10.1 million
Value ($/sqm)		$1,554
Last external valuation date		30 June 2014
Valuer		Savills
Tenancy statistics
WALE (by income)		13.9 years
Occupancy		100%
Major tenants		GLA (sqm)
Australia Post		6,477

Toll NQX Logistics Facility 245 Somerset Rd, Gracemere, Qld

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This industrial facility is located to serve central Queensland’s growing population, mining & agricultural operations. Completed in July 2014, this purpose built logistics facility includes office accomodation and a large hardstand storage area. The tenant, Toll is the leading provider of road transport solutions, moving more than 2.8 million tonnes of freight per year.

Summary

Summary
Year built (or refurbished)		2014
Ownership		100%
Total GLA (sqm)		6,994
Valuation (30 June 2013)
Valuation		$12.9 million
Value ($/sqm)		$1,884
Last external valuation date		30 June 2014
Valuer		Knight Frank
Tenancy statistics
WALE (by income)		12.0 years
Occupancy		100%
Major tenants		GLA (sqm)
Toll Transport Pty Ltd		6,994

122 / Industrial / Charter Hall Direct Industrial Fund No.2

Coles Distribution Centre 2 Sturton Road, Adelaide SA

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The Coles Distribution Centre in South Australia comprises a modern distribution centre of 67,944 sqm which was purpose built for Coles in 2007. The property is fully leased to Coles until February 2027 with a further five by five-year option periods. The property is located within Edinburgh Parks Industrial Estate, an established industrial area with excellent surrounding transport access routes and high profile tenants.

Summary

Summary
Year built (or refurbished)		2007
Ownership		24%
Total GLA (sqm)		67,944
Valuation (30 June 2014)
Valuation (24%)		$36.7 million1
Value ($/sqm)		$2,252
Last external valuation date		4 March 2014
Valuer		Jones Lang LaSalle
Tenancy statistics
WALE (by income)		12.7 years
Occupancy		100%
Major tenants		GLA (sqm)
Coles Myer Ltd		67,944

OneSteel Industrial Facility 1 Howson Way, Bibra Lake WA

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This industrial facility includes office and hardstand storage areas and is situated on a site of 4.19 hectares. Just 18km south of Perth CBD, in an established precinct, the facility is leased to OneSteel (Arrium Limited) an ASX-listed manufacturer, distributor and recycler of metals and steel products with over 200 sites in Australia.

	Summary
	Year built (or refurbished)		1987
	Ownership		100%
	Total GLA (sqm)		15,698
	Valuation (30 June 2014)
	Valuation (25%)		$24.0 million
	Value ($/sqm)		$1,529
	Last external valuation date		30 June 2014
	Valuer		Jones Lang LaSalle
	Tenancy statistics
	WALE (by income)		11.3 years
	Occupancy		100%
	Major tenants		GLA (sqm)
	OneSteel		15,698

Note: 1. 100% property value is $153 million

Charter Hall Property Portfolio / 30 June 2014 / 123

Coles Distribution Centre Perth Airport, WA

==> picture [237 x 180] 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.

Summary

Summary
Year built (or refurbished)		2008
Ownership		25%
Total GLA (sqm)		81,647
Valuation (30 June 2014)
Valuation (25%)		$49.0 million1
Value ($/sqm)		$2,401
Last external valuation date		30 June 2014
Valuer		Savills
Tenancy statistics
WALE (by income)		13.9 years
Occupancy		100%
Major tenants		GLA (sqm)
Coles Group Ltd		81,647

Note: 1. 100% property value is $196 million

Coles Distribution Centre, Perth Airport WA

124 / Industrial / Core Logistics Partnership

Core Logistics Partnership (CLP)

CLP was established in December 2012 with the investment strategy of acquiring a portfolio of institutional quality industrial logistics property assets in Australia and New Zealand. The Wholesale Partnership’s mandate is to secure modern properties with minimal capex requirements and a minimum portfolio WALE of 8 years.

Top 6 Tenants

By gross income

							15%	15%		Peters Ice-cream
							14%			Metcash
						10%				Amcor Packaging
						10%				AWH Pty Ltd
					7%					Woolworths
6%										Manheim Pty Ltd
Annual lease expiry By gross income
	2%									Vacant
	2%									FY15
	6%									FY16
	2%									FY17
0%										FY18
5%										FY19
	2%									FY20
	9%									FY21
									72%	FY22+

Core Logistics Partnership (CLP)

==> picture [237 x 180] intentionally omitted <==

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

Woolworths RDC, Launceston Tas
----- End of picture text -----

Summary
Number of properties				13
Number of tenancies				20
Total GLA (sqm)1				507,900
Valuation (30 June 2014)
Valuation2				$608.3 million
Value ($/sqm)				$1,293
Capitalisation rate				7.70%
Tenancy statistics
WALE (by income)				10.9 years
Occupancy				98.2%
Property Ownership (%)				Classifcation
Ancon, Mt Druitt NSW		100%		Industrial
Australia Post, Chullora NSW		100%		Industrial
Smithfeld Logistics Centre, NSW		100%		Industrial
Amcor, Scoresby Vic		100%		Industrial
AWH, Tottenham Vic		100%		Industrial
Fastline, Truganina Vic		100%		Industrial
Peter’s Ice-cream, Mulgrave Vic		100%		Industrial
Somerton Logistic’s Centre Vic		100%		Industrial
Woolworths, Laverton Vic		100%		Industrial
Blackwoods, Mackay Qld		100%		Industrial
Darra, Qld (Landbank)		100%		Industrial
Metcash RDC, Canning Vale WA		50%		Industrial
Woolworths RDC, Launceston Tas		50%		Industrial

Note:

1. Excludes Darra (Landbank) 2. Based on latest independent completion valuation

Somerton Logistic’s Centre Vic

126 / Industrial / Charter Hall Direct CDC Trust

Charter Hall Direct CDC Trust

The Charter Hall Direct CDC Trust provides an investment in a prime industrial asset, the Coles Distribution Centre located in Adelaide.

~~15%~~ Annual lease expiry By gross income
14% 0%	Vacant
10% 0%	FY15
10% 0%	FY16
7% 0%	FY17
6% 0%	FY18
0%	FY19
0%	FY20
0%	FY21
100%	FY22+

==> picture [527 x 842] intentionally omitted <==

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

Charter Hall Property Portfolio / 30 June 2014 / 127
Coles Distribution Centre
2 Sturton Road, Adelaide SA
The Coles Distribution Centre in South Australia comprises
a modern distribution centre of 67,944 sqm which was
purpose built for Coles in 2007. The property is fully leased
to Coles until February 2027 with a further five by five-year
option periods. The property is located within Edinburgh
Parks Industrial Estate, an established industrial area with
excellent surrounding transport access routes and high
profile tenants.
Summary
Year built (or refurbished) 2007
Ownership 52%
Total GLA (sqm) 67,944
Valuation (30 June 2014)
Valuation (52%) $79.5 million [1]
Value ($/sqm) $2,252
Last external valuation date 4 March 2014
Valuer Jones Lang LaSalle
Tenancy statistics
WALE (by income) 12.7 years
Occupancy 100%
Major tenants GLA (sqm)
Coles 67,944
Note:
1. 100% property value is $153 million Coles Distribution Centre, Adelaide SA
----- End of picture text -----

WorkZone 202 Pier Street, Perth WA

Charter Hall Property Portfolio / 30 June 2014 / 129

Anzac Square 200 Adelaide Street, Brisbane Qld

Charter Hall Property Portfolio / 30 June 2014 / 131

PFA Diversified Property Trust

PFA Diversified Property Trust (PFA), is an unlisted property fund diversified across geographic location, property sector, tenant profile and lease expiry within Australia. The Trust was established in 2001 and currently invests in an office, industrial and retail property portfolio.

Top 5 tenants

By gross income

			50%	Australian Government (federal & state agencies)
	8%			PBL
	7%			Foxtel Management
	7%			AP Facilities
	2%			Woolworths and Woolworths liquor

Annual lease expiry

By gross income

			8%				Vacant
				15%			FY15
					35%		FY16
					33%		FY17
3%							FY18
4%							FY19
0%							FY20
2%							FY21
0%							FY22+

Geographical diversification

By current value

8% 8% 9% 17% 10%	48%
		New South Wales 48%
		Western Australia 17%
		Tasmania 10%
		ACT 9%
		Victoria 8%
		Queensland 8%

132 / Diversified / PFA Diversified Property Trust

Property Portfolio

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June 2014 Capitalisation Rate 9.37% June 2014 Discount Rate 9.64%”

		PFA	PFA	Jun 2014	WALE (years)	WALE (years)	Weighted Avg
		Ownership %		valuation A$M			rent reviews (%)
657 Pacifc Highway, St Leonards, NSW		100%		14.8	1.9		3.98%
706 Mowbray Road, Lane Cove, NSW		100%		23.0	3.3		3.39%
Civic Tower, 66-68 Goulburn Street Sydney, NSW		50%		65.0	2.4		3.99%
Riverdale Centre 49-65 Macquarie Street, Dubbo NSW		100%		12.4	4.5		3.13%
The Octagon Parramatta, NSW		50%		37.5	3.6		3.53%
Foxtel Building, 1-21 Dean Street Moonee Ponds, Vic		100%		26.0	2.8		3.00%
Anzac Square, 200 Adelaide Street Brisbane, Qld		100%		25.0	2.0		4.31%
Sevenoaks, 303 Sevenoaks Street Cannington, WA		100%		52.5	3.3		4.00%
Homeworld Centre, 150-180 Soward Way, Tuggeranong ACT		100%		31.0	4.0		3.74%
Lands Building, 134 Macquarie Street, Hobart Tas		100%		32.5	3.8		n/a
Total/Weighted average				319.7	3.2		3.31%

Charter Hall Property Portfolio / 30 June 2014 / 133

657 Pacific Highway, St Leonards NSW

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This modern B Grade office building comprises ground floor retail and eight upper level office accommodation plus basement level parking for 47 vehicles.

Summary

Summary
Year built (or refurbished)	1970
Grade	B
Ownership	100%
Total NLA (sqm)	3,668
Typical foor plate (sqm)	454
Car spaces	47
Valuation (30 June 2014)
Valuation	$14.8 million
Value ($/sqm)	$4,025
Last external valuation date	31 December 2013
Valuer	Knight Frank
Tenancy statistics
WALE (by income)	1.9 years
Occupancy	76.3%
Major tenants	NLA (sqm)
SKM	1,144
Umow lai Pty Ltd	530
Upskilled	455

706 Mowbray Road, Lane Cove NSW

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The property incorporates a multilevel, hi-tech industrial complex comprising two three-level office buildings, two warehouse levels and four levels of basement parking and is located less than 10 kilometres from the Sydney CBD.

Summary

Summary
Year built (or refurbished)		1987
Grade		n/a
Ownership		100%
Total NLA (sqm)		17,204
Typical foor plate (sqm)		750
Car spaces		324
Valuation (30 June 2014)
Valuation		$23.0 million
Value ($/sqm)		$1,337
Last external valuation date		31 December 2013
Valuer		CBRE
Tenancy statistics
WALE (by income)		3.3 years
Occupancy		89.3%
Major tenants		NLA (sqm)
AP Facilities		11,587
Vintage & Vine		1,541

134 / Diversified / PFA Diversified Property Trust

Civic Tower 66-68 Goulburn Street, Sydney NSW

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Civic Tower is a 24-floor building comprising a ground floor foyer and separate retail area. Located on a prominent corner in the Sydney mid-town with frontage on to both Castlereagh and Goulburn Streets its major tenants include Publishing and Broadcasting Limited (PBL) and the Commonwealth Department of Public Prosecutions.

Summary

Summary
Year built (or refurbished)		2004
Grade		A
Ownership		50%
Total NLA (sqm)		23,154
Typical foor plate (sqm)		975
Car spaces		54
Valuation (30 June 2014)
Valuation (50%)		$65.0 million
Value ($/sqm)		$5,614
Last external valuation date		30 June 2014
Valuer		CBRE
Tenancy statistics
WALE (by income)		2.4 years
Occupancy		75.2%
Major tenants		NLA (sqm)
PBL		10,432

Riverdale Centre

49-65 Macquarie Street, Dubbo NSW

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The Riverdale Centre is a quality community shopping and entertainment complex located in the heart of the strategically located inland NSW city of Dubbo. The Centre includes a Woolworths supermarket, specialty shops, and the only cinema complex in Dubbo.

Summary

Summary
Year built (or refurbished)		1999
Grade		Neighbourhood
Ownership		100%
Total NLA (sqm)		6,157
Typical foor plate (sqm)		n/a
Car spaces		299
Valuation (30 June 2014)
Valuation		$12.4 million
Value ($/sqm)		$2,014
Last external valuation date		30 June 2014
Valuer		Jones Lang LaSalle
Tenancy statistics
WALE (by income)		4.5 years
Occupancy		94.1%
Major tenants		NLA (sqm)
Woolworths1		2,902
Reading Entertainment		2,058

Note: 1. Includes Woolworths liquor

Charter Hall Property Portfolio / 30 June 2014 / 135

The Octagon Parramatta NSW

Foxtel Building

1-21 Dean Street, Moonee Ponds Vic

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This modern, seven-storey commercial building comprises ground floor lobby, retail and quality office space spread across eight octagonal pods. Located within the heart of the established Parramatta CBD financial district, The Octagon has dual street frontage onto Phillip and George Streets.

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Purpose-built by Foxtel for its own occupation, and features virtually uninterrupted natural light and a central, fourlevel high atrium with a translucent ceiling and suspended stairways. Adjoining the building is a two level car parking deck providing parking for 181 cars in addition to the 69 on grade car spaces.

Summary

Summary

Year built (or refurbished) 1990 Grade A Ownership 50% Total NLA (sqm) 20,952 Typical foor plate (sqm) 330-550 Car spaces 333 Valuation (30 June 2014) Valuation (50%) $37.5 million Value ($/sqm) $3,580 Last external valuation date 31 December 2013 Valuer Jones Lang LaSalle Tenancy statistics WALE (by income) 3.6 years Occupancy 97.7% Major tenants NLA (sqm) Government Property NSW 17,920	Year built (or refurbished) 2004
	Grade B
	Ownership 100%
	Total NLA (sqm) 7,104
	Typical foor plate (sqm) 1,730
	Car spaces 250
	Valuation (30 June 2014)
	Valuation $26.0 million
	Value ($/sqm) $3,660
	Last external valuation date 31 December 2013
	Valuer CBRE
	Tenancy statistics
	WALE (by income) 2.8 years
	Occupancy 100%
	Major tenants NLA (sqm)
	Foxtel 7,104

136 / Diversified / PFA Diversified Property Trust

Anzac Square 200 Adelaide Street, Brisbane Qld

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Anzac Square offices is the commercial component of the award-winning Anzac Square heritage complex in the heart of the Brisbane CBD. The property is located close to public transport and Queen Street Mall and offers excellent tenant amenity.

Summary

Summary
Year built (or refurbished)		1999
Grade		B
Ownership		100%
Total NLA (sqm)		5,991
Typical foor plate (sqm)		1,010
Car spaces		28
Valuation (30 June 2014)
Valuation		$25.0 million
Value ($/sqm)		$4,173
Last external valuation date		30 June 2014
Valuer		Colliers
Tenancy statistics
WALE (by income)		2.0 years
Occupancy		86.8%
Major tenants		NLA (sqm)
State of Queensland (Health)		3,538
On the House		1,275

Sevenoaks

303 Sevenoaks Street, Cannington WA

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This modern four-level office building is situated in the Perth suburb of Cannington, approximately 12km from the Perth CBD. The property offers large floorplates which are highly attractive to government and large corporate tenants for spatial efficiencies, and two internal atriums within the building that enhance natural lighting.

Summary

Summary
Year built (or refurbished)		1992
Grade		B
Ownership		100%
Total NLA (sqm)		20,817
Typical foor plate (sqm)		5,500
Car spaces		100
Valuation (30 June 2014)
Valuation		$52.5 million
Value ($/sqm)		$2,522
Last external valuation date		31 December 2013
Valuer		CBRE
Tenancy statistics
WALE (by income)		3.3 years
Occupancy		100%
Major tenants		NLA (sqm)
Western Australian Government		20,817

Charter Hall Property Portfolio / 30 June 2014 / 137

Homeworld Centre

150-180 Soward Way, Tuggeranong ACT

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Homeworld Centre is a mixed-use property comprising a unique mix of convenience-style retail with a first floor office use. Located at Tuggeranong, approximately 22 kilometres south-west of the centre of Canberra, Homeworld is anchored by Aldi and Dan Murphy’s.

Summary

Summary
Year built (or refurbished)		1987
Grade		Sub-Regional
Ownership		100%
Total NLA (sqm)		12,200
Typical foor plate (sqm)		n/a
Car spaces		333
Valuation (30 June 2014)
Valuation		$31.0 million
Value ($/sqm)		$2,541
Last external valuation date		31 December 2013
Valuer		Savills
Tenancy statistics
WALE (by income)		4.0 years
Occupancy		89.9%
Major tenants		NLA (sqm)
Commonwealth of Australia		3,739
Aldi Foods		1,360

Lands Building

134 Macquarie Street, Hobart Tas

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The Lands Building is a 10 level office complex plus a basement with 16 car parks and archival quality storage spaces, and located in the prime southern precinct of Hobart’s CBD. The property underwent a major refurbishment in 1998 to maintain its A grade status.

Summary

Summary
Year built (or refurbished)		1975 (1998)
Grade		A
Ownership		100%
Total NLA (sqm)		11,675
Typical foor plate (sqm)		1,182
Car spaces		17
Valuation (30 June 2014)
Valuation (50%)		$32.5 million
Value ($/sqm)		$2,785
Last external valuation date		31 December 2013
Valuer		Jones Lang LaSalle
Tenancy statistics
WALE (by income)		3.8 years
Occupancy		100%
Major tenants		NLA (sqm)
State Government of Tasmania		11,675

WorkZone 202 Pier Street, Perth WA

Charter Hall Property Portfolio / 30 June 2014 / 139

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, including commercial, industrial, household retail and infill residential sectors located primarily in capital cities and metropolitan markets across Australia and New Zealand.

WorkZone (East) 202 Pier Street, Perth WA

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WorkZone is a innovative inner city office campus located in Perth’s rapidly developing CBD fringe. Awarded a 5 star Green Star Office Design – v3 rating, this sustainable office campus comprises 27,911 square metres of A-grade office space over two buildings, linked by a spacious landscaped plaza.

It is conveniently located adjacent to McIver train station and is within walking distance to Hay Street Mall and the bustling Northbridge precinct, which offers a variety of restaurants, bars and entertainment. The building features large, open and efficient floorplates of 1,950sqm with excellent natural light and extensive facilities.

Summary

Status Leasing campaign for WorkZone East underway

Ownership	100%
Total NLA (sqm)	12,350
Typical foor plate (sqm)	1,950
Car spaces	83

140 / Diversified / Charter Hall Diversified Property Fund

Charter Hall Diversified Property Fund

Charter Hall Diversified Property Fund (DPF) launched in November 2005, as an unlisted retail investor fund investing in quality assets across office, retail and industrial sectors throughout Australia.

Top 3 tenants

By gross income

		42%	DSV Air and Sea
30%			Jets Transport Express
28%			Gibson Freight Australia
Annual lease expiry By Gross Income
0%			Vacant
28%			FY15
0%			FY16
0%			FY17
30%			FY18
0%			FY19
0%			FY20
0%			FY21
		42%	FY22+

Charter Hall Property Portfolio / 30 June 2014 / 141

95 South Centre Road and 1 and 15 Jets Court, Tullamarine Vic

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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.

Summary

Summary
Year built (or refurbished)	2003/2004
Grade	Industrial
Ownership	100%
Total NLA (sqm)	10,462
Typical foor plate (sqm)	n/a
Car spaces	134
Valuation (30 June 2013)
Valuation	$8.2 million
Value ($/sqm)	$785
Last external valuation date	31 December 2012
Valuer	m3 Property
Tenancy statistics
WALE (by income)	5.5 years
Occupancy	100%
Major tenants	NLA (sqm)
DSV Air and Seas	5,042
Gibsons Freight Australia	3,004
Jets Transport Express	2,416

142 / Index

Index

Office

Offce
Charter Hall Offce Trust (CHOT)
New South Wales
CitiCentre, 2 Park Street, Sydney		15
No.1 Martin Place, Sydney		15
Allianz Centre, 2 Market Street, Sydney		16
59 Goulburn Street, Sydney The Denison, 65 Berry Street, North Sydney		16 17
Charter Grove, 29-57 Christie Street, St Leonards		17
Avaya House, 123 Epping Road, Macquarie Park		18
Wentworth Place, 9 Wentworth Street, Parramatta		18
ATO, 266 King Street, Newcastle		19
Victoria
Argus Centre, 300 LaTrobe Street, Melbourne		19
150 Lonsdale Street, Melbourne 171 Collins Street, Melbourne 5 Queens Road, Melbourne ATO, 6-20 Gladstone Street, Moonee Ponds		20 20 21 21
Queensland
175 Eagle Street, Brisbane Capital Hill, 83-85 George Street, Brisbane		22 22
Western Australia
Eastpoint Plaza, 233-237 Adelaide Terrace, Perth		23
ACT
Australia Place, 14 Mort Street, Canberra		23
Core Plus Offce Fund (CPOF)
New South Wales
331 and 333 George Street, Sydney 9 Castlereagh Street, Sydney 167 Macquarie Street, Sydney		30 30 31
St George Bank, 4-16 Montgomery Street, Kogarah		31
Victoria
11-33 Exhibition Street, Melbourne		32
570 Bourke Street, Melbourne		32
Queensland
Brisbane Square, Brisbane 275 George Street, Brisbane		33 33
Northbank Plaza, 69 Ann Street, Brisbane		34
100 Skyring Terrace, Brisbane		34
South Australia
ATO 16-26 Franklin Street, Adelaide		35
51 Pirie Street, Adelaide		35
Bank SA, 97 William Street, Adelaide		36
Western Australia
BHP House, 225 St Georges Terrace, Perth		36
Bankwest Place and Raine Square, Perth		37
109 St Georges Terrace, Perth		37

Office Office mandates

Offce Offce mandates
Queensland
Brisbane Square, Brisbane		38
275 George Street, Brisbane		38
100 Skyring Terrace, Brisbane		39
South Australia
ATO 16-26 Franklin Street, Adelaide		39
Western Australia
Bankwest Place and Raine Square, Perth		39
Charter Hall Direct Property Fund (CHDPF)
New South Wales
68 Pitt Street, Sydney		46
165 Walker Street, North Sydney		46
504 Pacifc Highway, St Leonards		47
2 Wentworth Street, Parramatta		47
Victoria
200 Queen Street, Melbourne		48
1 Nicholson Street, Melbourne		48
Queensland
300 Adelaide Street, Brisbane		49
Western Australia
181 St Georges Terrace, Perth		49
144 Stirling Street Trust (CHIF8)
Western Australia
Hatch Building 144 Stirling Street, Perth		51
Charter Hall Direct WorkZone Trust
Western Australia
WorkZone 202 Pier Street, Perth WA		53
Charter Hall Direct VA Trust (CHIF10)
Queensland
56 Edmondstone Road, Bowen Hills		55
685 LaTrobe
Victoria
685 La Trobe Street, Melbourne Vic		57

Charter Hall Property Portfolio / 30 June 2014 / 143

Retail

Retail
Charter Hall Retail REIT (CQR)
New South Wales
Bathurst Chase, Bathurst	63
Cooma Woolworths, Cooma	63
Cootamundra Woolworths, Cootamundra	63
Dubbo Square, Dubbo Earlwood Coles, Earlwood	63 63
Pemulwuy Marketplace, Greystanes	63
Mackenzie Mall, Glen Innes	63
Goonellabah Village, Goonellabah	63
Gordon Village Centre, Gordon	63
Carnes Hill Marketplace, Horningsea Park	63
Jerrabomberra Village, Jerrabomberra	63
Kings Langley Shopping Centre, Kings Langley	63
Highlands Marketplace, Mittagong	63
Balo Square, Moree	63
Morisset Shopping Centre, Morisset	63
Lake Macquarie Fair, Mt Hutton	63
Mount Hutton Plaza, Mt Hutton	63
Mudgee Metroplaza, Mudgee Sunnyside Mall, Murwillumbah	63 63
Narrabri Coles, Narrabri	63
Kierath’s Shopping Square, Narromine	63
Orange Central, Orange	63
Parkes Metroplaza, Parkes Rosehill Woolworths, Parramatta	63 63
Rutherford Marketplace, Rutherford	63
Singleton Square and Plaza, Singleton	63
Tamworth Marketplace, Tawworth	63
Thornleigh Marketplace, Thornleigh Tumut Coles, Tumut	63 63
Wellington Coles, Wellington	63
West Ryde Marketplace, West Ryde Windsor Marketplace, Windsor Young Woolworths, Young Victoria	63 63 63
Coles, Bairnsdale	64
Lansell Square, Kangaroo Flat (Bendigo)	64
Pakington Strand, Geelong West	64
Safeway, Kerang	64
Kyneton Shopping Centre, Kyneton	64
Olive Tree Shopping Centre, Lilydale	64
Coles, Moe	64
Kmart, Moe	64
Rosebud Plaza	64
Queensland
Albany Creek Shopping Centre, Albany Creeky	64
Tablelands Village, Atherton Bribie Island Shopping Centre, Bribie Island Caboolture Square, Caboolture	64 64 64
Currimundi Markets, Currimundi Gatton Plaza, Gatton	64 64
Gladstone Square, Gladstone	64
Bay Plaza, Hervey Bay	64
Kallangur Fair, Kallangur	64
Sydney Street Markets, Mackay	64
Mareeba Plaza, Mareeba	64
Moranbah Fair, Moranbah	64
Allenstown Square, Rockhampton	64
Springfeld Fair, Springfeld	64

Retail

Charter Hall Retail REIT (CQR)
South Australia
Southgate Plaza, Morphett Vale		65
Wharfands Plaza, Port Augusta		65
Renmark Plaza, Renmark		65
Western Australia
Albany Plaza, Albany		65
Ballajura Central, Ballajura		65
Carnarvon Central, Carnarvon		65
Collie Central, Collie		65
Esperance Boulevard, Esperance		65
Kalgoorlie Central, Kalgoorlie		65
Coles, Maylands		65
Coles, Narrogin		65
Secret Harbour Shopping Centre, Secret Harbour		65
South Hedland Shopping Centre, South Hedland		65
Swan View Shopping Centre, Swan View		65
Wanneroo Central, Wanneroo		65
ACT
Woolworths, Dickson		66
Manuka Terrace, Manuka		66
Erindale Shopping Centre, Wanniassa		66
Tasmania
Coles, Newstead		66
Woolworths, Smithton		66
Woolworths, Wynyard		66
Retail Partnership No.1 (RP1)
New South Wales
Carnes Hill Marketplace, Horningsea Park		69
Highlands Marketplace, Mittagong		69
Pemulwuy Marketplace, Greystanes		69
Rutherford Marketplace, Rutherford		69
Thornleigh Marketplace, Thornleigh		69
West Ryde Marketplace, West Ryde		69
Windsor Marketplace, Windsor		69
Victoria
Pakington Strand, Geelong West		69
Queensland
Gladstone Square, Gladstone		69
Western Australia
Wanneroo Central, Wanneroo		69
Retail Partnership No.2 (RP2)
New South Wales
Bateau Bay Square, Bateau Bay		71

144 / Index

Index

Retail

Industrial

Retail	Industrial
BP Fund New South Wales Bunnings, Armidale Bunnings, Castle Hill Bunnings, Chatswood Bunnings, Kirrawee Bunnings, Narellan Bunnings, Rouse Hill Bunnings, Taree 73 73 73 73 73 73 73 Victoria Bunnings, Rosebud 73 Queensland Bunnings, Stafford Wiley Stafford 73 73 BP Fund No.2 Queensland Bunnings, Burleigh Heads Bunnings, Gympie Bunnings, Mackey North Bunnings, Mackey South 75 75 75 75 Western Australia Bunnings, Armadale 75 Charter Hall Direct BW Trust New South Wales Bunnings, Armidale Bunnings, Rouse Hill Bunnings, Taree 80 80 81 Victoria Bunnings, Rosebud 81 Keperra Square (TTP) Great Western Super Centre 83	Core Plus Industrial Fund (CPIF)
	New South Wales
	24 Muir Road, Chullora 372 Eastern Valley Way, Chatswood 56 Anzac Street, Chullora 11 Huntingwood Drive, Huntingwood 15 Huntingwood Drive, Huntingwood 5 Devon Street, Rosehill 42 Airds Road, Minto 15A Long Street, Smithfeld 15B Long Street, Smithfeld 92 92 93 93 94 94 95 95 96
	Victoria
	41-57 South Centre Road, Melbourne Airport 130-138 Link Road, Melbourne Airport 55-65 Sky Road, Melbourne Airport 309 Fitzgerald Road, Derrimut 96 97 97 98
	Queensland
	30 Main Beach Road, Pinkenba 140-160 Robinson Road, Geebung 7 Viola Place, Brisbane Airport 17 Sugarmill Road, Meeandah 80-120 Canberra Street, Hemmant 237 Gooderham Road, Willawong 379 Sherbrooke Road, Willawong 180 Holt Street, Pinkenba 200 Holt Street, Pinkenba Lot 2 Sherbrooke Road, Willawong 29 Forrest Way, Berrinba 98 99 99 100 100 101 101 102 102 103 103
	South Australia
	Lot 2, Grand Trunkway, Gillman 104
	Western Australia
	123-135 Kewdale Road, Kewdale 218 Bannister Road, Canning Vale 2 Bannister Road, Canning Vale 103 Welshpool Road, Welshpool Coles Distribution Centre, Perth Airport 105 105 106 106 107
	Tasmania
	4-20 Translink Avenue, Launceston 107
	Direct Industrial Fund (DIF1)
	New South Wales
	Australia Post Distribution Centre, Kingsgrove 112
	Victoria
	Toll Fleet & Auto Logistics Centre, Altona Woolworths Distribution Centre, Hoppers Crossing 112 113
	Queensland
	Coates Hire Distribution Centre, Kingston Grace Worldwide Logistics Facility, Willawong 113 114
	South Australia
	Electrolux Distribution Centre, Beverley 114
	Western Australia
	Coles Distribution Centre, Perth 115

Charter Hall Property Portfolio / 30 June 2014 / 145

Industrial

Industrial
Direct Industrial Fund No.2 (DIF2)
New South Wales
Grace Worldwide Logistics Facility, Campbelltown		120
OneSteel Industrial Facility, St Marys Victoria		120
Australia Post Distribution Centre, Rowville		121
Queensland
Toll NQX Logistics, Gracemere		121
South Australia
Coles Distribution Centre, Adelaide		122
Western Australia
OneSteel Industrial Facility		122
Coles Distribution Centre, Perth		123
Core Logistics Partnership (CLP)
New South Wales
Ancon, Mt Druitt Australia Post, Chullora		125 125
Smithfeld Logistics Centre, Smithfeld		125
Victoria
Amcor, Scoresby		125
AWH, Tottenham Fastline, Truganina		125 125
Peter’s Ice-cream, Mulgrave		125
Somerton Logistic’s Centre, Somerton		125
Queensland
Blackwoods, Mackey		125
Darra		125
Western Australia
Metcash RDC, Canning Vale		125
Tasmania
Woolworths RDC, Launceston		125
Charter Hall Direct CDC Trust
South Australia
Coles Distribution Centre, Adelaide		127

Diversified

Diversifed
PFA Diversifed Trust (PFA)
New South Wales
657 Pacifc Highway, St Leonards		133
706 Mowbray Road, Lane Cove		133
Civic Tower, 66-68 Goulburn Street, Sydney		134
Riverdale Centre 49-65 Macquarie Street, Dubbo		134
The Octagon, Parramatta		135
Victoria
Foxtel Building, Moonee Ponds		135
Queensland
Anzac Square, 200 Adelaide Street Brisbane		136
Western Australia
Sevenoaks, 303 Sevenoaks Street Cannington		136
ACT
Homeworld Centre, Tuggeranong		137
Tasmania
Lands Building, 134 Macquarie Street, Hobart		137
Charter Hall Opportunity Fund No.5 (CHOF5)
Western Australia
WorkZone, Perth		139
Diversifed Property Fund (DPF)
Victoria
95 South Centre Rd & 1 and 15 Jets Court, Tullamarine		141

Charter Hall head office No.1 Martin Place Sydney, NSW

Charter Hall Property Portfolio / 30 June 2014 / 147

Further information

Listed enquiries

Kylie Ramsden Head of Listed Investor Relations +61 2 8651 9204 kylie.ramsden@charterhall.com.au

Unlisted enquiries

Nick Kelly Head of Investor Relations +61 2 8651 9235 nick.kelly@charterhall.com.au

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.

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 relevant 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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