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CROMWELL PROPERTY GROUP Fund Information / Factsheet 2013

Aug 25, 2013

64673_rns_2013-08-25_b1453fea-b6fe-47c1-bdf8-47c66978b781.pdf

Fund Information / Factsheet

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PROPERTY PORTFOLIO JUNE 2013

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WELL LOCATED
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Cromwell Property Group comprises Cromwell Corporation Limited ABN 44 001 056 980 Cromwell Diversified Property Trust ARSN 102 982 598 the responsible entity of which is Cromwell Property Securities Limited ABN 11 079 147 809, AFSL 238052

Cromwell Property Group is an Australian Real Estate Investment Trust (A-REIT) and Fund Manager with $3.3 billion in assets under management.

ABOUT US

KEY FEATURES

  • Security price of $0.98 at 28 June 2013

Listed on the Australian Securities Exchange (ASX: CMW), Cromwell Property Group has $3.3 billion in assets under management and manages commercial properties throughout Australia.

  • Australian focus. No exposure to offshore markets

  • Defensive portfolio with strong cash flow and long weighted average lease expiry

Cromwell delivered operating earnings of over $100 million in the 2013 financial year (FY13) from the Group’s property portfolio and funds management business.

  • Experienced and stable executive team

  • Award winning funds management business

Cromwell is well placed to continue to deliver the strong property income returns historically achieved, whilst being able to take advantage of current market conditions to continue to buy quality property at attractive prices.

  • In-house property management

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2 Cromwell Property Group | Portfolio June 2013

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INTEGRATED PROPERTY MANAGEMENT MODEL

KEY FINANCIAL STATISTICS[*]

Cromwell’s philosophy is to actively manage all property assets in-house.

This internalised property management model is one of the Group’s key competitive advantages. The property team oversees the strategic management of the assets, ensuring that tenants are happy, space is leased, buildings are operating efficiently and projects are delivered on time and on budget.

JuNe 2013
TOTAL ASSeTS $2.5 billion
NeT ASSeTS $1.2 billion
NeT TANGIBLe ASSeTS $1.2 billion
SeCuRITIeS ON ISSue 1.7 billion
NTA PeR SeCuRITY $0.70
GeARING 46%
  • excludes assets in managed funds.

By keeping these functions in-house, Cromwell ensures that assets are managed in accordance with the interests of investors and to the expectations of tenants.

Cromwell’s experience and approach to commercial asset management puts Cromwell at the forefront of the industry and the internalised model creates a seamless link between investors, the assets and their tenants.

Cromwell’s approach is to constantly improve tenant satisfaction, property income returns and capital value.

Cromwell Property Group | Portfolio June 2013 3

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PORTFOLIO OvERvIEW

ENvIRONMENTAL SUSTAINABILITY

PORTFOLIO NABERS RATING[*]

As a long term property owner, environmental sustainability is an important pillar of Cromwell’s business.

Cromwell has applied the National Australian Built Environment Rating System (NABERS) to measure the operational impacts of its properties[*] on the environment. By reducing our reliance on natural resources we can also achieve operating efficiencies for the benefit of all stakeholders.

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5
4.4 star
4.2 star
4.0 star
4 3.9 star 3.9 star
2.9 star
3
2
1
0
2008 2009 2010 2011 2012 2013
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  • NABeRS assessments are not undertaken for some assets where the tenant has full operational control and manages the total resource consumption.

4 Cromwell Property Group | Portfolio June 2013

Cromwell’s income is underpinned by a focus on quality income producing Australian assets with strong tenant covenants.

KEY PROPERTY STATISTICS[*]

JuNe 2013
TOTAL VALue $2.4 billion
NuMBeR OF PROPeRTIeS 33
OCCuPANCY 96%
WeIGHTeD AVeRAGe LeASe eXPIRY 6.1 years
WeIGHTeD AVeRAGe CAP RATe 8.5%
NeT LeTTABLe AReA 686,189 sqm
PeRCeNTAGe OF OFFICe PROPeRTY
(BY GROSS INCOMe) 93%

GEOGRAPHIC DIvERSIFICATION BY GROSS INCOME

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18.4% ACT 19.4% VIC
32.9% NSW 1.1% TAS
26.9% QLD 1.3% SA
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TENANT CLASSIFICATION BY GROSS INCOME

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45.7% Government Authority
37.2% Listed Company/Subsidiary
17.1% Private Company
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  • excludes assets in managed funds.

PORTFOLIO LEASE EXPIRY PROFILE % GROSS INCOME BY FINANCIAL YEAR

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50%
45% 42.8%
40%
35%
30%
24.8%
25%
20% 16.8%
15%
10% 7.3%
5% 3.9% 4.4%
0%
Vacant FY14 FY15 FY16 FY17 Thereafter
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SECTOR DIvERSIFICATION BY GROSS INCOME

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92.5% Commercial
3.2% Retail
4.3% Industrial
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Cromwell Property Group | Portfolio June 2013 5

PROPERTY LEADERShIP

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Paul Weightman

MANAGING DIRECTOR / CEO

Paul has been the key driver of Cromwell’s success since inception in 1998.

Paul has extensive experience in property development and investment, financial structuring, public listings, mergers and acquisitions, revenue matters and joint ventures.

Paul was Cromwell’s Executive Chairman from 1998-2008 and has acted as a director of companies in the property, energy and retail sectors.

He practised as a solicitor for more than 20 years and holds degrees in commerce and law.

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Daryl Wilson DIRECTOR – FINANCE & FUNDS MANAGEMENT

Daryl has led the

development of the Group’s funds management capabilities and has primary responsibility for the finance and funds management functions.

Daryl is a member of the Institute of Chartered Accountants of Australia and has many years experience in senior finance roles, including the last 14 years with Cromwell.

He holds a Bachelor of Commerce and a Diploma of Financial Planning.

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Phil Cowling DIRECTOR – PROjECT & TECHNICAL SOLUTIONS

Philip is a Chartered Engineer with over 25 years experience in building design, facilities and property management in Australia and the United Kingdom.

Philip’s primary

responsibilities include technical due diligence on acquisitions and the management of new development projects.

Philip is the Group’s registered NABERS assessor, a green star professional and holds membership of the Energy Institute, the Institution of Occupational Safety and Health and is Qld Chairman for the Chartered Institution of Building Services Engineers. Philip also serves on the Property Council of Australia’s sustainability and national building codes committees.

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Noel Woodward

PROPERTY PORTFOLIO MANAGER

Noel is responsible for providing strategic leadership and ensuring the optimal performance of Cromwell’s property portfolio.

Noel has had an extensive career in the property profession, working for a number of leading listed Australian companies in senior roles, covering property, asset, development management and investment across all major asset classes in all national markets.

Noel is qualified as a Certified Shopping Centre Manager of Australia (CSMA) and a former Chair of the Education Committee of the Australian Council of Shopping Centres.

6 Cromwell Property Group | Portfolio June 2013

Cromwell has amassed an exceptional team of property experts who work together to ensure that the Group’s property portfolio is managed to the highest standard for the benefit of investors and tenants alike.

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Bobby Binning

DIRECTOR - LEASING

Brad Collins PORTFOLIO FACILITIES MANAGER

Jodie Clark DIRECTOR – CROMWELL PROPERTY SERvICES

Bobby is responsible for Cromwell’s leasing activities including managing lease renewals with existing tenants, new leases and vacancies across its property portfolio.

Bobby has close to 15 years experience as a property professional with a number of firms in Australia and the United Kingdom.

He has a Bachelor of Business in Property Studies.

Brad leads a team of in-house facilities managers within the property services division of Cromwell.

Brad was previously State Facilities Manager with Savills and James Fielding Group (VIC), and has 15 years facilities management experience in the commercial, retail and industrial property sectors.

Brad has a Master of Facility Management, is a member of the Facility Management Association of Australia and The Chartered Institution of Building Services Engineers.

Jodie is the Company’s Corporate Real Estate Licensee across Australia and a director of Cromwell Property Services Pty Ltd.

Jodie has 20 years experience in the property industry in Queensland and New South Wales across the commercial, industrial and residential sectors, including a number of development projects.

During this time she has held transactions, property management, business development and sales management positions.

Cromwell Property Group | Portfolio June 2013 7

Qantas Global headquarters

MASCOT, NSW

This asset comprises four campus-style buildings strategically positioned near Sydney airport. Qantas has a lease to 2032, reinforcing its strategic commitment to the precinct. The property is currently undergoing a $131.5 million expansion and refurbishment.

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ADDReSS 203 Coward Street, Mascot, NSW

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|||
|---|---|
|SeCTOR|Commercial|
|LAND AReA|27,160 sqm|
|LeTTABLe AReA|46,546 sqm|
|ACquISITION DATe|August 2010|
|MAJOR TeNANT|qantas Airways Limited|
|eXTeRNAL VALuATION|$232.0 m (Dec 12)|
|BOOk VALue|$275.0 m|
|OCCuPANCY|100%|
|CAP RATe|7.00%|
|WALe|19.5 years|
|eNVIRONMeNTAL RATINGS|
|NABeRS eNeRGY|under Tenant Control|
|NABeRS WATeR|under Tenant Control|

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hQ North Tower

FORTITUDE vALLEY, QLD

HQ North is a 10-storey A-grade office tower located just two kilometres from the Brisbane CBD. The asset has been awarded a 6 star Green Star-v2 Office Design rating, the highest possible rating by the Green Building Council of Australia.

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ADDReSS

520-540 Wickham St, Fortitude Valley, qLD 4006

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|||
|---|---|
|SeCTOR|Commercial|
|LAND AReA|8,895 sqm|
|LeTTABLe AReA|29,364 sqm|
|ACquISITION DATe|December 2011|
|MAJOR TeNANTS|AeCOM Australia, Technology One|
|eXTeRNAL VALuATION|$200.0 m (Jun 13)|
|BOOk VALue|$200.0 m|
|OCCuPANCY|99.4%|
|CAP RATe|8.00%|
|WALe|5.2 years|
|eNVIRONMeNTAL RATINGS|
|NABeRS eNeRGY|5 Star|
|NABeRS WATeR|5 Star|

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8 Cromwell Property Group | Portfolio June 2013

321 Exhibition Street

MELBOURNE, vIC

700 Collins Street

MELBOURNE, vIC

This 20 level office tower occupies a prominent north-east corner of Melbourne’s CBD and is 100% leased to Origin Energy. A major refurbishment completed in 2011 meets PCA A Grade standards and was supported by the Green Building Fund.

700 Collins Street is the gateway to the Docklands Precinct at the western end of the Melbourne CBD. Tenants enjoy uninterrupted views and direct access to the city. The property comprises 12 levels of office accommodation, 3 levels of car parking and various retail areas.

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ADDReSS

321 exhibition Street, Melbourne VIC 3001

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ADDReSS

700 Collins Street, Melbourne VIC 3008

ADDReSS
321 exhibition Street, Melbourne VIC 3001		 ADDReSS
700 Collins Street, Melbourne VIC 3008
SeCTOR
Commercial
LAND AReA
2,914 sqm
LeTTABLe AReA
30,200 sqm
ACquISITION DATe
July 2010
MAJOR
TeNANT
Origin energy
eXTeRNAL VALuATION
$175.0 m (Dec 12)
BOOk VALue
$180.5 m
OCCuPANCY
100%
CAP RATe
7.50%
WALe
8.3 years
eNVIRONMeNTAL RATINGS
NABeRS eNeRGY
5.5 Stars
NABeRS WATeR
2.5 Stars		 SeCTOR
Commercial
LAND AReA
4,836 sqm
LeTTABLe AReA
33,850 sqm
ACquISITION DATe
December 2004
MAJOR
TeNANT
Bureau of Meteorology
eXTeRNAL VALuATION
$172.0 m (Dec 12)
BOOk VALue
$172.0 m
OCCuPANCY
100%
CAP RATe
7.50%
WALe
2.2 years
eNVIRONMeNTAL RATINGS
NABeRS eNeRGY
4 Stars
NABeRS WATeR
4.5 Stars

Cromwell Property Group | Portfolio June 2013 9

Tuggeranong Office Park

GREENWAY, ACT

The property comprises five buildings of up to four stories with enclosed walkways between. The basement includes both service areas and 291 car parks with a further 469 open car parks on-site. It is fully leased to the Commonwealth Government.

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ADDReSS Athllon Drive, Tuggeranong ACT 2900

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|||
|---|---|
|SeCTOR|Commercial|
|LAND AReA|80,780 sqm|
|LeTTABLe AReA|30,757 sqm|
|ACquISITION DATe|June 2008|
|MAJOR TeNANT|Government (FHCSIA)|
|eXTeRNAL VALuATION|$155.0 m (Jun 13)|
|BOOk VALue|$155.0 m|
|OCCuPANCY|100%|
|CAP RATe|9.00%|
|WALe|3.4 years|
|eNVIRONMeNTAL RATINGS|
|NABeRS eNeRGY|under Tenant Control|
|NABeRS WATeR|under Tenant Control|

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475 victoria Avenue

CHATSWOOD, NSW

The complex comprises two 13-level office buildings complete with ground floor retail and 3 levels of basement car parking. Office space in the complex comprises a net lettable area of 24,135 square metres while the retail space covers an area of approximately 835 square metres.

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ADDReSS

475-501 Victoria Avenue, Chatswood, NSW 2067

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|||
|---|---|
|SeCTOR|Commercial|
|LAND AReA|6,030 sqm|
|LeTTABLe AReA|24,970 sqm|
|ACquISITION DATe|March 2006|
|MAJOR TeNANT|Reed elsevier Australia|
|eXTeRNAL VALuATION|$135.0 m (Jun 13)|
|BOOk VALue|$135.0 m|
|OCCuPANCY|100%|
|CAP RATe|8.75%|
|WALe|3.8 years|
|eNVIRONMeNTAL RATINGS|
|NABeRS eNeRGY|4.5 Stars|
|NABeRS WATeR|2.5 Stars|

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10 Cromwell Property Group | Portfolio June 2013

207 Kent Street

SYDNEY, NSW

207 Kent Street is a 20-level A-grade property occupying a premium position overlooking Darling Harbour and adjacent to Sydney’s new office precinct at Barangaroo.

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ADDReSS 207 kent Street, Sydney NSW 2000

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|||
|---|---|
|SeCTOR|Commercial|
|LAND AReA|2,200 sqm|
|LeTTABLe AReA|21,382 sqm|
|ACquISITION DATe|June 2013|
|MAJOR TeNANTS|Symantec, Sydney Ports|
|eXTeRNAL VALuATION|$133.0 m (May13)|
|BOOk VALue|$133.0 m|
|OCCuPANCY|93.5%|
|CAP RATe|7.75%|
|WALe|3.3 years|
|eNVIRONMeNTAL RATINGS|
|NABeRS eNeRGY|5.0 Stars|
|NABeRS WATeR|3.0 Stars|

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McKell Building

SYDNEY, NSW

The McKell Building is a 23-level office tower located on Rawson Place, Sydney in one of the CBD’s most accessible locations. The building is 100% leased to the NSW Government for a period of 15 years with two further five year options.

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ADDReSS 2-24 Rawson Place, Sydney, NSW

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|||
|---|---|
|SeCTOR|Commercial|
|LAND AReA|2,760 sqm|
|LeTTABLe AReA|25,251 sqm|
|ACquISITION DATe|June 2013|
|MAJOR TeNANT|Government Property NSW|
|eXTeRNAL VALuATION|$130.0 m (May 13)|
|BOOk VALue|$130.0 m|
|OCCuPANCY|100%|
|CAP RATe|8.25%|
|WALe|15.0 years|
|eNVIRONMeNTAL RATINGS|
|NABeRS eNeRGY|4.0 Stars|
|NABeRS WATeR|4.0 Stars|

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Cromwell Property Group | Portfolio June 2013 11

Synergy

TGA Complex

380 Latrobe Street

200 Mary Street

MELBOURNE, vIC

BRISBANE, QLD

KELvIN GROvE, QLD

SYMONSTON, ACT

The Latrobe Street property is a modern A grade office complex with 21,961 square metres of office accommodation. The 18 level building has 2 separate foyers fronting Latrobe Street.

200 Mary Street is just 125 metres from the GPO and in Brisbane’s premiers financial district called the Golden Triangle. The 19 level office tower serves as the head office of Cromwell Property Group. To the south and east of the building tenants enjoy views over the Brisbane River to Moreton Bay as well as Brisbane’s hinterland.

Synergy is located within Kelvin Grove Urban Village, a master-planned inner-city Brisbane precinct merging business, technology, education and the arts. It is a state of the art A-grade building with a 5 Star Green Star as designed rating.

The Therapeutic Goods Administration (TGA) complex at Symonston consists of 2 separate buildings on a 17 hectare site approximately 8 kilometres from the Canberra CBD. The main building is a world class office and laboratory facility.

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ADDReSS
380-390 Latrobe Street,
Melbourne VIC 3000
SeCTOR
Commercial
LAND AReA
2,899 sqm
LeTTABLe AReA
21,961 sqm
ACquISITION DATeDecember 2005
MAJOR
TeNANT
Agrium Asia
Pacifc Services
eXTeRNAL
VALuATION
$114.5 m
(Jun 13)
BOOk VALue
$114.5 m
OCCuPANCY
100%
CAP RATe
7.75%
WALe
5.2 years
eNVIRONMeNTAL RATINGS
NABeRS eNeRGY
4.0 Stars
NABeRS WATeR
4.0 Stars		 ADDReSS
200 Mary Street,
Brisbane, qLD 4000
SeCTOR
Commercial
LAND AReA
1,834 sqm
LeTTABLe AReA
13,848 sqm
ACquISITION DATeJune 2001
MAJOR
TeNANT
Government
(Public Works)
eXTeRNAL
VALuATION
$81.0 m
(Jun 13)
BOOk VALue
$81.0 m
OCCuPANCY
82.5%
CAP RATe
8.25%
WALe
2.1 years
eNVIRONMeNTAL RATINGS
NABeRS eNeRGY
3.0 Stars
NABeRS WATeR
4.5 Stars		 ADDReSS
76-88 Musk Avenue,
kelvin Grove, qLD 4059
SeCTOR
Offce
LAND AReA
3,878 sqm
LeTTABLe AReA
14,144 sqm
ACquISITION DATeJune 2007
MAJOR
TeNANT
quT
eXTeRNAL
VALuATION
$73.5 m
(Dec 12)
BOOk VALue
$73.5 m
OCCuPANCY
100%
CAP RATe
9.0%
WALe
4.1 years
eNVIRONMeNTAL RATINGS
NABeRS eNeRGY
5.5 Stars
NABeRS WATeR
4.5 Stars		 ADDReSS
136 Narrabundah Lane,
Symonston, ACT 2609
SeCTOR
Commercial
LAND AReA
173,500 sqm
LeTTABLe AReA
18,524 sqm
ACquISITION DATeJune 2002
MAJOR
TeNANT
Government
(TGA)
eXTeRNAL
VALuATION
$69.0 m
(Jun 13)
BOOk VALue
$69.0 m
OCCuPANCY
100%
CAP RATe
9.25%
WALe
3.8 years
eNVIRONMeNTAL RATINGS
NABeRS eNeRGY
under Tenant Control
NABeRS WATeR
under Tenant Control

12 Cromwell Property Group | Portfolio June 2013

Bundall

Corporate Centre

BRISBANE, QLD

The Bundall Corporate Centre complex consists of two A-grade office towers, a gym and 15,500 square metres of surrounding land on 5 additional titles which provides opportunity for further development.

health & Forestry house

BRISBANE, QLD

Health & Forestry House is ideally located in the centre of Brisbane’s CBD. The adjacent towers are connected via ‘air bridges’ on levels 13, 15 and 17 and a raised courtyard on level 3. The asset represents a significant repositioning opportunity in the medium term.

Lovett Bligh Tower house

WODEN, ACT

SYDNEY, NSW

With 22 commercial office floors and ground floor retail, Lovett Tower is Canberra’s tallest building and is 99% leased to the Department of Veteran Affairs until June 2016.

Bligh House is a 17-level commercial office building located on Bligh Street in the Sydney CBD and is 95% leased to the NSW State Government.

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ADDReSS 1 Corporate Dr, Bundall, qLD 4217

ADDReSS

ADDReSS

ADDReSS

ADDReSS ADDReSS ADDReSS ADDReSS
1 Corporate Dr,
Bundall, qLD 4217
SeCTOR
Commercial
LAND AReA
26.821 sqm
LeTTABLe AReA
21,109 sqm
ACquISITION DATeFebruary 2012
MAJOR
TeNANT
Wyndham Vacation
Resorts Asia Pacifc
eXTeRNAL
VALuATION
$68.0 m
(Dec 12)
BOOk VALue
$68.5 m
OCCuPANCY
88.4%
CAP RATe
11.0%
WALe
4.8 years
eNVIRONMeNTAL RATINGS
NABeRS eNeRGY
3.0 Stars1
NABeRS WATeR		 146-160 Mary St & 147-163
Charlotte St, Brisbane qLD 4000
SeCTOR
Commercial
LAND AReA
3,449 sqm
LeTTABLe AReA
26,713 sqm
ACquISITION DATeJune 2013
MAJOR
TeNANT
Government
eXTeRNAL
VALuATION
$65.0 m
(May 13)
BOOk VALue
$65.0 m
OCCuPANCY
100%
CAP RATe
12.08%
WALe
3.2 years
eNVIRONMeNTAL RATINGS
NABeRS eNeRGY
4.0 Stars1
NABeRS WATeR		 13 keltie Street,
Woden, ACT
SeCTOR
Commercial
LAND AReA
1,258 sqm
LeTTABLe AReA
20,540 sqm
ACquISITION DATeDecember 2006
MAJOR
TeNANT
Government
(Veteran Affairs)
eXTeRNAL
VALuATION
$62.5 m
(Jun 13)
BOOk VALue
$62.5 m
OCCuPANCY
100%
CAP RATe
11.00%
WALe
3.0 years
eNVIRONMeNTAL RATINGS
NABeRS eNeRGY
4.0 Stars
NABeRS WATeR
5.0 Stars		 4 Bligh Street,
Sydney NSW 2000
SeCTOR
Commercial
LAND AReA
1,220 sqm
LeTTABLe AReA
9,964 sqm
ACquISITION DATeJune 2013
MAJOR
TeNANT
Government
Property NSW
eXTeRNAL
VALuATION
$53.0 m
(May 13)
BOOk VALue
$53.0 m
OCCuPANCY
100%
CAP RATe
8.75%
WALe
4.8 years
eNVIRONMeNTAL RATINGS
NABeRS eNeRGY
4.0 Stars
NABeRS WATeR
3.5 Stars

  1. Ratings for Corporate Centre Two asset

  2. Ratings for Forestry House

NOTe: Image is an architects impression.

Cromwell Property Group | Portfolio June 2013

13

100 Waymouth Street

homebase Centre

ADELAIDE, SA

PROSPECT, NSW

100 Waymouth Street is This major homemaker centre a 13 level A grade office is located approximately building located on the 30 kilometres West of northern side of Waymouth Sydney’s CBD. The centre Street at the western entrance provides excellent accessibility to the city. The building has being adjacent to the M4 undergone an extensive motorway within the suburb refurbishment completed in of Prospect, and has a main March 2013. frontage to Stoddard Road.

Brooklyn Woolstore

BROOKLYN, vIC

The woolstore is strategically located in a major industrial area adjacent to arterial freeways, 10 kilometres west of the Melbourne CBD. There is also a freight line adjacent to the property. The building’s size and road frontage provides the opportunity to divide the building into multiple industrial units in the future.

43 Bridge Street

HURSTvILLE, NSW

This property is located in Hurtsville’s commercial market, which is a subregional centre within the middle ring of Sydney’s Southern/South Western suburbs situated approximately 20 kilometres from Sydney CBD.

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ADDReSS
100 Waymouth Street,
Adelaide SA 5000
SeCTOR
Commercial
LAND AReA
1,435 sqm
LeTTABLe AReA
12,305 sqm
ACquISITION DATeApril 2003
MAJOR
TeNANT
Community CPS
eXTeRNAL
VALuATION
$40.0 m
(Dec 12)
BOOk VALue
$42.3 m
OCCuPANCY
27.9%
CAP RATe
8.75%
WALe
14.3 years
eNVIRONMeNTAL RATINGS
NABeRS eNeRGY
N/A
NABeRS WATeR
N/A		 ADDReSS
Homebase,
Prospect, NSW
SeCTOR
Retail
LAND AReA
6.55 ha
LeTTABLe AReA
25,819 sqm
ACquISITION DATeJuly 2006
MAJOR
TeNANTS
Fantastic Furniture,
The Good Guys
eXTeRNAL
VALuATION
$36.8 m
(Jun 13)
BOOk VALue
$36.8 m
OCCuPANCY
89.9%
CAP RATe
11.00%
WALe
3.3 years
eNVIRONMeNTAL RATINGS
NABeRS eNeRGY
N/A
NABeRS WATeR
N/A		 ADDReSS
Lots 2 & 5, Frederick Rd,
Brooklyn, VIC 3012
SeCTOR
Industrial
LAND AReA
165,200 sqm
LeTTABLe AReA
104,342 sqm
ACquISITION DATeJune 2004
MAJOR
TeNANT
Wesfarmers
Dalgety Ltd.
eXTeRNAL
VALuATION
$35.5 m
(Dec 12)
BOOk VALue
$36.1 m
OCCuPANCY
100%
CAP RATe
9.25%
WALe
9.0 years
eNVIRONMeNTAL RATINGS
NABeRS eNeRGY
under Tenant Control
NABeRS WATeR
under Tenant Control		 ADDReSS
43 Bridge Street,
Hurstville, NSW
SeCTOR
Commercial
LAND AReA
4,126 sqm
LeTTABLe AReA
9,799 sqm
ACquISITION DATeJuly 2006
MAJOR
TeNANT
State Property
Authority of NSW
eXTeRNAL
VALuATION
$31.8 m
(Dec 12)
BOOk VALue
$31.8 m
OCCuPANCY
96.0%
CAP RATe
10.25%
WALe
3.3 years
eNVIRONMeNTAL RATINGS
NABeRS eNeRGY
4.5 Stars
NABeRS WATeR
4.0 Stars

14 Cromwell Property Group | Portfolio June 2013

19 National Circuit

BARTON, ACT

Located in Canberra’s parliamentary precinct, the property occupies a prized location for Government tenants, with its proximity to Parliament House, the High Court of Australia, the majority of Commonwealth Embassies and High Commissions as well as the popular Kingston Shopping Precinct.

Oracle Building

LYNEHAM, ACT

The Oracle Building is a modern A grade commercial office complex enjoying double street frontage just 2 kilometres north of the Canberra CBD. The U-shaped building provides 4 levels of office accommodation, a central courtyard and 2 levels of covered car parking.

Station Street

PENRITH, NSW

Station Street is a modern, A-grade building located in Penrith’s main retail and business precinct opposite the Penrith Railway Station and Westfield’s Penrith Plaza. It is 100% leased to the NSW Government.

Terrace Office Park

BOWEN HILLS, QLD

Situated on the border of Bowen Hills and Fortitude Valley, 1.2 kilometres from Brisbane’s CBD, the property has a high profile position on one of the major arterial roads leading into the city. The site has been immaculately landscaped and includes a tennis court and outdoor function area.

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ADDReSS
19 National Circuit,
Barton, ACT 2600
SeCTOR
Commercial
LAND AReA
6,658 sqm
LeTTABLe AReA
7,073 sqm
ACquISITION DATeJuly 2005
MAJOR
TeNANT
Australian National
Audit Offce
eXTeRNAL
VALuATION
$31.0 m
(Jun 13)
BOOk VALue
$31.0 m
OCCuPANCY
100%
CAP RATe
8.75%
WALe
5.2 years
eNVIRONMeNTAL RATINGS
NABeRS eNeRGY
4.5 Stars
NABeRS WATeR
4.0 Stars		 ADDReSS
243 Northbourne Ave
Lyneham ACT 2602
SeCTOR
Commercial
LAND AReA
7,765 sqm
LeTTABLe AReA
8,455 sqm
ACquISITION DATeNovember 2001
MAJOR
TeNANTS
Verizon Business,
Oracle
eXTeRNAL
VALuATION
$29.1 m
(Jun 13)
BOOk VALue
$29.1 m
OCCuPANCY
100%
CAP RATe
9.75%
WALe
4.9 years
eNVIRONMeNTAL RATINGS
NABeRS eNeRGY
4.5 Stars
NABeRS WATeR
4.5 Stars		 ADDReSS
2-6 Station Street,
Penrith NSW 2750
SeCTOR
Commercial
LAND AReA
2,501 sqm
LeTTABLe AReA
8,437 sqm
ACquISITION DATeJune 2013
MAJOR
TeNANT
Government
Property NSW
eXTeRNAL
VALuATION
$28.7 m
(May 13)
BOOk VALue
$28.7 m
OCCuPANCY
100%
CAP RATe
8.25%
WALe
15.0 years
eNVIRONMeNTAL RATINGS
NABeRS eNeRGY
4.5 Stars
NABeRS WATeR
4.0 Stars		 ADDReSS
527 Gregory Terrace,
Bowen Hills qLD 4006
SeCTOR
Commercial
LAND AReA
7,003 sqm
LeTTABLe AReA
7,413 sqm
ACquISITION DATeJune 1999
MAJOR
TeNANTS
NeC, Royal Flying
Doctor Service
eXTeRNAL
VALuATION
$26.5 m
(Dec 12)
BOOk VALue
$26.5 m
OCCuPANCY
91.2%
CAP RATe
8.50%
WALe
1.9 years
eNVIRONMeNTAL RATINGS
NABeRS eNeRGY
3.0 Stars
NABeRS WATeR
5.0 Stars

Cromwell Property Group | Portfolio June 2013 15

NQX Distribution Centre

PINKENBA, QLD

The NQX Distribution Centre was completed in October 2000 and is leased to national logistics company Toll Holdings. Strategically located in Brisbane’s Gateway precinct, the facility has easy access to the Port of Brisbane, Brisbane Airport and the Gateway Motorway.

Crown Street

WOLLONGONG, NSW

Crown Street is a B-grade office building located within the Wollongong CBD between Crown Street and Market Street and 91% leased by the NSW Government.

Farrer Place

QUEANBEYAN, NSW

Farrer Place is a modern, A-grade office building that is 100% leased to the AA rated NSW Government. It is located approximately 500 metres west of the main Queanbeyan CBD.

Smithfield Industrial Property

SMITHFIELD, NSW

Located in a well established and popular industrial area in Sydney’s South Western suburbs, this industrial complex presents multiple opportunities for redevelopment while delivering ongoing income.

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ADDReSS
180 Holt Street,
Pinkenba qLD 4009
SeCTOR
Industrial
LAND AReA
63,040 sqm
LeTTABLe AReA
18,728 sqm
ACquISITION DATeFebruary 2003
MAJOR
TeNANT
Toll North Pty Ltd
eXTeRNAL
VALuATION
$25.4 m
(Dec 12)
BOOk VALue
$25.4 m
OCCuPANCY
100%
CAP RATe
8.75%
WALe
2.4 years
eNVIRONMeNTAL RATINGS
NABeRS eNeRGY
under Tenant Control
NABeRS WATeR
under Tenant Control		 ADDReSS
94 Crown Street,
Wollongong, NSW 2500
SeCTOR
Commercial
LAND AReA
8,542 sqm
LeTTABLe AReA
9,070 sqm
ACquISITION DATeJune 2013
MAJOR
TeNANT
Government
Property NSW
eXTeRNAL
VALuATION
$23.9 m
(May 13)
BOOk VALue
$23.9 m
OCCuPANCY
100%
CAP RATe
10.25%
WALe
14.8 years
eNVIRONMeNTAL RATINGS
NABeRS eNeRGY
4.5 Stars
NABeRS WATeR
4.5 Stars		 ADDReSS
11 Farrer Place,
queanbeyan NSW 2620
SeCTOR
Commercial
LAND AReA
4,052 sqm
LeTTABLe AReA
6,300 sqm
ACquISITION DATeJune 2013
MAJOR
TeNANT
Government
Property NSW
eXTeRNAL
VALuATION
$22.6 m
(May 13)
BOOk VALue
$22.6 m
OCCuPANCY
100%
CAP RATe
8.75%
WALe
15.0 years
eNVIRONMeNTAL RATINGS
NABeRS eNeRGY
4.5 Stars
NABeRS WATeR
4.0 Stars		 ADDReSS
28-54 Percival Rd,
Smithfeld, NSW
SeCTOR
Industrial
LAND AReA
55,170 sqm
LeTTABLe AReA
24,641 sqm
ACquISITION DATeMay 2007
MAJOR
TeNANT
Cargo Logistics,
Microbial
eXTeRNAL
VALuATION
$19.0 m
(Jun 13)
BOOk VALue
$19.0 m
OCCuPANCY
89.2%
CAP RATe
10.25%
WALe
0.9 years
eNVIRONMeNTAL RATINGS
NABeRS eNeRGY
under Tenant Control
NABeRS WATeR
under Tenant Control

16 Cromwell Property Group | Portfolio June 2013

Gillman Woolstore

GILLMAN, SA

Constructed in 1986 as a purpose built wool store, the property is operated by Australian Wool Handlers. The property is approximately 12 kilometres northwest of the Adelaide CBD and strategically located 500 metres east of shipping facilities on the Port Adelaide River, and the DarwinAdelaide railway.

vodafone Call Centre

KINGSTON, TAS

The Vodafone Call Centre is a purpose built facility approximately 15 kilometres south of the Hobart CBD. The property is situated in the Huntingfield Estate, a light industrial subdivision developed in the early 1990s.

village Cinemas

GEELONG, vIC

The cinema complex is well located within Geelong’s established retail and restaurant precinct. The cinemas are purpose built and located in the main street of Geelong, in a commercial/ entertainment precinct. The cinema has 11 standard screens and 2 Gold Class cinemas.

Bull Street

NEWCASTLE, NSW

Bull Street is a B-grade, fourlevel office building and is 100% leased by the NSW State Government.

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ADDReSS
Lot 2, Grand Trunkway
Gillman SA 5013
SeCTOR
Industrial
LAND AReA
60,840 sqm
LeTTABLe AReA
31,677 sqm
ACquISITION DATeJune 2004
MAJOR
TeNANT
Australian Wool
Handlers
eXTeRNAL
VALuATION
$16.2 m
(Dec 12)
BOOk VALue
$16.7 m
OCCuPANCY
100%
CAP RATe
9.00%
WALe
8.0 years
eNVIRONMeNTAL RATINGS
NABeRS eNeRGY
under Tenant Control
NABeRS WATeR
under Tenant Control		 ADDReSS
50 Huntingfeld Avenue,
kingston TAS 7050
SeCTOR
Commercial
LAND AReA
30,500 sqm
LeTTABLe AReA
6,222 sqm
ACquISITION DATeJune 2004
MAJOR
TeNANT
Vodafone
eXTeRNAL
VALuATION
$15.0 m
(Dec 12)
BOOk VALue
$15.0 m
OCCuPANCY
100%
CAP RATe
9.25%
WALe
3.3 years
eNVIRONMeNTAL RATINGS
NABeRS eNeRGY
under Tenant Control
NABeRS WATeR
under Tenant Control		 ADDReSS
194-204 Ryrie Street,
Geelong VIC 3220
SeCTOR
Retail
LAND AReA
2,916 sqm
LeTTABLe AReA
4,701 sqm
ACquISITION DATeJune 2004
MAJOR
TeNANT
Village Cinemas
eXTeRNAL
VALuATION
$12.8 m
(Dec 12)
BOOk VALue
$13.9 m
OCCuPANCY
100%
CAP RATe
8.50%
WALe
11.7 years
eNVIRONMeNTAL RATINGS
NABeRS eNeRGY
under Tenant Control
NABeRS WATeR
under Tenant Control		 ADDReSS
117 Bull Street
Newcastle, NSW 2300
SeCTOR
Commercial
LAND AReA
6,765 sqm
LeTTABLe AReA
6,236 sqm
ACquISITION DATeJune 2013
MAJOR
TeNANT
Government
Property NSW
eXTeRNAL
VALuATION
$13.8 m
(May 13)
BOOk VALue
$13.8 m
OCCuPANCY
100%
CAP RATe
10.25%
WALe
15.0 years
eNVIRONMeNTAL RATINGS
NABeRS eNeRGY
4.5 Stars
NABeRS WATeR
4.5 Stars

Cromwell Property Group | Portfolio June 2013 17

Regent Cinema Centre

ALBURY, NSW

Originally developed in 1927, the historic Village Albury serves as a valuable social hub for the community. A major redevelopment in 2004 has seen the complex expanded to house 9 screens with seating for 1,708 patrons. The building also houses a number of retail tenants.

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ADDReSS 450-460 Dean Street, Albury NSW 2640

Albury NSW 2640
SeCTOR Retail
LAND AReA 3,732 sqm
LeTTABLe AReA 5,849 sqm
ACquISITION DATe June 2004
MAJOR Village Cinemas
TeNANT
eXTeRNAL $13.5 m
VALuATION (Dec 12)
BOOk VALue $13.5 m
OCCuPANCY 100%
CAP RATe 9.00%
WALe 5.5 years
eNVIRONMeNTAL RATINGS
NABeRS eNeRGY under Tenant Control
NABeRS WATeR under Tenant Control

18 Cromwell Property Group | Portfolio June 2013

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Disclaimer

Cromwell Property Securities Limited ACN 079 147 809 AFSL 238052 (CPS) has prepared this booklet. CPS is the responsible entity of the Cromwell Diversified Property Trust ARSN 102 982 598 (DPT). units in the DPT are stapled to shares in Cromwell Corporation Limited ACN 001 056 980 and the stapled securities are listed on the Australian Securities exchange (ASX:CMW).

This booklet is not intended to provide financial product advice. It has been prepared without taking into account any investor’s objectives, financial situation or needs. In deciding whether or not to acquire or continue to hold an investment an investor should consider any relevant offer document and assess, with or without your financial or taxation adviser, whether the product fits their objectives, financial situation or needs.

An investment in Cromwell Property Group is subject to investment risk and no member of the Group makes any promise or representation or gives any guarantee as to the success of the Group, its distributions or the taxation consequences of investing.

Cromwell Property Group does not warrant that the information in this document is up to date or accurate. The Group does not accept any liability for any errors in or omissions from this document nor for any loss that may be suffered by any person relying on information in this document.

MELBOURNE

Level 5, 700 Collins Street Melbourne VIC 3008

Cromwell Property Group | Portfolio June 2013 19

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