DEXUS - Investor Presentation 2010

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DEXUS Property Group - ASX release
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5 May 2010 DEXUS Property Group (ASX:DXS) Sydney Industrial Property Tour

DEXUS Property Group (DXS) provides a copy of the 2010 Sydney industrial property tour booklet.

For further information contact:

Media Relations Investor Relations Emma Parry T: (02) 9017 1133 Daniel Rubinstein T: (02) 9017 1336 M: 0421 000 329 M: 0466 016 725 E: [email protected] E: [email protected] Karol O’Reilly T: (03) 8611 2930 M: 0405 134 856 E: [email protected]

About DEXUS

DEXUS is one of Australia’s leading property groups specialising in world-class office, industrial and retail properties with total assets under management of $13 billion. In Australia, DEXUS is the number 1 owner/manager of office, number 3 in industrial and, on behalf of third party clients, a leading manager and developer of shopping centres.

DEXUS is committed to being a market leader in Corporate Responsibility and Sustainability and has been recognised for the second year running as one of the Global 100 Most Sustainable Corporations at the World Economic Forum in Davos. www.dexus.com

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

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2010

DEXUS Property Group SYDNEY INDUSTRIAL PROPERTY TOUR

5 MAY

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ToUr aGEnDa
DEXUS InDUSTrIaL PorTFoLIo	2
DEXUS SYDnEY InDUSTrIaL ToUr	4
5-13 roSEbErY avEnUE, roSEbErY	6
25-55 roThSchILD avEnUE, roSEbErY	8
154 o’rIorDan STrEET, MaScoT	10
2-4 MILITarY roaD, MaTravILLE	12
145-151 arThUr STrEET, FLEMInGTon	14
GrEYSTanES InDUSTrIaL ESTaTE, rEconcILIaTIon roaD,
GrEYSTanES	16
DEXUS InDUSTrIaL ESTaTE, 1 FoUnDaTIon PLacE,
GrEYSTanES	18
2 aLSPEc PLacE, EaSTErn crEEk	20
kInGS Park InDUSTrIaL ESTaTE, varDYS roaD, MaraYonG	22
DEXUS MELboUrnE InDUSTrIaL PorTFoLIo	24
LavErTon InDUSTrIaL ESTaTE, boUnDarY roaD,
LavErTon norTh	26
12-18 DISTrIbUTIon DrIvE, LavErTon norTh	28
noTES	30
Cover: 12-18 Distribution Drive, Laverton North, VIC
This page: Greystanes Industrial Estate, Reconciliation Road, Greystanes, NSW

TOUR AGENDA

DEXUS InDUSTrIaL PorTFoLIo

PorTFoLIo aT a GLancE

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||||||
|---|---|---|---|---|
|DEcEMbEr 2009|March 2010|
|Number of properties|35|35|
|Total NLA (‘000 m|[2]|)|1,109|1,079|
|Occupancy (area)|97.7%|98.2%|
|Occupancy (income)|97.3%|97.7%|
|% over/(under) rented|6.6%|
|Retention|76%|84%|
|WALE|4.7 years|4.5 years|
|Portfolio value|$1.5bn|
|Average cap rate|8.8%|

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DIVERSIFICATION BY BOOK VALUE[1 ] 31 MARCH 2010

TENANT DIVERSIFICATION 31 MARCH 2010

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|||||
|---|---|---|---|
|Sydney, Outer West|27%|Wholesale Trade|30%|
|Melbourne, South East|23%|Manufacturing|22%|
|Melbourne, West|20%|Transport & Storage|19%|
|Sydney, North|13%|Property & Business|11%|
|Sydney, Inner West|11%|Other|10%|
|Brisbane|4%|Agriculture|6%|
|Adelaide|2%|Vacant|2%|

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1 Including land.

kEY InDUSTrIaL MarkETS

SYDnEY

South An established precinct consisting of warehouse and strata unit developments serviced by the M5 and Eastern Distributor located in close proximity to Port Botany, the airport, intermodal terminals and the Sydney CBD. Inner West An established industrial precinct consisting of smaller warehouse and strata unit developments with the businesses servicing metropolitan Sydney. Accessible via Parramatta Road and the M4. outer West A precinct with large workforce and land supply serviced by the M7 and M4. South West A key interchange location with strong infrastructure network including M7, M5 and intermodal, dominated by large warehouses.

MELboUrnE

South East Dominated by warehouse and distribution facilities typically with a higher office component. Serviced by Monash Freeway (M1) and Eastlink (M3). West A precinct dominated by warehouse and distribution facilities typically with a lower office component located within easy distance of the port and airport and serviced by Westgate Freeway (M1) and the Western Ring Road (M80).

DEXUS SYDnEY InDUSTrIaL ToUr

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Riverstone
Kings Park
3
Glendenning 14
M7
M7 6
Blacktown
1
M4
13
Eastern Huntingwood
Erskine
Creek 8
Park
Reconciliation Rd 11
12
Greystanes
Horsley Smithfield
Park 21
M7
Yennora
Liverpool
M7 Milperra
M5
Prestons
Moorebank
0 1 2 3 4 5
Kilometres
The Horsley Dr
Merrylands Rd
Great Western Hwy
Liverpool Rd
Richmond Rd
Hume Hwy
Old Windsor Rd
Windsor Rd
Richmond Rd
Woodville Rd
Knox Rd
Greystanes Rd
Sunnyholt Rd
Cumberland Hwy
Prospect Hwy
Reservoir Rd
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1 52 Holbeche Road, Arndell Park 2 79-99 St Hilliers Road, Auburn 3 1-3 Brookhollow Avenue, Crestwood 4 1 Garigal Road, Belrose 5 2 Minna Close, Belrose 6 30-32 Bessemer Street, Blacktown 7 114-120 Old Pittwater Road, Brookvale 8 2 Alspec Place, Eastern Creek 9 145-151 Arthur Street, Flemington 10 436-484 Victoria Road, Gladesville 11 1 Foundation Place, Greystanes 12 Greystanes Industrial Estate, Greystanes 13 27-29 Liberty Road, Huntingwood 14 Kings Park Industrial Estate, Vardys Road, Marayong 15 154 O’Riordan Street, Mascot 16 2-4 Military Road, Matraville 17 5-13 Rosebery Avenue, Rosebery 18 25-55 Rothschild Avenue, Rosebery 19 10-16 South Street, Rydalmere 20 DEXUS Industrial Estate, Silverwater 21 19 Chifley Street, Smithfield 22 12 Frederick Street, St Leonards

Key industrial markets Supporting industrial corridors Railway line (passenger and freight) Detailed map available on property pages

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F3
5 4
Belrose
Pennant Hills
M2
7
Brookvale
Manly
Artarmon
Ryde
19
22
10
M4 Silverwater Gladesville
20
2
9
SYDNEY
M1
Rosebery
18 17
15
Mascot
M5
Kingsgrove
Matraville
Port Botany
Expansion
(under construction) 16
Botany Bay
Parramatta Rd
Warringah Rd
Victoria Rd
Parramatta Rd
Pennant Hills Rd
Gardeners Rd
Pennant Hills Rd
Botany Rd
Botany Rd
Princes Hwy
Foreshore Rd
Princes Hwy
Liverpool Rd
Lane Cove Rd
Pittwater Rd
Pacific Hwy
Mona Vale Rd
King Georges Rd
Victoria Rd
Pacific Hwy
Botany Rd
Anzac Pde
Burns Bay Rd
Anzac Pde
Silverwater Rd
Roberts Rd
Rookwood Rd
James Ruse Dr
Forest Way
Pacific Hwy
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5-13 roSEbErY avEnUE roSEbErY

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5-13 rosebery avenue and 25-55 rothschild avenue, rosebery
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The location provides excellent main road exposure and three street frontages. Rosebery Avenue runs parallel to Botany Road which is one of the major thoroughfares of the locality, providing direct access to the CBD. Convenient access is also available to Southern Cross Drive, the Eastern Distributor and the Sydney Kingsford Smith Airport.

PROPERTY DETAILS

PROPERTY DETAILS
Building Type	Business park
Title	Freehold
Site area (ha)	3
Lettable area (‘000 m2)	27.9
Number of buildings	3
Car parking spaces	407
Metro area	Sydney, South
Zoning	Mixed Use Zone 10(e)
Site coverage (%)	93
Number of units	34
Average unit size (‘000 m2)	0.8
MAjOR TENANTS
Trimex Pty Ltd	33%
IGT (Australia) Pty Ltd	23%
Anixter Australia Pty Ltd	8%

KEY STATISTICS AT 31 DECEMBER 2009

KEY STATISTICS AT 31 DECEMBER 2009
Acquisition date Acquisition price plus additions (A$m)	Apr 1998 45.9
Independent valuation date	Jun 2008
Independent valuation (A$m)	62.2
Book value (A$m)	56.8
Market cap rate (%)	8.25
Initial yield (%)	9.0
Discount rate (%)	10.0
Average passing rent (A$/m2)	170.09
Average market rent (A$/m2)	157.83
Leased by area (%)	96
Weighted lease term by income (years)	5.71

LEASE MATURITY (%)

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Year 2010Year 2011Year 2012Year 2013Year 2014Year 2015Year 2016Year 2017Year 2018Year 2019+
33%
23%
15%
14%
5%
4%
1%
0% 0% 0%
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6 DEXUS ProPErTY GroUP SYDNEY INDUSTRIAL PROPERTY TOUR

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Zetland Kensington
Sydney Park
St Peters 18 17
M1
Australian
Golf Course
Alexandria
Kingsford
15 Eastlakes
Astrolabe
0 200 Metres400 600 800 Park
Sydney Park Rd
Gardeners Rd
Epsom Rd
Airport Dr
Collins St
Huntley St
Princes Hwy
Bourke Rd
Canal Rd
Euston Rd
O’Riordan St
Cooks River
Joynton Ave
Botany Rd
Rothschild Ave Rosebery Ave
Southern Cross Dr
Botany Rd
Anzac Pde
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NOTES

DEXUS ProPErTY GroUP SYDNEY INDUSTRIAL PROPERTY TOUR

25-55 roThSchILD avEnUE roSEbErY

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PROPERTY DETAILS

PROPERTY DETAILS
Building type	Business park
Title	Freehold
Site area (ha)	1.9
Lettable area (‘000 m2)	16.9
Number of buildings	1
Car parking spaces	71
Metro area	Sydney, South
Zoning	Mixed Use Zone 10(e)
Site coverage (%)	88
Number of units	2
Average unit size (‘000 m2)	8.4
MAjOR TENANTS
Commonwealth of Australia (AQIS)	75%
Overstock Outlet (oo.com.au)	25%

KEY STATISTICS AT 31 DECEMBER 2009

KEY STATISTICS AT 31 DECEMBER 2009
Acquisition date Acquisition price plus additions (A$m)	Oct 2001 29.2
Independent valuation date	Jun 2008
Independent valuation (A$m)	40.5
Book value (A$m)	31.6
Market cap rate (%)	8.5
Initial yield (%)	9.0
Discount rate (%)	9.0
Average passing rent (A$/m2)	163.49
Average market rent (A$/m2)	160.46
Leased by area (%)	100
Weighted lease term by income (years)	2.97

LEASE MATURITY (%)

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Year 2010Year 2011Year 2012Year 2013Year 2014Year 2015Year 2016Year 2017Year 2018Year 2019+
75%
25%
0% 0% 0% 0% 0% 0% 0% 0%
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8 DEXUS ProPErTY GroUP SYDNEY INDUSTRIAL PROPERTY TOUR

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NOTES

DEXUS ProPErTY GroUP SYDNEY INDUSTRIAL PROPERTY TOUR

154 o’rIorDan STrEET MaScoT

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The property is located in Mascot, an established industrial suburb of South Sydney, approximately nine kilometres by road from the Sydney CBD. The Sydney Kingsford Smith Airport is located one to two kilometres south and Port Botany is located approximately five kilometres to the south-east.

PROPERTY DETAILS

PROPERTY DETAILS
Building type	Industrial estate
Title	Freehold
Site area (ha)	1.4
Lettable area (‘000 m2)	8.2
Number of buildings	3
Car parking spaces	130
Metro area	Sydney, South
Zoning	Industrial 4(a)
Site coverage (%)	57
Number of units	7
Average unit size (‘000 m2)	1.2
MAjOR TENANTS
Toll Priority	24%
AMI Wholesale Freight Pty Ltd	15%
WorkVentures Limited	12%

KEY STATISTICS AT 31 DECEMBER 2009

KEY STATISTICS AT 31 DECEMBER 2009
Acquisition date	Jun 1997
Acquisition price plus additions (A$m)	11.2
Independent valuation date	Dec 2008
Independent valuation (A$m)	15.0
Book value (A$m)	13.5
Market cap rate (%)	8.25
Initial yield (%)	9.0
Discount rate (%)	10.0
Average passing rent (A$/m2)	148.33
Average market rent (A$/m2)	143.75
Leased by area (%)	77
Weighted lease term by income (years)	1.9

LEASE MATURITY (%)

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Year 2010Year 2011Year 2012Year 2013Year 2014Year 2015Year 2016Year 2017Year 2018Year 2019+
36%
15%
12%
8% 8%
0% 0% 0% 0% 0%
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10 DEXUS ProPErTY GroUP SYDNEY INDUSTRIAL PROPERTY TOUR

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NOTES

DEXUS ProPErTY GroUP SYDNEY INDUSTRIAL PROPERTY TOUR 11

2-4 MILITarY roaD MaTravILLE

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A modern industrial estate constructed in the early 2000s, comprising two freestanding, high clearance industrial office/warehouse buildings. The buildings extend to a total area of 30,154 square metres on a site of 5.4 hectares. The property is situated in close proximity to the expanding Port Botany and is within the popular South Sydney market.

PROPERTY DETAILS

PROPERTY DETAILS
Building type	Industrial estate
Title	Freehold
Site area (ha)	5.4
Lettable area (‘000 m2)	30.2
Number of buildings	2
Car parking spaces	384
Metro area	Sydney, South
Zoning	General Industrial (INI)
Site coverage (%)	56
Number of units	2
Average unit size (‘000 m2)	15.1
MAjOR TENANTS
Salmat BusinessForce Pty Ltd	60%
Agility Logistics Pty Ltd	40%

KEY STATISTICS AT 31 DECEMBER 2009

KEY STATISTICS AT 31 DECEMBER 2009
Acquisition date	Dec 2009
Acquisition price plus additions (A$m) Book value (A$m)	48.7 48.7
Market cap rate (%)	8.5
Initial yield (%)	9.3
Discount rate (%)	10.5
Average passing rent (A$/m2)	142.57
Average market rent (A$/m2)	140.00
Leased by area (%)	100
Weighted lease term by income (years)	5.73

LEASE MATURITY (%)

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Year 2010Year 2011Year 2012Year 2013Year 2014Year 2015Year 2016Year 2017Year 2018Year 2019+
60%
40%
0% 0% 0% 0% 0% 0% 0% 0%
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12 DEXUS ProPErTY GroUP SYDNEY INDUSTRIAL PROPERTY TOUR

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M1
M1
Maroubra
Botany
Matraville
Brighton-Le-Sands
Port Botany Expansion Port
(under construction) Botany
16
0 500 1000 1500 2000 Botany Bay
Metres
Airport Dr
Beauchamp Rd
Franklin St
Foreshore Rd
Botany Rd
Wentworth Ave
Military Rd
Princes Hwy
Anzac Pde
Bunnerong Rd
The Grand Parade
Anzac Pde
Bumborah Point Rd
Bunnerong Rd
Denison St
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NOTES

DEXUS ProPErTY GroUP SYDNEY INDUSTRIAL PROPERTY TOUR 13

145-151 arThUr STrEET FLEMInGTon

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Flemington is approximately 16 kilometres west of the Sydney CBD and eight kilometres east of Parramatta. The property enjoys good exposure and access to Arthur Street and major traffic arteries in Western Sydney including Centenary Drive, Great Western Highway, M4 Motorway, Silverwater and St Hilliers Roads.

PROPERTY DETAILS

PROPERTY DETAILS
Building type	Business Park
Title	Freehold
Site area (ha)	3.2
Lettable area (‘000 m2)	19.2
Number of buildings	2
Car parking spaces	401
Metro area	Sydney, Inner West
Zoning	Industrial 4
Site Coverage (%)	60
Number of units	9
Average unit size (‘000 m2)	2.1
MAjOR TENANTS
Acer Computer Australia	29%
RIC	23%
AWA Limited	21%

KEY STATISTICS AT 31 DECEMBER 2009

KEY STATISTICS AT 31 DECEMBER 2009
Acquisition date	Sep 1997
Acquisition price plus additions (A$m)	25.2
Independent valuation date	Jun 2009
Independent valuation (A$m)	30.8
Book value (A$m)	30.8
Market cap rate (%)	8.8
Initial yield (%)	10.0
Discount rate (%)	10.0
Average passing rent (A$/m2)	151.31
Average market rent (A$/m2)	133.52
Leased by area (%)	83
Weighted lease term by income (years)	2

LEASE MATURITY (%)

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Year 2010Year 2011Year 2012Year 2013Year 2014Year 2015Year 2016Year 2017Year 2018Year 2019+
52%
21%
12%
0% 0% 0% 0% 0% 0% 0%
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14 DEXUS ProPErTY GroUP SYDNEY INDUSTRIAL PROPERTY TOUR

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Bressington
Park
M4
9
0 200 400 600 800
Metres
Arthur St
Railway St
Church St
Vaughan St
Broughton Rd
Beresford Rd
Homebush Bay Dr
Kerrs Rd
Arthur St
Arthur St
Great Western Hwy Underwood Rd
Centenary Dr
Olympic Dr
John St
Bachell Ave
Marlborough Rd
Marlborough Rd
Richmond Rd
Centenary Dr
East St
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NOTES

DEXUS ProPErTY GroUP SYDNEY INDUSTRIAL PROPERTY TOUR 15

GrEYSTanES InDUSTrIaL ESTaTE rEconcILIaTIon roaD GrEYSTanES

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The 47.6 hectare development site is located to the south of the established Greystanes business hub and zoned Employment under SEPP 59. The site has a Part 3A development approval for the construction of approximately 240,000 square metres of industrial accommodation. The Employment Lands Precinct Plan for Greystanes allows a wide range of industrial uses including warehousing, manufacturing, logistics, storage and research and development.

The site has undergone extensive civil works in preparation for development including the installation of roads, power, telecommunications, water and sewerage. Construction has commenced on the first of the industrial facilities as well as the internal infrastructure. The first tenant is scheduled to commence operating from the estate on 1 July 2010.

The site is located at the gateway to western Sydney, with direct access to the M4 Motorway and strategically positioned within five minutes drive of the intersection of the M4 and M7 motorways. Reconciliation Road is on the western side of the site and will provide direct access to Wetherill Park and Sydney’s south western suburbs when extended to Windmere Road in mid 2011. A dedicated bus transit way will service the estate and provide direct links to Liverpool, Parramatta and Blacktown.

PROPERTY DETAILS

PROPERTY DETAILS
Building type	Land
Title	Freehold
Site area (ha)	47.6
Lettable area (‘000m2)1	240
Number of buildings1	19
Metro area	Sydney, Outer West
Zoning	Employment (SEPP 59)

MAjOR TENANTS[2]

MAjOR TENANTS2
EQBD Converting Pty Ltd	8%
Symbion Health	7%
KEY STATISTICS AT 31 DECEMBER 2009
Acquisition date	Dec 2007
Book value ($m)	116.4
Market cap rate2	8.2
Discount rate2	9.8
Average passing rent (A$/m2) 2	137.00
Average market rent (A$/m2) 2	113.00
Leased by area2	100
Weighted lease term by income (years)2	13

LEASE MATURITY (%)[2]

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Year 2010Year 2011Year 2012Year 2013Year 2014Year 2015Year 2016Year 2017Year 2018Year 2019+
100%
0% 0% 0% 0% 0% 0% 0% 0% 0%
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notes

1 Based on the master plan approved by the Minister for Planning under the Part 3A Major Projects approval.
2 Pre-leases currently under construction: EQBD Converting Pty Ltd – estimated lease commencement date 1 July 2010 and Symbion Health – estimated lease commencement date 1 February 2011.

16 DEXUS ProPErTY GroUP SYDNEY INDUSTRIAL PROPERTY TOUR

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M4
Wentworthville
11
Foundation Pl
M4
Greystanes
Old Prospect Rd
Prospect 12
Reservoir
Planned
extension of
Reconciliation Rd
due for completion
by mid 2011
0 500 1000 Merrylands
Hassall St Metres
Merrylands Rd
Merrylands Rd
Great Western Hwy
Great Western Hwy
Reservoir Rd
Reconciliation Rd
Gipps Rd
Toongabbie Rd
Sherwood Rd
Fowler Rd
Pendle Way
Cumberland Hwy
Redfern St
Greystanes Rd
Windmere Rd
Cumberland Rd
Centenary Rd
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NOTES

DEXUS ProPErTY GroUP SYDNEY INDUSTRIAL PROPERTY TOUR 17

DEXUS InDUSTrIaL ESTaTE 1 FoUnDaTIon PLacE GrEYSTanES

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The property is situated in the Greystanes Business Hub which is well located to major arterial routes being less than one kilometre south of the M4 Motorway and six kilometres east of the M7 Motorway. The Greystanes Business Hub is six kilometres west of Parramatta and 26 kilometres west of the Sydney CBD.

PROPERTY DETAILS

PROPERTY DETAILS
Building type	Industrial estate
Title	Freehold
Site area (ha)	5.8
Lettable area (‘000 m2)	30.8
Number of buildings	4
Car parking spaces	278
Metro area	Sydney, Outer West
Zoning	Employment
Site coverage (%)	53
Number of units	5
Average unit size (‘000 m2)	6.2
MAjOR TENANTS
Hitachi Construction Machinery	28%
Allied Pickfords Pty Limited	27%
The Phillips & House Group Pty Ltd	16%

KEY STATISTICS AT 31 DECEMBER 2009

KEY STATISTICS AT 31 DECEMBER 2009
Acquisition date	Feb 2003
Acquisition price plus additions (A$m)	39.3
Independent valuation date	Jun 2008
Independent valuation (A$m)	48.0
Book value (A$m)	41.0
Market cap rate (%)	8.5
Initial yield (%)	9.0
Discount rate (%)	10.0
Average passing rent (A$/m2)	122.97
Average market rent (A$/m2)	115.61
Leased by area (%)	100
Weighted lease term by income (years)	3.69

LEASE MATURITY (%)

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Year 2010Year 2011Year 2012Year 2013Year 2014Year 2015Year 2016Year 2017Year 2018Year 2019+
55%
32%
13%
0% 0% 0% 0% 0% 0% 0%
----- End of picture text -----

18 DEXUS ProPErTY GroUP SYDNEY INDUSTRIAL PROPERTY TOUR

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NOTES

DEXUS ProPErTY GroUP SYDNEY INDUSTRIAL PROPERTY TOUR 19

2 aLSPEc PLacE EaSTErn crEEk

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The premises comprises a modern distribution facility located approximately one kilometre south of the M7/M4 Interchange. Eastern Creek is recognised as a premier industrial precinct in the Sydney metropolitan area.

PROPERTY DETAILS

PROPERTY DETAILS
Building type	Distribution centre
Title	Freehold
Site area (ha)	2.6
Lettable area (‘000 m2)	16.9
Number of buildings	1
Car parking spaces	144
Metro area	Sydney, Outer West
Zoning	Employment
Site coverage (%)	65
Number of units	1
Average unit size (‘000 m2)	16.9
MAjOR TENANT
DHL Australia	100%

KEY STATISTICS AT 31 DECEMBER 2009

KEY STATISTICS AT 31 DECEMBER 2009
Acquisition date	Mar 2004
Acquisition price plus additions (A$m)	23.6
Independent valuation date	Dec 2008
Independent valuation (A$m)	24.8
Book value (A$m)	23.3
Market cap rate (%)	8.5
Initial yield (%)	9.0
Discount rate (%)	10.0
Average passing rent (A$/m2)	125.27
Average market rent (A$/m2)	110.00
Leased by area (%)	100
Weighted lease term by income (years)	5.25

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LEASE MATURITY (%)
Year 2010Year 2011Year 2012Year 2013Year 2014Year 2015Year 2016Year 2017Year 2018Year 2019+
100%
0% 0% 0% 0% 0% 0% 0% 0% 0%
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20 DEXUS ProPErTY GroUP SYDNEY INDUSTRIAL PROPERTY TOUR

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M7
Arndell Park
M4
The
Light Horse
Interchange Huntingwood
Eastern Creek
M4
Eastern Creek
Raceway
8
M7
Prospect
0 500 1000 Reservoir
Metres
Great Western Hwy
Wonderland Dr
Reservoir Rd
Alspec Pl
Brabham Rd
Horsley Rd
Wallgrove Rd
Doonside Rd
Ferrers Rd
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NOTES

DEXUS ProPErTY GroUP SYDNEY INDUSTRIAL PROPERTY TOUR 21

kInGS Park InDUSTrIaL ESTaTE 2 varDYS roaD, MaraYonG

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Kings Park Industrial Estate comprises over 68,000 square metres, including ten office/warehouses developed between 1991 and 2006. The buildings range from 2,500 to 27,000 square metres and include major tenants such as VisyPet, Regency Media and Pelikan Artline. The estate is located in Marayong near the Marayong railway station. The property is situated in close proximity to the M7 and M2 motorways.

PROPERTY DETAILS

PROPERTY DETAILS
Building type	Industrial estate
Title	Freehold
Site area (ha)	13.7
Lettable area (‘000 m2)	68.9
Number of buildings	10
Car parking spaces	484
Metro area	Sydney, Outer West
Zoning	4(a) General Industrial
Site coverage (%)	50
Number of units	12
Average unit size (‘000 m2)	5.7
MAjOR TENANTS
VisyPet Pty Ltd	38%
Regency Media Pty Ltd	12%
Pelikan Artline Pty Ltd	12%

KEY STATISTICS AT 31 DECEMBER 2009

KEY STATISTICS AT 31 DECEMBER 2009
Acquisition date	May 1990
Acquisition price plus additions (A$m)	81.1
Independent valuation date	Dec 2009
Independent valuation (A$m)	88.0
Book value (A$m)	88.0
Market cap rate (%)	8.75
Initial yield (%)	9.0
Discount rate (%)	10.0
Average passing rent (A$/m2)	120.08
Average market rent (A$/m2)	109.17
Leased by area (%)	100
Weighted lease term by income (years)	2.26

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LEASE MATURITY (%)
Year 2010Year 2011Year 2012Year 2013Year 2014Year 2015Year 2016Year 2017Year 2018Year 2019+
49%
36%
9%
5%
1% 0% 0% 0% 0% 0%
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22 DEXUS ProPErTY GroUP SYDNEY INDUSTRIAL PROPERTY TOUR

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Quakers Hill
M7
Bella Vista
Glenwood
Kings Park M7
14
Woodcroft
Ashlar
Golf
Course
0 500 1000
Metres
Vardys Rd
Quakers Rd Norwest Bvd
Richmond Rd
Vardys Rd
Sunnyholt Rd
Old Windsor Rd
Sunnyholt Rd
Davis Rd
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NOTES

DEXUS ProPErTY GroUP SYDNEY INDUSTRIAL PROPERTY TOUR 23

DEXUS MELboUrnE InDUSTrIaL PorTFoLIo

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Derrimut
6 & 7
Laverton
North
M1
Werribee
M1
Lara
5
Geelong
24 DEXUS ProPErTY GroUP SYDNEY INDUSTRIAL PROPERTY TOUR
Port Arlington Rd
Melton Hwy
Patullos Rd
Western Fwy
Princes Fwy
Western Fwy
Princes Fwy
Ballan Rd
Calder Fwy
Old Melbourne Rd
Derrimut Rd
Forest Rd
Bacchus Marsh Rd
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1 Target Distribution Centre, Tarras Road, Altona North

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Somerton
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2 114 Fairbank Road, Clayton 3 Pound Road West, Dandenong

M31

Tullamarine

1 M1 Altona North

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Lalor
Northern Ring Rd
Hume Fwy
Hume Hwy
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Eastern Fwy

MELBOURNE

4 Knoxfield Industrial Estate, Henderson Road, Knoxfield
5 250 Forest Road South, Lara
6 DEXUS Industrial Estate, Boundary Road, Laverton North (including 440 Doherty’s Road)
7 12-18 Distribution Drive, Laverton North
8 Axxess Corporate Park, Cnr Ferntree Gully & Gilby Roads, Mount Waverley

Key industrial markets Supporting industrial corridors Detailed map available on property pages

Mt Waverley

Knoxfield

Port Phillip

8 Clayton 2

Dandenong 3 Lynbrook

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0 1 2 3 4 5
Kilometres
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Frankston
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DEXUS ProPErTY GroUP SYDNEY INDUSTRIAL PROPERTY TOUR

LavErTon InDUSTrIaL ESTaTE boUnDarY roaD LavErTon norTh

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The property is located in Laverton North, approximately 17 kilometres to the east of the Melbourne CBD and ports. The site is within close proximity to the Western Ring Road which is accessed via the interchange at Boundary Road approximately three kilometres to the east and the interchange at Fitzgerald Road approximately three kilometres to the north.

PROPERTY DETAILS

PROPERTY DETAILS
Building type	Distribution centre
Title	Freehold
Site area (ha)	122
Lettable area (‘000 m2)	86
Number of buildings	4
Metro area	Melbourne, West
Zoning	Industrial 2
Number of units	4
Average unit size (‘000 m2)	22
MAjOR TENANTS
Foster’s Australia Limited	46%
Visy Steel Products Pty Ltd	27%
Best Bar Pty Ltd	17%

KEY STATISTICS AT 31 DECEMBER 2009

KEY STATISTICS AT 31 DECEMBER 2009
Acquisition date	Nov 2006
Acquisition price plus additions (A$m)	142.0
Independent valuation date	Dec 2009
Independent valuation (A$m)	136.0
Book value (A$m)	136.0
Market cap rate (%)	8.8
Discount rate (%)	11.0
Average passing rent (A$/m2)	62.18
Average market rent (A$/m2)	65.0
Leased by area (%)	100
Weighted lease term by income (years)	8

LEASE MATURITY (%)

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Year 2010Year 2011Year 2012Year 2013Year 2014Year 2015Year 2016Year 2017Year 2018Year 2019+
46%
27%
17%
10%
0% 0% 0% 0% 0% 0%
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26 DEXUS ProPErTY GroUP SYDNEY INDUSTRIAL PROPERTY TOUR

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Sunshine
Golf Club
M8
Laverton
North
6
M1
Altona
North
0 500 1000 1500 2000 M1
Metres
West Gate Fwy
Western Fwy
Boundary Rd
Dohertys Rd
Somerville Rd
Princes Hwy
Princes Fwy
Little Boundary Rd
Fairbairn Rd
Mount Derrimut Rd
Foundation Rd
Fitzgerald Rd
Western Ring Rd
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NOTES

DEXUS ProPErTY GroUP SYDNEY INDUSTRIAL PROPERTY TOUR 27

12-18 DISTrIbUTIon DrIvE LavErTon norTh

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A recently completed chilled distribution facility within the DEXUS Industrial Estate at Laverton North. The facility provides temperature zones ranging from -1 degree to 25 degrees. Laverton is situated in close proximity to major transport infrastructure including the Western Ring Road, Princess Freeway, Westgate Freeway and the Deer Park Bypass.

PROPERTY DETAILS

PROPERTY DETAILS
Building type	Distribution Centre
Title	Freehold
Co-owner	AXA
Site area (ha)	17
Lettable area (‘000 m2)	43
Number of buildings	1
Metro area	Melbourne, West
Zoning	Industrial 2
Number of units	1
Average unit size (‘000 m2)	43
MAjOR TENANT
Wesfarmers Limited	100%

KEY STATISTICS AT 31 DECEMBER 2009

KEY STATISTICS AT 31 DECEMBER 2009
Acquisition price plus additions (A$m)	52
Book value (A$m)	45
Market cap rate (%)	9.0
Discount rate (%)	11.0
Average passing rent (A$/m2)	194.31
Average market rent (A$/m2)	180.00
Leased by area (%)	100
Weighted lease term by income (years)	12

LEASE MATURITY (%)

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Year 2010Year 2011Year 2012Year 2013Year 2014Year 2015Year 2016Year 2017Year 2018Year 2019+
100%
0% 0% 0% 0% 0% 0% 0% 0% 0%
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28 DEXUS ProPErTY GroUP SYDNEY INDUSTRIAL PROPERTY TOUR

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Sunshine
Golf Club
M8
Laverton
North
7
M1
Altona
North
0 500 1000 1500 2000 M1
Metres
West Gate Fwy
Western Fwy
Boundary Rd
Distribution Dr
Dohertys Rd
Somerville Rd
Princes Hwy
Princes Fwy
Little Boundary Rd
Fairbairn Rd
Mount Derrimut Rd
Foundation Rd
Fitzgerald Rd
Western Ring Rd
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NOTES

DEXUS ProPErTY GroUP SYDNEY INDUSTRIAL PROPERTY TOUR 29

NOTES

30 DEXUS ProPErTY GroUP SYDNEY INDUSTRIAL PROPERTY TOUR

NOTES

DEXUS ProPErTY GroUP SYDNEY INDUSTRIAL PROPERTY TOUR

NOTES

32 DEXUS ProPErTY GroUP SYDNEY INDUSTRIAL PROPERTY TOUR

NOTES

ABOUT DEXUS

DEXUS is one of Australia’s leading property groups specialising in world-class office, industrial and retail properties with total assets under management of $13 billion. In Australia, DEXUS is the Number 1 owner/manager of office, Number 3 in industrial and, on behalf of third party clients, a leading manager and developer of shopping centres.

www.dexus.com

DEXUS ProPErTY GroUP SYDNEY INDUSTRIAL PROPERTY TOUR

www.dexus.com

AI assistant

DEXUS — Investor Presentation 2010

64807_rns_2010-05-04_fabe843d-72fb-4a5a-9874-08723ab639cf.pdf

About DEXUS

2010

DEXUS InDUSTrIaL PorTFoLIo

PorTFoLIo aT a GLancE

kEY InDUSTrIaL MarkETS

SYDnEY

MELboUrnE

DEXUS SYDnEY InDUSTrIaL ToUr

5-13 roSEbErY avEnUE roSEbErY

PROPERTY DETAILS

KEY STATISTICS AT 31 DECEMBER 2009

NOTES

PROPERTY DETAILS

KEY STATISTICS AT 31 DECEMBER 2009

LEASE MATURITY (%)

NOTES

PROPERTY DETAILS

KEY STATISTICS AT 31 DECEMBER 2009

LEASE MATURITY (%)

NOTES

PROPERTY DETAILS

KEY STATISTICS AT 31 DECEMBER 2009

LEASE MATURITY (%)

NOTES

145-151 arThUr STrEET FLEMInGTon

PROPERTY DETAILS

KEY STATISTICS AT 31 DECEMBER 2009

LEASE MATURITY (%)

NOTES

PROPERTY DETAILS

MAjOR TENANTS[2]

LEASE MATURITY (%)[2]

notes

NOTES

PROPERTY DETAILS

KEY STATISTICS AT 31 DECEMBER 2009

NOTES

2 aLSPEc PLacE EaSTErn crEEk

PROPERTY DETAILS

KEY STATISTICS AT 31 DECEMBER 2009

NOTES

kInGS Park InDUSTrIaL ESTaTE 2 varDYS roaD, MaraYonG

PROPERTY DETAILS

KEY STATISTICS AT 31 DECEMBER 2009

NOTES

DEXUS MELboUrnE InDUSTrIaL PorTFoLIo

Mt Waverley

Knoxfield

LavErTon InDUSTrIaL ESTaTE boUnDarY roaD LavErTon norTh

PROPERTY DETAILS

KEY STATISTICS AT 31 DECEMBER 2009

LEASE MATURITY (%)

NOTES

PROPERTY DETAILS

KEY STATISTICS AT 31 DECEMBER 2009

NOTES

ABOUT DEXUS

More from DEXUS

DEXUS Investor Presentation 2010