DEXUS - Annual Report 2018 | FinancialReports.eu

Dexus (ASX: DXS)

ASX release

==> picture [123 x 43] intentionally omitted <==

15 August 2018

2018 Property Synopsis

Dexus provides its 2018 Property Synopsis.

An excel version of the property synopsis is also available at www.dexus.com

For further information please contact:

Investor Relations Media Relations Rowena Causley Louise Murray +61 2 9017 1390 +61 2 9017 1446 +61 416 122 383 +61 403 260 754 [email protected] [email protected]

About Dexus

Dexus is one of Australia’s leading real estate groups, proudly managing a high quality Australian property portfolio valued at $27.2 billion. We believe that the strength and quality of our relationships will always be central to our success, and are deeply committed to working with our customers to provide spaces that engage and inspire. We invest only in Australia, and directly own $13.3 billion of office and industrial properties. We manage a further $13.9 billion of office, retail, industrial and healthcare properties for third party clients. The group’s $4.2 billion development pipeline provides the opportunity to grow both portfolios and enhance future returns. With 1.7 million square metres of office workspace across 53 properties, we are Australia’s preferred office partner. Dexus is a Top 50 entity by market capitalisation listed on the Australian Securities Exchange (trading code: DXS) and is supported by 27,000 investors from 20 countries. With more than 30 years of expertise in property investment, development and asset management, we have a proven track record in capital and risk management, providing service excellence to tenants and delivering superior risk-adjusted returns for investors. www.dexus.com

Download the Dexus IR app

Download the Dexus IR app to your preferred mobile device to gain instant access to the latest stock price, ASX Announcements, presentations, reports, webcasts and more.

Dexus Funds Management Ltd ABN 24 060 920 783, AFSL 238163, as Responsible Entity for Dexus (ASX: DXS)

Property Synopsis

2018

years being listed as Dexus

Dexus 2018 Property Synopsis

About

==> picture [522 x 404] intentionally omitted <==

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

Total funds under management
IN THIS REPORT
About Dexus 01
bn
Office Portfolio 02 $27.2
Industrial Portfolio 36
Directory 75
Square metres across Market
the group Capitalisation
www.
dexus2018. reportonline. 4.5m 9.9bn
com.au
ABOUT THIS REPORT
Dexus’s 2018 Property Synopsis
forms part of Dexus’s 2018
Annual Reporting Suite which
Properties Engaged employees
includes:
1. 2018 Dexus Annual Report
2. 2018 Dexus Combined
148 427
Financial Statements
3. 2018 Dexus Sustainability
Performance Pack
4. 2018 Dexus Annual Results
Presentation
Customers Entity on ASX
4,962 Top 50
years
being listed
as Dexus
----- End of picture text -----

All data as at 30 June 2018.

Dexus is one of Australia’s leading real estate groups, managing a high quality Australian property portfolio valued at $27.2 billion.

We believe the strength and quality of our relationships will be central to our success, and are deeply committed to working with our customers to provide spaces that engage and inspire.

The creation of sustained value is underpinned by our quality property portfolio, located across Australia’s major cities. We are committed to playing a leading role in shaping Australian cities for the future as desirable places to live, work and play.

We invest only in Australia, and directly own $13.3 billion of office and industrial properties. We manage a further $13.9 billion of office, retail, industrial and healthcare properties for third party clients. The group’s $4.2 billion development pipeline provides the opportunity to grow both portfolios and enhance future returns.

With 1.7 million square metres of office workspace across 53 properties, we are focused on being Australia’s preferred office partner. Our portfolio also includes 77 industrial properties, 16 shopping centres and 2 healthcare properties under management across Australia.

Dexus is a Top 50 entity by market capitalisation listed on the Australian Securities Exchange (trading code: DXS) and is supported by 27,000 investors from 20 countries. With more than 30 years of expertise in property, investment, development and asset management, we have a proven track record in capital and risk management and delivering superior risk-adjusted returns for our investors.

Dexus Office Partnership $2.3bn Dexus Industrial Partnership $0.2bn Australian Industrial Partnership $0.3bn Australian Mandate $2.0bn Healthcare WholesaleProperty Fund $27.2bn $0.1bn Dexus Wholesale Property Fund $9.0bn Dexus $13.3bn

Office Portfolio

Dexus 2018 Property Synopsis

Office Portfolio

Dexus is focused on being the leading owner and manager of Australian office. We believe the benefits of scale in core CBD office markets provides us with valuable market and customer insights and the opportunity to invest in people, systems and technologies that enhance our customers’ experience, strengthening our position as a flexible workspace solutions partner.

Perth

Key metrics	FY18	FY17	FY16	FY15	FY14
Portfolio value ($bn)	11.0	10.2	9.2	7.8	7.7
Total properties	46	47	50	49	53
Net lettable area (sqm)	1,495,238	1,581,646	1,562,997	1,403,255	1,490,070
Like-for-like income growth (%) Occupancy by income (%)	4.5 96.0	2.6 97.2	1.0 96.3	0.2 95.3	3.61 94.6
Occupancy by area (%)	95.7	97.0	96.3	95.5	94.3
Portfolio WALE by income (years)	4.6	4.8	4.7	4.3	4.7
Tenant retention (%)	54	46	62	61	611
Weighted average capitalisation rate (%)	5.37	5.78	6.16	6.71	6.871
1 year total return (%)	16.9	14.1	16.0	9.6	9.21

Excluding Dexus Office Partnership properties.

==> picture [354 x 431] intentionally omitted <==

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

Brisbane
Sydney
Canberra
Melbourne
----- End of picture text -----

Sydney Canberra 29 properties 2 properties 872,580sqm 40,079sqm 58% area 3% area $7,536m $105m 70% value 1% value

Melbourne

Brisbane

6 properties 6 properties 210,437sqm 250,477sqm 14% area 17% area $864m $1,655m 8% value 15% value

Perth

3 properties 121,666sqm 8% area $590m 6% value

Office Portfolio

Dexus 2018 Property Synopsis

Creating a great customer experience plays a big part in driving retention and attracting new customers to the Dexus platform."

==> picture [507 x 341] intentionally omitted <==

Property type by book value

==> picture [152 x 139] intentionally omitted <==

Premium Grade – office 36% A Grade – office 56% B Grade – office 4% Heritage <1% Office Park 2% Development 2% Carpark <1%

Geographical weighting by book value

==> picture [165 x 146] intentionally omitted <==

==> picture [77 x 58] intentionally omitted <==

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

NSW 70%
Victoria 8%
Queensland 15%
ACT 1%
Western Australia 6%
----- End of picture text -----

Diversity by tenants by income

==> picture [163 x 147] intentionally omitted <==

Legal services Other finance Engineering Consultancy Services 11.4% 5.1% 1.8% Business services Metal ore mining Construction services Other 4.7% 1.6% 7.0% State Government Employment Placement Banks and building 4.4% and Recruitment Services societies 1.3% 6.6% Oil and Gas 3.8% Other public administration Accounting services Investment banks 1.3% 6.2% 2.7% Scientific and Technical Services Rental & Real Food Retailing 1.2% Estate services 2.5% 5.7% Electricity, gas, water Retailing (non-food) and waste service Information 2.5% 1.1% media and telecommunications Insurance Superannuation 5.3% 2.1% 1.1% Federal Government Healthcare and Education and training 5.2% social assistance 1.0% 2.0% Car park services Other 5.1% 7.3%

Office Portfolio

Dexus 2018 Property Synopsis

Office lease expiry profile

Dexus office portfolio

==> picture [16 x 7] intentionally omitted <==

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

20%
----- End of picture text -----

==> picture [488 x 232] intentionally omitted <==

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

Income Area
15.1 [%] 15.1 [%]
15%
11.7 [%] 11.3% 11.6 [%]
10.6 [%] 10.7 [%] 10.4%
10%
6.8 [%] [7.3][%]
5% 4.0 [%] [4.3] [%]
0%
Available FY19 FY20 FY21 FY22 FY23
Sydney CBD
20%
Income Area
----- End of picture text -----

Sydney CBD

==> picture [488 x 365] intentionally omitted <==

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

15%
13.6 [%] [ 14.6] [%]
13.0 [%] 12.7% 12.4 [%] 12.2 [%][ 12.3][%]
11.2 [%]
10%
5.0 [%] [5.2][%]
5%
2.3 [%] 2.0%
0%
Available FY19 FY20 FY21 FY22 FY23
Sydney Suburban
25%
Income Area
22.0 [%][22.8][%]
20.6 [%]
20% 19.2 [%]
15%
12.5 [%] 12.5 [%]
10%
7.7 [%] [8.7][%] 8.6 [%] 7.5 [%]
5.2 [%] 4.8%
5%
0%
Available FY19 FY20 FY21 FY22 FY23
----- End of picture text -----

Sydney Suburban

Brisbane CBD

==> picture [488 x 176] intentionally omitted <==

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

35%
Income Area
30.4 [%][31.0][%]
30%
25%
20% 19.0 [%]
17.0 [%]
15%
10.6 [%]
10%
6.7 [%]
5%
2.4 [%] [2.6][%] 2.5 [%] [3.2][%] 3.0 [%] 3.0 [%]
0%
Available FY19 FY20 FY21 FY22 FY23
----- End of picture text -----

Melbourne CBD

==> picture [15 x 7] intentionally omitted <==

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

20%
----- End of picture text -----

==> picture [55 x 6] intentionally omitted <==

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

Income Area
----- End of picture text -----

==> picture [489 x 364] intentionally omitted <==

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

15% 14.5 [%] 14.4 [%]
11.4 [%]
10%
7.8 [%]
5.7 [%]
5.1 [%] [5.2][%]
5%
3.2 [%] 3.0 [%] 2.8 [%]
1.6 [%] 1.6 [%]
0%
Available FY19 FY20 FY21 FY22 FY23
Perth CBD
30%
Income Area
26.1 [%]
25% 24.4 [%]
20%
15%
9.7 [%]
10%
7.5 [%]
6.6 [%]
5.3 [%] 5.2 [%]
5% 4.5 [%] 4.0 [%] 3.5%
1.8 [%] [2.2][%]
0%
Available FY19 FY20 FY21 FY22 FY23
----- End of picture text -----

Office Portfolio

Dexus 2018 Property Synopsis

Sustainability

NABERS is a national rating system that measures the energy efficiency, water usage, waste management and indoor environment quality of a building or tenancy and its impact on the environment.

Dexus continues its commitment to improving the sustainability of its office properties, achieving an average 4.9 star NABERS Energy rating and an average 3.6 star NABERS Water rating in its office portfolio, including newly acquired properties.

In FY18 Dexus achieved NABERS Energy ratings of 5.5 stars or higher at 14 properties, representing 32% of total rated area. The Dexus office portfolio now includes 35 properties representing 76% of total rated area, with a NABERS Energy rating of 5 stars or above, improving customer appeal and reducing outgoings for tenants.

==> picture [150 x 150] intentionally omitted <==

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

4.9 star office
portfolio average
----- End of picture text -----

6 stars 2% 5.5 stars 30% 5 stars 44% 4.5 stars 14% 4 stars 6% 3.5 stars 4% 3 stars <1%

Energy intensity 46.1[%] *Since 2008.

Water intensity GHG emissions 22.2[%] 48.2[%]

All data as at 30 June 2018.

NABERS rating

==> picture [506 x 18] intentionally omitted <==

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

NABERS Energy NABERS Water
----- End of picture text -----

	30 June	2018	30 June	2017	30 June 2018	30 June 2017
	Inc GP	Ex GP	Inc GP	Ex GP
FinlayCrispCentre, Canberra – Allara House	4.5	4.5	4.5	4.0	3.0	3.5
FinlayCrispCentre, Canberra – Customs House	5.0	4.5	4.5	4.0	3.5	3.5
FinlayCrispCentre, Canberra – Nara House	5.0	4.5	4.5	4.5	4.5	4.5
Garema Court, 140-180 CityWalk, Canberra	5.0	5.0	5.0	5.0	4.0	4.0
11 Talavera Road, Macquarie Park 56 BerryStreet, North Sydney 60 Miller Street, North Sydney	5.0 3.0 5.5	4.5 3.0 5.0	5.0 n/a 5.0	4.5 n/a 5.0	4.0 n/a 3.5	4.0 n/a 3.5
201 Miller Street, North Sydney	5.0	5.0	5.0	5.0	4.0	4.0
2 & 4 Dawn Fraser Avenue SydneyOlympic Park	5.0	5.0	5.0	5.0	5.5	5.5
101 George Street, Parramatta	5.5	5.0	5.5	5.0	3.5	4.0
130 George Street, Parramatta	5.0	5.0	5.0	4.5	3.5	3.5
150 George Street, Parramatta	5.5	5.5	5.5	5.5	3.5	3.5
100 Harris Street, Pyrmont	NR	NR	n/a	n/a	NR	n/a
1 Bligh Street, Sydney	5.0	5.0	5.0	5.0	4.5	4.5
14-18 Lee Street, Sydney	5.5	5.5	5.0	5.0	4.5	3.0
175 Pitt Street, Sydney(Tower)	5.5	5.0	5.5	5.0	4.0	4.0
201-217 Elizabeth Street, Sydney	4.5	4.0	4.5	4.0	3.0	3.0
30-34 Hickson Road, Sydney	5.5	5.5	5.5	5.0	3.5	3.5
309 Kent Street, Sydney	5.0	5.0	5.0	5.0	4.0	4.0
321 Kent Street, Sydney	5.0	5.0	5.0	4.0	3.0	2.5
383-395 Kent Street, Sydney	5.0	5.0	4.5	4.5	4.0	4.0
44 Market Street, Sydney	5.0	5.0	5.0	4.5	4.0	3.5
45 Clarence Street, Sydney	5.5	5.0	5.5	5.0	4.0	3.5
5 Martin Place, Sydney	5.0	5.0	NR	NR	3.5	NR
56 Pitt Street, Sydney	5.0	5.0	5.0	5.0	4.0	4.0
60 Castlereagh Street, Sydney	5.0	5.0	5.0	4.5	3.5	3.5
Australia Square — Tower, 264 George Street, Sydney	5.0	4.5	4.5	4.5	3.5	3.5
Australia Square — Plaza, 264 George Street, Sydney	5.5	5.5	5.0	5.0	NR	4.0
Governor PhillipTower, 1 Farrer Place, Sydney	4.5	4.0	4.5	4.0	3.5	3.5
Governor Macquarie Tower, 1 Farrer Place, Sydney	4.5	4.0	4.0	3.0	3.5	3.5
Grosvenor Place, 225 George Street, Sydney	4.5	4.5	4.0	4.0	3.0	3.0
MLC Centre Tower, 19 Martin Place, Sydney	5.5	4.5	n/a	n/a	2.5	n/a
One Margaret Street, Sydney	5.5	5.0	5.5	5.0	3.5	3.5
Waterfront Place, 1 Eagle Street, Brisbane	5.5	5.5	5.0	5.0	4.0	4.5
10 Eagle Street, Brisbane	5.0	5.0	4.5	4.5	4.0	4.0
12 Creek Street, Brisbane	4.0	4.0	4.0	4.0	4.0	3.5
123 Albert Street, Brisbane	5.5	5.5	5.5	5.5	4.0	4.0
145 Ann Street, Brisbane	6.0	5.5	5.5	5.5	4.0	4.5
480 Queen Street, Brisbane	5.0	5.0	NR	NR	NR	NR
172 Flinders Gate, Melbourne	Exempt	Exempt	3.0	2.5	Exempt	3.0
189 Flinders Gate, Melbourne	Exempt	Exempt	3.5	2.5	Exempt	1.0
180 Lonsdale Street, Melbourne	4.5	4.5	4.5	4.5	4.5	4.5
222 Lonsdale Street, Melbourne	5.0	4.5	5.0	4.5	4.5	4.5
385 Bourke Street, Melbourne	4.0	4.0	4.5	4.0	2.5	3.0
8 Nicholson Street, Melbourne	3.5	3.0	3.5	2.5	3.5	4.0
240 St Georges Terrace, Perth	5.0	5.0	4.5	4.5	3.0	3.0
Kings Square 1, 556 Wellington Street, Perth	NR	NR	NR	NR	NR	NR
Kings Square 2, 562 Wellington Street, Perth	5.5	5.5	NR	n/a	NR	n/a
Kings Square 3, Wellington Street, Perth	NR	NR	NR	NR	NR	NR
58 Mounts BayRoad, Perth	5.0	5.0	5.0	5.0	4.0	4.0
Total	4.9	4.7	4.7	4.4	3.6	3.5

Office Portfolio

Dexus 2018 Property Synopsis

Summary of properties

				Ownership
Property address	State	Metro area	Building type	%
FinlayCrispCentre,1 Constitution Avenue,Canberra	ACT	Canberra CBD	B Grade - ofce	50
Garema Court,140-180 CityWalk,Canberra	ACT	Canberra CBD	A Grade - ofce	100
11 Talavera Road,Macquarie Park	NSW	Macquarie Park	Ofce Park	100
56 BerryStreet,North Sydney	NSW	North Sydney	B Grade - ofce	50
60 Miller Street,North Sydney	NSW	North Sydney	A Grade - ofce	100
100 Mount Street,North Sydney	NSW	North Sydney	Development	50
201 Miller Street,North Sydney	NSW	North Sydney	A Grade - ofce	50
101 George Street,Parramatta	NSW	Parramatta CBD	A Grade - ofce	50
130 George Street,Parramatta	NSW	Parramatta CBD	B Grade - ofce	100
140 George Street,Parramatta	NSW	Parramatta CBD	Land	50
150 George Street,Parramatta	NSW	Parramatta CBD	A Grade - ofce	50
2 & 4 Dawn Fraser Avenue,SydneyOlympic Park	NSW	SydneyOlympic Park	A Grade - ofce	75
100-130 Harris Street,Pyrmont	NSW	SydneyCBD	A Grade - ofce	100
Australia Square Complex,264-278 George Street,Sydney	NSW	SydneyCBD	A Grade - ofce	50
Governor Phillip & Macquarie Tower Complex,
1 Farrer Place,Sydney	NSW	SydneyCBD	Premium Grade - ofce	50
Grosvenor Place,225 George Street,Sydney	NSW	SydneyCBD	Premium Grade - ofce	37.5
MLC Centre,19 Martin Place,Sydney	NSW	SydneyCBD	A Grade - ofce	25
One Margaret Street,Sydney	NSW	SydneyCBD	A Grade - ofce	100
1 Bligh Street,Sydney	NSW	SydneyCBD	Premium Grade - ofce	33
5 Martin Place,Sydney	NSW	SydneyCBD	Premium Grade - ofce	25
14-18 Lee Street,Sydney	NSW	SydneyCBD	A Grade - ofce	50
30 The Bond,30-34 Hickson Road,Sydney	NSW	SydneyCBD	A Grade - ofce	100
36 The Bond,36 Hickson Road,Sydney	NSW	SydneyCBD	Heritage	100
44 Market Street,Sydney	NSW	SydneyCBD	A Grade - ofce	100
45 Clarence Street,Sydney	NSW	SydneyCBD	A Grade - ofce	100
56 Pitt Street,Sydney	NSW	SydneyCBD	B Grade - ofce	50
60 Castlereagh Street,Sydney	NSW	SydneyCBD	A Grade - ofce	50
175 Pitt Street,Sydney	NSW	SydneyCBD	A Grade - ofce	50
201-217 Elizabeth Street,Sydney	NSW	SydneyCBD	A Grade - ofce	50
309-321 Kent Street,Sydney	NSW	SydneyCBD	A Grade - ofce	50
383-395 Kent Street,Sydney	NSW	SydneyCBD	A Grade - ofce	100
Waterfront Place Complex,1 Eagle Street,Brisbane	QLD	Brisbane CBD	Premium Grade - ofce	50
10 Eagle Street,Brisbane	QLD	Brisbane CBD	A Grade - ofce	50
12 Creek Street,Brisbane	QLD	Brisbane CBD	A Grade - ofce	50
123 Albert Street,Brisbane	QLD	Brisbane CBD	Premium Grade - ofce	100
145 Ann Street,Brisbane	QLD	Brisbane CBD	A Grade - ofce	50
480 Queen Street,Brisbane	QLD	Brisbane CBD	Premium Grade - ofce	50
Flinders Gate Complex, 172 Flinders Street &
189 Flinders Lane,Melbourne	VIC	Melbourne CBD	B Grade - ofce	100
8 Nicholson Street,Melbourne	VIC	Melbourne CBD	A Grade - ofce	100
180-222 Lonsdale Street,Melbourne	VIC	Melbourne CBD	A Grade - ofce	25
385 Bourke Street,Melbourne	VIC	Melbourne CBD	A Grade - ofce	50
Kings Square,Wellington Street,Perth	WA	Perth CBD	A Grade - ofce	50
58 Mounts BayRoad,Perth	WA	Perth CBD	A Grade - ofce	25
240 St. Georges Terrace,Perth	WA	Perth CBD	Premium Grade - ofce	100
HWT 32-44 Flinders Street,Melbourne	VIC	Melbourne CBD	Carpark	100
34-60 Little Collins Street,Melbourne	VIC	Melbourne CBD	Carpark	100

Lettable area								AIFRS NOI
adjusted for		Book value	Independent	Independent		Leased	WALE by	12 mths to
ownership	Acquisition	30 June 2018	valuation	valuation	Cap rate	by area	income	30 June 18
‘000sqm	date	$m	date	$m	%	%	(years)	$m
14.3	Apr-14	35.1	Jun-18	35.1	9.00	100	2.1	5.6
11.4	Aug-00	70.2	Jun-18	70.2	6.50	99	5.5	3.9
35.8	Jun-02	223.0	Jun-18	223.0	6.25	92	3.2	10.3
2.6	Dec-17	31.3	Jun-18	31.3	5.25	100	5.3	1.0
19.3	Dec-98	230.0	Jun-18	230.0	5.75	100	4.8	8.5
21.1 7.3 9.0 19.8	Apr-16 Apr-14 Apr-14 May-97	202.5 67.5 56.5 144.0	Jun-18 Jun-18 Jun-18 Jun-18	202.5 67.5 56.5 144.0	5.13 6.25 6.50 5.88	60 96 100 100	5.1 3.1 3.3 6.4	- 3.1 3.9 7.2
-	Jun-18	14.2	-	-	-	-	-	-
11.0	Apr-14	60.5	Jun-18	60.5	6.50	100	3.4	4.9
25.6	Feb-13	120.9	Jun-18	120.9	7.50	45	0.6	7.2
26.8	Jul-17	300.0	Jun-18	300.0	5.38	92	7.0	12.5
26.7	Aug-00	545.0	Jun-18	545.0	5.00	96	3.7	20.1
42.5	Dec-98	1,072.5	Jun-18	1,072.5	4.76	99	5.9	36.0
31.5	Feb-13	678.8	Jun-18	678.8	4.88	100	4.9	26.5
19.4	Jul-17	372.2	Jun-18	372.3	5.08	92	3.6	14.6
20.9	Dec-98	326.0	Jun-18	326.0	5.00	100	4.3	13.5
14.4	Aug-00	350.0	Jun-18	350.0	4.63	100	8.2	14.1
8.3	Apr-14	175.0	Jun-18	175.0	4.75	100	7.5	5.9
7.3	Apr-14	67.5	Jun-18	67.5	5.63	99	2.0	3.1
19.7	May-02	314.0	Jun-18	314.0	5.25	100	5.2	11.9
1.1	Sep-16	20.0	Jun-18	20.0	5.13	100	4.5	1.0
30.9	Sep-87	398.0	Jun-18	398.0	5.25	98	3.9	18.2
32.0	Dec-98	467.0	Jun-18	467.0	5.13	100	3.8	19.4
10.0	Apr-14	144.5	Jun-18	144.5	5.38	94	2.0	5.9
13.5	Apr-14	220.0	Jun-18	220.0	5.13	100	3.9	8.2
13.3	Apr-14	244.0	Jun-18	244.0	5.01	97	5.7	7.1
-	Aug-00	-	-	-	-	-	-	-
23.8	Dec-98	337.5	Jun-18	337.5	5.33	99	4.5	13.1
18.0	Sep-87	354.0	Jun-18	354.0	5.25	100	3.9	14.5
33.6	Oct-15	397.3	Jun-18	397.3	5.60	96	4.6	18.5
13.9	Apr-14	130.5	Jun-18	130.5	5.75	98	3.9	6.9
15.7	Oct-12	164.1	Jun-18	164.2	5.76	88	3.8	7.8
39.4	Oct-84	434.0	Jun-18	434.0	5.50	99	3.1	26.2
14.0	Apr-14	145.0	Jun-18	145.0	5.88	100	4.1	9.5
28.3	Apr-13	384.3	Jun-18	384.3	5.13	100	7.8	17.5
19.9	Mar-99	114.2	Jun-18	114.2	5.50	58	4.6	2.2
22.8	Nov-93	177.5	Jun-18	177.5	5.13	100	10.0	10.7
27.9	Apr-14	237.5	Jun-18	237.5	5.35	98	4.5	11.9
30.1	Apr-14	312.0	Jun-18	312.0	5.30	97	5.4	13.2
26.2	May-13	216.0	Jun-18	216.0	6.79	100	6.6	7.5
5.6	Apr-14	53.8	Jun-18	53.8	6.75	97	3.8	4.7
46.9	Jan-01	320.0	Jun-18	320.0	6.75	88	4.1	25.9
-	Jun-98	-	-	-	-	-	-	-
0.1	Nov-84	22.5	Jun-18	22.5	10.16	100	1.4	2.7

Office Portfolio

Dexus 2018 Property Synopsis

Summary of properties continued

==> picture [90 x 11] intentionally omitted <==

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

Finlay Crisp Centre
----- End of picture text -----

1 Constitution Avenue, Canberra

==> picture [69 x 8] intentionally omitted <==

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

Garema Court
----- End of picture text -----

==> picture [204 x 15] intentionally omitted <==

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

140-180 City Walk, Canberra
----- End of picture text -----

Finlay Crisp Centre is a commercial complex located at the southern edge of Canberra’s CBD. Comprising three adjacent buildings, each with their own basement car parking, storage levels and entrance: Customs House is a 12 level building, while Allara House and Nara Centre are 6 levels each with a shared central forecourt ideal for meetings and breakout spaces.

Garema Court is one of Canberra’s most recognisable office buildings situated at the heart of the city’s central business and shopping precincts. The seven level A-Grade building features a modern entrance foyer with high ceiling and integrated café. Every level has large floor plates with full height windows that maximise natural light, and there is a wrap around outdoor terrace on an upper level.

Building type B Grade - office Title Leasehold Site area (hectares) 0.9 Lettable area ('000sqm) 28.6 Lettable area adjusted for ownership ('000sqm) 14.3 Typical floor area (sqm) 1,050-1,300 Number of buildings 3 Car parking spaces 315 NABERS Energy rating (with Green Power) Allara 4.5 / Customs 5.0 / Nara 5.0 NABERS Energy rating (without Green Power) Allara 4.5 / Customs 4.5 / Nara 4.5 NABERS Water rating Allara 3.0 / Customs 3.5 / Nara 4.5 Year built 1988	Building type A Grade - office
	Title Leasehold
	Site area (hectares) 0.2
	Lettable area ('000sqm) 11.4
	Lettable area adjusted for ownership ('000sqm) 11.4
	Typical floor area (sqm) 1,625
	Number of buildings 1
	Car parking spaces 68
	NABERS Energy rating (with Green Power) 5.0
	NABERS Energy rating (without Green Power) 5.0
	NABERS Water rating 4.0
	Year built 1997
	Major tenant Commonwealth of Australia
	Owner DXS
Major tenant Commonwealth of Australia	Ownership (%) 100
Owner DXS Ownership (%) 50 Co-owner Dexus Office Partner Metro area Canberra CBD Zoning CZ1 Core Zone Acquisition date April 2014 Book value at ownership ($m) 35.1 Independent valuation date June 2018 Independent valuation at ownership ($m) 35.1 Market cap rate (%) 9.00 Initial yield (%) 17.15 Leased by area (%) 100 Weighted lease term by income (years) 2.1	Metro area Canberra CBD
	Zoning CZ1 Core Zone
	Acquisition date August 2000
	Book value at ownership ($m) 70.2
	Independent valuation date June 2018
	Independent valuation at ownership ($m) 70.2
	Market cap rate (%) 6.50
	Initial yield (%) 7.13
	Leased by area (%) 99
	Weighted lease term by income (years) 5.5

==> picture [249 x 224] intentionally omitted <==

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

11 Talavera Road,
Macquarie Park
----- End of picture text -----

11 Talavera Road offers three A-Grade buildings with a diverse mix of office space solutions and designs to suit varied needs, as well as onsite car parking. Its abundant onsite amenities make 11 Talavera an enviable workplace for employees, with two cafes, a restaurant, gym, swimming pool, tennis courts and a childcare centre.

==> picture [248 x 224] intentionally omitted <==

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

56 Berry Street, North Sydney
----- End of picture text -----

56 Berry Street is a 5,175 square metre B Grade office building, located within North Sydney Council’s Ward Street masterplan precinct.

Building type Office Park Title Freehold Site area (hectares) 3.6 Lettable area ('000sqm) 35.8 Lettable area adjusted for ownership ('000sqm) 35.8 Typical floor area (sqm) 2,000-4,000 Number of buildings 3 Car parking spaces 1,058 NABERS Energy rating (with Green Power) 5.0 NABERS Energy rating (without Green Power) 4.5 NABERS Water rating 4.0 Year built 2000 Major tenant The Nielsen Company Owner DXS Ownership (%) 100 Metro area Macquarie Park Zoning B7 Business Park & B3 Commercial Core Acquisition date June 2002 Book value at ownership ($m) 223.0 Independent valuation date June 2018 Independent valuation at ownership ($m) 223.0 Market cap rate (%) 6.25 Initial yield (%) 5.80 Leased by area (%) 92 Weighted lease term by income (years) 3.2	Building type B Grade - office
	Title Freehold
	Site area (hectares) 0.6
	Lettable area ('000sqm) 5.2
	Lettable area adjusted for ownership ('000sqm) 2.6
	Typical floor area (sqm) 410
	Number of buildings 1
	Car parking spaces 36
	NABERS Energy rating (with Green Power) 3.0
	NABERS Energy rating (without Green Power) 3.0
	NABERS Water rating n/a
	Year built 1972
	Major tenant Christie Corporate
	Owner DXS
	Ownership (%) 50
	Co-owner Dexus Office Partner
	Metro area North Sydney
	Zoning B3 Commercial Core
	Acquisition date December 2017
	Book value at ownership ($m) 31.3
	Independent valuation date June 2018
	Independent valuation at ownership ($m) 31.3
	Market cap rate (%) 5.25
	Initial yield (%) 5.45
	Leased by area (%) 100
	Weighted lease term by income (years) 5.3

Office Portfolio

Dexus 2018 Property Synopsis

Summary of properties continued

60 Miller Street, North Sydney

60 Miller Street is located in a prominent corner position within the North Sydney CBD. The property comprises 12 levels of office accommodation, two levels of retail and three levels of basement parking for 165 vehicles. A five storey annex building offers large floor plate sizes and significant refurbishment to the original office building including new foyer and lifts was completed in 2012.

==> picture [248 x 224] intentionally omitted <==

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

100 Mount Street, North Sydney
----- End of picture text -----

100 Mount Street is the location for a new development of a 34 level premium office tower spanning approximately 42,000 square metres. This prime development site occupies one of the best locations in North Sydney on the corner of Mount and Walker Streets with a third street frontage to Spring Street. The site has prime retail exposure and benefits from its proximity to key transport infrastructure, excellent natural light and Harbour views.

	Building type	A Grade - office
	Title	Freehold
	Site area (hectares)	0.4
	Lettable area ('000sqm)	19.3
	Lettable area adjusted for ownership ('000sqm)	19.3
	Typical floor area (sqm)	1,150
	Number of buildings	1
	Car parking spaces	165
	NABERS Energy rating (with Green Power)	5.5
	NABERS Energy rating (without Green Power)	5.0
	NABERS Water rating	3.5
	Year built	1987
	Major tenant	Flight Centre
	Owner	DXS
	Ownership (%)	100
	Metro area	North Sydney
	Zoning	B3 Commercial Core
	Acquisition date	December 1998
	Book value at ownership ($m)	230.0
	Independent valuation date	June 2018
	Independent valuation at ownership ($m)	230.0
	Market cap rate (%)	5.75
	Initial yield (%)	5.54
	Leased by area (%)	100
	Weighted lease term by income (years)	4.8

	Building type	Development
	Title	Freehold
	Site area (hectares)	1.8
	Lettable area ('000sqm)	42.1
	Lettable area adjusted for ownership ('000sqm)	21.1
	Typical floor area (sqm)	1,200
	Number of buildings	1
	Car parking spaces	113
	Green star rating	6.0 Star (Design & As Built v1.1)
	Major tenant	NBN Co.
	Owner	DXS
	Ownership (%)	50
	Co-owner	Dexus Wholesale Property Fund
	Metro area	North Sydney
	Zoning	B3 Commercial Core
	Acquisition date	April 2016
	Book value at ownership ($m)	202.5
	Independent valuation date	June 2018
	Independent valuation at ownership ($m)	202.5
	Market cap rate (%)	5.13
	Leased by area (%)	60
	Weighted lease term by income (years)	5.1

201 Miller Street, North Sydney

101 George Street, Parramatta

201 Miller Street offers 22 levels of A-Grade office space with 665 square metres typical floor plates, parking for 91 cars and floor-to-ceiling windows that flood workspaces with natural light and offer enviable views across Sydney Harbour. The building occupies a commanding position at the junction of Miller and Berry Streets and North Sydney’s largest retail precinct in Greenwood Plaza is close by.

101 George Street is an A-Grade office building with ground floor retail on a prime corner location in Parramatta's thriving CBD with frontages to George and Charles Streets. The nine-level building has light filled floor plates of approximately 2,000 square metres with interconnecting stairs between levels designed for flexible and collaborative working. The office tower is currently occupied by Commonwealth Bank of Australia.

Building type A Grade - office Title Freehold Site area (hectares) 0.2 Lettable area ('000sqm) 14.6 Lettable area adjusted for ownership ('000sqm) 7.3 Typical floor area (sqm) 665 Number of buildings 1 Car parking spaces 91 NABERS Energy rating (with Green Power) 5.0 NABERS Energy rating (without Green Power) 5.0 NABERS Water rating 4.0 Year built 1972 Major tenant Nestle Australia Owner DXS Ownership (%) 50 Co-owner Dexus Office Partner Metro area North Sydney Zoning B3 Commercial Core Acquisition date April 2014 Book value at ownership ($m) 67.5 Independent valuation date June 2018 Independent valuation at ownership ($m) 67.5 Market cap rate (%) 6.25 Initial yield (%) 5.61 Leased by area (%) 96 Weighted lease term by income (years) 3.1	Building type A Grade - office
	Title Freehold
	Site area (hectares) 0.4
	Lettable area ('000sqm) 18.1
	Lettable area adjusted for ownership ('000sqm) 9.0
	Typical floor area (sqm) 1,945
	Number of buildings 1
	Car parking spaces 295
	NABERS Energy rating (with Green Power) 5.5
	NABERS Energy rating (without Green Power) 5.0
	NABERS Water rating 3.5
	Green star rating 4.0 Star (Office As-built v2)
	Year built 2006
	Major tenant Commonwealth Bank of Australia
	Owner DXS
	Ownership (%) 50
	Co-owner Dexus Office Partner
	Metro area Parramatta CBD
	Zoning B3 Commercial Core
	Acquisition date April 2014
	Book value at ownership ($m) 56.5
	Independent valuation date June 2018
	Independent valuation at ownership ($m) 56.5
	Market cap rate (%) 6.50
	Initial yield (%) 7.62
	Leased by area (%) 100
	Weighted lease term by income (years) 3.3

Office Portfolio

Dexus 2018 Property Synopsis

Summary of properties continued

130 George Street, Parramatta

140 George Street, Parramatta

130 George Street is located at the heart of Parramatta’s financial district with panoramic views over Parramatta River towards Sydney, and the Blue Mountains. Accommodation in the contemporary B Grade tower is spread over 14 levels with large floor plates offering flexible office configuration options.

140 George Street is a proposed A-Grade office building across 45,700 square metres, designed with large, open, contiguous floorplates to maximise fitout flexibility, daylight access and views. Located on the corner of George and Charles Streets, 140 George Street capitalises on the site’s unique riverside location, offering extensive views to the north over the river as well as back to Sydney’s CBD.

	Building type	B Grade - office
	Title	Freehold
	Site area (hectares)	1.0
	Lettable area ('000sqm)	19.8
	Lettable area adjusted for ownership ('000sqm)	19.8
	Typical floor area (sqm)	1,480
	Number of buildings	1
	Car parking spaces	83
	NABERS Energy rating (with Green Power)	5.0
	NABERS Energy rating (without Green Power)	5.0
	NABERS Water rating	3.5
	Year built	1984
	Major tenant	Commonwealth of Australia
	Owner	DXS
	Ownership (%)	100
	Metro area	Parramatta CBD
	Zoning	B3 Commercial Core
	Acquisition date	May 1997
	Book value at ownership ($m)	144.0
	Independent valuation date	July 2018
	Independent valuation at ownership ($m)	144.0
	Market cap rate (%)	5.88
	Initial yield (%)	6.02
	Leased by area (%)	100
	Weighted lease term by income (years)	6.4

	Building type	Land
	Owner	DXS
	Ownership (%)	50
	Co-owner	Dexus Office Partner
	Metro area	Parramatta CBD
	Acquisition date	June 2018
	Book value at ownership ($m)	14.2

150 George Street, Parramatta

150 George Street is a distinctive A-Grade office building located in Parramatta’s prime business district with frontages to George and Charles Streets. The contemporary 22 level tower features an exclusive terrace on level 6 and a full service concierge and above-ground car park with 492 parking spaces.

	Building type	A Grade - office
	Title	Freehold
	Site area (hectares)	0.5
	Lettable area ('000sqm)	22.0
	Lettable area adjusted for ownership ('000sqm)	11.0
	Typical floor area (sqm)	1,200
	Number of buildings	1
	Car parking spaces	492
	NABERS Energy rating (with Green Power)	5.5
	NABERS Energy rating (without Green Power)	5.5
	NABERS Water rating	3.5
	Year built	1992
	Major tenant	Commonwealth Bank of Australia
	Owner	DXS
	Ownership (%)	50
	Co-owner	Dexus Office Partner
	Metro area	Parramatta CBD
	Zoning	B3 Commercial Core
	Acquisition date	April 2014
	Book value at ownership ($m)	60.5
	Independent valuation date	June 2018
	Independent valuation at ownership ($m)	60.5
	Market cap rate (%)	6.50
	Initial yield (%)	8.20
	Leased by area (%)	100
	Weighted lease term by income (years)	3.4

==> picture [249 x 224] intentionally omitted <==

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

2 & 4 Dawn Fraser Avenue,
Sydney Olympic Park
----- End of picture text -----

2 & 4 Dawn Fraser Avenue comprises two adjoining A-Grade office buildings with retail accommodation in a highly visible location opposite the Sydney Olympic Park railway station. The contemporary seven-level building features large, column free floor plates. The facility is well connected to Sydney via the M4 motorway for motorists with parking for 593 cars spread over six split level basement floors.

Building type	A Grade - office
Title	Leasehold
Site area (hectares)	0.6
Lettable area ('000sqm)	34.2
Lettable area adjusted for ownership ('000sqm)	25.6
Typical floor area (sqm)	1,965-2,656
Number of buildings	2
Car parking spaces	593
NABERS Energy rating (with Green Power)	5.0
NABERS Energy rating (without Green Power)	5.0
NABERS Water rating	5.5
Green star rating	5.0 Star (Office Design v2) / 5.0
	Star (Office As Built v2)
Year built	2008
Major tenant	Commonwealth Bank of Australia
Owner	DXS
Ownership (%)	75
Co-owner	Dexus Office Partner
Metro area	Sydney Olympic Park
Zoning	B4 Mixed Use
Acquisition date	February 2013
Book value at ownership ($m)	120.9
Independent valuation date	June 2018
Independent valuation at ownership ($m)	120.9
Market cap rate (%)	7.50
Initial yield (%)	3.51
Leased by area (%)	45
Weighted lease term by income (years)	0.6

Office Portfolio

Dexus 2018 Property Synopsis

Summary of properties continued

100-130 Harris Street, Pyrmont

100 Harris Street is a boutique office building located in the thriving Sydney fringe office market of Pyrmont. 100 Harris Street presents a unique blend of heritage character with modern functionality. The building provides 24,423 square metres of A-Grade office and features very large floors plates, high ceilings and internal atria. The new addition of 130 Harris Street was completed in 2018 adding 142 car spaces and an additional 2,447 square metres of office and retail floor space.

	Building type	A Grade - office
	Title	Freehold
	Site area (hectares)	0.8
	Lettable area ('000sqm)	26.8
	Lettable area adjusted for ownership ('000sqm)	26.8
	Typical floor area (sqm)	2,870-5,026
	Number of buildings	1
	Car parking spaces	142
	NABERS Energy rating (with Green Power)	NR
	NABERS Energy rating (without Green Power)	NR
	NABERS Water rating	NR
	Year built	circa 1890s/2017
	Major tenant	Domain
	Owner	DXS
	Ownership (%)	100
	Metro area	Sydney CBD
	Acquisition date	July 2017
	Book value at ownership ($m)	300.0
	Independent valuation date	June 2018
	Independent valuation at ownership ($m)	300.0
	Market cap rate (%)	5.38
	Initial yield (%)	4.67
	Leased by area (%)	92
	Weighted lease term by income (years)	7.0

==> picture [249 x 224] intentionally omitted <==

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

Australia Square Complex
264-278 George Street, Sydney
----- End of picture text -----

Australia Square merits its iconic status for its architectural and commercial heritage. Australia Square’s A-Grade services, open floor spaces, abundant natural light, impressive views of the city and Sydney Harbour are combined with a vibrant open-air plaza. Retail services include a choice of 17 different dining options, including O'Bar and Dining located on Level 47 and Ryan's Bar in the external plaza.

	Building type	A Grade - office
	Title	Freehold
	Site area (hectares)	0.6
	Lettable area ('000sqm)	53.5
	Lettable area adjusted for ownership ('000sqm)	26.7
	Typical floor area (sqm)	1,020
	Number of buildings	2
	Car parking spaces	385
	NABERS Energy rating (with Green Power)	ASQ Tower 5.0 / ASQ Plaza 5.5
	NABERS Energy rating (without Green Power)	ASQ Tower 4.5 / ASQ Plaza 5.5
	NABERS Water rating	ASQ Tower 3.5 / ASQ Plaza NR
	Year built	1964
	Major tenant	HWL Ebsworth
	Owner	DXS
	Ownership (%)	50
	Co-owner	General Property Trust
	Metro area	Sydney CBD
	Zoning	B8 Metropolitan Centre
	Acquisition date	August 2000
	Book value at ownership ($m)	545.0
	Independent valuation date	June 2018
	Independent valuation at ownership ($m)	545.0
	Market cap rate (%)	5.00
	Initial yield (%)	4.41
	Leased by area (%)	96
	Weighted lease term by income (years)	3.7

==> picture [249 x 224] intentionally omitted <==

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

Governor Phillip & Macquarie Tower Complex
1 Farrer Place, Sydney
----- End of picture text -----

Governor Phillip & Macquarie Tower complex is one of Sydney's leading Premium office buildings. 1 Farrer Place comprises two landmark towers with over 80,000 square metres of office space located in the heart of Sydney’s financial district, close to the NSW Parliament and Circular Quay transport hub. GPT has 37 levels of premium office space and GMT 25 levels, both offering unparalleled views over the Harbour, Botanic Gardens and the city.

==> picture [248 x 224] intentionally omitted <==

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

Grosvenor Place
225 George Street, Sydney
----- End of picture text -----

Recognised for its outstanding architectural merit and key location adjoining Circular Quay, Grosvenor Place is a landmark Premium office building in the northern sector of the Sydney CBD. Grosvenor Place provides 44 levels of office accommodation, with typical 2,000 square metres floor plates, ground floor retail plaza and car parking for 516 cars.

Building type Premium Grade - office Title Freehold Site area (hectares) 0.6 Lettable area ('000sqm) 84.9 Lettable area adjusted for ownership ('000sqm) 42.5 Typical floor area (sqm) 1,460 Number of buildings 3 Car parking spaces 654 NABERS Energy rating (with Green Power) GPT 4.5 / GMT 4.5 NABERS Energy rating (without Green Power) GPT 4.0 / GMT 4.0 NABERS Water rating GPT 3.5 / GMT 3.5 Year built 1993 Major tenant Kings Wood Mallesons Owner DXS Ownership (%) 50 Co-owner General Property Trust & Australian Prime Property Fund Metro area Sydney CBD Zoning B8 Metropolitan Centre Acquisition date December 1998 Book value at ownership ($m) 1,072.5 Independent valuation date June 2018 Independent valuation at ownership ($m) 1,072.5 Market cap rate (%) 4.76 Initial yield (%) 4.34 Leased by area (%) 99 Weighted lease term by income (years) 5.9	Building type Premium Grade - office
	Title Leasehold
	Site area (hectares) 0.8
	Lettable area ('000sqm) 84.0
	Lettable area adjusted for ownership ('000sqm) 31.5
	Typical floor area (sqm) 2,000
	Number of buildings 4
	Car parking spaces 516
	NABERS Energy rating (with Green Power) 4.5
	NABERS Energy rating (without Green Power) 4.5
	NABERS Water rating 3.0
	Year built 1988
	Major tenant Deloitte Services
	Owner DXS
	Ownership (%) 37.5
	Co-owner Investa, ARIA, Dexus Office Partner
	Metro area Sydney CBD
	Zoning Sydney Core Scheme
	Acquisition date February 2013
	Book value at ownership ($m) 678.8
	Independent valuation date June 2018
	Independent valuation at ownership ($m) 678.8
	Market cap rate (%) 4.88
	Initial yield (%) 5.44
	Leased by area (%) 100
	Weighted lease term by income (years) 4.9

Office Portfolio

Dexus 2018 Property Synopsis

Summary of properties continued

==> picture [249 x 223] intentionally omitted <==

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

MLC Centre
19 Martin Place, Sydney
----- End of picture text -----

Designed by Harry Seidler, the MLC tower has a unique façade, with elegantly contoured pre-cast concrete, white quartz and glass. The tower offers 67 levels of high quality office space. Positioned in the heart of Sydney’s financial and cultural districts, MLC Centre is bounded by three of Sydney CBD’s prime streets – Martin Place, Castlereagh Street and King Street, linking seamlessly to the public transport system.

==> picture [248 x 223] intentionally omitted <==

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

One Margaret Street, Sydney
----- End of picture text -----

One Margaret Street offers 18 levels of A-Grade office space with 1,000 square metres typical floor areas, superior finishes and views across the CBD, Barangaroo and Darling Harbour, and three levels of parking for 111 cars. An expansive foyer greets tenants and visitors while the splayed building orientation allows plenty of natural light to fill the building.

	Building type	A Grade - office
	Title	Freehold
	Site area (hectares)	0.8
	Lettable area ('000sqm)	77.7
	Lettable area adjusted for ownership ('000sqm)	19.4
	Typical floor area (sqm)	1,200
	Number of buildings	1
	Car parking spaces	308
	NABERS Energy rating (with Green Power)	5.5
	NABERS Energy rating (without Green Power)	4.5
	NABERS Water rating	2.5
	Year built	1978
	Major tenant	Sparke Helmore
	Owner	DXS
	Ownership (%)	25
	Co-owner	Dexus Wholesale Property Fund,
		General Property Trust
	Metro area	Sydney CBD
	Zoning	B8 Metropolitan Centre
	Acquisition date	July 2017
	Book value at ownership ($m)	372.3
	Independent valuation date	June 2018
	Independent valuation at ownership ($m)	372.3
	Market cap rate (%)	5.08
	Initial yield (%)	3.93
	Leased by area (%)	92
	Weighted lease term by income (years)	3.6

	Building type	A Grade - office
	Title	Freehold
	Site area (hectares)	0.2
	Lettable area ('000sqm)	20.9
	Lettable area adjusted for ownership ('000sqm)	20.9
	Typical floor area (sqm)	1,000
	Number of buildings	1
	Car parking spaces	111
	NABERS Energy rating (with Green Power)	5.5
	NABERS Energy rating (without Green Power)	5.0
	NABERS Water rating	3.5
	Year built	1984
	Major tenant	BDO Services
	Owner	DXS
	Ownership (%)	100
	Metro area	Sydney CBD
	Zoning	B8 Metropolitan Centre
	Acquisition date	December 1998
	Book value at ownership ($m)	326.0
	Independent valuation date	June 2018
	Independent valuation at ownership ($m)	326.0
	Market cap rate (%)	5.00
	Initial yield (%)	5.05
	Leased by area (%)	100
	Weighted lease term by income (years)	4.3

1 Bligh Street, Sydney

1 Bligh Street is one of Sydney’s most innovative, sustainable buildings offering an iconic, world class location and amenity. Completed in 2011, the building features a spectacular top floor terrace, curvilinear double-skin, glass facade with a striking, naturally ventilated full height atrium, concierge services, a licensed café, childcare centre and end-of-trip facilities.

==> picture [249 x 224] intentionally omitted <==

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

5 Martin Place, Sydney
----- End of picture text -----

5 Martin Place is a first class office building that marries the contemporary needs of businesses with the desire to celebrate and honour Sydney’s past. 5 Martin Place offers 19 levels of Premium office space with 1,100-2,400 square metres typical floor plates, while the upper floors benefit from a full-height glass façade that fills the workspaces with natural light and offer views over Martin Place and the CBD.

Building type Premium Grade - office Title Freehold Site area (hectares) 0.3 Lettable area ('000sqm) 43.1 Lettable area adjusted for ownership ('000sqm) 14.4 Typical floor area (sqm) 1,600 Number of buildings 1 Car parking spaces 97 NABERS Energy rating (with Green Power) 5.0 NABERS Energy rating (without Green Power) 5.0 NABERS Water rating 4.5 Green star rating 6.0 Star (Office Design v2) / 6.0 Star (Office As Built v2) Year built 2011 Major tenant Budage P/L Owner DXS Ownership (%) 33.33 Co-owner Dexus Wholesale Property Fund & Cbus Property Metro area Sydney CBD Zoning B8 Metropolitan Centre Acquisition date August 2000 Book value at ownership ($m) 350.0 Independent valuation date June 2018 Independent valuation at ownership ($m) 350.0 Market cap rate (%) 4.63 Initial yield (%) 5.25 Leased by area (%) 100 Weighted lease term by income (years) 8.2	Building type Premium Grade - office
	Title Freehold
	Site area (hectares) 0.3
	Lettable area ('000sqm) 33.3
	Lettable area adjusted for ownership ('000sqm) 8.3
	Typical floor area (sqm) 1,100-2,400
	Number of buildings 1
	Car parking spaces 10
	NABERS Energy rating (with Green Power) 5.0
	NABERS Energy rating (without Green Power) 5.0
	NABERS Water rating 3.5
	Green star rating 5.0 Star (Office Design v3) / 5.0 Star (Office As Built v3)
	Year built 1916/2015
	Major tenant Ashurst
	Owner DXS
	Ownership (%) 25
	Co-owner Dexus Office Partner, Cbus Property
	Metro area Sydney CBD
	Zoning B8 Metropolitan Centre
	Acquisition date April 2014
	Book value at ownership ($m) 175.0
	Independent valuation date June 2018
	Independent valuation at ownership ($m) 175.0
	Market cap rate (%) 4.75
	Initial yield (%) 4.65
	Leased by area (%) 100
	Weighted lease term by income (years) 7.5

Office Portfolio

Dexus 2018 Property Synopsis

Summary of properties continued

==> picture [249 x 224] intentionally omitted <==

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

14 Lee Street, Sydney
----- End of picture text -----

Conveniently located adjacent to Central Station at the southern end of Sydney’s CBD, 14-18 Lee Street provides eight levels of A-Grade office accommodation, a 90 space basement car park and retail on the ground floor. The building features generous floor plates of 2,000 square metres with large windows that maximise natural light.

==> picture [248 x 224] intentionally omitted <==

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

30 The Bond
30-34 Hickson Road, Sydney
----- End of picture text -----

30 The Bond is a contemporary nine level office tower located in Sydney's newest business, retail and dining precinct - Barangaroo. The A-Grade building offers some of the largest floor plates in Sydney providing the best in workspace efficiency, integration and interaction. The lobby features internal stairs, glass lifts, suspended meeting rooms with large break out spaces.

Building type A Grade - office Title Leasehold Site area (hectares) 0.4 Lettable area ('000sqm) 14.5 Lettable area adjusted for ownership ('000sqm) 7.3 Typical floor area (sqm) 2,000 Number of buildings 1 Car parking spaces 90 NABERS Energy rating (with Green Power) 5.5 NABERS Energy rating (without Green Power) 5.5 NABERS Water rating 4.5 Year built 1999 Major tenant State of NSW Owner DXS Ownership (%) 50 Co-owner Dexus Office Partner Metro area Sydney CBD Zoning B8 Metropolitan Centre Acquisition date April 2014 Book value at ownership ($m) 67.5 Independent valuation date June 2018 Independent valuation at ownership ($m) 67.5 Market cap rate (%) 5.63 Initial yield (%) 4.79 Leased by area (%) 99 Weighted lease term by income (years) 2.0	Building type A Grade - office
	Title Freehold
	Site area (hectares) 0.4
	Lettable area ('000sqm) 19.7
	Lettable area adjusted for ownership ('000sqm) 19.7
	Typical floor area (sqm) 2,000
	Number of buildings 1
	Car parking spaces 113
	NABERS Energy rating (with Green Power) 5.5
	NABERS Energy rating (without Green Power) 5.5
	NABERS Water rating 3.5
	Green star rating 5.0 Star (Office As Built v1)
	Year built 2004
	Major tenant WPP AUNZ
	Owner DXS
	Ownership (%) 100
	Metro area Sydney CBD
	Zoning B8 Metropolitan Centre
	Acquisition date May 2002
	Book value at ownership ($m) 314.0
	Independent valuation date June 2018
	Independent valuation at ownership ($m) 314.0
	Market cap rate (%) 5.25
	Initial yield (%) 4.97
	Leased by area (%) 100
	Weighted lease term by income (years) 5.2

==> picture [248 x 224] intentionally omitted <==

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

36 The Bond
36 Hickson Road, Sydney
----- End of picture text -----

36 The Bond is a unique asset with building one consisting of 5 levels and building two providing 3 levels including a mezzanine level and massive forecourt. Located opposite the planned Crown Casino development at Barangaroo, 36 Hickson Road occupies a world class location. With rear lane access to Kent Street, there are strong pedestrian connections linking back to The Rocks, Wynyard Station and Circular Quay and benefits from all the amenities of the CBD.

	Building type	Heritage
	Title	Freehold
	Lettable area ('000sqm)	1.1
	Lettable area adjusted for ownership ('000sqm)	1.1
	Typical floor area (sqm)	130-326
	Number of buildings	2
	Car parking spaces	20
	Year built	circa 1900's
	Major tenant	Enterprise Architects
	Owner	DXS
	Ownership (%)	100
	Metro area	Sydney CBD
	Zoning	B8 Metropolitan Centre
	Acquisition date	September 2016
	Book value at ownership ($m)	20.0
	Independent valuation date	June 2018
	Independent valuation at ownership ($m)	20.0
	Market cap rate (%)	5.13
	Initial yield (%)	4.54
	Leased by area (%)	100
	Weighted lease term by income (years)	4.5

==> picture [249 x 224] intentionally omitted <==

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

44 Market Street, Sydney
----- End of picture text -----

44 Market Street sits on a premium site in Sydney’s CBD on the doorstep of bustling entertainment and retail precincts. 44 Market Street offers 26 levels of A-Grade office space, offering flexible accommodation options ranging from small suites to entire floors and parking for 134 cars.

Building type	A Grade - office
Title	Freehold
Site area (hectares)	0.3
Lettable area ('000sqm)	30.9
Lettable area adjusted for ownership ('000sqm)	30.9
Typical floor area (sqm)	1,000
Number of buildings	1
Car parking spaces	134
NABERS Energy rating (with Green Power)	5.0
NABERS Energy rating (without Green Power)	5.0
NABERS Water rating	4.0
Year built	1978
Major tenant	Slater and Gordon
Owner	DXS
Ownership (%)	100
Metro area	Sydney CBD
Zoning	B8 Metropolitan Centre
Acquisition date	September 1987
Book value at ownership ($m)	398.0
Independent valuation date	June 2018
Independent valuation at ownership ($m)	398.0
Market cap rate (%)	5.25
Initial yield (%)	5.34
Leased by area (%)	98
Weighted lease term by income (years)	3.9

Office Portfolio

Dexus 2018 Property Synopsis

Summary of properties continued

==> picture [249 x 224] intentionally omitted <==

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

45 Clarence Street, Sydney
----- End of picture text -----

45 Clarence Street is a landmark office tower located in the western corridor of Sydney’s financial district. The 28 level A-Grade building provides flexible work space solutions for tenants and clever interior architecture maximises natural light from all four aspects. 45 Clarence Street also features a contemporary foyer, ground floor café and five basement levels of parking.

==> picture [248 x 224] intentionally omitted <==

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

56 Pitt Street, Sydney
----- End of picture text -----

56 Pitt Street is a sustainable office tower that occupies a significant site in Sydney’s past. 56 Pitt offers 26 levels of B-Grade office space with 800 square metres typical floor areas typified by natural light and with views across the CBD and Sydney Harbour. The workspaces are complemented by ground floor retail offerings and basement parking for 64 cars.

Building type A Grade - office Title Freehold Site area (hectares) 0.4 Lettable area ('000sqm) 32.0 Lettable area adjusted for ownership ('000sqm) 32.0 Typical floor area (sqm) 1,250 Number of buildings 1 Car parking spaces 169 NABERS Energy rating (with Green Power) 5.5 NABERS Energy rating (without Green Power) 5.0 NABERS Water rating 4.0 Year built 1990 Major tenant Qube Holdings Owner DXS Ownership (%) 100 Metro area Sydney CBD Zoning B8 Metropolitan Centre Acquisition date December 1998 Book value at ownership ($m) 467.0 Independent valuation date June 2018 Independent valuation at ownership ($m) 467.0 Market cap rate (%) 5.13 Initial yield (%) 5.09 Leased by area (%) 100 Weighted lease term by income (years) 3.8	Building type B Grade - office
	Title Freehold
	Site area (hectares) 0.2
	Lettable area ('000sqm) 20.0
	Lettable area adjusted for ownership ('000sqm) 10.0
	Typical floor area (sqm) 800
	Number of buildings 1
	Car parking spaces 64
	NABERS Energy rating (with Green Power) 5.0
	NABERS Energy rating (without Green Power) 5.0
	NABERS Water rating 4.0
	Year built 1967
	Major tenant National E-health Transition
	Owner DXS
	Ownership (%) 50
	Co-owner Dexus Office Partner
	Metro area Sydney CBD
	Zoning B8 Metropolitan Centre
	Acquisition date April 2014
	Book value at ownership ($m) 144.5
	Independent valuation date June 2018
	Independent valuation at ownership ($m) 144.5
	Market cap rate (%) 5.38
	Initial yield (%) 5.25
	Leased by area (%) 94
	Weighted lease term by income (years) 2.0

60 Castlereagh Street, Sydney

60 Castlereagh Street is one of Sydney’s premier retail and office buildings located at the heart of the city’s business and leisure centre. The building’s efficient central core provides flexible 360 degree floor plates, while the curved windows make the most of the sweeping views across Sydney Harbour from the top four floors.

==> picture [249 x 224] intentionally omitted <==

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

175 Pitt Street, Sydney
----- End of picture text -----

175 Pitt Street is a superior office building that delivers sustainable design and sought after amenities. 175 Pitt Street offers 22 levels of A-Grade office space with 1,050 square metres typical floor area, panoramic from the upper levels, high-end ground and lower ground retail including luxury brands, financial institutions and a gym, as well as basement parking for 52 cars.

Building type A Grade - office Title Freehold Site area (hectares) 0.2 Lettable area ('000sqm) 27.0 Lettable area adjusted for ownership ('000sqm) 13.5 Typical floor area (sqm) 1,200-1,300 Number of buildings 1 Car parking spaces 61 NABERS Energy rating (with Green Power) 5.0 NABERS Energy rating (without Green Power) 5.0 NABERS Water rating 3.5 Year built 1999 Major tenant BNP Paribas Owner DXS Ownership (%) 50 Co-owner Dexus Office Partner Metro area Sydney CBD Zoning B8 Metropolitan Centre Acquisition date April 2014 Book value at ownership ($m) 220.0 Independent valuation date June 2018 Independent valuation at ownership ($m) 220.0 Market cap rate (%) 5.13 Initial yield (%) 5.17 Leased by area (%) 100 Weighted lease term by income (years) 3.9	Building type A Grade - office
	Title Freehold
	Site area (hectares) 0.2
	Lettable area ('000sqm) 26.6
	Lettable area adjusted for ownership ('000sqm) 13.3
	Typical floor area (sqm) 1,050
	Number of buildings 1
	Car parking spaces 52
	NABERS Energy rating (with Green Power) 5.5
	NABERS Energy rating (without Green Power) 5.0
	NABERS Water rating 4.0
	Green star rating 4.0 Star (Office Design v2)
	Year built 1975
	Major tenant Tiffany & Co Australia
	Owner DXS
	Ownership (%) 50
	Co-owner Dexus Office Partner
	Metro area Sydney CBD
	Zoning B8 Metropolitan Centre
	Acquisition date April 2014
	Book value at ownership ($m) 244.0
	Independent valuation date June 2018
	Independent valuation at ownership ($m) 244.0
	Market cap rate (%) 5.01
	Initial yield (%) 4.04
	Leased by area (%) 97
	Weighted lease term by income (years) 5.7

Office Portfolio

Dexus 2018 Property Synopsis

Summary of properties continued

201-217 Elizabeth Street, Sydney

309-321 Kent Street, Sydney

201-217 Elizabeth Street perfectly marries convenience with breath-taking views across Sydney Harbour and Hyde Park. 201-217 Elizabeth offers 34 levels of A- Grade office spaces with 1,085 square metres typical floors. An innovative column-free space with floor to ceiling windows welcomes in invigorating sunlight while offering an enviable outlook across the Sydney CBD.

	Building type	A Grade - office
	Title	Freehold
	Site area (hectares)	0.4
	Car parking spaces	175
	NABERS Energy rating (with Green Power)	4.5
	NABERS Energy rating (without Green Power)	4.0
	NABERS Water rating	3.0
	Year built	1979
	Owner	DXS
	Ownership (%)	50
	Metro area	Sydney CBD
	Zoning	B8 Metropolitan Centre
	Acquisition date	August 2000

309-321 Kent Street is part of a two-tower complex situated on the doorstep of Sydney’s revered lifestyle precinct at Darling Harbour. 309-321 Kent offers 17 levels of A-Grade offices with column-free and flexible workspaces along a wide range of amenities including Dexus concierge services, ground floor retail plaza, childcare centre, three cafes, hotel-style end of trip facilities. Currently undergoing a minor redevelopment to add further quality retail offering as well as anew lobby and extension of the low rise floors at 309 Kent Street.

	Building type	A Grade - office
	Title	Freehold
	Site area (hectares)	0.6
	Lettable area ('000sqm)	47.6
	Lettable area adjusted for ownership ('000sqm)	23.8
	Typical floor area (sqm)	1,060
	Number of buildings	2
	Car parking spaces	497
	NABERS Energy rating (with Green Power)	309 Kent 5.0 / 321 Kent 5.0
	NABERS Energy rating (without Green Power)	309 Kent 5.0 / 321 Kent 5.0
	NABERS Water rating	309 Kent 4.0 / 321 Kent 3.0
	Year built	1976
	Major tenant	Insurance & Care NSW
	Owner	DXS
	Ownership (%)	50
	Co-owner	AMP
	Metro area	Sydney CBD
	Zoning	B8 Metropolitan Centre
	Acquisition date	December 1998
	Book value at ownership ($m)	337.5
	Independent valuation date	June 2018
	Independent valuation at ownership ($m)	337.5
	Market cap rate (%)	5.33
	Initial yield (%)	4.90
	Leased by area (%)	99
	Weighted lease term by income (years)	4.5

==> picture [248 x 224] intentionally omitted <==

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

383-395 Kent Street, Sydney
----- End of picture text -----

383-395 Kent Street stands proud in the heart of Sydney’s CBD between Town Hall and Wynyard train stations. 383-395 Kent offers 12 levels of A-Grade office space with 1,577 square metres typical refurbished floor plates, superior finishes, floor to ceiling windows to maximise natural light and expansive views across Darling Harbour and the CBD.

	Building type	A Grade - office
	Title	Freehold
	Site area (hectares)	0.4
	Lettable area ('000sqm)	18.0
	Lettable area adjusted for ownership ('000sqm)	18.0
	Typical floor area (sqm)	1,577
	Number of buildings	1
	Car parking spaces	853
	NABERS Energy rating (with Green Power)	5.0
	NABERS Energy rating (without Green Power)	5.0
	NABERS Water rating	4.0
	Year built	2002
	Major tenant	Wilson Parking
	Owner	DXS
	Ownership (%)	100
	Metro area	Sydney CBD
	Zoning	B8 Metropolitan Centre
	Acquisition date	September 1987
	Book value at ownership ($m)	354.0
	Independent valuation date	June 2018
	Independent valuation at ownership ($m)	354.0
	Market cap rate (%)	5.25
	Initial yield (%)	5.13
	Leased by area (%)	100
	Weighted lease term by income (years)	3.9

==> picture [249 x 224] intentionally omitted <==

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

Waterfront Place Complex
1 Eagle Street, Brisbane
----- End of picture text -----

Waterfront Place is a commercial complex comprising three adjacent buildings including a landmark 37-level Premium office tower, Eagle Street Pier and Naldham House. Adjoining the office tower is Eagle Street Pier, a two-level retail, food and beverage complex considered one of Brisbane's premier dining destinations.

Building type	Premium Grade - office
Title	Freehold
Lettable area ('000sqm)	67.1
Lettable area adjusted for ownership ('000sqm)	33.6
Typical floor area (sqm)	1,800
Number of buildings	3
Car parking spaces	475
NABERS Energy rating (with Green Power)	5.5
NABERS Energy rating (without Green Power)	5.5
NABERS Water rating	4.0
Year built	1990
Major tenant	Minter Ellison
Owner	DXS
Ownership (%)	50
Co-owner	Dexus Wholesale Property Fund
Metro area	Brisbane CBD
Acquisition date	October 2015
Book value at ownership ($m)	397.3
Independent valuation date	June 2018
Independent valuation at ownership ($m)	397.3
Market cap rate (%)	5.60
Initial yield (%)	6.10
Leased by area (%)	96
Weighted lease term by income (years)	4.6

Office Portfolio

Dexus 2018 Property Synopsis

Summary of properties continued

==> picture [249 x 224] intentionally omitted <==

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

10 Eagle Street, Brisbane
----- End of picture text -----

10 Eagle Street features sustainable design and functionality to create a sought-after building in the commercial heart of Brisbane. 10 Eagle offers 32 levels of A-Grade office space, flexible configurations and expansive views across the river and city. Premium amenities include Dexus concierge services, new end-of-trip facilities and onsite building management.

==> picture [248 x 224] intentionally omitted <==

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

12 Creek Street, Brisbane
----- End of picture text -----

12 Creek Street is one of Brisbane’s most striking office towers on the doorstep of the city’s dining and entertainment precincts. Known as Blue Tower, 12 Creek Street offers 32 levels of A-Grade office space with sweeping views across the Brisbane River and CBD, ground floor retail outlets and parking for 293 cars.

Building type A Grade - office Title Freehold Site area (hectares) 0.3 Lettable area ('000sqm) 27.8 Lettable area adjusted for ownership ('000sqm) 13.9 Typical floor area (sqm) 950 Number of buildings 1 Car parking spaces 190 NABERS Energy rating (with Green Power) 5.0 NABERS Energy rating (without Green Power) 5.0 NABERS Water rating 4.0 Year built 1978 Major tenant Wilson Parking Owner DXS Ownership (%) 50 Co-owner Dexus Office Partner Metro area Brisbane CBD Zoning MPI - City Centre Acquisition date April 2014 Book value at ownership ($m) 130.5 Independent valuation date June 2018 Independent valuation at ownership ($m) 130.5 Market cap rate (%) 5.75 Initial yield (%) 6.63 Leased by area (%) 98 Weighted lease term by income (years) 3.9	Building type A Grade - office
	Title Freehold
	Site area (hectares) 0.3
	Lettable area ('000sqm) 31.5
	Lettable area adjusted for ownership ('000sqm) 15.7
	Typical floor area (sqm) 1,050
	Number of buildings 2
	Car parking spaces 293
	NABERS Energy rating (with Green Power) 4.0
	NABERS Energy rating (without Green Power) 4.0
	NABERS Water rating 4.0
	Year built 1984
	Major tenant BDO Services
	Owner DXS
	Ownership (%) 50
	Co-owner Dexus Wholesale Property Fund
	Metro area Brisbane CBD
	Zoning MPI - City Centre
	Acquisition date October 2012
	Book value at ownership ($m) 164.2
	Independent valuation date June 2018
	Independent valuation at ownership ($m) 164.2
	Market cap rate (%) 5.76
	Initial yield (%) 6.04
	Leased by area (%) 88
	Weighted lease term by income (years) 3.8

123 Albert Street, Brisbane

145 Ann Street, Brisbane

123 Albert Street is Brisbane's first Premium tower to achieve a 6 Star Green Star rating and offers some of the largest column-free floor plates available in the city’s CBD. The 26 level contemporary glass and steel building commands a prominent corner location. The building features a spacious, futuristic ground floor lobby with lounge areas and five onsite food and coffee outlets.

145 Ann Street is a distinctive A-Grade commercial tower in a highly sought after location of Brisbane’s CBD near the historic King George Square, Queen Street Mall and the courts. The 27 level tower features an impressive double height reception with large, column-free floor plates enhanced by an abundance of natural light through low-sill windows.

Building type Premium Grade - office Title Freehold Site area (hectares) 0.4 Lettable area ('000sqm) 39.4 Lettable area adjusted for ownership ('000sqm) 39.4 Typical floor area (sqm) 1,550 Number of buildings 1 Car parking spaces 382 NABERS Energy rating (with Green Power) 5.5 NABERS Energy rating (without Green Power) 5.5 NABERS Water rating 4.0 Green star rating 6.0 Star (Office Design v2) / 6.0 Star (Office As Built v2) Year built 2011 Major tenant Rio Tinto Owner DXS Ownership (%) 100 Metro area Brisbane CBD Zoning MPI - City Centre Acquisition date October 1984 Book value at ownership ($m) 434.0 Independent valuation date June 2018 Independent valuation at ownership ($m) 434.0 Market cap rate (%) 5.50 Initial yield (%) 6.48 Leased by area (%) 99 Weighted lease term by income (years) 3.1	Building type A Grade - office
	Title Leasehold
	Site area (hectares) 0.3
	Lettable area ('000sqm) 28.1
	Lettable area adjusted for ownership ('000sqm) 14.0
	Typical floor area (sqm) 1,100
	Number of buildings 1
	Car parking spaces 103
	NABERS Energy rating (with Green Power) 6.0
	NABERS Energy rating (without Green Power) 5.5
	NABERS Water rating 4.0
	Green star rating 6.0 Star (Office Design v2) / 6.0 Star (Office As Built v2)
	Year built 2012
	Major tenant GHD Services
	Owner DXS
	Ownership (%) 50
	Co-owner Dexus Office Partner
	Metro area Brisbane CBD
	Zoning MPI - City Centre
	Acquisition date April 2014
	Book value at ownership ($m) 145.0
	Independent valuation date June 2018
	Independent valuation at ownership ($m) 145.0
	Market cap rate (%) 5.88
	Initial yield (%) 6.78
	Leased by area (%) 100
	Weighted lease term by income (years) 4.1

Office Portfolio

Dexus 2018 Property Synopsis

Summary of properties continued

480 Queen Street, Brisbane

480 Queen Street is one of the most prestigious office buildings in Brisbane’s Golden Triangle already home to a number of Australia’s leading financial, legal, accounting and resources firms. Activity based amenities within the building include a vibrant retail and dining destination, a nature based inbuilding parkland, and a spectacular rooftop hospitality area. 480 Queen Street is well connected to a wide range of public transport options and the Airport Link Tunnel.

	Building type	Premium Grade - office
	Title	Freehold
	Site area (hectares)	0.4
	Lettable area ('000sqm)	56.6
	Lettable area adjusted for ownership ('000sqm)	28.3
	Typical floor area (sqm)	1,731-2,849
	Number of buildings	1
	Car parking spaces	271
	NABERS Energy rating (with Green Power)	5.0
	NABERS Energy rating (without Green Power)	5.0
	NABERS Water rating	NR
	Green star rating	6.0 Star (Office Design v3) / 6.0
		Star (Office As Built v3)
	Year built	2016
	Major tenant	BHP
	Owner	DXS
	Ownership (%)	50
	Co-owner	Dexus Wholesale Property Fund
	Metro area	Brisbane CBD
	Zoning	MPI - City Centre
	Acquisition date	April 2013
	Book value at ownership ($m)	384.3
	Independent valuation date	June 2018
	Independent valuation at ownership ($m)	384.3
	Market cap rate (%)	5.13
	Initial yield (%)	4.92
	Leased by area (%)	100
	Weighted lease term by income (years)	7.8

==> picture [248 x 224] intentionally omitted <==

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

Flinders Gate Complex
Flinders Street, Melbourne
----- End of picture text -----

The Flinders Gate office complex currently comprises two boutique buildings and adjoins Melbourne's renowned Adelphi Hotel. The complex is currently undergoing a redevelopment which will span a circa 20,100 square metres of office space and retail amenity, including 12,100 square metres of A-Grade office space over the existing public carpark and the refurbishment of the existing buildings at 189 Flinders Lane (3,700 square metres) and 180 Flinders Street (3,700 square metres).

	Building type	B Grade - office
	Title	Freehold
	Site area (hectares)	0.4
	Lettable area ('000sqm)	19.9
	Lettable area adjusted for ownership ('000sqm)	19.9
	Typical floor area (sqm)	650
	Number of buildings	2
	NABERS Energy rating (with Green Power)	Exempt
	NABERS Energy rating (without Green Power)	Exempt
	NABERS Water rating	Exempt
	Year built	1920
	Major tenant	John Holland
	Owner	DXS
	Ownership (%)	100
	Metro area	Melbourne CBD
	Zoning	Capital City Zone (CCZ1)
	Acquisition date	March 1999
	Book value at ownership ($m)	114.2
	Independent valuation date	June 2018
	Independent valuation at ownership ($m)	114.2
	Market cap rate (%)	5.50
	Initial yield (%)	3.17
	Leased by area (%)	58
	Weighted lease term by income (years)	4.6

==> picture [248 x 224] intentionally omitted <==

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

8 Nicholson Street, Melbourne
----- End of picture text -----

8 Nicholson Street is a freestanding A-Grade 18-storey office tower situated on the eastern edge of the Melbourne CBD. 8 Nicholson Street has three levels of basement parking and is well connected by several tram routes, and train services with Parliament Station a short walk away. The area is also very well serviced by a range of convenience retail and food outlets.

	Building type	A Grade - office
	Title	Freehold
	Site area (hectares)	0.3
	Lettable area ('000sqm)	22.8
	Lettable area adjusted for ownership ('000sqm)	22.8
	Typical floor area (sqm)	1,650
	Number of buildings	1
	Car parking spaces	91
	NABERS Energy rating (with Green Power)	3.5
	NABERS Energy rating (without Green Power) NABERS Water rating	3.0 3.5
	Year built	1991
	Major tenant	State of Victoria
	Owner	DXS
	Ownership (%)	100
	Metro area	Melbourne CBD
	Zoning	Business 2 Zone 1 (B2Z)
	Acquisition date	November 1993
	Book value at ownership ($m)	177.5
	Independent valuation date	June 2018
	Independent valuation at ownership ($m)	177.5
	Market cap rate (%)	5.13
	Initial yield (%)	6.34
	Leased by area (%)	100
	Weighted lease term by income (years)	10.0

==> picture [249 x 224] intentionally omitted <==

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

180-222 Lonsdale Street,
Melbourne
----- End of picture text -----

180-222 Lonsdale Street comprises two A-Grade office towers offers 58,600 square metres of space, with 180 Lonsdale recently undergoing extensive refurbishment. In addition, the property offers a childcare, a gymnasium and a medical centre, and with QV shopping, there's immediate access to well over 110 retailers, major department stores, food outlets, restaurants.

Building type	A Grade - office
Title	Freehold
Site area (hectares)	1.8
Lettable area ('000sqm)	107.5
Lettable area adjusted for ownership ('000sqm)	27.9
Typical floor area (sqm)	1,800-3,900
Number of buildings	2
Car parking spaces	2997
NABERS Energy rating (with Green Power)	180 Lonsdale 4.5 / 222 Lonsdale
	5.0 / QV 2.0
NABERS Energy rating (without Green Power)	180 Lonsdale 4.5 / 222 Lonsdale
	4.5 / QV 2.0
NABERS Water rating	180 Lonsdale 4.5 / 222 Lonsdale
	4.5 / QV n/a
Year built	2003/2004
Major tenant	Telstra Corporation
Owner	DXS
Ownership (%)	25
Co-owner	Dexus Office Partner / Victoria
	Square
Metro area	Melbourne CBD
Zoning	Capital City Zone
Acquisition date	April 2014
Book value at ownership ($m)	237.5
Independent valuation date	June 2018
Independent valuation at ownership ($m)	237.5
Market cap rate (%)	5.35
Initial yield (%)	5.67
Leased by area (%)	98
Weighted lease term by income (years)	4.5

Office Portfolio

Dexus 2018 Property Synopsis

Summary of properties continued

385 Bourke Street, Melbourne

385 Bourke Street is located in the heart of Melbourne's CBD, opposite the GPO. The elevated corner position above Melbourne's well-known Galleria Retail Centre takes in 41 floors, providing businesses with a clear view of the city and its surrounds. With a vibrant retail and dining area within the Galleria Retail Centre below, the amenity of the location is outstanding.

	Building type	A Grade - office
	Title	Freehold
	Site area (hectares)	0.6
	Lettable area ('000sqm)	60.2
	Lettable area adjusted for ownership ('000sqm)	30.1
	Typical floor area (sqm)	1,300
	Number of buildings	1
	Car parking spaces	240
	NABERS Energy rating (with Green Power)	4.0
	NABERS Energy rating (without Green Power)	4.0
	NABERS Water rating	2.5
	Year built Major tenant	1983 UniSuper Management
	Owner	DXS
	Ownership (%)	50
	Co-owner	Dexus Office Partner
	Metro area	Melbourne CBD
	Zoning	Capital City Zone
	Acquisition date	April 2014
	Book value at ownership ($m)	312.0
	Independent valuation date	June 2018
	Independent valuation at ownership ($m)	312.0
	Market cap rate (%)	5.30
	Initial yield (%)	5.28
	Leased by area (%)	97
	Weighted lease term by income (years)	5.4

==> picture [248 x 224] intentionally omitted <==

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

Kings Square
Wellington Street, Perth
----- End of picture text -----

Kings Square comprises three A-Grade office buildings located in Perth’s emerging mixed-use precinct adjacent to the CBD. The buildings comprise Kings Square 1 (19 levels), Kings Square 2 (11 levels) and Kings Square 3 (9 levels) providing in excess of 50,000 square metres combined office and retail space and extensive end-of-trip facilities including hundreds of bicycle racks, lockers and fully-equipped shower and change facilities, as well as a large onsite childcare service.

	Building type	A Grade - office
	Title	Freehold
	Site area (hectares)	0.6
	Lettable area ('000sqm)	52.3
	Lettable area adjusted for ownership ('000sqm)	26.2
	Typical floor area (sqm)	1,400
	Number of buildings	3
	Car parking spaces	155
	NABERS Energy rating (with Green Power)	KS1 NR / KS2 5.5 / KS3 NR
	NABERS Energy rating (without Green Power)	KS1 NR / KS2 5.5 / KS3 NR
	NABERS Water rating	KS1 NR / KS2 NR / KS3 NR
	Green star rating	KS1 5.0 Star (Office As Built v3) /
		KS2 5.0 Star (Office As Built v3) /
		KS3 5.0 Star (Office Design v3)
	Year built	2015
	Major tenant	Shell
	Owner	DXS
	Ownership (%)	50
	Co-owner	Dexus Wholesale Property Fund
	Metro area	Perth CBD
	Zoning	City Centre
	Acquisition date	May 2013
	Book value at ownership ($m)	216.0
	Independent valuation date	June 2018
	Independent valuation at ownership ($m)	216.0
	Market cap rate (%)	6.79
	Initial yield (%)	8.73
	Leased by area (%)	100
	Weighted lease term by income (years)	6.6

==> picture [248 x 224] intentionally omitted <==

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

58 Mounts Bay Road, Perth
----- End of picture text -----

58 Mounts Bay Road, also known as Alluvion, is a contemporary A-Grade office building located in the central forefront of the Perth CBD with dual access on S+G59t George Terrace. The 20 level tower features an impressive triple height marble clad ground floor lobby with a plaza café on the external landscaped terrace.

Building type	A Grade - office
Title	Freehold
Site area (hectares)	0.3
Lettable area ('000sqm)	22.4
Lettable area adjusted for ownership ('000sqm)	5.6
Typical floor area (sqm)	1,570
Number of buildings	1
Car parking spaces	96
NABERS Energy rating (with Green Power)	5.0
NABERS Energy rating (without Green Power)	5.0
NABERS Water rating	4.0
Green star rating	4.0 Star (Office Design v2)
Year built	2010
Major tenant	Clough Projects
Owner	DXS
Ownership (%)	25
Co-owner	Dexus Office Partner / Cape
	Bouvard Investments Pty Ltd
Metro area	Perth CBD
Zoning	City Centre
Acquisition date	April 2014
Book value at ownership ($m)	53.8
Independent valuation date	June 2018
Independent valuation at ownership ($m)	53.8
Market cap rate (%)	6.75
Initial yield (%)	8.99
Leased by area (%)	97
Weighted lease term by income (years)	3.8

240 St. Georges Terrace, Perth

240 St. Georges Terrace is a modern Premium office tower located in the prestigious western-end of the Perth CBD. The 24 level office tower is highly specified and provides large, efficient floor plates. The low-sill windows maximise natural light and feature views over Kings Park, the Swan River and the Indian Ocean to Rottnest Island.

Building type			Premium Grade - office
Title			Freehold
Site area (hectares)			0.6
Lettable area ('000sqm)			46.9
Lettable area adjusted for ownership ('000sqm)			46.9
Typical floor area (sqm)			2,000
Number of buildings			1
Car parking spaces			247
NABERS Energy rating (with Green Power)			5.0
NABERS Energy rating (without Green Power)			5.0
NABERS Water rating			3.0
Year built			2003
Major tenant			Woodside Energy
Owner			DXS
Ownership (%)			100
Metro area			Perth CBD
Zoning			Central City Area
Acquisition date			January 2001
Book value at ownership ($m)			320.0
Independent valuation date			June 2018
I d d t l ti t hi n epen en va ua on a owners p		($ ) m	320 0 .
Market cap rate (%)			6.75
Initial yield (%)			6.99
Leased by area (%)			88
Weighted lease term by	income (years)		4.1

Office Portfolio

Dexus 2018 Property Synopsis

Summary of properties continued

32-44 Flinders Street, Melbourne

The car park at 32 Flinders Street is located at the gateway to Melbourne’s city centre with dual access via Flinders Street and Flinders Lane. The parking is ideally located for major sporting events at Melbourne Park, the Rod Laver Arena and Melbourne Cricket Ground, and visitors to the green spaces of Treasury Gardens and Birrarung Marr Park.

==> picture [248 x 224] intentionally omitted <==

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

34-60 Little Collins Street,
Melbourne
----- End of picture text -----

The freestanding car park on Little Collins Street is in a prime central Melbourne location with dual access from the city’s main retail precincts of Bourke and Little Collins Streets. Currently operated by Wilson’s Parking, the facility has 1.9 metre height access with capacity for 940 cars and is open 24/7 with long and short stay options.

	Building type	Carpark
	Title	Freehold
	Year built	1998
	Owner	DXS
	Ownership (%)	100
	Metro area	Melbourne CBD
	Zoning	Capital City Zone 1
	Acquisition date	June 1998

	Building type	Carpark
	Title	Leasehold
	Lettable area ('000sqm)	0.1
	Lettable area adjusted for ownership ('000sqm)	0.1
	Number of buildings	1
	Car parking spaces	940
	Year built	1965
	Major tenant	Wilson Parking
	Owner	DXS
	Ownership (%)	100
	Metro area	Melbourne CBD
	Zoning	Capital City Zone
	Acquisition date	November 1984
	Book value at ownership ($m)	22.5
	Independent valuation date	January 0001
	Independent valuation at ownership ($m)	22.5
	Market cap rate (%)	10.16
	Initial yield (%)	12.14
	Leased by area (%)	100
	Weighted lease term by income (years)	1.4

==> picture [596 x 842] intentionally omitted <==

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

35
Office Portfolio
----- End of picture text -----

Industrial Portfolio

Dexus 2018 Property Synopsis

Industrial Portfolio

Dexus is one of Australia’s leading industrial owners and developers with one of the largest industrial portfolios in Australia. Our strategy is to invest in, develop and actively manage high specification, modern and functional facilities in key metropolitan markets that deliver superior property solutions for our customers.

==> picture [117 x 432] intentionally omitted <==

Key metrics	FY18	FY17	FY16	FY15	FY14
Portfolio value ($bn)	2.2	2.0	1.8	1.7	1.4
Total properties	57	54	55	53	50
Gross lettable area (sqm)	1,322,557	1,284,712	1,284,554	1,294,735	1,254,585
Like-for-like income growth (%)	3.0	3.6	(7.1)	0.7	1.5
Occupancy by income (%)	98.3	96.5	90.4	92.4	93.0
Occupancy by area (%)	98.8	96.6	89.3	91.7	93.1
Portfolio WALE by income (years)	4.8	5.1	4.1	4.0	4.0
Tenant retention (%)	48	74	32	53	41
Weighted average capitalisation rate (%)	6.40	6.88	7.38	7.77	8.32
1 year total return (%)	13.6	12.6	16.0	11.3	9.0

==> picture [354 x 432] intentionally omitted <==

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

Brisbane
Adelaide Sydney
Melbourne
----- End of picture text -----

Brisbane

Sydney

35 properties 5 properties 600,855sqm 66,125sqm 45% area 5% area $1,158m $91m 59% value 5% value

Melbourne

Adelaide

16 properties 1 property 581,563sqm 74,014sqm 44% area 6% area $696m $28m value 35% value 1% value

Industrial Portfolio

Dexus 2018 Property Synopsis

As an owner and manager of quality industrial property for the long term, we adopt a customer centric approach to property management, forming relationships long before our customers move in.”

==> picture [504 x 342] intentionally omitted <==

Property type by book value

==> picture [159 x 145] intentionally omitted <==

Industrial Estate 44% Business Park 29% Distribution Centre 20% Data Centre 4% Land 3%

Geographical weighting by book value

==> picture [165 x 146] intentionally omitted <==

NSW 59% Victoria 35% Queensland 5% South Australia 1%

Diversity of tenants by income

==> picture [164 x 148] intentionally omitted <==

Warehousing and Food and beverage storage services manufacturing 0.9% 17.4% 5.2% Food Retailing General wholesaling Pharmaceutical 0.9% 12.4% wholesaling 3.6% Accommodation and food services Transport support Postal and courier 0.8% services pick-up and delivery 8.5% services State Government 2.8% 0.6% Other manufacturing 8.2% Healthcare and Electricity, gas, water social assistance and waste service Retailing (non-food) 2.4% 0.5% 8.0% Scientific and Banks & building societies Technical Services 0.5% Information 2.3% media and telecommunications Business Services Legal services 0.3% 6.5% Other 1.9% Not-for-profit Road, rail, water, air Engineering 0.3% and space transport 6.4% Consultancy Services 1.2% Other public administration 0.3% Construction services Education and 5.5% training Other 1.1% 1.7%

Industrial Portfolio

Dexus 2018 Property Synopsis

Industrial lease expiry profile

Dexus industrial portfolio

==> picture [16 x 7] intentionally omitted <==

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

20%
----- End of picture text -----

==> picture [486 x 232] intentionally omitted <==

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

Income Area
17.2 [%]
15.9 [%]
15% 14.2 [%]
13.7 [%]
12.8 [%]
11.4 [%]
10.2 [%]
10%
8.3 [%] 8.6 [%]
7.8 [%]
5%
1.7 [%] 1.2%
0%
Available FY19 FY20 FY21 FY22 FY23
Sydney
25%
Income Area
----- End of picture text -----

Sydney

==> picture [15 x 7] intentionally omitted <==

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

25%
----- End of picture text -----

==> picture [487 x 154] intentionally omitted <==

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

20.5 [%]
20%
17.7 [%]
15%
13.1 [%] [13.6] [%]
12.0 [%] [13.0][%]
10%
8.1 [%]
6.1 [%] 6.4 [%]
5.0 [%]
5%
1.7 [%] 1.4 [%]
0%
Available FY19 FY20 FY21 FY22 FY23
----- End of picture text -----

Sustainability highlights

Dexus continues to embed sustainability practices within industrial estate master planning for new developments and through targeted technology and controls upgrades. Master planning initiatives aim to reduce water and energy use including the use of solar hot water, rainwater harvesting for irrigation and toilets use, and native landscaping.

Industrial developments are designed to align with the Green Star rating system, equivalent to a minimum 4 stars and are formally certified in collaboration with Tenant requirements. Dexus also engages with tenants on new developments to discuss the potential for on-site electricity generation via roof-mounted photovoltaic systems, and is increasing roof structural capacity to be capable of supporting solar arrays now or in the future.

Energy intensity

53.9[%]

Water intensity

8.4[%]

GHG emissions 63.7[%]

==> picture [37 x 6] intentionally omitted <==

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

Since 2008.
----- End of picture text -----*

Brisbane

==> picture [489 x 403] intentionally omitted <==

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

35% 33.3 [%]
Income Area
30%
25.3 [%]
25%
20%
16.6 [%][ 16.8][%]
15%
10%
8.3 [%]
6.0 [%]
5%
0.5 [%] 0.3 [%] 0.0 [%] 0.0 [%] 0.0 [%] 0.0 [%]
0%
Available FY19 FY20 FY21 FY22 FY23
Melbourne Income Area
30% 28.7 [%]
25%
21.9 [%]
20%
16.5 [%]
15%
11.5 [%]
10% 8.7 [%]
8.0 [%] 7.4 [%] 7.4 [%]
5.5 [%]
5%
3.7 [%]
1.7 [%]
0.7 [%]
0%
Available FY19 FY20 FY21 FY22 FY23
----- End of picture text -----

Adelaide

==> picture [488 x 176] intentionally omitted <==

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

70%
64.4 [%] Income Area
59.1 [%]
60%
50%
40%
30%
21.0 [%][25.2][%]
20%
10%
3.6 [%] [4.5][%] 4.3 [%] [5.0][%] 6.8 [%] 6.2 [%]
0.0 [%] 0.0 [%]
0%
Available FY19 FY20 FY21 FY22 FY23
----- End of picture text -----

Industrial Portfolio

Dexus 2018 Property Synopsis

Summary of properties

				Ownership
Property address	State	Metro area	Building type	%
The Mill,41-43 Bourke Road,Alexandria	NSW	SydneySouth	Business Park	100
52 Holbeche Road,Arndell Park	NSW	Sydney,Outer West	Distribution Centre	100
3 Brookhollow Avenue,Baulkham Hills	NSW	Sydney,Outer West	Data Centre	100
1 Garigal Road,Belrose	NSW	Sydney,North	Business Park	100
Lakes Business Park,2-12 Lord Street,Botany	NSW	Sydney,South	Business Park	100
2 Alspec Place,Eastern Creek	NSW	Sydney,Outer West	Distribution Centre	100
145-151 Arthur Street,Flemington	NSW	Sydney,Inner West	Business Park	100
436-484 Victoria Road,Gladesville	NSW	Sydney,North	Business Park	100
1 Foundation Place,Greystanes	NSW	Sydney,Outer West	Industrial Estate	100
QuarryIndustrial Estate,1 Basalt Road,Greystanes	NSW	Sydney,Outer West	Industrial Estate	50
QuarryIndustrial Estate,2-6 Basalt Road,Greystanes	NSW	Sydney,Outer West	Industrial Estate	50
QuarryIndustrial Estate,3 Basalt Road,Greystanes	NSW	Sydney,Outer West	Industrial Estate	50
QuarryIndustrial Estate,5 Basalt Road,Greystanes	NSW	Sydney,Outer West	Industrial Estate	50
QuarryIndustrial Estate,8 Basalt Road,Greystanes	NSW	Sydney,Outer West	Industrial Estate	50
QuarryIndustrial Estate,1 Bellevue Circuit,Greystanes	NSW	Sydney,Outer West	Industrial Estate	50
QuarryIndustrial Estate,2 Bellevue Circuit,Greystanes	NSW	Sydney,Outer West	Industrial Estate	50
QuarryIndustrial Estate,4 Bellevue Circuit,Greystanes	NSW	Sydney,Outer West	Industrial Estate	100
QuarryIndustrial Estate,5 Bellevue Circuit,Greystanes	NSW	Sydney,Outer West	Industrial Estate	50
QuarryIndustrial Estate,6 Bellevue Circuit,Greystanes	NSW	Sydney,Outer West	Industrial Estate	50
QuarryIndustrial Estate,1 Turnbull Close,Greystanes	NSW	Sydney,Outer West	Industrial Estate	50
QuarryIndustrial Estate,2 Turnbull Close,Greystanes	NSW	Sydney,Outer West	Industrial Estate	50
QuarryIndustrial Estate,4 Turnbull Close,Greystanes	NSW	Sydney,Outer West	Industrial Estate	50
QuarryIndustrial Estate,1 Litton Close,Greystanes	NSW	Sydney,Outer West	Industrial Estate	100
Quarrywest,2A Basalt Road & 1 CharleyClose,Greystanes	NSW	Sydney,Outer West	Industrial Estate	50
QuarryWest,1-3 Dolerite Way,Greystanes	NSW	Sydney,Outer West	Industrial Estate	50
QuarryWest,2-6 Dolerite Way,Greystanes	NSW	Sydney,Outer West	Industrial Estate	50
Quarrywest,5 Dolerite Way,Greystanes	NSW	Sydney,Outer West	Industrial Estate	50
QuarryWest,7 Dolerite Way,Greystanes	NSW	Sydney,Outer West	Industrial Estate	50
QuarryWest,9 Dolerite Way,Greystanes	NSW	Sydney,Outer West	Industrial Estate	50
27-29 LibertyRoad,Huntingwood	NSW	Sydney,Outer West	Distribution Centre	100
Kings Park Industrial Estate,Vardys Road,Marayong	NSW	Sydney,Outer West	Industrial Estate	100
2-4 MilitaryRoad,Matraville	NSW	Sydney,South	Industrial Estate	100
Centrewest Industrial Estate,Silverwater Road,Silverwater	NSW	Sydney,Inner West	Industrial Estate	100
Dexus Industrial Estate,Egerton Street,Silverwater	NSW	Sydney,Inner West	Industrial Estate	100
12 Frederick Street,St Leonards	NSW	Sydney,North	Industrial Estate	100
50 & 70 Radius Drive Larapinta	QLD	Brisbane,South	Industrial Estate	50
141 Anton Road,Hemmant	QLD	Brisbane	Land	50
30 Bellrick Street,Acacia Ridge	QLD	Brisbane	Distribution Centre	100
131 Mica Street,Carole Park	QLD	Brisbane	Distribution Centre	100
112 Cullen Avenue,Eagle Farm	QLD	Brisbane	Industrial Estate	50

Lettable area								AIFRS NOI
adjusted for		Book value	Independent	Independent		Leased	WALE by	12 mths to
ownership	Acquisition	30 June 2018	valuation	valuation	Cap rate	by area	income	30 June 18
‘000sqm	date	$m	date	$m	%	%	(years)	$m
17.7	Nov-16	127.8	Jun-18	127.8	5.75	100	6.4	6.6
9.6	Jul-98	17.0	Jun-18	17.0	6.50	100	2.3	1.0
13.4	Dec-02	74.7	Jun-18	74.5	5.60	100	5.3	4.2
12.9	Dec-98	32.8	Jun-18	32.8	6.75	100	5.5	1.6
29.3	Jan-15	137.0	Jun-18	137.0	5.75	90	3.2	7.0
16.9	Mar-04	32.3	Jun-18	32.3	6.25	100	2.3	1.9
19.2	Sep-97	37.5	Jun-18	37.5	6.50	100	3.7	2.6
-	Sep-97	-	-	-	-	-	-	0.0
30.8	Feb-03	58.0	Jun-18	58.0	6.25	100	2.5	3.8
9.7	Dec-07	19.1	Jun-18	19.1	6.00	100	2.2	1.2
11.7	Dec-07	25.1	Jun-18	25.1	6.00	100	3.7	2.3
9.1	Dec-07	18.6	Jun-18	18.6	6.00	65	1.7	1.1
2.7	Dec-07	6.1	Jun-18	6.1	5.75	100	1.5	0.4
9.3	Dec-07	18.3	Jun-18	18.3	6.00	100	2.2	1.2
8.9	Dec-07	22.8	Jun-18	22.8	5.50	100	10.5	1.3
6.7	Dec-07	15.7	Jun-18	15.7	5.75	100	4.5	1.0
1.9	Dec-07	6.3	Jun-18	6.3	5.75	100	7.3	0.3
8.6	Dec-07	23.1	Jun-18	23.1	5.75	100	7.7	1.5
8.5	Dec-07	30.9	Jun-18	30.9	5.75	100	8.3	1.9
0.9	Dec-07	2.4	Jun-18	2.4	5.50	100	12.3	0.1
3.1	Dec-07	8.1	Jun-18	8.1	5.50	100	12.3	0.4
5.1	Dec-07	12.3	Jun-18	12.3	5.50	100	10.5	0.7
20.8	Dec-07	43.6	Jun-18	43.6	5.75	100	8.0	2.4
18.1	Jun-14	47.8	Jun-18	47.8	5.75	100	7.4	2.7
4.0	Jun-17	10.2	Jun-18	10.2	5.75	100	9.2	0.1
16.9	Jun-18	13.9	Jun-18	13.9	6.25	41	4.8	0.0
5.1	Jun-14	12.0	Jun-18	12.0	5.75	100	5.7	0.6
13.6	Jun-17	30.4	Jun-18	30.4	5.50	100	10.0	0.0
3.4	Jun-17	7.5	Jun-18	7.5	5.75	100	4.5	0.2
6.8	Jul-98	9.5	Jun-18	9.5	6.50	100	1.3	0.7
69.0	May-90	109.0	Jun-18	109.0	6.75	100	3.0	7.0
30.2	Dec-09	82.0	Jun-18	82.0	5.50	100	5.1	4.3
14.3	May-10	27.3	Jun-18	27.3	6.75	100	3.4	1.8
17.3	May-97	39.8	Jun-18	39.8	6.22	100	3.7	2.4
-	Jul-00	-	-	-	-	-	-	-
11.6	Aug-14	18.1	Jun-18	18.1	6.50	100	5.3	0.2
-	Dec-14	15.0	Jun-18	15.0	-	-	-	0.0
17.7	Jun-97	18.5	Jun-18	18.5	8.00	100	2.3	0.7
13.3	Jan-13	26.7	Jun-18	26.7	6.25	100	9.5	1.8
6.0	Mar-15	12.5	Jun-18	12.5	7.00	98	4.1	0.8

Industrial Portfolio

Dexus 2018 Property Synopsis

Summary of properties

				Ownership
Property address	State	Metro area	Building type	%
15-23 Whicker Road,Gillman	SA	Adelaide	Distribution Centre	100
90 Mills Road,Braeside	VIC	Melbourne,South East	Distribution Centre	100
114 Fairbank Road,Clayton	VIC	Melbourne,South East	Distribution Centre	100
Dexus Industrial Estate,Pound Road West,DandenongSouth	VIC	Melbourne,South East	Industrial Estate	100
Knoxfeld Industrial Estate,Henderson Road,Knoxfeld	VIC	Melbourne,South East	Distribution Centre	100
250 Forest Road South,Lara	VIC	Melbourne,South West	Distribution Centre	100
Dexus Industrial Estate,BoundaryRoad,Laverton North	VIC	Melbourne,West	Land	100
Dexus Industrial Estate,1 Foundation Road,Laverton North	VIC	Melbourne,West	Industrial Estate	50
Dexus Industrial Estate,1-3 Distribution Drive,Laverton North	VIC	Melbourne,West	Industrial Estate	50
Dexus Industrial Estate,2-10 Distribution Drive,Laverton North	VIC	Melbourne,West	Industrial Estate	50
Dexus Industrial Estate,7-9 Distribution Drive,Laverton North	VIC	Melbourne,West	Industrial Estate	50
Dexus Industrial Estate,11-17 Distribution Drive,Laverton North	VIC	Melbourne,West	Distribution Centre	50
Dexus Industrial Estate,12-18 Distribution Drive,Laverton North	VIC	Melbourne,West	Distribution Centre	50
Dexus Industrial Estate,25 Distribution Drive,Laverton North	VIC	Melbourne,West	Industrial Estate	100
Dexus Industrial Estate,27 Distribution Drive,Laverton North	VIC	Melbourne,West	Industrial Estate	50
Dexus Industrial Estate,28 Distribution Drive,Laverton North	VIC	Melbourne,West	Industrial Estate	50
Axxess Corporate Park, Corner Ferntree Gully &
GilbyRoads,Mount Waverley	VIC	Melbourne,South East	Business Park	100

==> picture [596 x 450] intentionally omitted <==

Lettable area									AIFRS NOI
adjusted for		Book value		Independent	Independent		Leased	WALE by	12 mths to
ownership	Acquisition	30 June 2018		valuation	valuation	Cap rate	by area	income	30 June 18
‘000sqm	date		$m	date	$m	%	%	(years)	$m
74.0	Dec-02		27.5	Jun-18	27.5	11.00	95	1.4	2.7
40.6	Jul-17		52.0	Jun-18	52.0	6.00	100	11.3	2.8
18.6	Jul-97		15.8	Jun-18	15.8	8.00	100	1.3	1.5
78.7	Jan-04		91.8	Jun-18	91.9	6.63	100	5.8	3.4
53.0	Aug-96		59.5	Jun-18	59.5	6.00	100	7.6	2.3
117.3	Dec-02		59.0	Jun-18	59.0	8.25	100	5.0	5.5
-	Jul-02		44.0	-	-	-	-	-	0.0
10.1	Jul-02		12.2	Jun-18	12.2	6.00	100	7.5	0.6
6.5	Jul-02		8.1	Jun-18	8.1	6.00	100	9.1	0.3
8.7	Jul-02		10.2	Jun-18	10.2	5.75	100	9.1	0.4
3.9	Jul-02		4.4	Jun-18	4.4	6.75	100	3.9	0.2
22.7	Jul-02		24.5	Jun-18	24.5	6.00	100	5.5	1.0
21.5	Jul-02		59.0	Jun-18	59.0	7.25	100	3.8	5.2
15.7	Jul-02		10.3	Jun-18	11.0	5.75	100	9.4	1.0
6.9	Jul-02		7.2	Jun-18	7.2	6.50	100	1.6	0.4
5.9	Jul-02		6.5	Jun-18	6.5	6.50	100	2.3	0.3
85.0	Oct-96		231.9	Jun-18	231.9	6.84	96	2.4	13.5

==> picture [596 x 450] intentionally omitted <==

Industrial Portfolio

Dexus 2018 Property Synopsis

Summary of properties continued

==> picture [36 x 9] intentionally omitted <==

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

The Mill
----- End of picture text -----

==> picture [219 x 14] intentionally omitted <==

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

41-43 Bourke Road, Alexandria
----- End of picture text -----

The Mill comprises a mix of ten modern and refurbished historic buildings, providing 17,700 square metres of warehouse style office, retail spaces and car parking. The Mill is located on the corner of Bourke Road and Huntley Street in Alexandria, 15 minutes from the Sydney CBD, 10 minutes from Sydney Airport and one kilometre from Green Square railway station.

==> picture [248 x 224] intentionally omitted <==

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

52 Holbeche Road, Arndell Park
----- End of picture text -----

52 Holbeche Road is a modern distribution centre with modern reception facilities located in Arndell Park, an established industrial suburb positioned on the Great Western Highway between Blacktown and Mount Druitt along the M4 corridor west of Sydney. The facility features covered loading docks and car parking for 54 vehicles.

Building type Business Park Title Freehold Site area (hectares) 1.9 Lettable area ('000sqm) 17.7 Lettable area adjusted for ownership ('000sqm) 17.7 Number of buildings 12 Car parking spaces 234 Year built 1823 Major tenant Silverneedle Owner DXS Ownership (%) 100 Metro area Sydney South Zoning B6 Enterprise Corridor Number of units 10 Office content (%) 92 Acquisition date November 2016 Book value at ownership ($m) 127.8 Independent valuation date June 2018 Independent valuation at ownership ($m) 127.8 Market cap rate (%) 5.75 Initial yield (%) 5.17 Leased by area (%) 100 Weighted lease term by income (years) 6.4	Building type Distribution Centre
	Title Freehold
	Site area (hectares) 1.9
	Lettable area ('000sqm) 9.6
	Lettable area adjusted for ownership ('000sqm) 9.6
	Number of buildings 1
	Car parking spaces 54
	Year built 1995
	Major tenant DHL
	Owner DXS
	Ownership (%) 100
	Metro area Sydney, Outer West
	Zoning 4(a) General Industrial
	Site coverage (%) 51
	Number of units 1
	Average unit size 9.6
	Office content (%) 6
	Acquisition date July 1998
	Book value at ownership ($m) 17.0
	Independent valuation date June 2018
	Independent valuation at ownership ($m) 17.0
	Market cap rate (%) 6.50
	Initial yield (%) 6.77
	Leased by area (%) 100
	Weighted lease term by income (years) 2.3

==> picture [248 x 224] intentionally omitted <==

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

3 Brookhollow Avenue,
Baulkham Hills
----- End of picture text -----

This asset is located within the Norwest Business Park which is a leading technology and business park providing campus style office, high-technology and manufacturing-production facilities. Its located in close proximity to the M7 motorway with extensive frontage to both Norwest Boulevard and Brookhollow Avenue.

==> picture [249 x 224] intentionally omitted <==

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

1 Garigal Road, Belrose
----- End of picture text -----

1 Garigal Road, Belrose is a high-profile high tech industrial facility that presents an excellent opportunity for corporate headquarters within the north-west of Sydney. 1 Garigal Road offers ample natural light, a large refurbished floor plate, National Park views and parking for 299 cars.

Building type Data Centre Title Freehold Site area (hectares) 5.2 Lettable area ('000sqm) 13.4 Lettable area adjusted for ownership ('000sqm) 13.4 Number of buildings 1 Car parking spaces 163 Year built 1995 Major tenant IBM Australia Owner DXS Ownership (%) 100 Metro area Sydney, Outer West Zoning Employment area 10(a) Site coverage (%) 26 Number of units 1 Average unit size 13.4 Office content (%) 10 Acquisition date December 2002 Book value at ownership ($m) 74.7 Independent valuation date June 2018 Independent valuation at ownership ($m) 74.5 Market cap rate (%) 5.60 Initial yield (%) 6.05 Leased by area (%) 100 Weighted lease term by income (years) 5.3	Building type Business Park
	Title Freehold
	Site area (hectares) 2.6
	Lettable area ('000sqm) 12.9
	Lettable area adjusted for ownership ('000sqm) 12.9
	Number of buildings 1
	Car parking spaces 299
	Year built 1992
	Major tenant Device Technologies Australia
	Owner DXS
	Ownership (%) 100
	Metro area Sydney, North
	Zoning B7 Business Park
	Site coverage (%) 47
	Number of units 2
	Average unit size 6.2
	Office content (%) 47
	Acquisition date December 1998
	Book value at ownership ($m) 32.8
	Independent valuation date June 2018
	Independent valuation at ownership ($m) 32.8
	Market cap rate (%) 6.75
	Initial yield (%) 6.88
	Leased by area (%) 100
	Weighted lease term by income (years) 5.5

Industrial Portfolio

Dexus 2018 Property Synopsis

Summary of properties continued

==> picture [249 x 224] intentionally omitted <==

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

Lakes Business Park
2-12 Lord Street, Botany
----- End of picture text -----

Lakes Business Park is a premier corporate park in Sydney’s south-east providing efficient, high quality office and warehouse accommodation across five free standing buildings, 640 car spaces and an onsite cafe. The property comprises two adjoining sites - the Northern site is being actively managed and the Southern site was acquired as part of inventory for future trading opportunity.

2 Alspec Place, Eastern Creek

2 Alspec Place is a contemporary warehouse and distribution facility located in Eastern Creek, a premier industrial logistics precinct in the Sydney metropolitan area, some 10 kilometres from the regional centre of Blacktown. The site has substantial hard stand areas for flexible logistics solutions, plus car parking for up to 144 vehicles.

	Building type	Business Park
	Title	Freehold
	Site area (hectares)	4.9
	Lettable area ('000sqm)	29.3
	Lettable area adjusted for ownership ('000sqm)	29.3
	Number of buildings	6
	Car parking spaces	640
	NABERS Energy rating (with Green Power)	2 Lord 3.0/ 4 Lord n/a/ 6 Lord n/a
	NABERS Energy rating (without Green Power)	2 Lord 3.0/ 4 Lord n/a/ 6 Lord n/a
	NABERS Water rating	2 Lord n/a/ 4 Lord n/a/ 6 Lord
		n/a
	Year built	1990-2002
	Major tenant	BRP
	Owner	DXS
	Ownership (%)	100
	Metro area	Sydney, South
	Zoning	B7 Business Park
	Site coverage (%)	62
	Number of units	48
	Average unit size	0.6
	Office content (%)	76
	Acquisition date	January 2015
	Book value at ownership ($m)	137.0
	Independent valuation date	June 2018
	Independent valuation at ownership ($m)	137.0
	Market cap rate (%)	5.75
	Initial yield (%)	5.15
	Leased by area (%)	90
	Weighted lease term by income (years)	3.2

	Building type	Distribution Centre
	Title	Freehold
	Site area (hectares)	2.6
	Lettable area ('000sqm)	16.9
	Lettable area adjusted for ownership ('000sqm)	16.9
	Number of buildings	1
	Car parking spaces	144
	Year built	2004
	Major tenant	Toll
	Owner	DXS
	Ownership (%)	100
	Metro area	Sydney, Outer West
	Zoning	Employment
	Site coverage (%)	65
	Number of units	1
	Average unit size	16.9
	Office content (%)	2
	Acquisition date	March 2004
	Book value at ownership ($m)	32.3
	Independent valuation date	June 2018
	Independent valuation at ownership ($m)	32.3
	Market cap rate (%)	6.25
	Initial yield (%)	6.57
	Leased by area (%)	100
	Weighted lease term by income (years)	2.3

==> picture [248 x 224] intentionally omitted <==

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

145-151 Arthur Street,
Flemington
----- End of picture text -----

145-151 Arthur Street is a rare A-Grade industrial estate in the inner-west precinct of Homebush West, well connected to the M4 motorway for strategic metropolitan distribution. The nine modern warehouse units offer space ranging from 600-9,000 square metres, all approximately 10 metres in height and fitted with fire sprinklers, on grade access points and awnings.

	Building type	Business Park
	Title	Freehold
	Site area (hectares)	3.2
	Lettable area ('000sqm)	19.2
	Lettable area adjusted for ownership ('000sqm)	19.2
	Number of buildings	2
	Car parking spaces	401
	Year built	1985
	Major tenant	Rail Infrastructure Corporation
	Owner	DXS
	Ownership (%)	100
	Metro area	Sydney, Inner West
	Zoning	IN1 General Industrial
	Site coverage (%)	60
	Number of units	9
	Average unit size	2.1
	Office content (%)	56
	Acquisition date	September 1997
	Book value at ownership ($m)	37.5
	Independent valuation date	June 2018
	Independent valuation at ownership ($m)	37.5
	Market cap rate (%)	6.50
	Initial yield (%)	7.51
	Leased by area (%)	100
	Weighted lease term by income (years)	3.7

==> picture [249 x 224] intentionally omitted <==

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

436-484 Victoria Road,
Gladesville
----- End of picture text -----

436-484 Victoria Road is a high-tech building in a prominent position in Sydney’s north-west growth corridor. The modern property boasts large floor plates suitable for office or warehouse needs and the refurbished building sits on a prominent position with extensive street frontage to Victoria Road.

	Building type	Business Park
	Title	Freehold
	Site area (hectares)	2.0
	Year built	1991
	Owner	DXS
	Ownership (%)	100
	Metro area	Sydney, North
	Zoning	IN2 Light Industrial
	Acquisition date	September 1997

Industrial Portfolio

Dexus 2018 Property Synopsis

Summary of properties continued

1 Foundation Place, Greystanes

1 Foundation Place is a modern industrial estate located in the business hub of Greystanes offering freestanding units with high clearance and accompanying offices. The facility is 6 kilometres west of Parramatta and 26 kilometres west of the Sydney CBD, and is well connected to the major arterial routes of the M4 and M7 motorways.

==> picture [248 x 224] intentionally omitted <==

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

Quarry Industrial Estate
1 Basalt Road, Greystanes
----- End of picture text -----

1 Basalt Road is a modern premium multi-unit warehouse/office facility located in Sydney's premier industrial precinct, Quarry at Greystanes. Offering sustainable design and innovative building features, there are two units ideal for a variety of uses with average areas of 9,750 square metres, and onsite parking for 92 cars.

Building type Industrial Estate Title Freehold Site area (hectares) 5.8 Lettable area ('000sqm) 30.8 Lettable area adjusted for ownership ('000sqm) 30.8 Number of buildings 4 Car parking spaces 278 Year built 2004 Major tenant Sirva Owner DXS Ownership (%) 100 Metro area Sydney, Outer West Zoning IN1 General Industrial Site coverage (%) 53 Number of units 5 Average unit size 6.2 Office content (%) 14 Acquisition date February 2003 Book value at ownership ($m) 58.0 Independent valuation date June 2018 Independent valuation at ownership ($m) 58.0 Market cap rate (%) 6.25 Initial yield (%) 6.99 Leased by area (%) 100 Weighted lease term by income (years) 2.5	Building type Industrial Estate
	Title Freehold
	Site area (hectares) 3.4
	Lettable area ('000sqm) 19.4
	Lettable area adjusted for ownership ('000sqm) 9.7
	Number of buildings 1
	Car parking spaces 92
	Year built 2014
	Major tenant Consortium Centre
	Owner DXS
	Ownership (%) 50
	Co-owner AIP
	Metro area Sydney, Outer West
	Zoning IN2 Light Industrial
	Site coverage (%) 60
	Number of units 2
	Average unit size 9.7
	Office content (%) 6
	Acquisition date December 2007
	Book value at ownership ($m) 19.1
	Independent valuation date June 2018
	Independent valuation at ownership ($m) 19.1
	Market cap rate (%) 6.00
	Initial yield (%) 6.49
	Leased by area (%) 100
	Weighted lease term by income (years) 2.2

==> picture [248 x 224] intentionally omitted <==

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

Quarry Industrial Estate
2 Basalt Road, Greystanes
----- End of picture text -----

2-6 Basalt Road is a modern warehouse and distribution facility with associated office space located in Quarry Industrial Estate, Greystanes – one of Sydney's premier industrial precincts. The facility is currently divided into two separate units that provide a combination of on-grade access and recessed loading docks with all-weather coverage via large cantilever awnings.

	Building type	Industrial Estate
	Title	Freehold
	Site area (hectares)	4.3
	Lettable area ('000sqm)	23.4
	Lettable area adjusted for ownership ('000sqm)	11.7
	Number of buildings	1
	Car parking spaces	111
	Green star rating	4.0 Star (Industrial Design v1)
	Year built	2012
	Major tenant	Yusen Logistics
	Owner	DXS
	Ownership (%)	50
	Co-owner	AIP
	Metro area	Sydney, Outer West
	Zoning	IN2 Light Industrial
	Site coverage (%)	55
	Number of units	2
	Average unit size	11.7
	Office content (%)	5
	Acquisition date	December 2007
	Book value at ownership ($m)	25.1
	Independent valuation date	June 2018
	Independent valuation at ownership ($m)	25.1
	Market cap rate (%)	6.00
	Initial yield (%)	6.04
	Leased by area (%)	100
	Weighted lease term by income (years)	3.7

Quarry Industrial Estate 3 Basalt Road, Greystanes

3 Basalt Road is a modern warehouse and distribution facility located in one of Sydney's premier industrial precincts, Quarry Industrial Estate in Greystanes. The facility is subdivided into four individual units each with a minimum internal clearance of 10 metres. Features include a combination of recessed loading docks and on-grade access with all-weather protection and modern functional design.

	Building type	Industrial Estate
	Title	Freehold
	Site area (hectares)	3.8
	Lettable area ('000sqm)	18.2
	Lettable area adjusted for ownership ('000sqm)	9.1
	Number of buildings	1
	Car parking spaces	150
	Year built	2012
	Major tenant	Ausmedic Australia
	Owner	DXS
	Ownership (%)	50
	Co-owner	AIP
	Metro area	Sydney, Outer West
	Zoning	IN2 Light Industrial
	Site coverage (%)	49
	Number of units	4
	Average unit size	4.6
	Office content (%)	15
	Acquisition date	December 2007
	Book value at ownership ($m)	18.6
	Independent valuation date	June 2018
	Independent valuation at ownership ($m)	18.6
	Market cap rate (%)	6.00
	Initial yield (%)	4.03
	Leased by area (%)	65
	Weighted lease term by income (years)	1.7

Industrial Portfolio

Dexus 2018 Property Synopsis

Summary of properties continued

==> picture [249 x 224] intentionally omitted <==

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

Quarry Industrial Estate
5 Basalt Road, Greystanes
----- End of picture text -----

5 Basalt Road is a purpose built temperature controlled distribution centre located in Sydney's premier industrial precinct, Quarry at Greystanes. The single level office and warehouse accommodation provides a combination of ongrade and recessed loading docks with all-weather coverage via large cantilever awnings. There is also a car park with space for 34 vehicles.

==> picture [248 x 224] intentionally omitted <==

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

Quarry Industrial Estate
8 Basalt Road, Greystanes
----- End of picture text -----

8 Basalt Road was the first facility to be built at the Quarry Industrial Estate in Greystanes, one of western Sydney’s premier industrial estates. The single level office and warehouse accommodation incorporates six recessed loading docks and seven on-grade roller shutter doors covered by a large external awning for all-weather coverage.

	Building type	Industrial Estate
	Title	Freehold
	Site area (hectares)	1.2
	Lettable area ('000sqm)	5.5
	Lettable area adjusted for ownership ('000sqm)	2.7
	Number of buildings	1
	Car parking spaces	34
	Year built	2012
	Major tenant	UPS
	Owner	DXS
	Ownership (%)	50
	Co-owner	AIP
	Metro area	Sydney, Outer West
	Zoning	IN2 Light Industrial
	Site coverage (%)	44
	Number of units	1
	Average unit size	5.5
	Office content (%)	7
	Acquisition date	December 2007
	Book value at ownership ($m)	6.1
	Independent valuation date	June 2018
	Independent valuation at ownership ($m)	6.1
	Market cap rate (%)	5.75
	Initial yield (%)	6.27
	Leased by area (%)	100
	Weighted lease term by income (years)	1.5

	Building type	Industrial Estate
	Title	Freehold
	Site area (hectares)	3.1
	Lettable area ('000sqm)	18.7
	Lettable area adjusted for ownership ('000sqm)	9.3
	Number of buildings	1
	Car parking spaces	84
	Year built	2010
	Major tenant	Solaris Paper
	Owner	DXS
	Ownership (%)	50
	Co-owner	AIP
	Metro area	Sydney, Outer West
	Zoning	IN2 Light Industrial
	Site coverage (%)	60
	Number of units	1
	Average unit size	18.7
	Office content (%)	3
	Acquisition date	December 2007
	Book value at ownership ($m)	18.3
	Independent valuation date	June 2018
	Independent valuation at ownership ($m)	18.3
	Market cap rate (%)	6.00
	Initial yield (%)	6.46
	Leased by area (%)	100
	Weighted lease term by income (years)	2.2

Quarry Industrial Estate 1 Bellevue Circuit, Greystanes

Quarry Industrial Estate 2 Bellevue Circuit, Greystanes

1 Bellevue Circuit is a purpose built warehouse and office facility located in one of Sydney's premier industrial precincts, Quarry at Greystanes. The distribution centre features contemporary architectural design and provides high clearance warehousing, on-grade loading docks and large cantilevered awnings for all-weather protection in the loading areas.

2 Bellevue Circuit is a purpose built warehouse and office facility located in Sydney's premier industrial precinct, Quarry at Greystanes. 2 Bellevue Circuit provides two levels of contemporary office space with full height windows. The warehouse component has a high internal clearance, seven on-grade roller doors, three recessed loading docks plus production and dispatch areas.

Building type Industrial Estate Title Freehold Site area (hectares) 3.5 Lettable area ('000sqm) 17.9 Lettable area adjusted for ownership ('000sqm) 8.9 Number of buildings 1 Car parking spaces 242 Year built 2013 Major tenant Blackwoods Owner DXS Ownership (%) 50 Co-owner AIP Metro area Sydney, Outer West Zoning IN2 Light Industrial Site coverage (%) 51 Number of units 1 Average unit size 17.9 Office content (%) 21 Acquisition date December 2007 Book value at ownership ($m) 22.8 Independent valuation date June 2018 Independent valuation at ownership ($m) 22.8 Market cap rate (%) 5.50 Initial yield (%) 5.81 Leased by area (%) 100 Weighted lease term by income (years) 10.5	Building type Industrial Estate
	Title Freehold
	Site area (hectares) 2.5
	Lettable area ('000sqm) 13.4
	Lettable area adjusted for ownership ('000sqm) 6.7
	Number of buildings 1
	Car parking spaces 200
	Year built 2012
	Major tenant Brady
	Owner DXS
	Ownership (%) 50
	Co-owner AIP
	Metro area Sydney, Outer West
	Zoning IN2 Light Industrial
	Site coverage (%) 53
	Number of units 1
	Average unit size 13.4
	Office content (%) 3
	Acquisition date December 2007
	Book value at ownership ($m) 15.7
	Independent valuation date June 2018
	Independent valuation at ownership ($m) 15.7
	Market cap rate (%) 5.75
	Initial yield (%) 6.31
	Leased by area (%) 100
	Weighted lease term by income (years) 4.5

Industrial Portfolio

Dexus 2018 Property Synopsis

Summary of properties continued

==> picture [249 x 224] intentionally omitted <==

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

Quarry Industrial Estate
4 Bellevue Circuit, Greystanes
----- End of picture text -----

4 Bellevue Circuit is a purpose built warehouse facility with associated office space and car parking located in the Quarry at Greystanes industrial estate. The warehouse component has high internal clearance, seven on-grade roller doors, three recessed loading docks with production and dispatch areas. The office space is split over two levels and there is an onsite café.

==> picture [248 x 224] intentionally omitted <==

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

Quarry Industrial Estate
5 Bellevue Circuit, Greystanes
----- End of picture text -----

5 Bellevue Circuit is a purpose built distribution centre located in Sydney's premier industrial precinct. The facility is part of Quarry Industrial Estate at Greystanes which provides over 220,000 square metres of purpose built and speculative facilities for logistics, warehousing, manufacturing and storage users. 5 Bellevue Circuit comprises a vast single level warehouse facility and two levels of office space.

Building type Industrial Estate Title Freehold Site area (hectares) 0.5 Lettable area ('000sqm) 1.9 Lettable area adjusted for ownership ('000sqm) 1.9 Number of buildings 1 Car parking spaces 24 Year built 2015 Major tenant Fresh Solutions Owner DXS Ownership (%) 100 Metro area Sydney, Outer West Zoning IN2 Light Industrial Site coverage (%) 42 Number of units 2 Average unit size 1.7 Office content (%) 1 Acquisition date December 2007 Book value at ownership ($m) 6.3 Independent valuation date June 2018 Independent valuation at ownership ($m) 6.3 Market cap rate (%) 5.75 Initial yield (%) 5.22 Leased by area (%) 100 Weighted lease term by income (years) 7.3	Building type Industrial Estate
	Title Freehold
	Site area (hectares) 3.8
	Lettable area ('000sqm) 17.3
	Lettable area adjusted for ownership ('000sqm) 8.6
	Number of buildings 1
	Car parking spaces 243
	Year built 2010
	Major tenant Symbion Health
	Owner DXS
	Ownership (%) 50
	Co-owner AIP
	Metro area Sydney, Outer West
	Zoning IN2 Light Industrial
	Site coverage (%) 46
	Number of units 1
	Average unit size 17.3
	Office content (%) 14
	Acquisition date December 2007
	Book value at ownership ($m) 23.1
	Independent valuation date June 2018
	Independent valuation at ownership ($m) 23.1
	Market cap rate (%) 5.75
	Initial yield (%) 6.62
	Leased by area (%) 100
	Weighted lease term by income (years) 7.7

==> picture [248 x 224] intentionally omitted <==

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

Quarry Industrial Estate
6 Bellevue Circuit, Greystanes
----- End of picture text -----

6 Bellevue Circuit is a premium quality purpose built data centre warehouse with associated office space. As one of the first developments in the premium Quarry Industrial Estate at Greystanes, 6 Bellevue Circuit set a new benchmark for industrial architecture and construction. The facility comprises three levels of warehouse and data storage, and two levels of office accommodation.

==> picture [249 x 224] intentionally omitted <==

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

Quarry Industrial Estate
1 Turnbull Close, Greystanes
----- End of picture text -----

1 Turnbull Close is a warehouse/office facility located in the premium industrial estate, Quarry at Greystanes. The facility incorporates single level office and warehouse accommodation featuring high clearance, a combination of recessed loading docks and on-grade access and innovative industrial design.

Building type Industrial Estate Title Freehold Site area (hectares) 3.9 Lettable area ('000sqm) 17.0 Lettable area adjusted for ownership ('000sqm) 8.5 Number of buildings 1 Car parking spaces 62 Year built 2011 Major tenant Fujitsu Owner DXS Ownership (%) 50 Co-owner AIP Metro area Sydney, Outer West Zoning IN2 Light Industrial Site coverage (%) 44 Number of units 1 Average unit size 17.0 Acquisition date December 2007 Book value at ownership ($m) 30.9 Independent valuation date June 2018 Independent valuation at ownership ($m) 30.9 Market cap rate (%) 5.75 Initial yield (%) 6.23 Leased by area (%) 100 Weighted lease term by income (years) 8.3	Building type Industrial Estate
	Title Freehold
	Site area (hectares) 7.7
	Lettable area ('000sqm) 1.8
	Lettable area adjusted for ownership ('000sqm) 0.9
	Number of buildings 1
	Car parking spaces 38
	Year built 2015
	Major tenant Supply Network
	Owner DXS
	Ownership (%) 50
	Co-owner AIP
	Metro area Sydney, Outer West
	Zoning IN2 Light Industrial
	Site coverage (%) 100
	Number of units 1
	Average unit size 1.8
	Office content (%) 33
	Acquisition date December 2007
	Book value at ownership ($m) 2.4
	Independent valuation date June 2018
	Independent valuation at ownership ($m) 2.4
	Market cap rate (%) 5.50
	Initial yield (%) 5.02
	Leased by area (%) 100
	Weighted lease term by income (years) 12.3

Industrial Portfolio

Dexus 2018 Property Synopsis

Summary of properties continued

Quarry Industrial Estate 2 Turnbull Close, Greystanes

2 Turnbull Close is a warehouse and office facility located in Sydney's premier industrial precinct, Quarry at Greystanes, featuring innovative industrial design and a number of sustainable elements. The facility provides single level office and warehouse accommodation featuring high internal clearance and a combination of recessed loading docks and on-grade access.

==> picture [248 x 224] intentionally omitted <==

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

Quarry Industrial Estate
4 Turnbull Close, Greystanes
----- End of picture text -----

4 Turnbull Close is a warehouse and office facility located in Sydney's premier industrial precinct, Quarry at Greystanes, featuring innovative industrial design and a number of sustainable elements. The facility provides single level office and warehouse accommodation featuring high internal clearance and a combination of recessed loading docks and on-grade access.

Building type Industrial Estate Title Freehold Site area (hectares) 11.3 Lettable area ('000sqm) 6.2 Lettable area adjusted for ownership ('000sqm) 3.1 Number of buildings 1 Car parking spaces 49 Year built 2015 Major tenant Supply Network Owner DXS Ownership (%) 50 Co-owner AIP Metro area Sydney, Outer West Zoning IN2 Light Industrial Site coverage (%) 100 Number of units 1 Average unit size 6.1 Office content (%) 10 Acquisition date December 2007 Book value at ownership ($m) 8.1 Independent valuation date June 2018 Independent valuation at ownership ($m) 8.1 Market cap rate (%) 5.50 Initial yield (%) 5.45 Leased by area (%) 100 Weighted lease term by income (years) 12.3	Building type Industrial Estate
	Title Freehold
	Site area (hectares) 1.8
	Lettable area ('000sqm) 10.1
	Lettable area adjusted for ownership ('000sqm) 5.1
	Number of buildings 1
	Car parking spaces 47
	Year built 2013
	Major tenant Roche
	Owner DXS
	Ownership (%) 50
	Co-owner AIP
	Metro area Sydney, Outer West
	Zoning IN2 Light Industrial
	Site coverage (%) 57
	Number of units 1
	Average unit size 10.1
	Office content (%) 2
	Acquisition date December 2007
	Book value at ownership ($m) 12.3
	Independent valuation date June 2018
	Independent valuation at ownership ($m) 12.3
	Market cap rate (%) 5.50
	Initial yield (%) 5.46
	Leased by area (%) 100
	Weighted lease term by income (years) 10.5

Quarry Industrial Estate 1 Litton Close, Greystanes

1 Litton Close is the newest addition to Sydney’s premium industrial estate, Quarry at Greystanes. The site incorporates a warehouse facility with associated office space featuring innovative industrial design and sustainable elements. Built entirely on a single level, the warehouse features high internal clearance and a combination of recessed loading docks and on-grade access.

	Building type	Industrial Estate
	Title	Freehold
	Site area (hectares)	3.6
	Lettable area ('000sqm)	20.8
	Lettable area adjusted for ownership ('000sqm)	20.8
	Number of buildings	1
	Car parking spaces	83
	Year built	2016
	Major tenant	Reece
	Owner	DXS
	Ownership (%)	100
	Metro area	Sydney, Outer West
	Zoning	IN2 Light Industrial
	Site coverage (%)	100
	Number of units	1
	Average unit size	20.8
	Office content (%)	5
	Acquisition date	December 2007
	Book value at ownership ($m)	43.6
	Independent valuation date	June 2018
	Independent valuation at ownership ($m)	43.6
	Market cap rate (%)	5.75
	Initial yield (%)	5.78
	Leased by area (%)	100
	Weighted lease term by income (years)	8.0

Quarrywest 2A Basalt Road & 1 Charley Close, Greystanes

2A Basalt Road & 1 Charley Close are located in Sydney’s premier industrial estate, Quarrywest. The site incorporates two warehouse facilities with associated office space featuring innovative industrial design and sustainable elements. Built entirely on a single level, the warehouse accommodation will feature high internal clearance and a combination of recessed loading docks and on-grade access.

	Building type	Industrial Estate
	Title	Freehold
	Site area (hectares)	6.7
	Lettable area ('000sqm)	36.2
	Lettable area adjusted for ownership ('000sqm)	18.1
	Number of buildings	2
	Car parking spaces	326
	Green star rating	5.0 Star (Industrial Design v1) / 5.0
		Star (Industrial As Built v1)
	Year built	2016
	Major tenant	Toshiba
	Owner	DXS
	Ownership (%)	50
	Co-owner	Dexus Industrial Partner
	Metro area	Sydney, Outer West
	Zoning	IN2 Light Industrial
	Number of units	4
	Average unit size	9.0
	Office content (%)	11
	Acquisition date	June 2014
	Book value at ownership ($m)	47.8
	Independent valuation date	June 2018
	Independent valuation at ownership ($m)	47.8
	Market cap rate (%)	5.75
	Initial yield (%)	6.30
	Leased by area (%)	100
	Weighted lease term by income (years)	7.4

Industrial Portfolio

Dexus 2018 Property Synopsis

Summary of properties continued

==> picture [249 x 224] intentionally omitted <==

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

Quarrywest
1-3 Dolerite Way, Greystanes
----- End of picture text -----

1-3 Dolerite Way is located in Sydney’s premier industrial estate, Quarrywest. The development comprises of two state of the art, high quality designed warehouse buildings providing three tenancies over 8,100 square metres. Development completed in March 2018.

==> picture [248 x 224] intentionally omitted <==

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

Quarrywest
2-6 Dolerite Way, Greystanes
----- End of picture text -----

2-6 Dolerite Way is located in Sydney’s premier industrial estate, Quarrywest. The 33,900 square metre warehouse is currently under construction incorporating a high quality three unit tenancy warehouse with innovative industrial design and sustainable elements. Development works have commenced with practical completion due March 2019.

	Building type	Industrial Estate
	Title	Freehold
	Site area (hectares)	1.9
	Lettable area ('000sqm)	8.1
	Lettable area adjusted for ownership ('000sqm)	4.0
	Number of buildings	1
	Car parking spaces	71
	Year built	2018
	Major tenant	Bunnings
	Owner	DXS
	Ownership (%)	50
	Co-owner	Dexus Industrial Partner
	Metro area	Sydney, Outer West
	Zoning	IN2 Light Industrial
	Number of units	1
	Average unit size	3.0
	Acquisition date	June 2017
	Book value at ownership ($m)	10.2
	Independent valuation date	June 2018
	Independent valuation at ownership ($m)	10.2
	Market cap rate (%)	5.75
	Initial yield (%)	5.92
	Leased by area (%)	100
	Weighted lease term by income (years)	9.2

	Building type	Industrial Estate
	Title	Freehold
	Site area (hectares)	5.4
	Lettable area ('000sqm)	33.9
	Lettable area adjusted for ownership ('000sqm)	16.9
	Number of buildings	1
	Car parking spaces	184
	Major tenant	R.J Beaumont & Co. Pty Ltd
	Owner	DXS
	Ownership (%)	50
	Co-owner	Dexus Industrial Partner
	Metro area	Sydney, Outer West
	Zoning	IN2 Light Industrial
	Number of units	1
	Average unit size	33.9
	Acquisition date	June 2018
	Book value at ownership ($m)	13.9
	Independent valuation date	June 2018
	Independent valuation at ownership ($m)	13.9
	Market cap rate (%)	6.25
	Leased by area (%)	41
	Weighted lease term by income (years)	4.8

==> picture [56 x 10] intentionally omitted <==

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

Quarrywest
----- End of picture text -----

5 Dolerite Way, Greystanes

5 Dolerite Way is located in Sydney’s premier industrial estate, Quarrywest. A 10,100 square metre warehouse featuring innovative industrial design and sustainable elements. Quarrywest comprises 25.6 hectares of industrial development land located on Reconciliation Road in a core industrial market where future expansion is expected to drive user demand.

	Building type	Industrial Estate
	Title	Freehold
	Site area (hectares)	2.0
	Lettable area ('000sqm)	10.1
	Lettable area adjusted for ownership ('000sqm)	5.1
	Number of buildings	1
	Car parking spaces	60
	Year built	2016
	Major tenant	Whites Group
	Owner	DXS
	Ownership (%)	50
	Co-owner	Dexus Industrial Partner
	Metro area	Sydney, Outer West
	Zoning	IN2 Light Industrial
	Site coverage (%)	50
	Number of units	1
	Average unit size	10.0
	Office content (%)	10
	Acquisition date	June 2014
	Book value at ownership ($m)	12.0
	Independent valuation date	June 2018
	Independent valuation at ownership ($m)	12.0
	Market cap rate (%)	5.75
	Initial yield (%)	5.93
	Leased by area (%)	100
	Weighted lease term by income (years)	5.7

Quarrywest 7 Dolerite Way, Greystanes

7 Dolerite Way is located in Sydney’s premier industrial estate, Quarrywest. The new high quality 27,100 square metre warehouse is a complete temperature controlled, innovate and sustainable industrial facility. Development completed in March 2018. The single level office and warehouse accommodation provides a combination of on-grade access and recessed loading docks with allweather coverage via large cantilever awnings.

	Building type	Industrial Estate
	Title	Freehold
	Site area (hectares)	4.7
	Lettable area ('000sqm)	27.1
	Lettable area adjusted for ownership ('000sqm)	13.6
	Number of buildings	1
	Car parking spaces	168
	Year built	2018
	Major tenant	Symbion Health
	Owner	DXS
	Ownership (%)	50
	Co-owner	Dexus Industrial Partner
	Metro area	Sydney, Outer West
	Zoning	IN2 Light Industrial
	Number of units	1
	Average unit size	27.1
	Acquisition date	June 2017
	Book value at ownership ($m)	30.4
	Independent valuation date	June 2018
	Independent valuation at ownership ($m)	30.4
	Market cap rate (%)	5.50
	Initial yield (%)	5.39
	Leased by area (%)	100
	Weighted lease term by income (years)	10.0

Industrial Portfolio

Dexus 2018 Property Synopsis

Summary of properties continued

==> picture [249 x 224] intentionally omitted <==

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

Quarrywest
9 Dolerite Way, Greystanes
----- End of picture text -----

9 Dolerite Way is located in Sydney’s premier industrial estate, Quarrywest. The new 6,800 square metre warehouse was completed in January 2018 and developed with innovative industrial design and sustainable elements. The single level office and warehouse accommodation provides a combination of on-grade access and recessed loading docks with all-weather coverage via large cantilever awnings.

==> picture [248 x 224] intentionally omitted <==

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

27-29 Liberty Road,
Huntingwood
----- End of picture text -----

27 Liberty Road is a warehouse and distribution facility in an established industrial area in Sydney’s west. This building shares the industrial park with high-profile Australian corporations that also benefit from 27 Liberty Road’s close proximity to Western Sydney’s link roads.

Building type Industrial Estate Title Freehold Site area (hectares) 1.2 Lettable area ('000sqm) 6.8 Lettable area adjusted for ownership ('000sqm) 3.4 Number of buildings 1 Car parking spaces 33 Year built 2018 Major tenant Power Plastics Owner DXS Ownership (%) 50 Co-owner Dexus Industrial Partner Metro area Sydney, Outer West Zoning IN2 Light Industrial Number of units 1 Average unit size 6.8 Acquisition date June 2017 Book value at ownership ($m) 7.5 Independent valuation date June 2018 Independent valuation at ownership ($m) 7.5 Market cap rate (%) 5.75 Initial yield (%) 5.77 Leased by area (%) 100 Weighted lease term by income (years) 4.5	Building type Distribution Centre
	Title Freehold
	Site area (hectares) 1.4
	Lettable area ('000sqm) 6.8
	Lettable area adjusted for ownership ('000sqm) 6.8
	Number of buildings 1
	Car parking spaces 105
	Year built 1996
	Major tenant Tyres 4 U
	Owner DXS
	Ownership (%) 100
	Metro area Sydney, Outer West
	Zoning 4(d) Huntingwood Industrial Zone
	Site coverage (%) 49
	Number of units 1
	Average unit size 6.8
	Office content (%) 19
	Acquisition date July 1998
	Book value at ownership ($m) 9.5
	Independent valuation date June 2018
	Independent valuation at ownership ($m) 9.5
	Market cap rate (%) 6.50
	Initial yield (%) 7.04
	Leased by area (%) 100
	Weighted lease term by income (years) 1.3

Kings Park Industrial Estate Vardys Road, Marayong

2-4 Military Road, Matraville

Kings Park Industrial Estate is located adjoining Sydney’s rapidly growing northwest growth region and is well served by key connections to the M2 & M7. Kings Park is a large and well-established multi-unit industrial estate comprising nine office/warehouse buildings and a café. There is easy access to nearby Blacktown CBD.

2-4 Military Road is a modern industrial estate located near Port Botany with easy access to the Eastern Distributor, the M5 Motorway and Sydney Airport. The complex comprises two freestanding, high clearance industrial office/warehouse buildings.

Building type Industrial Estate Title Freehold Site area (hectares) 13.7 Lettable area ('000sqm) 69.0 Lettable area adjusted for ownership ('000sqm) 69.0 Number of buildings 10 Car parking spaces 484 Year built 1985 Major tenant Visy Owner DXS Ownership (%) 100 Metro area Sydney, Outer West Zoning 4(a) General Industrial Site coverage (%) 50 Number of units 11 Average unit size 6.3 Office content (%) 13 Acquisition date May 1990 Book value at ownership ($m) 109.0 Independent valuation date June 2018 Independent valuation at ownership ($m) 109.0 Market cap rate (%) 6.75 Initial yield (%) 7.26 Leased by area (%) 100 Weighted lease term by income (years) 3.0	Building type Industrial Estate
	Title Freehold
	Site area (hectares) 5.4
	Lettable area ('000sqm) 30.2
	Lettable area adjusted for ownership ('000sqm) 30.2
	Number of buildings 2
	Car parking spaces 384
	Year built 2000
	Major tenant Fedex
	Owner DXS
	Ownership (%) 100
	Metro area Sydney, South
	Zoning IN1 General Industrial
	Site coverage (%) 56
	Number of units 2
	Average unit size 15.1
	Office content (%) 24
	Acquisition date December 2009
	Book value at ownership ($m) 82.0
	Independent valuation date June 2018
	Independent valuation at ownership ($m) 82.0
	Market cap rate (%) 5.50
	Initial yield (%) 6.08
	Leased by area (%) 100
	Weighted lease term by income (years) 5.1

Industrial Portfolio

Dexus 2018 Property Synopsis

Summary of properties continued

==> picture [249 x 224] intentionally omitted <==

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

Centrewest Industrial Estate
Silverwater Road, Silverwater
----- End of picture text -----

Located 35 kilometres west of the Sydney CBD, Centrewest Industrial Estate is a 2.4 hectare estate comprising six warehouse buildings, 12 individual units and ample parking for up to 270 vehicles. The complex is located within one of Sydney's premier inner west industrial precincts with excellent access to major arterial roads.

==> picture [248 x 224] intentionally omitted <==

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

Dexus Industrial Estate
Egerton Street, Silverwater
----- End of picture text -----

Dexus Industrial Estate is located in one of Sydney's premier inner west industrial precincts, 35 kilometres from the Sydney CBD. The estate stretches across approximately 9 hectares and comprises multiple standalone office and warehouse facilities with parking for up to 290 vehicles.

Building type Industrial Estate Title Freehold Site area (hectares) 2.4 Lettable area ('000sqm) 14.3 Lettable area adjusted for ownership ('000sqm) 14.3 Number of buildings 6 Car parking spaces 270 Year built 1988 Major tenant Active Mobility Solutions Owner DXS Ownership (%) 100 Metro area Sydney, Inner West Zoning IN1 General Industrial Site coverage (%) 74 Number of units 12 Average unit size 1.5 Office content (%) 48 Acquisition date May 2010 Book value at ownership ($m) 27.3 Independent valuation date June 2018 Independent valuation at ownership ($m) 27.3 Market cap rate (%) 6.75 Initial yield (%) 7.32 Leased by area (%) 100 Weighted lease term by income (years) 3.4	Building type Industrial Estate
	Title Freehold
	Site area (hectares) 8.8
	Lettable area ('000sqm) 17.3
	Lettable area adjusted for ownership ('000sqm) 17.3
	Number of buildings 5
	Car parking spaces 290
	Year built 1969
	Major tenant Enersys Australia Pty Ltd
	Owner DXS
	Ownership (%) 100
	Metro area Sydney, Inner West
	Zoning IN1 General Industrial
	Site coverage (%) 21
	Number of units 6
	Average unit size 2.9
	Office content (%) 35
	Acquisition date May 1997
	Book value at ownership ($m) 39.8
	Independent valuation date June 2018
	Independent valuation at ownership ($m) 39.8
	Market cap rate (%) 6.22
	Initial yield (%) 6.30
	Leased by area (%) 100
	Weighted lease term by income (years) 3.7

12 Frederick Street, St Leonards

12 Frederick Street is an industrial estate comprising 13 warehouse and office units occupying approximately 19,400 square metres in St Leonards, located on the lower north-shore, this area is one of North Sydney’s premier industrial/commercial precincts. The units feature modern design and high quality accommodation ranging in size from 900-2,050 square metres.

	Building type	Industrial Estate
	Title	Freehold
	Site area (hectares)	2.5
	Year built	1974
	Owner	DXS
	Ownership (%)	100
	Metro area	Sydney, North
	Zoning	IN1 General Industrial
	Acquisition date	July 2000

==> picture [248 x 224] intentionally omitted <==

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

50 & 70 Radius Drive Larapinta
----- End of picture text -----

50 and 70 Radius Drive is a recently developed industrial estate offering 23,136 square metres of high quality office and warehouse space. The industrial site is 4.3 hectares in size and is conveniently located midway along Logan Motorway, south-east Queensland’s crucial connector road infrastructure.

Building type	Industrial Estate
Title	Freehold
Site area (hectares)	4.3
Lettable area ('000sqm)	23.1
Lettable area adjusted for ownership ('000sqm)	11.6
Number of buildings	1
Year built	2016
Major tenant	Mainfreight Logistics
Owner	DXS
Ownership (%)	50
Co-owner	Dexus Industrial Partner
Metro area	Brisbane, South
Zoning	General Industrial
Number of units	2
Average unit size	11.5
Office content (%)	2
Acquisition date	August 2014
Book value at ownership ($m)	18.1
Independent valuation date	June 2018
Independent valuation at ownership ($m)	18.1
Market cap rate (%)	6.50
Initial yield (%)	6.69
Leased by area (%)	100
Weighted lease term by income (years)	5.3

Industrial Portfolio

Dexus 2018 Property Synopsis

Summary of properties continued

141 Anton Road, Hemmant

30 Bellrick Street, Acacia Ridge

141 Anton Road is a 12 hectare development site located in the highly sought after Trade Coast precinct of Hemmant approximately 12 kilometres east of Brisbane's CBD. The strategically located site has the capacity to provide high quality office and warehouse facilities ranging from 11,000-60,000 square metres.

Located on the southern side of Bellrick Street in Acacia Ridge, this property presents an ideal corporate office and high-clearance warehouse environment. Key features include large floor plates, a large drive-through loading awning, three-phase power capacity, good hard stand truck turning and loading areas and approval for B double access.

	Building type	Land
	Title	Freehold
	Site area (hectares)	12.3
	Owner	DXS
	Ownership (%)	50
	Co-owner	Dexus Industrial Partner
	Metro area	Brisbane
	Zoning	General Industrial
	Acquisition date	December 2014
	Book value at ownership ($m)	15.0
	Independent valuation date	June 2018
	Independent valuation at ownership ($m)	15.0

	Building type	Distribution Centre
	Title	Freehold
	Site area (hectares)	3.5
	Lettable area ('000sqm)	17.7
	Lettable area adjusted for ownership ('000sqm)	17.7
	Number of buildings	5
	Car parking spaces	100
	Year built	1988
	Major tenant	EFM Logistics
	Owner	DXS
	Ownership (%)	100
	Metro area	Brisbane
	Zoning	General Industry
	Site coverage (%)	51
	Number of units	3
	Average unit size	5.9
	Office content (%)	9
	Acquisition date	June 1997
	Book value at ownership ($m)	18.5
	Independent valuation date	June 2018
	Independent valuation at ownership ($m)	18.5
	Market cap rate (%)	8.00
	Initial yield (%)	6.67
	Leased by area (%)	100
	Weighted lease term by income (years)	2.3

131 Mica Street, Carole Park

131 Mica Street is a premium quality distribution centre located approximately 23 kilometres south-west of the Brisbane CBD. The facility comprises a modern industrial warehouse with high internal clearance and covered, all-weather hard stand areas. The associated office space has an impressive double height reception area with showroom and shared car parking.

	Building type	Distribution Centre
	Title	Freehold
	Site area (hectares)	2.7
	Lettable area ('000sqm)	13.3
	Lettable area adjusted for ownership ('000sqm)	13.3
	Number of buildings	1
	Year built	2006
	Major tenant	Blackwoods
	Owner	DXS
	Ownership (%)	100
	Metro area	Brisbane
	Zoning	Regional Business and Industry
	Site coverage (%)	49
	Number of units	1
	Average unit size	13.3
	Acquisition date	January 2013
	Book value at ownership ($m)	26.7
	Independent valuation date	June 2018
	Independent valuation at ownership ($m)	26.7
	Market cap rate (%)	6.25
	Initial yield (%)	6.66
	Leased by area (%)	100
	Weighted lease term by income (years)	9.5

112 Cullen Avenue, Eagle Farm

Just moments from the Brisbane Airport, Gateway Motorway ramps, and Hamilton Harbour, this Cullen Avenue corporate park is an ideal location for businesses requiring an office and warehouse solution with spaces ranging in size from 270-817 square metres.

	Building type	Industrial Estate
	Site area (hectares)	2.0
	Lettable area ('000sqm)	12.0
	Lettable area adjusted for ownership ('000sqm)	6.0
	Number of buildings	1
	Car parking spaces	180
	Year built	1988
	Major tenant	BCC
	Owner	DXS
	Ownership (%)	50
	Co-owner	Dexus Industrial Partner
	Metro area	Brisbane
	Zoning	General Industry
	Site coverage (%)	58
	Number of units	7
	Average unit size	1.7
	Office content (%)	28
	Acquisition date	March 2015
	Book value at ownership ($m)	12.5
	Independent valuation date	June 2018
	Independent valuation at ownership ($m)	12.5
	Market cap rate (%)	7.00
	Initial yield (%)	6.91
	Leased by area (%)	98
	Weighted lease term by income (years)	4.1

Industrial Portfolio

Dexus 2018 Property Synopsis

Summary of properties continued

570-586 Wickham Street, Fortitude Valley

570-586 Wickham Street comprises two adjoining, purpose-built automotive dealerships known as Lighthouse, constructed in 2011, and the Euro Marque building, built in 2006. The property features 13,288 square metres of office and showroom space across two levels and a hardstand and external area of 2,556 square metres.

==> picture [248 x 224] intentionally omitted <==

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

15-23 Whicker Road, Gillman
----- End of picture text -----

The distribution centre at 15-23 Whicker Road is located approximately 12 kilometres north-west of Adelaide in the industrial area of Gillman, part of the City of Port Adelaide. The property’s location in the north-western suburb of Gillman allows for easy connection to the Adelaide CBD via the major transport corridors of Grand Junction Road and Port Road.

	Building type	Distribution Centre
	Number of buildings	2
	Year built	2006/2001
	Owner	DXS
	Ownership (%)	100
	Metro area	Brisbane
	Acquisition date	July 2018

	Building type	Distribution Centre
	Title	Freehold
	Site area (hectares)	9.7
	Lettable area ('000sqm)	74.0
	Lettable area adjusted for ownership ('000sqm)	74.0
	Number of buildings	2
	Year built	1970
	Major tenant	Bevchain
	Owner	DXS
	Ownership (%)	100
	Metro area	Adelaide
	Zoning	General Industry 2
	Site coverage (%)	76
	Number of units	2
	Average unit size	37.1
	Acquisition date	December 2002
	Book value at ownership ($m)	27.5
	Independent valuation date	June 2018
	Independent valuation at ownership ($m)	27.5
	Market cap rate (%)	11.00
	Initial yield (%)	12.63
	Leased by area (%)	95
	Weighted lease term by income (years)	1.4

==> picture [528 x 202] intentionally omitted <==

90 Mills Road, Braeside

114 Fairbank Road, Clayton

90 Mills Road is a highly functional freestanding industrial and logistics facility located within the established Woodlands Industrial Estate in Braeside, approximately 25 kilometres south east of the Melbourne CBD. The substantial warehouse component features an internal clearance of circa 10 metres, more than 60 roller doors, 16 loading docks and generous hardstand at the side and rear allowing for easy and efficient truck maneuverability. Large awnings provide undercover loading to many of the roller doors.

114 Fairbank Avenue is a distribution centre located in Clayton, an established and well-regarded industrial precinct approximately 20 kilometres south-east of the Melbourne CBD. The centre is serviced by the major road networks of the M1 Monash Freeway and Dandenong Road to Moorabbin Airport and the Port of Melbourne.

Building type Distribution Centre Title Freehold Site area (hectares) 8.0 Lettable area ('000sqm) 40.6 Lettable area adjusted for ownership ('000sqm) 40.6 Number of buildings 1 Car parking spaces 191 Year built 1996 Major tenant Simons National Carriers Owner DXS Ownership (%) 100 Metro area Melbourne, South East Site coverage (%) 50 Number of units 1 Average unit size 38.5 Office content (%) 5 Acquisition date July 2017 Book value at ownership ($m) 52.0 Independent valuation date June 2018 Independent valuation at ownership ($m) 52.0 Market cap rate (%) 6.00 Initial yield (%) 6.12 Leased by area (%) 100 Weighted lease term by income (years) 11.3	Building type Distribution Centre
	Title Freehold
	Site area (hectares) 3.6
	Lettable area ('000sqm) 18.6
	Lettable area adjusted for ownership ('000sqm) 18.6
	Number of buildings 1
	Car parking spaces 12
	Year built 1986
	Major tenant Annex Holdings
	Owner DXS
	Ownership (%) 100
	Metro area Melbourne, South East
	Zoning Industrial 1
	Site coverage (%) 52
	Number of units 1
	Average unit size 18.6
	Office content (%) 3
	Acquisition date July 1997
	Book value at ownership ($m) 15.8
	Independent valuation date June 2018
	Independent valuation at ownership ($m) 15.8
	Market cap rate (%) 8.00
	Initial yield (%) 9.99
	Leased by area (%) 100
	Weighted lease term by income (years) 1.3

Industrial Portfolio

Dexus 2018 Property Synopsis

Summary of properties continued

==> picture [249 x 224] intentionally omitted <==

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

Dexus Industrial Estate
Pound Road West, Dandenong
----- End of picture text -----

Pound Road West has been purpose designed for high end logistic users. A stand-alone distribution centre in Melbourne's south-east industrial heartland, the building is cleverly laid out for seamless loading, unloading and logistics duties. The warehouse has enough space for B-Double truck access and comes with 10.5 metre height clearance.

==> picture [248 x 224] intentionally omitted <==

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

Knoxfield Industrial Estate
Henderson Road, Knoxfield
----- End of picture text -----

20 Henderson Road forms the Knoxfield Industrial Estate, comprising of two office/warehouses. Offering multiple desirable features, 20 Henderson Road has large hard stand areas, high clearance ceilings, generously sized truck and loading bays, as well as warehouse spaces in practical proportions.

Building type Industrial Estate Title Freehold Site area (hectares) 16.2 Lettable area ('000sqm) 78.7 Lettable area adjusted for ownership ('000sqm) 78.7 Number of buildings 7 Car parking spaces 191 Year built 2001 Major tenant Reece Owner DXS Ownership (%) 100 Metro area Melbourne, South East Zoning Business 3 Site coverage (%) 49 Number of units 7 Average unit size 11.4 Office content (%) 9 Acquisition date January 2004 Book value at ownership ($m) 91.9 Independent valuation date June 2018 Independent valuation at ownership ($m) 91.9 Market cap rate (%) 6.63 Initial yield (%) 6.87 Leased by area (%) 100 Weighted lease term by income (years) 5.8	Building type Distribution Centre
	Title Freehold
	Site area (hectares) 7.4
	Lettable area ('000sqm) 53.0
	Lettable area adjusted for ownership ('000sqm) 53.0
	Number of buildings 2
	Car parking spaces 275
	Year built 1990
	Major tenant UniTrans
	Owner DXS
	Ownership (%) 100
	Metro area Melbourne, South East
	Zoning Industrial 1
	Site coverage (%) 70
	Number of units 2
	Average unit size 26.0
	Office content (%) 3
	Acquisition date August 1996
	Book value at ownership ($m) 59.5
	Independent valuation date June 2018
	Independent valuation at ownership ($m) 59.5
	Market cap rate (%) 6.00
	Initial yield (%) 6.61
	Leased by area (%) 100
	Weighted lease term by income (years) 7.6

250 Forest Road South, Lara

250 Forest Road South is an expansive distribution centre located in the industrial precinct of Lara between the ports of Melbourne and Geelong. The property comprises four warehouse buildings, each approximately 29,000 square metres in size, with a railway spur along the southern boundary. There is also a single office building and a car park for up to 122 vehicles.

	Building type	Distribution Centre
	Title	Freehold
	Site area (hectares)	24.6
	Lettable area ('000sqm)	117.3
	Lettable area adjusted for ownership ('000sqm)	117.3
	Number of buildings	4
	Car parking spaces	122
	Year built	1985
	Major tenant	AWH
	Owner	DXS
	Ownership (%)	100
	Metro area	Melbourne, South West
	Zoning	Industrial 2
	Site coverage (%)	48
	Number of units	4
	Average unit size	29.3
	Office content (%)	1
	Acquisition date	December 2002
	Book value at ownership ($m)	59.0
	Independent valuation date	June 2018
	Independent valuation at ownership ($m)	59.0
	Market cap rate (%)	8.25
	Initial yield (%)	9.72
	Leased by area (%)	100
	Weighted lease term by income (years)	5.0

==> picture [249 x 224] intentionally omitted <==

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

Dexus Industrial Estate
Boundary Road, Laverton North
----- End of picture text -----

A rare development opportunity of a freehold section of land on Boundary Road in Laverton North, one of Melbourne's fastest growing industrial precincts. The estate provides convenient access to the Princess/Westgate Freeway, Western Ring Road and the Deer Park Bypass.

	Building type	Land
	Title	Freehold
	Site area (hectares)	21.2
	Owner	DXS
	Ownership (%)	100
	Metro area	Melbourne, West
	Zoning	Industrial 2
	Acquisition date	July 2002
	Book value at ownership ($m)	44.0

Industrial Portfolio

Dexus 2018 Property Synopsis

Summary of properties continued

==> picture [249 x 224] intentionally omitted <==

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

Dexus Industrial Estate
1 Foundation Road,
Laverton North
----- End of picture text -----

1 Foundation Road is a modern single level office with an attached high bay steel portal framed warehouse located in Laverton North, one of Melbourne's fastest growing industrial precincts. The warehouse features seven on-grade roller shutter doors and two large skillion framed canopy structures.

==> picture [248 x 224] intentionally omitted <==

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

Dexus Industrial Estate
1-3 Distribution Drive,
Laverton North
----- End of picture text -----

1-3 Distribution Drive is a modern industrial estate comprising a two-level office and attached warehouse located in Laverton North, one of Melbourne's fastest growing industrial precincts. The building features contemporary architecture with clean lines and full height windows in the office that maximises natural light and the warehouse is accessed via five on grade roller shutter doors.

	Building type	Industrial Estate
	Title	Freehold
	Site area (hectares)	4.9
	Lettable area ('000sqm)	20.3
	Lettable area adjusted for ownership ('000sqm)	10.1
	Number of buildings	1
	Car parking spaces	72
	Year built	2007
	Major tenant	Visy
	Owner	DXS
	Ownership (%)	50
	Co-owner	AIP
	Metro area	Melbourne, West
	Zoning	Industrial 2
	Site coverage (%)	41
	Number of units	1
	Average unit size	20.3
	Office content (%)	14
	Acquisition date	July 2002
	Book value at ownership ($m)	12.2
	Independent valuation date	June 2018
	Independent valuation at ownership ($m)	12.2
	Market cap rate (%)	6.00
	Initial yield (%)	6.42
	Leased by area (%)	100
	Weighted lease term by income (years)	7.5

	Building type	Industrial Estate
	Title	Freehold
	Site area (hectares)	3.0
	Lettable area ('000sqm)	13.0
	Lettable area adjusted for ownership ('000sqm)	6.5
	Number of buildings	1
	Year built	2007
	Major tenant	Bestbar (Vic)
	Owner	DXS
	Ownership (%)	50
	Co-owner	AIP
	Metro area	Melbourne, West
	Zoning	Industrial 2
	Site coverage (%)	43
	Number of units	1
	Average unit size	13.0
	Office content (%)	25
	Acquisition date	July 2002
	Book value at ownership ($m)	8.1
	Independent valuation date	June 2018
	Independent valuation at ownership ($m)	8.1
	Market cap rate (%)	6.00
	Initial yield (%)	5.98
	Leased by area (%)	100
	Weighted lease term by income (years)	9.1

==> picture [248 x 224] intentionally omitted <==

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

Dexus Industrial Estate
2-10 Distribution Drive,
Laverton North
----- End of picture text -----

2-10 Distribution Drive is a modern freestanding distribution centre providing two levels of office accommodation and a single level warehouse. The warehouse features high internal clearance, a combination of recessed and on-grade loading docks and large awnings providing all-weather protection.

==> picture [249 x 224] intentionally omitted <==

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

Dexus Industrial Estate
7-9 Distribution Drive,
Laverton North
----- End of picture text -----

7-9 Distribution Drive is part of an industrial estate that's home to a variety of top local and international brands in the packaging, retail, beverage and logistics sectors. 7-9 Distribution Drive is a high quality free standing facility consisting of a single level office and warehouse including three on-grade roller shutter doors and a semi enclosed canopy over the loading areas.

Building type Industrial Estate Title Freehold Site area (hectares) 3.7 Lettable area ('000sqm) 17.5 Lettable area adjusted for ownership ('000sqm) 8.7 Number of buildings 1 Year built 2012 Major tenant Unipod Owner DXS Ownership (%) 50 Co-owner AIP Metro area Melbourne, West Zoning Industrial 2 Site coverage (%) 47 Number of units 1 Average unit size 17.5 Office content (%) 3 Acquisition date July 2002 Book value at ownership ($m) 10.2 Independent valuation date June 2018 Independent valuation at ownership ($m) 10.2 Market cap rate (%) 5.75 Initial yield (%) 5.70 Leased by area (%) 100 Weighted lease term by income (years) 9.1	Building type Industrial Estate
	Title Freehold
	Site area (hectares) 1.8
	Lettable area ('000sqm) 7.9
	Lettable area adjusted for ownership ('000sqm) 3.9
	Number of buildings 1
	Year built 2007
	Major tenant Hufcor
	Owner DXS
	Ownership (%) 50
	Co-owner AIP
	Metro area Melbourne, West
	Zoning Industrial 2
	Site coverage (%) 43
	Number of units 1
	Average unit size 7.9
	Office content (%) 31
	Acquisition date July 2002
	Book value at ownership ($m) 4.4
	Independent valuation date June 2018
	Independent valuation at ownership ($m) 4.4
	Market cap rate (%) 6.75
	Initial yield (%) 6.45
	Leased by area (%) 100
	Weighted lease term by income (years) 3.9

Industrial Portfolio

Dexus 2018 Property Synopsis

Summary of properties continued

==> picture [249 x 224] intentionally omitted <==

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

Dexus Industrial Estate
11-17 Distribution Drive,
Laverton North
----- End of picture text -----

11-17 Distribution Drive is a stand alone distribution centre comprising a single level office and attached warehouse in Melbourne’s fastest growing industrial precinct, Laverton North. The facility has a high bay steel portal framed warehouse with significant curtilage areas and features eight on-grade roller shutter doors and five recessed loading docks.

Dexus Industrial Estate 12-18 Distribution Drive, Laverton North

12-18 Distribution Drive is a 43,000 square metre distribution centre providing chilled warehouse facilities and two-levels of corporate office space. The purpose built centre features recessed loading docks with large awnings for all weather protection, plus a café with a partly shared outdoor seating area and significant car parking for staff and visitors.

Building type Distribution Centre Title Freehold Site area (hectares) 9.6 Lettable area ('000sqm) 45.5 Lettable area adjusted for ownership ('000sqm) 22.7 Number of buildings 1 Year built 2007 Major tenant Fosters Australia Owner DXS Ownership (%) 50 Co-owner AIP Metro area Melbourne, West Zoning Industrial 2 Site coverage (%) 48 Number of units 1 Average unit size 45.5 Office content (%) 8 Acquisition date July 2002 Book value at ownership ($m) 24.5 Independent valuation date June 2018 Independent valuation at ownership ($m) 24.5 Market cap rate (%) 6.00 Initial yield (%) 6.12 Leased by area (%) 100 Weighted lease term by income (years) 5.5	Building type Distribution Centre
	Title Freehold
	Site area (hectares) 16.6
	Lettable area ('000sqm) 43.0
	Lettable area adjusted for ownership ('000sqm) 21.5
	Number of buildings 1
	Year built 2007
	Major tenant Wesfarmers
	Owner DXS
	Ownership (%) 50
	Co-owner AIP
	Metro area Melbourne, West
	Zoning Industrial 2
	Site coverage (%) 26
	Number of units 1
	Average unit size 43.0
	Office content (%) 46
	Acquisition date July 2002
	Book value at ownership ($m) 59.0
	Independent valuation date June 2018
	Independent valuation at ownership ($m) 59.0
	Market cap rate (%) 7.25
	Initial yield (%) 8.86
	Leased by area (%) 100
	Weighted lease term by income (years) 3.8

Dexus Industrial Estate 25 Distribution Drive, Laverton North

Dexus Industrial Estate 27 Distribution Drive, Laverton North

25 Distribution Drive is part of an industrial estate that's home to a variety of top local and international brands in the packaging, retail, beverage and logistics sectors. The facility includes offices with lobby areas and lift facilities, extensive sprinkler networks, generous warehouse spaces, recessed loading docks and container dooring, and large loading canopies and hard stand areas.

27 Distribution Drive is a premium quality, freestanding office and warehouse facility in Laverton North, Melbourne’s fastest growing industrial precinct. Built on a single level, the warehouse features high internal clearance and provides five recessed loading docks and five roller shutter doors covered with a large awning for all weather protection.

Building type Industrial Estate Title Freehold Site area (hectares) 1.6 Lettable area ('000sqm) 15.7 Lettable area adjusted for ownership ('000sqm) 15.7 Number of buildings 1 Year built 2012 Major tenant Natures Dairy Australia Owner DXS Ownership (%) 100 Metro area Melbourne, West Zoning Industrial 2 Site coverage (%) 48 Number of units 1 Average unit size 15.7 Office content (%) 5 Acquisition date July 2002 Book value at ownership ($m) 10.3 Independent valuation date June 2018 Independent valuation at ownership ($m) 10.3 Market cap rate (%) 5.75 Initial yield (%) 6.40 Leased by area (%) 100 Weighted lease term by income (years) 9.4	Building type Industrial Estate
	Title Freehold
	Site area (hectares) 2.5
	Lettable area ('000sqm) 13.8
	Lettable area adjusted for ownership ('000sqm) 6.9
	Number of buildings 1
	Year built 2012
	Major tenant Toll
	Owner DXS
	Ownership (%) 50
	Co-owner AIP
	Metro area Melbourne, West
	Zoning Industrial 2
	Site coverage (%) 54
	Number of units 1
	Average unit size 13.8
	Office content (%) 6
	Acquisition date July 2002
	Book value at ownership ($m) 7.2
	Independent valuation date June 2018
	Independent valuation at ownership ($m) 7.2
	Market cap rate (%) 6.50
	Initial yield (%) 8.06
	Leased by area (%) 100
	Weighted lease term by income (years) 1.6

Industrial Portfolio

Dexus 2018 Property Synopsis

Summary of properties continued

Dexus Industrial Estate 28 Distribtuion Drive, Laverton North

Axxess Corporate Park, Mount Waverley

28 Distribution Drive is a premium quality freestanding industrial estate with warehouse and office space located in Laverton North, 18 kilometres west of the Melbourne CBD. The warehouse component features 10-metre high internal clearance with ESFR sprinklers and provides four recessed loading docks and four roller shutter doors.

Axxess provides a combination of freestanding office buildings and traditional industrial office/warehouse units fronting onto Forster and Gilby Roads. The estate provides smaller units up to 1,000 square metres plus modern office/warehouses up to 6,000 square metres.

Building type Industrial Estate Title Freehold Site area (hectares) 2.4 Lettable area ('000sqm) 11.9 Lettable area adjusted for ownership ('000sqm) 5.9 Number of buildings 1 Year built 2013 Major tenant Linpac Packaging Australia Owner DXS Ownership (%) 50 Co-owner AIP Metro area Melbourne, West Zoning Industrial 2 Site coverage (%) 50 Number of units 1 Average unit size 11.9 Office content (%) 4 Acquisition date July 2002 Book value at ownership ($m) 6.5 Independent valuation date June 2018 Independent valuation at ownership ($m) 6.5 Market cap rate (%) 6.50 Initial yield (%) 7.33 Leased by area (%) 100 Weighted lease term by income (years) 2.3	Building type Business Park
	Title Freehold
	Site area (hectares) 19.6
	Lettable area ('000sqm) 85.0
	Lettable area adjusted for ownership ('000sqm) 85.0
	Number of buildings 29
	Car parking spaces 1240
	NABERS Energy rating (with Green Power) 315 Ferntree 3.5 / 321 Ferntree Exempt / 327 Ferntree 4.0 / 307 Ferntree n/a / 100/45 Gilby n/a
	NABERS Energy rating (without Green Power) 315 Ferntree 3.5 / 321 Ferntree Exempt / 327 Ferntree 4.0 / 307 Ferntree n/a / 100/45 Gilby n/a
	NABERS Water rating 315 Ferntree 2.5 / 321 Ferntree n/a / 327 Ferntree NR / 307 Ferntree n/a / 100/45 Gilby n/a
	Year built 1980
	Major tenant Monash University
	Owner DXS
	Ownership (%) 100
	Metro area Melbourne, South East
	Zoning Business 3 Zone
	Site coverage (%) 44
	Number of units 119
	Average unit size 0.7
	Office content (%) 25
	Acquisition date October 1996
	Book value at ownership ($m) 231.9
	Independent valuation date June 2018
	Independent valuation at ownership ($m) 231.9
	Market cap rate (%) 6.84
	Initial yield (%) 6.57
	Leased by area (%) 96
	Weighted lease term by income (years) 2.4

Dexus Diversified Trust

ARSN 089 324 541

Dexus Industrial Trust

Investor enquiries

Infoline: +61 1800 819 675 Email: [email protected] Website: www.dexus.com

ARSN 090 879 137

Dexus Office Trust ARSN 090 768 531

Dexus Operations Trust

ARSN 110 521 223

Responsible Entity

Dexus Funds Management Limited ABN 24 060 920 783

Registered office of Responsible Entity

Level 25, Australia Square 264-278 George Street Sydney NSW 2000

PO Box R1822 Royal Exchange Sydney NSW 1225

Security registry

Link Market Services Limited

Level 12, 680 George Street Sydney NSW 2000 Locked Bag A14 Sydney South NSW 1235

Registry Infoline: +61 1800 819 675 Fax: +61 2 9287 0303 Email: [email protected] Website: www.linkmarketservices.com.au Monday to Friday between 8.30am and 5.30pm (Sydney time)

For enquiries regarding your holding you can either contact the Security Registry, or access your holding details on our website www.dexus.com/update

Australian Securities Exchange

ASX code: DXS

Phone: +61 2 9017 1100 Fax: +61 2 9017 1101 Investor Relations: +612 9017 1330 Email: [email protected] Website: www.dexus.com

Dexus IR App

Download the Dexus IR App to gain instant access to the latest stock price, ASX Announcements, presentations, reports, webcasts and more.

==> picture [89 x 27] intentionally omitted <==

years being listed as Dexus

AI assistant

DEXUS — Annual Report 2018

64807_rns_2018-08-14_977478b0-019e-4af5-81e2-0ab08413bf07.pdf

Dexus (ASX: DXS)

ASX release

15 August 2018

2018 Property Synopsis

For further information please contact:

About Dexus

Download the Dexus IR app

Property Synopsis

Office Portfolio

Melbourne

Brisbane

Property type by book value

Geographical weighting by book value

Diversity by tenants by income

Office lease expiry profile

Dexus office portfolio

Sydney CBD

Sydney Suburban

Brisbane CBD

Melbourne CBD

Sustainability

NABERS is a national rating system that measures the energy efficiency, water usage, waste management and indoor environment quality of a building or tenancy and its impact on the environment.

NABERS rating

Summary of properties

Summary of properties continued

1 Constitution Avenue, Canberra

Summary of properties continued

60 Miller Street, North Sydney

201 Miller Street, North Sydney

101 George Street, Parramatta

Summary of properties continued

130 George Street, Parramatta

140 George Street, Parramatta

150 George Street, Parramatta

Summary of properties continued

Summary of properties continued

1 Bligh Street, Sydney

Summary of properties continued

Summary of properties continued

60 Castlereagh Street, Sydney

Summary of properties continued

201-217 Elizabeth Street, Sydney

309-321 Kent Street, Sydney

Summary of properties continued

123 Albert Street, Brisbane

145 Ann Street, Brisbane

Summary of properties continued

480 Queen Street, Brisbane

Summary of properties continued

Summary of properties continued

32-44 Flinders Street, Melbourne

Industrial Portfolio

Brisbane

Sydney

Melbourne

Adelaide

Property type by book value

Geographical weighting by book value

Diversity of tenants by income

Industrial lease expiry profile

Dexus industrial portfolio

Sydney

Sustainability highlights

Brisbane

Adelaide

Summary of properties

Summary of properties

Summary of properties continued

Summary of properties continued

2 Alspec Place, Eastern Creek

Summary of properties continued

1 Foundation Place, Greystanes

Quarry Industrial Estate 3 Basalt Road, Greystanes

Summary of properties continued

Quarry Industrial Estate 1 Bellevue Circuit, Greystanes

Quarry Industrial Estate 2 Bellevue Circuit, Greystanes

Summary of properties continued

DEXUS Annual Report 2018