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CROMWELL PROPERTY GROUP Investor Presentation 2012

Aug 22, 2012

64673_rns_2012-08-22_762375c9-0540-415e-a1ac-078df0b08f73.pdf

Investor Presentation

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PROPERTY PORTFOLIO

June 2012

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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

GROuP PROFILE

Cromwell Property Group is an Australian Real Estate Investment Trust (A-REIT) and Property Fund Manager with over $2 billion in assets under management.

ABOUT US

KEY FEATURES

Listed on the Australian Securities Exchange (ASX: CMW), Cromwell Property Group has over $2 billion in assets under management and manages commercial properties throughout Australia.

The Group has delivered operating earnings of over $80 million in the 2012 financial year (FY12) from the Group’s property portfolio.

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

  • Security price of $0.685 at 30 June 2012

  • Represents 10.2% pa yield on distributions paid for FY12 of 7.0 cents per security

  • Australian focus. No exposure to offshore markets

  • Defensive portfolio with strong cash flow and minimal short-term lease expiry

  • Experienced and stable executive team

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INTEGRATED PROPERTY MANAGEMENT MODEL

KEY FINANCIAL STATISTICS[1]

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

Cromwell’s 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 2012
TOTAL ASSETS $1.84 billion
NET ASSETS $789 million
NET TANGIBLE ASSETS $787 million
SECuRITIES ON ISSuE 1.2 billion
NTA PER SECuRITY $0.67
GEARING 51%

1 Excludes assets in managed funds.

By keeping these functions inhouse, 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 2012 1

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PORTFOLIO OvERvIEW

ENvIRONMENTAL RATINGS

PORTFOLIO NABERS RATING[1]

Since 2007, Cromwell has applied the National Australian Built Environment Rating System (NABERS) to measure the operational impacts of its properties[*] on the environment. When the Building Energy Efficiency Disclosure Act 2010 took effect in November 2010, the Group was already compliant.

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5
4.1 star 4.1 star
4 3.9 star 3.9 star
2.9 star
3
2
1
0
2008 2009 2010 2011 2012
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1 NABERS assessments are not undertaken for some assets where the tenant has full operational control and manages the total resource consumption.

2 CROMWELL PROPERTY GROUP PORTFOLIO JuNE 2012

Cromwell’s income is underpinned by a focus on quality income producing Australian assets with strong tenant covenants. We aim for 4% annual growth in ‘like for like’ property income.

KEY PROPERTY STATISTICS[1]

June 2012
TOTAL VALuE $1.72 billion
NuMBER OF PROPERTIES 22
OCCuPANCY 96.4%
WEIGHTED AVERAGE LEASE ExPIRY 6.2 years
WEIGHTED AVERAGE CAP RATE 8.28%
NET LETTABLE AREA 505,386 m2
PERCENTAGE OF OFFICE PROPERTY
(BY GROSS INCOME)		 93.4%

GEOGRAPHIC DIvERSIFICATION BY GROSS INCOME

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VIC 26.8%
TAS 1.4%
SA 4.5%
QLD 29.7%
NSW 17.5%
ACT 20.1%
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1 Excludes assets in managed funds.

TENANT CLASSIFICATION BY GROSS INCOME

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GOVERNMENT
39.1%
AUTHORITY
PRIVATE
15.7%
COMPANY
LISTED
45.2%
ENTITY
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LEASE EXPIRY PROFILE % GROSS INCOME BY FINANCIAL YEAR

SECTOR DIvERSIFICATION BY GROSS INCOME

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70%
62.1
60%
50%
40%
30%
20% 18.2
7.1 7.1
10% 5.5
0
FY13 FY14 FY15 FY16 FY17
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OFFICE 93.4%
INDUSTRIAL 4.8%
RETAIL 1.8%
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CROMWELL PROPERTY GROUP PORTFOLIO JuNE 2012 3

PROPERTY LEADERShIP

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Paul Weightman MANAGING DIRECTOR / CEO

Daryl Wilson DIRECTOR – FINANCE & FUNDS MANAGEMENT

Phil Cowling

DIRECTOR – CROMwELL PROjECT & TECHNICAL SOLUTIONS

Noel Woodward

HEAD OF PROPERTY SERvICES

Paul has been the key driver of Cromwell’s success since the company’s 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 has practised as a solicitor for more than 20 years and holds degrees in commerce and law.

Daryl has led the

development of the Group’s property 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 12 years with Cromwell.

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

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 the 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.

As Head of Property Services, 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.

4 CROMWELL PROPERTY GROUP PORTFOLIO JuNE 2012

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 NATIONAL LEASING MANAGER

Brad Collins NATIONAL 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 Cromwell’s national team of inhouse facilities managers throughout Australia 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 managerial positions.

CROMWELL PROPERTY GROUP PORTFOLIO JuNE 2012 5

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
SECTOR
Commercial
LAND AREA
8,895 sqm
LETTABLE AREA
29,364 sqm
ACqUISITION DATE
Dec 2011
MAjOR TENANTS
AECOM Australia,
Technology One,
Bechtel Australia,
CS Energy		 EXTERNAL
vALUATION
$194.0 m
(June 12)
BOOK vALUE
$194.0 m
OCCUPANCY
99.8%
CAP RATE
8.13%
wALE
6.2 years
ENvIRONMENTAL RATINGS
NABERS ENERGY
Targeting 5 Star1
NABERS wATER
Targeting 5 Star1
  1. Expected ratings, based on performance to date

700 Collins Street

MELBOURNE, vIC

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

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ADDRESS
700 Collins Street,
Melbourne VIC 3008
SECTOR
Commercial
LAND AREA
4,836 sqm
LETTABLE AREA
33,851 sqm
ACqUISITION DATE
December 2004
MAjOR TENANTS
Bureau of Meteorology
and Medibank Private		 EXTERNAL
vALUATION
$172.0 m
(Dec 11)
BOOK vALUE
$172.4 m
OCCUPANCY
100%
CAP RATE
7.50%
wALE
3.1 years
ENvIRONMENTAL RATINGS
NABERS ENERGY
3.5 Stars
NABERS wATER
4.5 Stars

Qantas Global headquarters

MASCOT, NSw

The Qantas Global Headquarters comprises four purpose built buildings strategically positioned near Sydney airport. Qantas recently agreed terms to extend the lease by a further 12 years until 2032, reinforcing its strategic commitment to the precinct. The property is currently undergoing a $131.5 m expansion and refurbishment.

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ADDRESS
203 Coward Street,
Mascot, NSW
SECTOR
Commercial
LAND AREA
27,160 sqm
LETTABLE AREA
46,546 sqm
ACqUISITION DATE
August 2010
MAjOR TENANTS
Qantas Airways Limited		 EXTERNAL
vALUATION
$170.0 m
(Oct 11)
BOOK vALUE
$198.8 m1
OCCUPANCY
100%
CAP RATE
7.25%
wALE
20.5 years
ENvIRONMENTAL RATINGS
NABERS ENERGY
under Tenant Control
NABERS wATER
under Tenant Control
  1. Includes cost of refurbishment since last external valuation.

6 CROMWELL PROPERTY GROUP PORTFOLIO JuNE 2012

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 until 2016.

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ADDRESS
Athllon Drive,
TuggeranongACT 2900
SECTOR
Commercial
LAND AREA
80,780 sqm
LETTABLE AREA
30,757 sqm
ACqUISITION DATE
June 2008
MAjOR TENANTS
Government
Department of Families,
Housing, Community
Service and Indigenous
Affairs.		 EXTERNAL
vALUATION
$173.0 m
(Jun 12)
BOOK vALUE
$173.0 m
OCCUPANCY
100%
CAP RATE
8.5%
wALE
4.5 years
ENvIRONMENTAL RATINGS
NABERS ENERGY
under Tenant Control
NABERS wATER
under Tenant Control

321 Exhibition 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 mid 2011, meets PCA A Grade standards The refurbishment was supported by the Green Building Fund.

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ADDRESS
321 Exhibition Street,
Melbourne VIC 3001
SECTOR
Commercial
LAND AREA
2,914 sqm
LETTABLE AREA
30,198 sqm
ACqUISITION DATE
July 2010
MAjOR TENANTS
Origin Energy		 EXTERNAL
vALUATION
$169.0 m
(Dec 11)
BOOK vALUE
$170.0 m
OCCUPANCY
100%
CAP RATE
7.50%
wALE
9.4 years
ENvIRONMENTAL RATINGS
NABERS ENERGY
Not rated1
NABERS wATER
Not rated1
  1. Due to building refurbishment

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 sqm while the retail space covers an area of approximately 835 sqm.

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ADDRESS
475-501 Victoria
Avenue, Chatswood,
NSW 2067
SECTOR
Commercial
LAND AREA
6,030 sqm
LETTABLE AREA
24,970 sqm
ACqUISITION DATE
March 2006
MAjOR TENANTS
Reed Elsevier Australia,
Evans & Peck and
Leighton Contractors		 EXTERNAL
vALUATION
$135.0 m
(Jun 12)
BOOK vALUE
$135.0 m
OCCUPANCY
97.3%
CAP RATE
8.25%
wALE
4.6 years
ENvIRONMENTAL RATINGS
NABERS ENERGY
4.0 Stars
NABERS wATER
3.0 Stars

CROMWELL PROPERTY GROUP PORTFOLIO JuNE 2012 7

380 Latrobe Street

MELBOURNE, vIC

The Latrobe Street property is a modern A grade office complex with 21,959 sqm of office accommodation. The 18 level building has 2 separate foyers fronting Latrobe Street.

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ADDRESS
380-390 Latrobe
Street, Melbourne VIC
3000
SECTOR
Commercial
LAND AREA
2,899 sqm
LETTABLE AREA
21,959 sqm
ACqUISITION DATE
December 2005
MAjOR TENANTS
Agrium Asia Pacifc
Services, Australian
Taxation Offce		 EXTERNAL
vALUATION
$107.0 m
(June 12)
BOOK vALUE
$107.0 m
OCCUPANCY
100%
CAP RATE
8.0%
wALE
2.6 years
ENvIRONMENTAL RATINGS
NABERS ENERGY
4.0 Stars
NABERS wATER
3.0 Stars

200 Mary Street

BRISBANE, qLD

Cromwell House at 200 Mary Street is strategically located in Brisbane’s CBD, just 125 metres from the GPO and in an area known as Brisbane’s 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.

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ADDRESS
200 Mary Street,
Brisbane, QLD 4000
SECTOR
Commercial
LAND AREA
1,834 sqm
LETTABLE AREA
13,861 sqm
ACqUISITION DATE
June 2001
MAjOR TENANTS
Queensland Dept.
of Public Works,
Commonwealth
Government,
QER Pty Ltd		 EXTERNAL
vALUATION
$87.0 m
(Jun 12)
BOOK vALUE
$87.0 m
OCCUPANCY
95.7%
CAP RATE
8.25%
wALE
2.6 years
ENvIRONMENTAL RATINGS
NABERS ENERGY
3.0 Stars
NABERS wATER
2.5 Stars

TGA Complex

SYMONSTON, ACT

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 which is leased to the TGA until 2017.

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ADDRESS
136 Narrabundah Lane,
Symonston, ACT 2609
SECTOR
Commercial
LAND AREA
173,500 sqm
LETTABLE AREA
18,524 sqm
ACqUISITION DATE
June 2002
MAjOR TENANT
Therapeutic Goods
Administration		 EXTERNAL
vALUATION
$70.0 m
(Jun 12)
BOOK vALUE
$70.0 m
OCCUPANCY
100%
CAP RATE
9.50%
wALE
4.8 years
ENvIRONMENTAL RATINGS
NABERS ENERGY
under Tenant Control
NABERS wATER
under Tenant Control

8 CROMWELL PROPERTY GROUP PORTFOLIO JuNE 2012

Synergy

KELvIN GROvE, qLD

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 which was completed in 2008 and has been awarded a 5 Star Green Star as designed rating. A 5 Star rating recognises and rewards “Australian Excellence” in building design.

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ADDRESS
76-88 Musk Avenue,
Kelvin Grove, QLD 4059
SECTOR
Offce
LAND AREA
3,878 sqm
LETTABLE AREA
14,144 sqm
ACqUISITION DATE
June 2007
MAjOR TENANT
Queensland university
of Technology		 EXTERNAL
vALUATION
$73.0 m
(June 12)
BOOK vALUE
$73.0 m
OCCUPANCY
100%
CAP RATE
8.75%
wALE
5.1 years
ENvIRONMENTAL RATINGS
NABERS ENERGY
5.0 Stars
NABERS wATER
5.0 Stars

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.

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ADDRESS
1 Corporate Dr,
Bundall, QLD 4217
SECTOR
Commercial
LAND AREA
26.821 sqm
LETTABLE AREA
21,094 sqm
ACqUISITION DATE
Feb 2012
MAjOR TENANTS
Wyndham Vacation
Resorts Asia Pacifc,
Professional Investment
Services, Corporate
Executive Offces		 EXTERNAL
vALUATION
$65.0 m
(Dec 11)
BOOK vALUE
$65.3 m
OCCUPANCY
90.9%
CAP RATE
11.0%
wALE
4.7 years

ENvIRONMENTAL RATINGS
CC1 NABERS ENERGY 3.0 Stars
CC1 NABERS wATER 3.0 Stars
CC2 NABERS ENERGY 4.5 Stars
CC2 NABERS wATER 4.0 Stars

101 Grenfell Street

ADELAIDE, SA

Located in a prime corner position in the heart of Adelaide’s main commercial office precinct, 101 Grenfell Street sits comfortably amid other high quality office accommodation and some of the city’s foremost retail precincts, including Rundle Mall.

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ADDRESS
101 Grenfell Street,
Adelaide, SA 5000
SECTOR
Commercial
LAND AREA
2,670 sqm
LETTABLE AREA
13,196 sqm
ACqUISITION DATE
January2006
MAjOR TENANT
SA Government
– Minister for
Infrastructure		 EXTERNAL
vALUATION
$42.5 m
(Dec 11)
BOOK vALUE
$43.2 m
OCCUPANCY
100%
CAP RATE
8.75%
wALE
5.8 years
ENvIRONMENTAL RATINGS
NABERS ENERGY
4.5 Stars
NABERS wATER
4.0 Stars

CROMWELL PROPERTY GROUP PORTFOLIO JuNE 2012 9

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.

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ADDRESS
19 National Circuit,
Barton, ACT 2600
SECTOR
Commercial
LAND AREA
6,658 sqm
LETTABLE AREA
7,073 sqm
ACqUISITION DATE
July2005
MAjOR TENANT
Australian National
Audit Offce		 EXTERNAL
vALUATION
$32.0 m
(Jun 12)
BOOK vALUE
$32.0 m
OCCUPANCY
100%
CAP RATE
8.5%
wALE
6.3 years
ENvIRONMENTAL RATINGS
NABERS ENERGY
4.5 Stars
NABERS wATER
4.0 Stars

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.

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ADDRESS
Lots 2 & 5,
Frederick Rd,
Brooklyn, VIC 3012
SECTOR
Industrial
LAND AREA
165,200 sqm
LETTABLE AREA
104,342 sqm
ACqUISITION DATE
June 2004
MAjOR TENANT
Wesfarmers
Dalgety Ltd.		 EXTERNAL
vALUATION
$34.8 m
(Dec 11)
BOOK vALUE
$34.4 m
OCCUPANCY
100%
CAP RATE
9.50%
wALE
1.0 years

Oracle Building

LYNEHAM, ACT

The Oracle Building is a modern A grade commercial office complex constructed in 1997 and enjoys 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.

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ADDRESS
243 Northbourne Ave
Lyneham ACT 2602
SECTOR
Commercial
LAND AREA
7,765 sqm
LETTABLE AREA
8,472 sqm
ACqUISITION DATE
November 2001
MAjOR TENANTS
Verizon Business,
Crimtrac, Oracle, SMEC,
APRA		 EXTERNAL
vALUATION
$28.5 m
(Jun 12)
BOOK vALUE
$28.5 m
OCCUPANCY
100%
CAP RATE
10.0%
wALE
2.9 years
ENvIRONMENTAL RATINGS
NABERS ENERGY
4.5 Stars
NABERS wATER
4.0 Stars

10 CROMWELL PROPERTY GROUP PORTFOLIO JuNE 2012

100 Waymouth Street

ADELAIDE, SA

The Henry Waymouth Centre is a 13 level A grade office building located on the northern side of Waymouth Street at the western entrance to the city. The offices enjoy excellent natural light and extensive views. The building is undergoing an extensive refurbishment and the first of the new tenants is set to move in by end of 2012.

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ADDRESS
100 Waymouth Street,
Adelaide SA 5000
SECTOR
Commercial
LAND AREA
1,435 sqm
LETTABLE AREA
12,589 sqm
ACqUISITION DATE
April 2003		 EXTERNAL
vALUATION
$32.0 m
(Dec 11)
BOOK vALUE
$32.0 m
OCCUPANCY
27.1%
CAP RATE
8.0%
wALE
15.4 years
ENvIRONMENTAL RATINGS
NABERS ENERGY
4.5 Stars
NABERS wATER
3.0 Stars

Terrace Office Park

BOwEN HILLS, qLD

Situated on the border of Bowen Hills and Fortitude Valley, 1.2 kilometres from Brisbane’s CBD, Terrace Office Park consists of 2 office towers over a basement car park. The property has a high profile position on one of the major arterials leading into Brisbane’s CBD, the site has been immaculately landscaped and includes a tennis court and outdoor entertainment and function area.

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ADDRESS
527 Gregory Terrace,
Bowen Hills QLD 4006
SECTOR
Commercial
LAND AREA
7,003 sqm
LETTABLE AREA
7,414 sqm
ACqUISITION DATE
June 1999
MAjOR TENANTS
NEC, Royal Flying
Doctor Service
+ uQ		 EXTERNAL
vALUATION
$27.0 m
(Dec 11)
BOOK vALUE
$26.5 m
OCCUPANCY
81.7%
CAP RATE
8.50%
wALE
1.9 years
ENvIRONMENTAL RATINGS
NABERS ENERGY
3.0 Stars
NABERS wATER
4.5 Stars

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.

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ADDRESS
180 Holt Street,
Pinkenba QLD 4009
SECTOR
Industrial
LAND AREA
63,040 sqm
LETTABLE AREA
18,728 sqm
ACqUISITION DATE
February 2003
MAjOR TENANT
Toll North Pty Ltd		 EXTERNAL
vALUATION
$26.0 m
(Jun 11)
BOOK vALUE
$26.5 m
OCCUPANCY
100%
CAP RATE
9.25%
wALE
3.4 years

CROMWELL PROPERTY GROUP PORTFOLIO JuNE 2012 11

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.

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ADDRESS
50 Huntingfeld Avenue,
Kingston TAS 7050
SECTOR
Commercial
LAND AREA
30,500 sqm
LETTABLE AREA
6,222 sqm
ACqUISITION DATE
June 2004
MAjOR TENANT
Vodafone		 EXTERNAL
vALUATION
$15.3 m
(Dec 11)
BOOK vALUE
$15.3 m
OCCUPANCY
100%
CAP RATE
10.0%
wALE
4.3 years
ENvIRONMENTAL RATINGS
NABERS ENERGY
under Tenant Control
NABERS wATER
under Tenant Control

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 Darwin-Adelaide railway.

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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 DATE
June 2004
MAjOR TENANT
Australian Wool
Handlers		 EXTERNAL
vALUATION
$14.4 m
(Dec 11)
BOOK vALUE
$15.0 m
OCCUPANCY
100%
CAP RATE
9.25%
wALE
9.0 years

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,
AlburyNSW 2640
SECTOR
Retail
LAND AREA
3,732 sqm
LETTABLE AREA
5,849 sqm
ACqUISITION DATE
June 2004
MAjOR TENANT
Village Cinemas		 EXTERNAL
vALUATION
$12.95 m
(Dec 11)
BOOK vALUE
$13.4 m
OCCUPANCY
96.9%
CAP RATE
9.25%
wALE
6.4 years
ENvIRONMENTAL RATINGS
NABERS ENERGY
under Tenant Control
NABERS wATER
under Tenant Control

12 CROMWELL PROPERTY GROUP PORTFOLIO JuNE 2012

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.

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ADDRESS
194-204 Ryrie Street,
GeelongVIC 3220
SECTOR
Retail
LAND AREA
2,916 sqm
LETTABLE AREA
4,701 sqm
ACqUISITION DATE
June 2004
MAjOR TENANT
Village Cinemas		 EXTERNAL
vALUATION
$11.7 m
(Dec 11)
BOOK vALUE
$12.1 m
OCCUPANCY
100%
CAP RATE
9.25%
wALE
0.7 years
ENvIRONMENTAL RATINGS
NABERS ENERGY
under Tenant Control
NABERS wATER
under Tenant Control

CROMWELL PROPERTY GROUP PORTFOLIO JuNE 2012 13

CROMWELL PROPERTY FuND

Cromwell currently holds approximately 18% of the issued units in the unlisted Cromwell Property Fund (CPF).

Below are details of the assets held by the CPF.

43 Bridge Street

HURTSvILLE, NSw

This property is located in Hurtsville’s commercial market, which is a sub-regional centre within the middle ring of Sydney’s Southern/South Western suburbs situated approximately 20 km from Sydney CBD and is classed as a significant Commercial Centre.

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ADDRESS
43 Bridge Street,
Hurtsville, NSW
SECTOR
Commercial
LAND AREA
4,126 sqm
LETTABLE AREA
9,799 sqm
ACqUISITION DATE
July2006
MAjOR TENANT
State Property Authority
of NSW		 EXTERNAL
vALUATION
$34.5 m
(Dec 11)
BOOK vALUE
$34.5 m
OCCUPANCY
95.3%
CAP RATE
9.50%
wALE
4.3 years
ENvIRONMENTAL RATINGS
NABERS ENERGY
4.5 Stars
NABERS wATER
3.5 Stars

homebase Centre

PROSPECT, NSw

This major homemaker centre is located approximately 30 km West of Sydney’s CBD. The centre provides excellent accessibility being adjacent to the M4 motorway within the suburb of Propect, and has a main frontage to Stoddard Road.

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ADDRESS
Homebase, Prospect,
NSW
SECTOR
Retail
LAND AREA
6.55 ha
LETTABLE AREA
25,918 sqm
ACqUISITION DATE
July2006
MAjOR TENANT
Fantastic Furniture,
The Good Guys, Nick
Scali Sofas to Go,
Beacon Lighting		 EXTERNAL
vALUATION
$38.5 m
(June 12)
BOOK vALUE
$38.5 m
OCCUPANCY
86.5%
CAP RATE
10.75%
wALE
3.3 years

14 CROMWELL PROPERTY GROUP PORTFOLIO JuNE 2012

Lovett Tower

wODEN, ACT

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 2017.

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ADDRESS
13 Keltie Street,
Woden, ACT
SECTOR
Commercial
LAND AREA
1,258 sqm
LETTABLE AREA
20,540 sqm
ACqUISITION DATE
Dec 2006
MAjOR TENANT
Department
of Veteran Affairs		 EXTERNAL
vALUATION
$73.0 m
(Jun 12)
BOOK vALUE
$73.0 m
OCCUPANCY
100%
CAP RATE
9.50%
wALE
4.0 years
ENvIRONMENTAL RATINGS
NABERS ENERGY
4.0 Stars
NABERS wATER
5.0 Stars

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
28-54 Percival Rd,
Smithfeld, NSW
SECTOR
Industrial
LAND AREA
55,170 sqm
LETTABLE AREA
26,084 sqm
ACqUISITION DATE
May2007
MAjOR TENANTS
Cargo Logistics,
Microbial, Toll		 EXTERNAL
vALUATION
$19.7 m
(Jun 12)
BOOK vALUE
$19.7 m
OCCUPANCY
30.2%
CAP RATE
10.25%
wALE
0.5 years

CROMWELL PROPERTY GROUP PORTFOLIO JuNE 2012 15

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Cromwell House, 200 Mary Street, Brisbane QLD

visit us online

For up to date information on Cromwell Property Group, please visit us online at

WWW.CROMWELL.COM.aU

head Office

BRISBANE

Level 19, 200 Mary Street Brisbane QLD 4000 Phone: +61 7 3225 7777 Fax: +61 7 3225 7788 Email: [email protected]

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.

SYDNEY

Level 14, 167 Macquarie Street Sydney NSW 2000 Ph: (02) 8278 3610 Email: [email protected]

MELBOURNE

Level 5, 700 Collins Street Melbourne VIC 3008 Email: [email protected]

CPS does not receive fees for any general advice included in this booklet. CPS does receive fees in its role as responsible entity of the DPT.

units in the Cromwell Property Fund (“CPF” or “the Fund”) are issued by Cromwell Property Securities Limited ABN 11 079 147 809, AFSL 238052. The Fund is currently closed to applications and withdrawals. This information has been prepared without taking into account your objectives, financial situation or needs. Therefore, you should assess, with or without your financial or taxation adviser, whether the product fits your objectives, financial situation or needs. This message may contain privileged and confidential information intended only for the above named addressee. If you are not the intended recipient of this message, you are hereby notified that any use, dissemination, distribution or reproduction of this message or any part thereof is prohibited. If you have received this message in error please notify Cromwell immediately. Any views expressed in this message are those of the individual sender and may not necessarily reflect the views of Cromwell.

16 CROMWELL PROPERTY GROUP PORTFOLIO JuNE 2012

CROMWELL PROPERTY GROUP PORTFOLIO JuNE 2012 17

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www.cromwell.com.au/properties

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