GPT GROUP — Annual Report 2019

Feb 9, 2020

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10 February 2020

2019 Annual Result Property Compendium

GPT provides its 2019 Annual Result Property Compendium which is authorised for release by the GPT Group Company Secretary.

-ENDS-

For more information, please contact:

INVESTORS MEDIA Brett Ward Grant Taylor Head of Investor Relations & Corporate Communications Manager Affairs +61 437 994 451 +61 403 772 123

www.gpt.com.au

Level 51, MLC Centre, 19-29 Martin Place, Sydney NSW 2000

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2019 Annual Result 2018 INTERIM Property RESULT Compendium PROPERTY COMPENDIUM

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Contents Retail Portfolio 3 Office Portfolio 28 Logistics Portfolio 75

Retail Portfolio

Annual Result 2019

~~Casuarina Square Northern Territory~~ 4

Casuarina Square, Northern Territory

Casuarina Square is the dominant shopping destination in Darwin and the Northern Territory. The centre is located in the northern suburbs of Darwin, a 15 minute drive from Darwin’s Central Business District (CBD) and 20 minutes from the satellite town of Palmerston.

The centre incorporates 198 tenancies including two discount department stores, two supermarkets, cinema and entertainment offer. The centre is also complemented by a 303 bed student accommodation facility operated by Unilodge.

Casuarina Square is home to one of Australia’s largest solar rooftop systems after installation of the 1.25MW (megawatt) system in 2015.

Key Metrics as at 31 December 2019

General

Ownership Interest GPT: 50%, GWSCF: 50% Acquired GPT: October 1973 GWSCF: June 2012 Asset Type Regional Centre Construction Completed 1973 Latest Refurbishment/Development 2016 (Entertainment and Leisure Precinct)

Centre Details
Total GLA		54,900 sqm
Number of Tenancies		198
Car Parking Spaces		2,456
Retail Occupancy		98.6%

	Current Valuation
	Fair Value1 Capitalisation Rate2		GPT: $248.0m GWSCF: $248.0m 6.00%
	Valuation Type		Independent
	Sales Information
			TotalCentre		Specialties
	Sales Turnover per Square Metre		$7,356		$9,844
	Occupancy Costs		11.4%		18.0%
	Annual Centre Turnover		$357.5m
	Key Tenants
			Area (sqm)
	Kmart		7,450
	Big W		6,130
	Woolworths		5,020
	BCC Cinemas		4,120
	Coles		3,750

Sustainability

Note: Comprehensive sustainability data, including asset-level reporting, is available at gpt.com.au/sustainability. Data is current to 31 December 2019 and as presented for assurance, according to Global Reporting Initiative (GRI) Sustainability Reporting Standards and the Greenhouse Gas Protocol.

1. Includes retail and student accommodation. 2. Retail component only.

5

~~Charlestown Square New South Wales~~

6

Charlestown Square, New South Wales

Charlestown Square is the largest shopping and entertainment destination in the Newcastle and Hunter region. It is the dominant asset in the region, attracting over 13 million visitations per annum.

The Centre incorporates 281 tenancies including a Myer department store, two discount department stores, three supermarkets and a Reading Cinema complex. In addition, the centre includes international retailers H&M, Sephora and Apple.

In 2019, the Centre launched "The Corner" dining precinct featuring several well known local food and beverage retailers, complementing the Centre's existing dining and leisure offer.

Key Metrics as at 31 December 2019

General

Ownership Interest GPT: 100% Acquired December 1977 Asset Type Super Regional Centre Construction Completed 1979 Latest Refurbishment/Development 2019 ("The Corner" Dining Precinct)

Current Valuation Fair Value $1,003.0m Capitalisation Rate 5.25% Valuation Type Internal

Centre Details

Total GLA 94,900 sqm Number of Tenancies 281 Car Parking Spaces 3,419 Retail Occupancy 99.5%

Sales Information

	Sales Information
			TotalCentre		Specialties
	Sales Turnover per Square Metre		$6,737		$11,917
	Occupancy Costs		11.0%		15.5%
	Annual Centre Turnover		$562.2m
	Key Tenants
			Area (sqm)
	Myer		11,500
	Big W		7,750
	Target		5,590
	Woolworths		4,800
	Reading Cinemas		4,580
	Coles		4,320
	Aldi		1,450

Sustainability

Note: Comprehensive sustainability data, including asset-level reporting, is available at gpt.com.au/sustainability. Data is current to 31 December 2019 and as presented for assurance, according to Global Reporting Initiative (GRI) Sustainability Reporting Standards and the Greenhouse Gas Protocol.

7

~~Highpoint Shopping Centre Victoria~~

8

Highpoint Shopping Centre, Victoria

Highpoint Shopping Centre is located in Maribyrnong, eight kilometres north-west of the Melbourne CBD and is one of Australia’s leading retail destinations.

Highpoint is one of the largest shopping centres in Australia and incorporates 453 tenancies including western Melbourne’s only David Jones, Myer department store, two discount department stores, Woolworths supermarket, a Hoyts cinema and entertainment offer. The centre also includes several international retailers including Zara, Apple, Uniqlo and Sephora. The centre provides an exciting retail experience for customers providing the western region of Melbourne with an extensive retail, entertainment and lifestyle offer.

Key Metrics as at 31 December 2019

General

Ownership Interest GPT: 16.67%, GWSCF: 83.33% Acquired GPT: August 2009 GWSCF: March 2007 Asset Type Super Regional Centre Construction Completed 1975 Latest Refurbishment/Development 2013 – Major Expansion

Current Valuation Fair Value GPT: $412.5m GWSCF: $2,062.5m Capitalisation Rate 4.25% Valuation Type Independent

Centre Details Total GLA 150,900 sqm Number of Tenancies 453 Car Parking Spaces 7,276 Retail Occupancy 99.2%

Sales Information

	Sales Information
			TotalCentre		Specialties
	Sales Turnover per Square Metre		$7,452		$11,511
	Occupancy Costs		12.9%		19.0%
	Annual Centre Turnover		$1,032.1m
	Key Tenants
			Area (sqm)
	Myer		19,120
	David Jones		13,760
	Target		9,920
	Hoyts		9,030
	Big W		8,160
	Woolworths		4,240

Sustainability

Note: Comprehensive sustainability data, including asset-level reporting, is available at gpt.com.au/sustainability. Data is current to 31 December 2019 and as presented for assurance, according to Global Reporting Initiative (GRI) Sustainability Reporting Standards and the Greenhouse Gas Protocol.

9

~~Melbourne Central Victoria~~

10

Melbourne Central, Victoria

Melbourne Central is a landmark office and retail property, located in the Melbourne CBD. Surrounding the historic Shot Tower, Melbourne Central features a range of fashion retailers as well as a vibrant entertainment precinct including a Hoyts cinema complex.

Incorporating 301 tenancies, the shopping centre covers two city blocks and is conveniently located directly above Melbourne Central train station.

This urban shopping centre attracts a wide variety of customers including CBD workers, tourists, students and residents from the inner ring suburbs of Melbourne.

Key Metrics as at 31 December 2019

General Ownership Interest GPT: 100% Acquired May 1999 Asset Type City Centre Construction Completed 1991 Latest Refurbishment/Development 2019 (ELLA – Dining Precinct)

Current Valuation Fair Value[1] $1,618.0m Capitalisation Rate[2] 4.50% Valuation Type Independent

Centre Details Total GLA 56,300 sqm Number of Tenancies 301 Car Parking Spaces 822 Retail Occupancy 100.0%

Sales Information

Total Centre Specialties Sales Turnover per Square Metre $11,776 $13,837 Occupancy Costs 14.1% 18.5% Annual Centre Turnover $587.5m Key Tenants Area (sqm) Hoyts 7,710 Coles 1,310

Sustainability

Note: Comprehensive sustainability data, including asset-level reporting, is available at gpt.com.au/sustainability. Data is current to 31 December 2019 and as presented for assurance, according to Global Reporting Initiative (GRI) Sustainability Reporting Standards and the Greenhouse Gas Protocol.

1. Includes retail and car park. 2. Retail only.

11

~~Rouse Hill Town Centre New South Wales~~

12

Rouse Hill Town Centre, New South Wales

Rouse Hill Town Centre is located approximately 45km north-west of the Sydney CBD in one of Australia's strongest growth markets.

Rouse Hill Town Centre combines the traditional principles and streetscape of a contemporary market town centre with the latest shopping, dining and lifestyle choices incorporating 251 tenancies including two discount department stores, two supermarkets and a cinema/entertainment precinct.

The asset is now also capturing further benefits from the recently opened North West Metro Train with the Rouse Hill Station sitting adjacent to the Town Centre.

Key Metrics as at 31 December 2019

General

Ownership Interest GPT: 100% Acquired Stage 1: September 2007 Stage 2: March 2008 Asset Type Regional Centre Construction Completed 2008

Current Valuation

Fair Value $680.2m Capitalisation Rate 5.50% Valuation Type Independent

Centre Details

Total GLA 69,700 sqm Number of Tenancies 251 Car Parking Spaces 2,621 Retail Occupancy 99.9%

Sales Information

Total Centre Specialties Sales Turnover per Square Metre $7,739 $10,138 Occupancy Costs 9.2% 13.6% Annual Centre Turnover $477.4m

Key Tenants

Key Tenants
	Area (sqm)
Big W	8,560
Target	6,820
Reading Cinemas	5,780
Woolworths	4,610
Coles	4,120

Sustainability

Note: Comprehensive sustainability data, including asset-level reporting, is available at gpt.com.au/sustainability. Data is current to 31 December 2019 and as presented for assurance, according to Global Reporting Initiative (GRI) Sustainability Reporting Standards and the Greenhouse Gas Protocol.

13

~~Sunshine Plaza Queensland~~ 14

Sunshine Plaza, Queensland

Sunshine Plaza is located in Maroochydore on Queensland’s Sunshine Coast.

In March 2019, a $430 million redevelopment was completed which introduced over 100 specialty stores, David Jones, Big W featuring over 40 new retail brands to the market including H&M and Sephora.

The centre is the pre-eminent retail and leisure destination on the Sunshine Coast, incorporating 332 tenancies including two department stores, three discount department stores and two full line supermarkets and complemented by a strong entertainment, leisure and lifestyle offer including a 12 screen Birch Carroll and Coyle cinema complex. Sunshine Plaza is owned jointly with Australian Prime Property Fund Retail and is managed by Lendlease.

Key Metrics as at 31 December 2019

General Current Valuation Ownership Interest GPT: 50% Fair Value $683.5m Co-Owner Australian Prime Property Fund Retail: 50% Capitalisation Rate 4.75% Acquired (by GPT) December 1992 Valuation Type Independent Asset Type Super Regional Centre Construction Completed 1994 Latest Refurbishment/Development 2019 (Centre Expansion)

Centre Details
Total GLA		107,700 sqm
Number of Tenancies		332
Car Parking Spaces		4,962
Retail Occupancy1		N/A

Sales Information1
		TotalCentre		Specialties
Sales Turnover per Square Metre		$7,086		$10,018
Occupancy Costs		11.9%		18.5%
Annual Centre Turnover		$588.8m
Key Tenants
		Area (sqm)
Myer		12,890
David Jones		8,000
Big W		6,500
Target		6,920
Kmart		6,590
Coles		5,850
BCC Cinemas		4,690
Woolworths		3,880

Sustainability

Note: Comprehensive sustainability data, including asset-level reporting, is available at gpt.com.au/sustainability. Data is current to 31 December 2019 and as presented for assurance, according to Global Reporting Initiative (GRI) Sustainability Reporting Standards and the Greenhouse Gas Protocol.

1. Development impacted.

15

~~Westfeld Penrith~~

~~New South Wales~~

16

Westfield Penrith, New South Wales

Westfield Penrith is a super-regional shopping centre located in the heart of Penrith, which is approximately a one hour drive west of the Sydney CBD.

The centre incorporates 307 tenancies including the region's only Myer department store, in addition to two discount department stores, a Hoyts Cinema complex and two supermarkets. Westfield Penrith is owned jointly with, and managed by Scentre Group.

Key Metrics as at 31 December 2019

General

Ownership Interest GPT: 50% Co-Owner Scentre Group: 50% Acquired (by GPT) June 1971 Asset Type Super Regional Centre Construction Completed 1971 Latest Refurbishment/Development 2005 (Major Redevelopment)

Centre Details

Total GLA 91,400 sqm Number of Tenancies 307 Car Parking Spaces 3,521 Retail Occupancy 99.8%

	Current Valuation
	Fair Value		$736.0m
	Capitalisation Rate		4.75%
	Valuation Type		Internal
	Sales Information
			TotalCentre		Specialties
	Sales Turnover per Square Metre		$8,233		$12,132
	Occupancy Costs		12.0%		18.8%
	Annual Centre Turnover		$691.0m
	Key Tenants
			Area (sqm)
	Myer		20,110
	Big W		8,740
	Target		7,100
	Hoyts		4,790
	Woolworths		3,800
	Aldi		1,620

Sustainability

Note: Comprehensive sustainability data, including asset-level reporting, is available at gpt.com.au/sustainability. Data is current to 31 December 2019 and as presented for assurance, according to Global Reporting Initiative (GRI) Sustainability Reporting Standards and the Greenhouse Gas Protocol.

17

~~Chirnside Park~~

~~Victoria~~ 18

Chirnside Park, Victoria

Chirnside Park is a regional shopping centre that has been servicing the community of outer eastern Melbourne since 1979. The centre offers customers an extensive selection of stores, with a strong focus on convenience and value-driven fresh food.

Situated approximately 30 kilometres north-east of the Melbourne CBD, Chirnside Park incorporates 119 tenancies including two discount department stores, three supermarkets and an eightscreen Reading Cinema. The centre provides an excellent convenience offer in the north-eastern region of Melbourne.

Key Metrics as at 31 December 2019

General Ownership Interest GWSCF: 100% Acquired March 2007 Asset Type Regional Centre Construction Completed 1979 Latest Refurbishment/Development 2017 (Existing Centre Upgrades)

Current Valuation

Fair Value $320.6m Capitalisation Rate 5.50% Valuation Type Internal

Centre Details

Total GLA 39,000 sqm Number of Tenancies 119 Car Parking Spaces 2,088 Retail Occupancy 99.6%

	Sales Information
			TotalCentre		Specialties
	Sales Turnover per Square Metre		$8,849		$12,187
	Occupancy Costs		7.3%		15.3%
	Annual Centre Turnover		$304.6m
	Key Tenants
			Area (sqm)
	Kmart		8,250
	Target		4,770
	Woolworths		4,180
	Reading Cinemas		3,500
	Coles		3,290
	Aldi		1,520

Sustainability

Note: Comprehensive sustainability data, including asset-level reporting, is available at gpt.com.au/sustainability. Data is current to 31 December 2019 and as presented for assurance, according to Global Reporting Initiative (GRI) Sustainability Reporting Standards and the Greenhouse Gas Protocol.

19

~~Macarthur Square New South Wales~~

20

Macarthur Square, New South Wales

Macarthur Square is located in Campbelltown, 50 kilometres south-west of the Sydney CBD, in an area of strong population growth. The centre provides customers with a unique retail, entertainment and community destination. The centre incorporates 333 tenancies including a department store, two discount department stores, three supermarkets, a variety of specialty stores and a cinema entertainment offer.

In March 2017, the co-owners completed a $240 million re-development of the centre, adding approximately 16,000 square metres to the property including a new full line Coles, Aldi, Harris Scarfe and H&M, in addition to refurbished David Jones, Woolworths and Target stores. The development added approximately 45 specialty stores, a fresh food market hall, new dining offer and improved car parking.

Macarthur Square is jointly owned with Australian Prime Property Fund Retail and is managed by Lendlease.

Key Metrics as at 31 December 2019

General Ownership Interest GWSCF: 50% Co-Owner Australian Prime Property Fund Retail: 50% Acquired (by GWSCF) March 2007 Asset Type Super Regional Centre Construction Completed 1979 Latest Refurbishment/Development 2017 (Centre Expansion)

Current Valuation

Current Valuation
Fair Value	$601.3m
Capitalisation Rate	4.75%
Valuation Type	Internal

Centre Details
Total GLA		107,200 sqm
Number of Tenancies		333
Car Parking Spaces		4,142
Retail Occupancy1		N/A

Sales Information

Sales Information
	TotalCentre		Specialties
Sales Turnover per Square Metre	$6,094		$8,885
Occupancy Costs	11.5%		17.2%
Annual Centre Turnover	$593.8m

Key Tenants

Key Tenants
	Area (sqm)
Big W	8,790
David Jones	6,900
Event Cinemas	6,090
Target	4,450
Coles	4,560
Woolworths	4,190
Aldi	1,510

Sustainability

Note: Comprehensive sustainability data, including asset-level reporting, is available at gpt.com.au/sustainability. Data is current to 31 December 2019 and as presented for assurance, according to Global Reporting Initiative (GRI) Sustainability Reporting Standards and the Greenhouse Gas Protocol.

1. Development Impacted.

21

~~Northland Shopping Centre Victoria~~

22

Northland Shopping Centre, Victoria

Northland Shopping Centre is located in East Preston, approximately 11 kilometres north of Melbourne’s CBD.

The centre incorporates 289 tenancies including a Myer department store, two discount department stores, three supermarkets, a number of international mini-majors and a cinema entertainment offer. The trade area is supported by above average household income levels, and continued infill and high density development which will continue to drive future population growth.

Northland Shopping Centre is jointly owned with, and managed by Vicinity Centres.

Key Metrics as at 31 December 2019

General Ownership Interest GWSCF: 50% Co-Owner Vicinity Centres: 50% Acquired (by GWSCF) May 2014 Asset Type Super Regional Centre Construction Completed 1966 Latest Refurbishment/Development 2014 (Centre Expansion)

Centre Details
Total GLA		97,000 sqm
Number of Tenancies		289
Car Parking Spaces		4,640
Retail Occupancy		99.4%

	Current Valuation
	Fair Value		$494.2m
	Capitalisation Rate		5.25%
	Valuation Type		Internal
	Sales Information
			TotalCentre		Specialties
	Sales Turnover per Square Metre		$6,018		$9,166
	Occupancy Costs		11.6%		17.5%
	Annual Centre Turnover		$549.2m
	Key Tenants
			Area (sqm)
	Myer		18,510
	Target		6,890
	Kmart		6,500
	Hoyts		6,180
	Coles		4,220
	Woolworths		4,030
	Aldi		1,500

Sustainability

Note: Comprehensive sustainability data, including asset-level reporting, is available at gpt.com.au/sustainability. Data is current to 31 December 2019 and as presented for assurance, according to Global Reporting Initiative (GRI) Sustainability Reporting Standards and the Greenhouse Gas Protocol.

23

~~Parkmore Shopping Centre Victoria~~

24

Parkmore Shopping Centre, Victoria

Parkmore Shopping Centre is a regional shopping centre offering an extensive selection of stores and services in a modern and convenient environment. The centre is located approximately 35 kilometres from the Melbourne CBD, in the suburb of Keysborough and has been servicing the eastern suburbs of Melbourne since 1973.

Parkmore Shopping Centre incorporates 127 tenancies including two discount department stores and two supermarkets as well as a strong convenience and service offering.

Key Metrics as at 31 December 2019

General Ownership Interest GWSCF: 100% Acquired March 2007 Asset Type Regional Centre Construction Completed 1973 Latest Refurbishment/Development 2007 (Centre Expansion)

Current Valuation Fair Value $276.9m Capitalisation Rate 6.00% Valuation Type Internal

Centre Details Total GLA 36,800 sqm Number of Tenancies 127 Car Parking Spaces 2,519 Retail Occupancy 100.0%

	Sales Information
			TotalCentre		Specialties
	Sales Turnover per Square Metre		$8,236		$10,044
	Occupancy Costs		7.7%		14.6%
	Annual Centre Turnover		$280.4m
	Key Tenants
			Area (sqm)
	Kmart		8,390
	Big W		6,670
	Coles		3,850
	Woolworths		3,490

Sustainability

Note: Comprehensive sustainability data, including asset-level reporting, is available at gpt.com.au/sustainability. Data is current to 31 December 2019 and as presented for assurance, according to Global Reporting Initiative (GRI) Sustainability Reporting Standards and the Greenhouse Gas Protocol.

25

~~Wollongong Central New South Wales~~

26

Wollongong Central, New South Wales

Wollongong Central is located in the CBD of Wollongong, approximately 90 kilometres south of Sydney.

The centre incorporates 209 tenancies including a David Jones department store, Coles supermarket, Target discount department store, H&M and over 2,100 car spaces.

Key Metrics as at 31 December 2019

General

Ownership Interest GWSCF: 100% Acquired March 2007 Asset Type City Centre Construction Completed 1975 Latest Refurbishment/Development 2017 (David Jones Remix)

Centre Details Total GLA 55,000 sqm Number of Tenancies 209 Car Parking Spaces 2,104 Retail Occupancy[2] N/A

	Current Valuation
	Fair Value1		$458.9m
	Capitalisation Rate		5.75%
	Valuation Type		Independent
	Sales Information2
			TotalCentre		Specialties
	Sales Turnover per Square Metre		$7,716		$8,947
	Occupancy Costs		10.2%		15.6%
	Annual Centre Turnover		$345.5m
	Key Tenants
			Area (sqm)
	David Jones		8,120
	Coles		4,080
	Target		2,640

Sustainability

Note: Comprehensive sustainability data, including asset-level reporting, is available at gpt.com.au/sustainability. Data is current to 31 December 2019 and as presented for assurance, according to Global Reporting Initiative (GRI) Sustainability Reporting Standards and the Greenhouse Gas Protocol.

1. Includes ancillary properties. 2. Development impacted.

27

Office Portfolio

Annual Result 2019

~~Australia Square 264 George Street, Sydney~~ 29

Australia Square, 264 George Street, Sydney

An iconic Sydney landmark, Australia Square is situated in the core of Sydney’s CBD, spanning George, Bond and Pitt Streets, and Curtin Place. The complex comprises the 48 level circular tower building, the adjacent 13 level plaza building, the O Bar revolving restaurant, a substantial car park and an external plaza courtyard.

Key Metrics as at 31 December 2019

General				Current Valuation
Ownership Interest		GPT: 50%		Fair Value		$593.5m
Co-Owner		Dexus: 50%		Capitalisation Rate		4.78%
Acquired (by GPT)		September 1981		Valuation Type		Independent
Asset Quality		A-Grade
Construction/Refurbishment		Completed 1967/Refurbished 2004
Property Details				Ofce Occupancy
Ofce		51,700 sqm		Actual		92.9%
Retail		1,700 sqm		Including Signed Leases		96.2%
Car Parking Spaces		376		Including Heads of Agreement		99.7%
Typical Floor Plate		1,030 sqm
Ofce Tenant Details				Key Tenants
Number of Ofce Tenants		86				Area (sqm)
WALE (by income)		3.4 years		HWL Ebsworth		7,230
				Dexus		4,440

Lease Expiry Profile (by Income)

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21%
17%
15% 15% 15%
14%
3%
0% 0% 0% 0%
2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030+
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Sustainability

The Tower at Australia Square has achieved a 5.0 star NABERS Energy rating (including GreenPower) and a 4.0 star NABERS Water rating, with the Plaza achieving a 5.5 star NABERS Energy rating and a 4.0 star NABERS Water rating. Together they have achieved a 4.0 star NABERS Waste rating.

Note: Comprehensive sustainability data, including asset-level reporting, is available at gpt.com.au/sustainability. Data is current to 31 December 2019 and as presented for assurance, according to Global Reporting Initiative (GRI) Sustainability Reporting Standards and the Greenhouse Gas Protocol.

30

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2 Park Street
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~~Sydney~~ 31

2 Park Street, Sydney

2 Park Street is a landmark Premium Grade office building located on the corner of George and Park Streets, in Sydney’s CBD. Completed in 2000, the 47 level building has large, highly efficient floor plates and upper levels that command panoramic city and harbour views. The asset is connected to a four level retail podium which has access to Town Hall Station, offering easy access to public transport to all areas of the Sydney CBD.

Key Metrics as at 31 December 2019

General
Ownership Interest		GPT: 50%
Co-Owner		Charter Hall Ofce Trust: 50%
Acquired (by GPT)		December 2001
Asset Quality		Premium Grade
Construction/Refurbishment		Completed 2000
Property Details
Ofce		73,300 sqm
Retail		500 sqm
Car Parking Spaces		270
Typical Floor Plate		1,770 sqm
Ofce Tenant Details
Number of Ofce Tenants		31
WALE (by income)		4.0 years

Current Valuation
Fair Value		$795.0m
Capitalisation Rate		4.75%
Valuation Type		Independent
Ofce Occupancy
Actual		98.3%
Including Signed Leases		99.2%
Including Heads of Agreement		99.2%
Key Tenants
		Area(sqm)
Amazon Web Services		20,130
Citibank		13,280

Lease Expiry Profile (by Income)

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34%
25%
12%
11% 11%
4%
3%
0% 0% 0% 0%
2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030+
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Sustainability

2 Park Street has achieved a 5.0 star NABERS Energy rating (including GreenPower), a 4.0 star NABERS Water rating and a 4.0 star NABERS Waste rating. 2 Park Street has been awarded a 5 star Green Star – Performance rating by the Green Building Council of Australia.

Note: Comprehensive sustainability data, including asset-level reporting, is available at gpt.com.au/sustainability. Data is current to 31 December 2019 and as presented for assurance, according to Global Reporting Initiative (GRI) Sustainability Reporting Standards and the Greenhouse Gas Protocol.

32

~~Governor Phillip & Governor Macquarie Towers~~

~~1 Farrer Place, Sydney~~

33

Governor Phillip & Governor Macquarie Towers, 1 Farrer Place, Sydney

Governor Phillip Tower and Governor Macquarie Tower collectively make up the One Farrer Place complex located in Sydney’s financial core.

The complex consists of 84,400 sqm of Premium Grade office accommodation comprising Governor Phillip Tower, a 53,700 sqm office building; Governor Macquarie Tower, a 29,500 sqm office building; Phillip Street Terraces, being five restored historic terraces totalling 1,200 sqm; and nine levels of basement parking for over 650 cars.

Key Metrics as at 31 December 2019

General Current Valuation Ownership Interest GPT: 25% Fair Value $601.8m Co-Owners Dexus: 50%, APPF Commercial: 25% Capitalisation Rate 4.39% Acquired (by GPT) December 2003 Valuation Type Independent Asset Quality Premium Grade Construction/Refurbishment Completed 1993/1994 Property Details Office Occupancy Office 84,400 sqm Actual 99.5% Retail 800 sqm Including Signed Leases 99.5% Car Parking Spaces 654 Including Heads of Agreement 99.5% Typical Floor Plate GPT: 1,450 sqm, GMT: 1,240 sqm Office Tenant Details Key Tenants Number of Office Tenants 101 Area (sqm) WALE (by income) 4.6 years King & Wood Mallesons 11,020 Minter Ellison 10,980

Lease Expiry Profile (by Income)

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22%
21%
15%
13%
10%
9%
4% 4%
3%
0% 0%
2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030+
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Sustainability

Governor Phillip and Governor Macquarie Towers have both achieved a 5.0 star NABERS Energy rating (including GreenPower). Together they have achieved a 3.5 star NABERS Water rating and a 3.5 star NABERS Waste rating.

Note: Comprehensive sustainability data, including asset-level reporting, is available at gpt.com.au/sustainability. Data is current to 31 December 2019 and as presented for assurance, according to Global Reporting Initiative (GRI) Sustainability Reporting Standards and the Greenhouse Gas Protocol.

34

~~Darling Park 1 & 2 and Cockle Bay Wharf 201 Sussex Street, Sydney~~ 35

Darling Park 1 & 2 and Cockle Bay Wharf, 201 Sussex Street, Sydney

Darling Park is a landmark commercial and retail complex located in Sydney’s popular Darling Harbour precinct. The asset comprises two Premium Grade office buildings and a retail and entertainment complex, known as Cockle Bay Wharf.

The towers and Cockle Bay Wharf are connected by plazas, galleries and business lounges. Darling Park provides its tenants with a complete environment, including the crescent gardens, waterfront restaurants and cafes, and large, efficient, column-free floor plates with expansive water views.

Key Metrics as at 31 December 2019

General

Ownership Interest GPT: 25% GWOF: 50% Co-Owners AWOF: 25% Acquired GPT: August 2019 GWOF: July 2006 Asset Quality Premium Grade Construction/Refurbishment Tower 1: Completed 1994 Tower 2: Completed 1999/Refurbished 2018 Property Details Office 101,900 sqm Retail 9,800 sqm Car Parking Spaces 670 Typical Floor Plate 1,900 sqm Office Tenant Details Number of Office Tenants 11 WALE (by income) DP1: 4.0 years, DP2: 8.7 years

Current Valuation

Fair Value GPT: $544.4m GWOF: $1,088.8m Capitalisation Rate DP1: 5.00% DP2: 5.00% Valuation Type Independent Office Occupancy Actual DP1: 100%, DP2: 96.2% Including Signed Leases DP1: 100%, DP2: 96.2% Including Heads of Agreement DP1: 100%, DP2: 100.0% Key Tenants Area (sqm) CBA 52,170 IAG 30,670

Lease Expiry Profile (by Income)

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59%
2%
15%
33% 34% 34%
9% 9%
4%
2% 0% 0%
2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030+
DP1 DP2
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Sustainability

Darling Park Tower 1 has achieved a 5.5 star NABERS Energy rating (including GreenPower) a 3.5 star NABERS Water rating, and a 2.0 star NABERS Waste rating. Darling Park Tower 2 has achieved a 6.0 star NABERS Energy rating (including GreenPower), a 3.5 star NABERS Water rating and a 2.5 star NABERS Waste rating.

Note: Comprehensive sustainability data, including asset-level reporting, is available at gpt.com.au/sustainability. Data is current to 31 December 2019 and as presented for assurance, according to Global Reporting Initiative (GRI) Sustainability Reporting Standards and the Greenhouse Gas Protocol.

36

~~Eclipse Tower~~

~~60 Station Street, Parramatta~~ 37

Eclipse Tower, 60 Station Street, Parramatta

60 Station Street, also known as ‘Eclipse Tower’, is an A-Grade office building located approximately 22 kilometres west of the Sydney CBD in Parramatta. The property is situated in close proximity to Parramatta Square, Parramatta train station and bus interchange and Westfield Parramatta.

Key Metrics as at 31 December 2019

General				Current Valuation
Ownership Interest		GPT: 100%		Fair Value		$282.0m
Acquired		September 2018		Capitalisation Rate		5.13%
Asset Quality		A-Grade		Valuation Type		Independent
Construction/Refurbishment		2012
Property Details				Ofce Occupancy
Ofce		25,100 sqm		Actual		100.0%
Retail		600 sqm		Including Signed Leases		100.0%
Car Parking Spaces		145		Including Heads of Agreement		100.0%
Typical Floor Plate		1,320 sqm
Ofce Tenant Details				Key Tenants
Number of Ofce Tenants		5				Area (sqm)
WALE (by income)		2.8 years		QBE		11,910
				Deloitte		5,290

Lease Expiry Profile (by Income)

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68%
27%
6%
0% 0% 0% 0% 0% 0% 0% 0%
2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030+
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Sustainability

The property comprises a 19 level modern office building with a 5.0 star NABERS Energy rating and a 4.0 star NABERS Water rating.

Note: Comprehensive sustainability data, including asset-level reporting, is available at gpt.com.au/sustainability. Data is current to 31 December 2019 and as presented for assurance, according to Global Reporting Initiative (GRI) Sustainability Reporting Standards and the Greenhouse Gas Protocol.

38

~~4 Murray Rose Avenue Sydney Olympic Park~~

39

4 Murray Rose Avenue, Sydney Olympic Park

4 Murray Rose Avenue is an A-Grade office building comprising 15,800 sqm of accommodation over six levels. Located in Sydney Olympic Park, 4 Murray Rose Avenue was developed by GPT and completed in 2018.

Key Metrics as at 31 December 2019

General Ownership Interest GPT: 100% Construction/Refurbishment Completed 2018 Asset Quality A-Grade Property Details Office 15,700 sqm Retail 100 sqm Car Parking Spaces 232 Typical Floor Plate 3,010 sqm Office Tenant Details Number of Office Tenants 3 WALE (by income) 10.4 years

	Current Valuation
	Fair Value		$131.5m
	Capitalisation Rate		5.50%
	Valuation Type		Independent
	Ofce Occupancy
	Actual		80.9%
	Including Signed Leases		80.9%
	Including Heads of Agreement		86.1%
	Key Tenants
			Area (sqm)
	NSW Rural Fire Service		9,290
	Toyota		2,530

Lease Expiry Profile (by Income)

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26%
0% 0% 0% 0% 0% 0% 0% 0% 0%
2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030+
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Sustainability

The building has achieved a 5 star Green Star – Design rating, and is designed to achieve a 5.0 star NABERS Energy rating.

Note: Comprehensive sustainability data, including asset-level reporting, is available at gpt.com.au/sustainability. Data is current to 31 December 2019 and as presented for assurance, according to Global Reporting Initiative (GRI) Sustainability Reporting Standards and the Greenhouse Gas Protocol.

40

~~Melbourne Central Tower 360 Elizabeth Street, Melbourne~~

41

Melbourne Central Tower, 360 Elizabeth Street, Melbourne

Melbourne Central is a landmark office and retail property located in the Melbourne CBD. Melbourne Central Tower is a 51 level, Premium Grade office tower located adjacent to Melbourne Central’s retail component. Completed in 1991, the Tower is dominant in the Melbourne skyline, and is occupied by a broad range of industry groups including banking, insurance and technology.

Key Metrics as at 31 December 2019

General
Ownership Interest		GPT: 100%
Acquired		May 1999
Asset Quality		Premium Grade
Construction/Refurbishment		Completed 1991/Refurbishment underway
Property Details
Ofce		65,500 sqm
Retail		N/A
Car Parking Spaces		N/A
Typical Floor Plate		1,480 sqm
Ofce Tenant Details
Number of Ofce Tenants		39
WALE (by income)		5.4 years

Current Valuation
Fair Value		$696.5m
Capitalisation Rate		4.88%
Valuation Type		Independent
Ofce Occupancy
Actual		98.4%
Including Signed Leases		99.6%
Including Heads of Agreement		99.6%
Key Tenants
		Area (sqm)
NBN Co		14,310
Members Equity Bank		13,970

Lease Expiry Profile (by Income)

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25%
22%
13%
9% 9%
7% 7%
6%
2%
0% 0%
2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030+
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Sustainability

The building has a 5.5 star NABERS Energy rating (including GreenPower) and a 3.0 star NABERS Water rating.

Note: Comprehensive sustainability data, including asset-level reporting, is available at gpt.com.au/sustainability. Data is current to 31 December 2019 and as presented for assurance, according to Global Reporting Initiative (GRI) Sustainability Reporting Standards and the Greenhouse Gas Protocol.

42

~~181 William & 550 Bourke Streets~~

~~Melbourne~~ 43

181 William & 550 Bourke Streets, Melbourne

181 William Street and 550 Bourke Streets collectively make up the CBW complex, located in the core of Melbourne’s CBD.

The complex comprises 181 William Street, a 26 level office tower; 550 Bourke Street, a 19 level office tower and Goldsbrough Village, a retail precinct comprising an undercover retail plaza and laneway which provides pedestrian access between the two office towers.

Key Metrics as at 31 December 2019

General
Ownership Interest Acquired		GPT: 50%, GWOF: 50% GPT & GWOF: October 2014
Asset Quality		A-Grade
Construction/Refurbishment		Completed 2009
Property Details
Ofce		76,200 sqm
Retail		5,200 sqm
Car Parking Spaces		413
Typical Floor Plate		181 William: 1,920 sqm 550 Bourke: 1,510 sqm
Ofce Tenant Details
Number of Ofce Tenants		13
WALE (by income)		4.1 years

Current Valuation

Current Valuation
Fair Value		GPT: $404.0m
		GWOF: $404.0m
Capitalisation Rate		5.00%
Valuation Type		Independent
Ofce Occupancy
Actual		97.5%
Including Signed Leases		100.0%
Including Heads of Agreement		100.0%
Key Tenants
		Area (sqm)
IAG		24,750
Deloitte		23,080

Lease Expiry Profile (by Income)

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25%
20%
9%
4%
3% 3%
0% 0% 0% 0%
2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030+
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Sustainability

Both 181 William Street and 550 Bourke Street achieved 5 star Green Star – Design and As Built ratings. 181 William Street has achieved a 6.0 Star NABERS Energy rating (including GreenPower) and a 6.0 star NABERS IE rating, and 550 Bourke Street has achieved a 5.5 Star NABERS Energy rating (including GreenPower) and a 3.5 star NABERS IE rating. Together, they have achieved a 3.5 star NABERS Water rating and a 2.0 star NABERS Waste rating.

Note: Comprehensive sustainability data, including asset-level reporting, is available at gpt.com.au/sustainability. Data is current to 31 December 2019 and as presented for assurance, according to Global Reporting Initiative (GRI) Sustainability Reporting Standards and the Greenhouse Gas Protocol.

44

~~One One One Eagle Street~~

~~Brisbane~~

45

One One One Eagle Street, Brisbane

One One One Eagle Street is a Premium Grade, 54 level office tower in Brisbane’s prime commercial ‘Golden Triangle’ precinct. The tower is designed to take advantage of the outstanding location and Brisbane River views.

Key Metrics as at 31 December 2019

General Ownership Interest GPT: 33.33% GWOF: 66.67% Acquired GPT: October 2008 GWOF: October 2008 (33.33%), December 2016 (33.33%) Asset Quality Premium Grade Construction/Refurbishment Completed 2012 Property Details Office 63,800 sqm Retail 400 sqm Car Parking Spaces 114 Typical Floor Plate 1,450 sqm Office Tenant Details Number of Office Tenants 25 WALE (by income) 5.8 years

Current Valuation Fair Value GPT: $303.0m GWOF: $606.0m Capitalisation Rate 5.00% Valuation Type Independent Office Occupancy Actual 100.0% Including Signed Leases 100.0% Including Heads of Agreement 100.0% Key Tenants Area (sqm) EY 9,000 Arrow Energy 8,970

Lease Expiry Profile (by Income)

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22%
12%
9%
7% 8%
5% 5%
4%
0% 0%
2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030+
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Sustainability

One One One Eagle Street has achieved the highest rating available, a 6 star Green Star – Design and As Built rating from the Green Building Council of Australia. The building has also achieved a 6.0 star NABERS Energy rating (including GreenPower) and 4.0 star NABERS Water rating. The building uses a mixture of energy efficiency, renewable energy purchase and on-site energy generation to lower its greenhouse gas emissions.

Note: Comprehensive sustainability data, including asset-level reporting, is available at gpt.com.au/sustainability. Data is current to 31 December 2019 and as presented for assurance, according to Global Reporting Initiative (GRI) Sustainability Reporting Standards and the Greenhouse Gas Protocol.

46

~~Liberty Place 161 Castlereagh Street, Sydney~~ 47

Liberty Place, 161 Castlereagh Street, Sydney

Liberty Place is a Premium Grade office complex in the heart of the Sydney CBD comprising ANZ Tower, Legion House, 167 Castlereagh Street, an outdoor retail plaza and a car park. The 42 level ANZ Tower features unrivalled harbour and city views and incorporates a dual street frontage, connecting Castlereagh and Pitt Streets.

Key Metrics as at 31 December 2019

General
Ownership Interest		GWOF: 50%
Co-Owner		ISPT: 50%
Acquired (by GWOF)		April 2010
Asset Quality		Premium Grade
Construction/Refurbishment		Completed 2013
Property Details
Ofce		56,500 sqm
Retail		2,900 sqm
Car Parking Spaces		144
Typical Floor Plate		1,630 sqm
Ofce Tenant Details
Number of Ofce Tenants		9
WALE (by income)		8.4 years

Current Valuation
Fair Value		$792.5m
Capitalisation Rate		4.38%
Valuation Type		Independent
Ofce Occupancy
Actual		100.0%
Including Signed Leases		100.0%
Including Heads of Agreement		100.0%
Key Tenants
		Area (sqm)
ANZ		28,410
Herbert Smith Freehills		15,560

Lease Expiry Profile (by Income)

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35%
15%
13%
0% 0% 0% 0% 0% 0% 0%
2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030+
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Sustainability

The asset has achieved a 6 star Green Star – Design, As Built and Performance rating, a 6.0 star NABERS Energy rating (including GreenPower), a 4.0 star NABERS Water rating and a 3.0 star NABERS Waste rating. Liberty Place was awarded the Heritage Award at the 2013 API NSW Excellence in Property Awards and in 2014 was awarded ‘Best Building’ in the Office category at the World Architecture Festival in Singapore.

Note: Comprehensive sustainability data, including asset-level reporting, is available at gpt.com.au/sustainability. Data is current to 31 December 2019 and as presented for assurance, according to Global Reporting Initiative (GRI) Sustainability Reporting Standards and the Greenhouse Gas Protocol.

48

~~Darling Park 3 201 Sussex Street, Sydney~~

49

Darling Park 3, 201 Sussex Street, Sydney

The Premium Grade Darling Park 3, the third stage of the Darling Park complex, was completed in November 2005. The 18 level Premium Grade building was the first office tower to be rated a 5.0 star Base Building under the NABERS Energy ratings, the highest rating available at the time.

Key Metrics as at 31 December 2019

General				Current Valuation
Ownership Interest		GWOF: 100%		Fair Value		$595.7m
Acquired		July 2006		Capitalisation Rate		4.88%
Asset Quality		Premium Grade		Valuation Type		Internal
Construction/Refurbishment		Completed 2005/Refurbished 2017
Property Details				Ofce Occupancy
Ofce		29,800 sqm		Actual		100.0%
Retail		30 sqm		Including Signed Leases		100.0%
Car Parking Spaces		137		Including Heads of Agreement		100.0%
Typical Floor Plate		1,500 sqm
Ofce Tenant Details				Key Tenants
Number of Ofce Tenants		8				Area (sqm)
WALE (by income)		5.8 years		Rabobank		7,560
				Dimension Data		5,990

Lease Expiry Profile (by Income)

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30%
26%
20%
19%
5%
0% 0% 0% 0% 0% 0%
2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030+
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Sustainability

Tower 3 has achieved a 5.5 star NABERS Energy rating (including GreenPower), a 3.0 star NABERS Water rating and a 2.0 star NABERS Waste rating.

Note: Comprehensive sustainability data, including asset-level reporting, is available at gpt.com.au/sustainability. Data is current to 31 December 2019 and as presented for assurance, according to Global Reporting Initiative (GRI) Sustainability Reporting Standards and the Greenhouse Gas Protocol.

50

~~580 George Street Sydney~~

51

580 George Street, Sydney

580 George Street comprises an A-Grade office and retail asset prominently located in the midtown precinct of the Sydney CBD. The building comprises 33 office levels and a retail precinct which is linked by a pedestrian underpass to Town Hall Station.

Key Metrics as at 31 December 2019

General
Ownership Interest		GWOF: 100%
Acquired		July 2006
Asset Quality		A-Grade
Construction/Refurbishment		Completed 1988/Refurbished 2002/2015
Property Details
Ofce		37,100 sqm
Retail		4,400 sqm
Car Parking Spaces		141
Typical Floor Plate		1,300 sqm
Ofce Tenant Details
Number of Ofce Tenants		28
WALE (by income)		4.9 years

Current Valuation
Fair Value		$660.0m
Capitalisation Rate		4.88%
Valuation Type		Independent
Ofce Occupancy
Actual		95.3%
Including Signed Leases		99.1%
Including Heads of Agreement		99.1%
Key Tenants
		Area (sqm)
Uber		5,190
Arcadis		4,260

Lease Expiry Profile (by Income)

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26%
20%
19%
12%
11%
5%
4%
2%
1%
0% 0%
2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030+
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Sustainability

580 George Street has achieved a 6.0 star NABERS Energy rating (including GreenPower), a 3.5 star NABERS Water rating and a 4.0 star NABERS Waste rating. 580 George Street was the first building in Australia to be rated with the NABERS Waste tool in 2018, as well as the first to be rated with the NABERS Waste Materials Recovery Score in 2019, recognising its work to understand how materials are recycled and not just diverted from landfill.

Note: Comprehensive sustainability data, including asset-level reporting, is available at gpt.com.au/sustainability. Data is current to 31 December 2019 and as presented for assurance, according to Global Reporting Initiative (GRI) Sustainability Reporting Standards and the Greenhouse Gas Protocol.

52

~~workplace[6]~~

~~48 Pirrama Road, Sydney~~

53

workplace[6] , 48 Pirrama Road, Sydney

workplace[6] is a waterfront A-Grade office building achieving world leading standards in environmental design and resource efficiency. workplace[6] comprises 18,200 sqm of accommodation over six levels. The building, which was developed by GPT, was the first office development to achieve 6 star Green Star ratings for Design and As Built in NSW. The asset features spectacular harbour views, large campus-style floor plates, two levels of basement parking with 135 car spaces and the award-winning Doltone House function centre occupying the waterfront retail.

Key Metrics as at 31 December 2019

General
Ownership Interest		GWOF: 100%
Acquired		December 2007
Asset Quality		A-Grade
Construction/Refurbishment		Completed 2008
Property Details
Ofce		16,300 sqm
Retail		1,900 sqm
Car Parking Spaces		135
Typical Floor Plate		3,620 sqm
Ofce Tenant Details
Number of Ofce Tenants		1
WALE (by income)		8.9 years

Current Valuation
Fair Value		$304.2m
Capitalisation Rate		5.13%
Valuation Type		Internal
Ofce Occupancy
Actual		100.0%
Including Signed Leases		100.0%
Including Heads of Agreement		100.0%
Key Tenants
		Area (sqm)
Google		16,300

Lease Expiry Profile (by Income)

	0%	0%	0%	0%	0%	0%	0%	0% 100%	0%	0% 2030+
	2020	2021	2022	2023	2024	2025	2026	2027 2028	2029

Sustainability

workplace[6] is a Climate Active certified carbon neutral building and creates a positive environmental impact through its energy efficiency, on-site renewable energy generation, off-site renewable electricity purchase and carbon/biodiversity offset investments. It has achieved a 6.0 star NABERS Energy rating (including GreenPower), a 4.5 star NABERS Water rating and a 4.0 star NABERS Waste rating.

Note: Comprehensive sustainability data, including asset-level reporting, is available at gpt.com.au/sustainability. Data is current to 31 December 2019 and as presented for assurance, according to Global Reporting Initiative (GRI) Sustainability Reporting Standards and the Greenhouse Gas Protocol.

54

~~2 Southbank Boulevard~~

~~Melbourne~~ 55

2 Southbank Boulevard, Melbourne

2 Southbank Boulevard is located on the Southbank of the Yarra River in Melbourne. The Premium office tower boasts a contemporary lobby completed in January 2018. The tower also benefits from a piazza which includes a retail area incorporating a café and a supermarket. The tower comprises 37 levels with 53,300 sqm of office accommodation providing CBD and water views.

Key Metrics as at 31 December 2019

General				Current Valuation
Ownership Interest		GWOF: 100%		Fair Value		$672.0m
Acquired		June 2014 (50%), March 2019 (50%)		Capitalisation Rate		4.88%
Asset Quality		Premium		Valuation Type		Independent
Construction/Refurbishment		Completed 2008/Refurbished 2018
Property Details				Ofce Occupancy
Ofce		53,300 sqm		Actual		96.7%
Retail		1,500 sqm		Including Signed Leases		99.2%
Car Parking Spaces		541		Including Heads of Agreement		100.0%
Typical Floor Plate		1,860 sqm
Ofce Tenant Details				Key Tenants
Number of Ofce Tenants		25				Area (sqm)
WALE (by income)		5.7 years		AusNet Services		8,110
				CUB		6,390

Lease Expiry Profile (by Income)

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18%
16%
15%
14%
13%
11%
5%
4% 4%
0% 0%
2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030+
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Sustainability

2 Southbank Boulevard has achieved a 5.5 star NABERS Energy rating (including GreenPower), a 3.5 star NABERS Water rating and a 4.5 star NABERS IE rating. Note: Comprehensive sustainability data, including asset-level reporting, is available at gpt.com.au/sustainability. Data is current to 31 December 2019 and as presented for assurance, according to Global Reporting Initiative (GRI) Sustainability Reporting Standards and the Greenhouse Gas Protocol.

56

~~8 Exhibition Street~~

~~Melbourne~~

57

8 Exhibition Street, Melbourne

Located at the East or ‘Paris’ end of Melbourne’s CBD, 8 Exhibition Street is a Premium Grade office tower. Central to public transport and road systems, the building offers views over The Domain, Royal Botanic Gardens, Southbank and further out towards Port Phillip Bay.

Key Metrics as at 31 December 2019

General
Ownership Interest		GWOF: 50%
Co-Owner		KREIT: 50%
Acquired (by GWOF)		April 2013
Asset Quality		Premium Grade
Construction/Refurbishment		Completed 2005
Property Details
Ofce		44,500 sqm
Retail		100 sqm
Car Parking Spaces		0
Typical Floor Plate		1,620 sqm
Ofce Tenant Details
Number of Ofce Tenants		20
WALE (by income)		4.1 years

Current Valuation
Fair Value		$275.2m
Capitalisation Rate		4.88%
Valuation Type		Internal
Ofce Occupancy
Actual		100.0%
Including Signed Leases		100.0%
Including Heads of Agreement		100.0%
Key Tenants
		Area (sqm)
EY		14,940
Amazon Web Services		4,860

Lease Expiry Profile (by Income)

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40%
15%
12% 12%
10%
6%
5%
1% 0% 0% 0%
2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030+
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Sustainability

Built in 2005, the asset has water and energy efficient systems in place and is a Climate Active certified carbon neutral building that creates a positive environmental impact through its energy efficiency, off-site renewable electricity purchase and carbon/biodiversity offset investments. It has achieved a 6.0 star NABERS Energy rating (including GreenPower), a 3.0 star NABERS Water rating and a 5.0 star NABERS IE Rating.

Note: Comprehensive sustainability data, including asset-level reporting, is available at gpt.com.au/sustainability. Data is current to 31 December 2019 and as presented for assurance, according to Global Reporting Initiative (GRI) Sustainability Reporting Standards and the Greenhouse Gas Protocol.

58

~~32 Flinders Street~~

~~Melbourne~~

59

32 Flinders Street, Melbourne

32 Flinders Street is currently used as a carpark and is adjacent to 8 Exhibition Street which is 50% owned by the GPT Wholesale Office Fund. The site has dual street frontages, to Flinders Street and Flinders Lane, and represents a future development opportunity for the fund.

Key Metrics as at 31 December 2019

General Current Valuation Ownership Interest GWOF: 100% Fair Value $87.0m Acquired August 2018 Valuation Type Independent Asset Quality Carpark Construction Completed 1998

Sustainability

No sustainability data reported due to current carpark usage of the site.

Note: Comprehensive sustainability data, including asset-level reporting, is available at gpt.com.au/sustainability. Data is current to 31 December 2019 and as presented for assurance, according to Global Reporting Initiative (GRI) Sustainability Reporting Standards and the Greenhouse Gas Protocol.

60

~~Queen & Collins~~

~~Melbourne~~

61

Queen & Collins, Melbourne

Queen & Collins comprises a 35 level A-Grade office tower flanked by three integrated heritage buildings known as 380 Collins Street (five level former Stock Exchange Building), 90 Queen Street (seven level Safe Deposit Building) and 388 Collins Street (five level ANZ Branch building).

The property is located on the corner of Collins and Queen Streets, within the Western Core of the Melbourne CBD. The property benefits from a central Collins Street location and is situated within close proximity to the retail core and nearby transport linkages.

The asset is currently undergoing redevelopment.

Key Metrics as at 31 December 2019

General Ownership Interest GWOF: 100% Acquired December 2016 Asset Quality A-Grade Construction/Refurbishment Completed 1993 (Office Tower) Property Details Office 34,900 sqm Retail 1,400 sqm Car Parking Spaces 56 Typical Floor Plate 935 sqm

Current Valuation Fair Value $300.0m Capitalisation Rate 4.75% Valuation Type Independent

Office Occupancy

Queen & Collins is currently undergoing redevelopment and is not included in portfolio occupancy metrics.

Sustainability

No sustainability data reported as site was under tenant management before commencing redevelopment in 2019.

Note: Comprehensive sustainability data, including asset-level reporting, is available at gpt.com.au/sustainability. Data is current to 31 December 2019 and as presented for assurance, according to Global Reporting Initiative (GRI) Sustainability Reporting Standards and the Greenhouse Gas Protocol.

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62

~~150 Collins Street Melbourne~~ 63

150 Collins Street, Melbourne

Located in the exclusive ‘Paris’ end of Collins Street, 150 Collins Street is an A-Grade building with Premium Grade services. The development of 150 Collins Street reached completion in November 2014 and features 19,900 sqm of office and retail space.

Key Metrics as at 31 December 2019

General
Ownership Interest		GWOF: 100%
Acquired		July 2012
Asset Quality		A-Grade
Construction/Refurbishment		Completed 2014
Property Details
Ofce		19,100 sqm
Retail		800 sqm
Car Parking Spaces		143
Typical Floor Plate		1,520 sqm
Ofce Tenant Details
Number of Ofce Tenants		5
WALE (by income)		6.5 years

Current Valuation
Fair Value		$270.3m
Capitalisation Rate		4.75%
Valuation Type		Internal
Ofce Occupancy
Actual		100.0%
Including Signed Leases		100.0%
Including Heads of Agreement		100.0%
Key Tenants
		Area (sqm)
Westpac Group		14,600
VECCI		2,800

Lease Expiry Profile (by Income)

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78%
15%
5%
0% 0% 0% 2% 0% 0% 0% 0%
2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030+
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Sustainability

150 Collins Street has achieved a 6 star Green Star – Design and As Built rating, a 5.0 star NABERS Energy rating (including GreenPower) and a 3.5 star NABERS Water rating. Note: Comprehensive sustainability data, including asset-level reporting, is available at gpt.com.au/sustainability. Data is current to 31 December 2019 and as presented for assurance, according to Global Reporting Initiative (GRI) Sustainability Reporting Standards and the Greenhouse Gas Protocol.

64

~~530 Collins Street Melbourne~~

65

530 Collins Street, Melbourne

Located in the heart of Melbourne’s corporate precinct, on the north east corner of Collins and King Streets, 530 Collins Street is a Premium Grade commercial office building which was completed in 1991. The asset benefits from large, flexible floor plates, a prime location and spectacular city views. Serviced by major public transport routes, 530 Collins Street also has four levels of basement car parking.

Key Metrics as at 31 December 2019

General Current Valuation Ownership Interest GWOF: 100% Fair Value $711.6m Acquired July 2006 Capitalisation Rate 4.75% Asset Quality Premium Grade Valuation Type Internal Construction/Refurbishment Completed 1991/Refurbished 2009 and underway Property Details Office Occupancy Office 65,300 sqm Actual 93.5% Retail 1,600 sqm Including Signed Leases 94.7% Car Parking Spaces 304 Including Heads of Agreement 94.7% Tower: 1,260 sqm Typical Floor Plate Podium: 3,510 sqm Office Tenant Details Key Tenants Number of Office Tenants 26 Area (sqm) WALE (by income) 3.7 years Suncorp 15,450 Australian Energy Market Operator 5,280

Lease Expiry Profile (by Income)

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45%
13%
10% 10%
8% 8%
4%
0% 1% 0% 1%
2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030+
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Sustainability

530 Collins Street has a 6.0 star NABERS Energy rating (including GreenPower) and a 3.0 star NABERS Water rating.

Note: Comprehensive sustainability data, including asset-level reporting, is available at gpt.com.au/sustainability. Data is current to 31 December 2019 and as presented for assurance, according to Global Reporting Initiative (GRI) Sustainability Reporting Standards and the Greenhouse Gas Protocol.

66

~~655 Collins Street~~

~~Melbourne~~ 67

655 Collins Street, Melbourne

655 Collins Street is an eight level, A-Grade office building, prominently located on the corner of Collins and Spencer Streets. The asset is situated opposite the major railway and transport hub of Southern Cross Station. The asset was constructed in 2009 and comprises large campus-style floors, all with excellent natural light and strong tenant appeal.

Key Metrics as at 31 December 2019

General
Ownership Interest		GWOF: 100%
Acquired		May 2014
Asset Quality		A-Grade
Construction/Refurbishment		Completed 2009
Property Details
Ofce		16,600 sqm
Retail		0 sqm
Car Parking Spaces		89
Typical Floor Plate		2,500 sqm
Ofce Tenant Details
Number of Ofce Tenants		1
WALE (by income)		9.9 years

Current Valuation
Fair Value		$168.0m
Capitalisation Rate		4.75%
Valuation Type		Internal
Ofce Occupancy
Actual		100.0%
Including Signed Leases		100.0%
Including Heads of Agreement		100.0%
Key Tenants
		Area (sqm)
Nine		16,600

Lease Expiry Profile (by Income)

	0%	0%	0%	0%	0%	0%	0%	0%	0% 100%	100% 2030+
	2020	2021	2022	2023	2024	2025	2026	2027	2028 2029

Sustainability

655 Collins Street has achieved a 5 star Green Star – Design and As Built Rating, a 4.5 star NABERS Energy rating (including Green Power), a 3.0 star NABERS Water rating and a 2.5 star NABERS Waste rating.

Note: Comprehensive sustainability data, including asset-level reporting, is available at gpt.com.au/sustainability. Data is current to 31 December 2019 and as presented for assurance, according to Global Reporting Initiative (GRI) Sustainability Reporting Standards and the Greenhouse Gas Protocol.

68

~~750 Collins Street Melbourne~~

69

750 Collins Street, Melbourne

750 Collins Street is an A-Grade office building completed in 2007. Situated in Melbourne’s dynamic Docklands precinct, the property occupies a 7,700 square metre site on the corner of Collins Street and Batmans Hill Drive.

The property comprises a 10 level campus-style building with super-sized floor plates of approximately 5,660 square metres, featuring excellent natural light to each elevation.

Key Metrics as at 31 December 2019

General				Current Valuation
Ownership Interest		GWOF: 100%		Fair Value		$315.6m
Acquired		May 2014		Capitalisation Rate		4.75%
Asset Quality		A-Grade		Valuation Type		Internal
Construction/Refurbishment		Completed 2007
Property Details				Ofce Occupancy
Ofce		41,400 sqm		Actual		0.0%
Retail		0 sqm		Including Signed Leases		100.0%
Car Parking Spaces		422		Including Heads of Agreement		100.0%
Typical Floor Plate		5,660 sqm
Ofce Tenant Details				Key Tenants
Number of Ofce Tenants		1				Area (sqm)
WALE (by income)		15.8 years1		Monash College1		41,400

Lease Expiry Profile (by Income)

	0%	0%	0%	0%	0%	0%	0%	0%	0%	0% 100% 2029 2030+
	2020	2021	2022	2023	2024	2025	2026	2027	2028

Sustainability

750 Collins Street has achieved a 5 star Green Star – Design and As Built Rating, a 6.0 star NABERS Energy rating (including GreenPower) and a 5.0 star NABERS Water rating, prior to refurbishment and tenant management from late 2019.

Note: Comprehensive sustainability data, including asset-level reporting, is available at gpt.com.au/sustainability. Data is current to 31 December 2019 and as presented for assurance, according to Global Reporting Initiative (GRI) Sustainability Reporting Standards and the Greenhouse Gas Protocol.

1. The future Monash College lease of 41,400 sqm has been included in the lease expiry profile.

70

~~800/808 Bourke Street Melbourne~~ 71

800/808 Bourke Street, Melbourne

800 and 808 Bourke Street were completed in 2004. This contemporary home to the Australian head office of the National Australia Bank (NAB) is located on a prime, north-facing waterfront site in the Docklands Precinct in Melbourne.

The asset embodies the key design elements of a modern workplace such as large open plan floors, open atria, operable windows, balconies, terraces, sunshades and extensive use of natural light.

Key Metrics as at 31 December 2019

General Ownership Interest GWOF: 100% Acquired July 2006 Asset Quality A-Grade Construction/Refurbishment Completed 2004 Property Details Office 59,600 sqm Retail 1,900 sqm Car Parking Spaces 416 Typical Floor Plate 3,500 sqm Office Tenant Details Number of Office Tenants 1 WALE (by income) 7.6 years

	Current Valuation
	Fair Value		$600.2m
	Capitalisation Rate		4.88%
	Valuation Type		Internal
	Ofce Occupancy
	Actual		100.0%
	Including Signed Leases		100.0%
	Including Heads of Agreement		100.0%
	Key Tenants
			Area (sqm)
	NAB		59,600

Lease Expiry Profile (by Income)

	0%	0%	0%	0%	0%	0%	0% 100%	0%	0%	0% 2030+
	2020	2021	2022	2023	2024	2025	2026 2027	2028	2029

Sustainability

800/808 Bourke Street has a 6.0 star NABERS Energy rating (including GreenPower) and 3.5 star NABERS Water rating, and was the first building to be rated using the Green Star Performance Pilot.

Note: Comprehensive sustainability data, including asset-level reporting, is available at gpt.com.au/sustainability. Data is current to 31 December 2019 and as presented for assurance, according to Global Reporting Initiative (GRI) Sustainability Reporting Standards and the Greenhouse Gas Protocol.

72

~~Riverside Centre~~

~~123 Eagle Street, Brisbane~~ 73

Riverside Centre, 123 Eagle Street, Brisbane

This landmark complex comprises a 41 level Premium Grade commercial building located in the heart of the ‘Golden Triangle’ in the Brisbane CBD, designed by one of Australia’s leading architects Harry Seidler. The building incorporates high quality office accommodation, waterfront restaurants, a car park for over 490 cars and an open plaza surrounded by retail accommodation.

Key Metrics as at 31 December 2019

General				Current Valuation
Ownership Interest		GWOF: 100%		Fair Value		$745.0m
Acquired		July 2006		Capitalisation Rate		5.00%
Asset Quality		Premium Grade		Valuation Type		Independent
Construction/Refurbishment		Completed 1986/Refurbished 2017
Property Details				Ofce Occupancy
Ofce		51,300 sqm		Actual		71.8%
Retail		4,500 sqm		Including Signed Leases		96.5%
Car Parking Spaces		497		Including Heads of Agreement		98.9%
Typical Floor Plate		1,500 sqm
Ofce Tenant Details				Key Tenants
Number of Ofce Tenants		37				Area (sqm)
WALE (by income)		6.9 years		Deloitte		6,830
				Westpac Group		6,720

Lease Expiry Profile (by Income)

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21% 21%
18%
9%
8%
6%
5%
4% 4%
3%
1%
2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030+
----- End of picture text -----

Sustainability

Riverside Centre has a 6.0 star NABERS Energy rating (including GreenPower) and a 3.5 star NABERS Water rating.

Note: Comprehensive sustainability data, including asset-level reporting, is available at gpt.com.au/sustainability. Data is current to 31 December 2019 and as presented for assurance, according to Global Reporting Initiative (GRI) Sustainability Reporting Standards and the Greenhouse Gas Protocol.

74

Logistics Portfolio Annual Result 2019

Rosehill Business Park, Camellia, NSW

Rosehill Business Park comprises three warehouse and office facilities located approximately 3 radial kilometres east of the Parramatta CBD. The asset benefits from its close proximity to the M4 Motorway and James Ruse Drive. It is leased to a number of occupiers including Australian Pharmaceutical Industries (API).

Key Metrics as at 31 December 2019

General
Ownership Interest		GPT: 100%
Acquired		May 1998
Property Details
GLA		41,900 sqm
Site Area		79,900 sqm
WALE (by income)		3.2 years

Current Valuation
Fair Value		$91.5m
Capitalisation Rate		5.50%
Valuation Type		Independent
Occupancy
Actual		100.0%
Including Signed Leases		100.0%
Including Heads of Agreement		100.0%

76

10 Interchange Drive, Eastern Creek, NSW xxxx

The asset comprises a modern office and warehouse facility located in the established occupier precinct of Eastern Creek. It is located approximately 14 radial kilometres west of the Parramatta CBD and benefits from its close proximity to the M4 and M7 Motorways. The asset is fully leased to Jalco Australia.

Key Metrics as at 31 December 2019

General				Current Valuation
Ownership Interest		GPT: 100%		Fair Value		$39.5m
Acquired		August 2012		Capitalisation Rate		4.88%
				Valuation Type		Independent
Property Details				Occupancy
GLA		15,200 sqm		Actual		100.0%
Site Area		30,200 sqm		Including Signed Leases		100.0%
WALE (by income)		7.8 years		Including Heads of Agreement		100.0%

77

Connect@Erskine Park, Cnr Lockwood and Templar Roads, Erskine Park, NSW

Connect@Erskine Park comprises a five asset estate in the established occupier precinct of Erskine Park. It is located approximately 19 radial kilometres west of the Parramatta CBD and benefits from its close proximity to the M4 and M7 Motorways. The estate is fully leased to a number of national operators.

Key Metrics as at 31 December 2019

General

Ownership Interest GPT: 100%

Property Details

Property Details
		16–34 Templar Road		36–52 Templar Road		54–70 Templar Road		67–75 Templar Road		29–55 Lockwood Road
		(Goodman Fielder)		(Rand)		(Coles RRM)		(Target)		(TNT Australia)
Developed (by GPT)		2009		2015		2015		2010		2014
GLA		15,200 sqm		24,500 sqm		21,000 sqm		12,700 sqm		32,200 sqm
Site Area		39,700 sqm		62,200 sqm		43,300 sqm		22,900 sqm		88,200 sqm
WALE (by income)		9.5 years		15.1 years		15.5 years		2.1 years		10.0 years
Current Valuation
Fair Value		$69.5m		$112.0m		$162.0m		$26.0m		$113.5m
Capitalisation Rate		5.00%		5.25%		5.25%		5.50%		4.75%
Valuation Type		Internal		Internal		Internal		Internal		Internal
Occupancy
Actual		100.0%		100.0%		100.0%		100.0%		100.0%
Including Signed Leases		100.0%		100.0%		100.0%		100.0%		100.0%
Including Heads of Agreement		100.0%		100.0%		100.0%		100.0%		100.0%

78

57-87 & 89-99 Lockwood Road, Erskine Park, NSW

The asset comprises two modern office and warehouse facilities located adjacent to GPT’s Connect@Erskine Park. It is located approximately 19 radial kilometres west of the Parramatta CBD and benefits from its close proximity to the M4 and M7 Motorways. The two facilities are leased to Rondo and CSR respectively.

Key Metrics as at 31 December 2019

General
Ownership Interest		GPT:	100%
Acquired		July	2019

Property Details
GLA		37,700 sqm
Site Area		92,400 sqm
WALE (by income)		10.2 years

Current Valuation

Current Valuation
Fair Value		$107.0m
Capitalisation Rate		4.63%
Valuation Type		Independent
Occupancy
Actual		100.0%
Including Signed Leases		100.0%
Including Heads of Agreement		100.0%

79

407 Pembroke Road, Minto, NSW

The asset comprises a modern temperature controlled warehouse and office facility located in the established occupier precinct of Minto. It is located approximately 40 radial kilometres south west of the Sydney CBD and benefits from its close proximity to the M5 and M7 Motorways. The asset is leased to Unilever. Adjoining the existing improvements is a 4.2 hectare site suitable for future development.

Key Metrics as at 31 December 2019

General
Ownership Interest		GPT: 50%
Co-Owner		Austrak: 50%
Acquired (by GPT)		October 2008
Property Details
GLA		18,400 sqm
Site Area		46,100sqm1
WALE (by income)		4.9 years

Current Valuation
Fair Value		$32.0m1
Capitalisation Rate		6.00%
Valuation Type		Internal

Occupancy

Occupancy
Actual	100.0%
Including Signed Leases	100.0%
Including Heads of Agreement	100.0%

1. Excludes development land.

80

4 Holker Street, Newington, NSW

The asset comprises a modern hitech data centre located in Newington, approximately 5 radial kilometres south east of the Parramatta CBD and benefits from its close proximity to the M4 Motorway. The asset is leased to Vodafone Hutchison Australia.

Key Metrics as at 31 December 2019

General

General
Ownership Interest	GPT: 100%
Acquired	March 2006

Property Details

Property Details
GLA	7,400 sqm
Site Area	6,800 sqm
WALE (by income)	6.7 years

Current Valuation

	Current Valuation
	Fair Value		$37.7m
	Capitalisation Rate		5.75%
	Valuation Type		Independent
	Occupancy
	Actual		100.0%
	Including Signed Leases		100.0%
	Including Heads of Agreement		100.0%

81

83 Derby Street, Silverwater, NSW

The asset comprises a warehouse and office facility. It is located in the established occupier precinct of Silverwater, approximately 4 radial kilometres south east of the Parramatta CBD and benefits from its close proximity to the M4 Motorway. The facility is leased to IVE Group.

Key Metrics as at 31 December 2019

General
Ownership Interest		GPT: 100%
Acquired		August 2012
Property Details
GLA		17,000 sqm
Site Area		31,900 sqm
WALE (by income)		6.0 years

Current Valuation
Fair Value		$41.3m
Capitalisation Rate		5.25%
Valuation Type		Independent
Occupancy
Actual		100.0%
Including Signed Leases		100.0%
Including Heads of Agreement		100.0%

82

Sydney Olympic Park Town Centre, NSW

The Sydney Olympic Park Town Centre consists of five neighbouring GPT assets that form a five hectare consolidated holding. The Town Centre provides GPT with a potential mixed-use development site. Sydney Olympic Park is located approximately 7 radial kilometres south east of the Parramatta CBD and benefits from its close proximity to the M4 Motorway.

Key Metrics as at 31 December 2019

General							Current	Current	Valuation
Ownership Interest		GPT: 100%					Fair Value						$137.5m
							Capitalisation Rate						N/A
							Valuation Type						Independent
Property Details
	3 Figtree Drive			5 Figtree Drive					7 Figtree Drive		6 Herb Elliott Avenue				8 Herb Elliott Avenue
Acquired	2013			2005					2004		2010				2004
GLA	6,800 sqm			8,800 sqm					3,500 sqm		4,100 sqm				3,200 sqm
Site Area	12,900 sqm			12,900 sqm					9,600 sqm		8,400 sqm				9,100 sqm
WALE (by income)	0.1			3.8					0.2		2.1				4.1
Occupancy
Actual	100.0%				100.0%				100.0%		100.0%					100.0%
Including Signed Leases	100.0%				100.0%				100.0%		100.0%					100.0%
Including Heads of Agreement	100.0%				100.0%				100.0%		100.0%					100.0%

83

Quad 1 & Quad 4, Sydney Olympic Park, NSW

Quad 1 and Quad 4 form part of an integrated office precinct located at Sydney Olympic Park, close to significant infrastructure and public recreational amenities. Sydney Olympic Park is located approximately 7 radial kilometres south east of the Parramatta CBD and benefits from its close proximity to the M4 Motorway. The assets are leased to a variety of occupiers including Government NSW, and the Australian Institute of Business Technology International (AIBTI).

Quad 1 building has achieved 5.0 star NABERS Energy and 5.5 star NABERS Water rating.

Key Metrics as at 31 December 2019

General

Ownership Interest GPT: 100%

Property Details

Property Details
	Quad 1	Quad 4
Completed	2001	2007
NLA	4,800 sqm	8,100 sqm
Site Area	9,400 sqm	8,000 sqm
WALE (by income)	2.4 years	10.2 years

Current Valuation

	Current Valuation
			Quad 1		Quad 4
	Fair Value		$29.0m		$62.8m
	Capitalisation Rate		6.25%		5.63%
	Valuation Type		Internal		Internal
	Occupancy
			Quad 1		Quad 4
	Actual		100.0%		100.0%
	Including Signed Leases		100.0%		100.0%
	Including Heads of Agreement		100.0%		100.0%

84

372–374 Victoria Street, Wetherill Park, NSW

The asset comprises an office and warehouse facility located in the established occupier precinct of Wetherill Park. It is located approximately 10 radial kilometres south west of the Parramatta CBD and benefits from its close proximity to the M4 and M7 Motorways and direct access to the Cumberland Highway. The asset is fully leased to Infrabuild (formerly known as OneSteel).

Key Metrics as at 31 December 2019

General
Ownership Interest		GPT: 100%
Acquired		July 2006
Property Details
GLA		20,500 sqm
Site Area		41,700 sqm
WALE (by income)		5.2 years

Current Valuation
Fair Value		$31.3m
Capitalisation Rate		5.75%
Valuation Type		Independent
Occupancy
Actual		100.0%
Including Signed Leases		100.0%
Including Heads of Agreement		100.0%

85

38 Pine Road, Yennora, NSW

The asset comprises two modern warehouses with adjoining offices, and is located in the established occupier market of Yennora. Approximately 6 radial kilometres south west of the Parramatta CBD, the asset benefits from its close proximity to the M4 Motorway, and Cumberland Highway. The asset is fully leased to Schenker Australia.

Key Metrics as at 31 December 2019

General
Ownership Interest		GPT: 100%
Acquired		November 2013
Property Details
GLA		33,800 sqm
Site Area		73,900 sqm
WALE (by income)		3.2 years

Current Valuation
Fair Value		$67.0m
Capitalisation Rate		5.50%
Valuation Type		Independent
Occupancy
Actual		100.0%
Including Signed Leases		100.0%
Including Heads of Agreement		100.0%

86

18–24 Abbott Road, Seven Hills, NSW

Developed by GPT in 2017, the asset comprises a modern dual tenancy office and warehouse facility. Located in the established occupier market of Seven Hills, approximately 7 radial kilometres north west of the Parramatta CBD and is in close proximity to the M7 and M2 Motorways. The asset is fully leased to Hills Limited and Easy Auto 123.

Key Metrics as at 31 December 2019

General
Ownership Interest		GPT: 100%
Developed (by GPT)		April 2017
Property Details
GLA		18,100 sqm
Site Area		40,500 sqm
WALE (by income)		4.7 years

Current Valuation

Current Valuation
Fair Value		$41.6m
Capitalisation Rate		5.25%
Valuation Type		Internal
Occupancy
Actual		100.0%
Including Signed Leases		100.0%
Including Heads of Agreement		100.0%

87

1A & 1B Huntingwood Drive, Huntingwood, NSW

Located in the established occupier precinct of Huntingwood approximately 11 radial kilometres west of the Parramatta CBD, the assets benefit from their close proximity to the M7 and M4 Motorways.

Acquired by GPT in 2016 as a vacant building with adjoining land suitable for development, Warehouse 1A has been upgraded significantly to allow for more adaptive office and warehouse use. The adjoining land has been developed into a standalone office and warehouse facility, known as Warehouse 1B. The development reached practical completion in August 2018. The assets are fully leased to IVE Group and Cahill Transport respectively.

Key Metrics as at 31 December 2019

General

Ownership Interest GPT: 100%

Current Valuation

Current Valuation
	1A Huntingwood Drive	1B Huntingwood Drive
Fair Value	$46.8m	$26.6m
Capitalisation Rate	5.25%	5.25%
Valuation Type	Internal	Internal

Property Details

Property Details
	1A Huntingwood Drive	1B Huntingwood Drive
Developed (by GPT)	2017	2018
GLA	21,100 sqm	11,300 sqm
Site Area	38,700 sqm	31,100 sqm
WALE (by income)	7.6 years	3.7 years

Occupancy

Occupancy
	1A Huntingwood Drive	1B Huntingwood Drive
Actual	100.0%	100.0%
Including Signed Leases	100.0%	100.0%
Including Heads of Agreement	100.0%	100.0%

88

54 Eastern Creek Drive, Eastern Creek, NSW

Developed by GPT in 2017, the asset comprises a modern office and warehouse facility located in the established occupier market of Eastern Creek. It is located approximately 16 radial kilometres west of the Parramatta CBD and benefits from its close proximity to the M7 and M4 Motorways. The asset is leased to Silk Logistics.

Key Metrics as at 31 December 2019

General
Ownership Interest		GPT: 100%
Developed (by GPT)		October 2017
Property Details
GLA		25,400 sqm
Site Area		51,100 sqm
WALE (by income)		3.1 years

Current Valuation

Current Valuation
Fair Value		$52.0m
Capitalisation Rate		5.50%
Valuation Type		Internal
Occupancy
Actual		100.0%
Including Signed Leases		100.0%
Including Heads of Agreement		100.0%

89

50 Old Wallgrove Road, Eastern Creek, NSW

Developed by GPT and completed in 2019, the asset comprises a modern office and warehouse facility located in the established occupier market of Eastern Creek. It is located approximately 16 radial kilometres west of the Parramatta CBD and benefits from its close proximity to the M7 and M4 Motorways. The asset is leased to ACR Supply Partners.

Key Metrics as at 31 December 2019

General
Ownership Interest		GPT: 100%
Developed (by GPT)		January 2019

Current Valuation
Fair Value		$70.3m
Capitalisation Rate		5.00%
Valuation Type		Internal

Property Details
GLA		30,100 sqm
Site Area		53,100 sqm
WALE (by income)		7.1 years

Occupancy

Occupancy
Actual	100.0%
Including Signed Leases	100.0%
Including Heads of Agreement	100.0%

90

104 Vanessa Street, Kingsgrove, NSW

The asset comprises an office and warehouse facility located in the established occupier precinct of Kingsgrove. It is located approximately 13 radial kilometres south west of the Sydney CBD and benefits from its close proximity to the M5 Motorway. The asset is leased to Shriro Holdings.

Key Metrics as at 31 December 2019

General
Ownership Interest		GPT: 100%
Acquired		May 2019
Property Details
GLA		7,100 sqm
Site Area		11,600 sqm
WALE (by income)		4.5 years

Current Valuation
Fair Value		$24.0m
Capitalisation Rate		5.25%
Valuation Type		Internal
Occupancy
Actual		100.0%
Including Signed Leases		100.0%
Including Heads of Agreement		100.0%

91

64 Biloela Street, Villawood, NSW

The asset comprises an office and warehouse facility located in the established occupier precinct of Villawood. It is located approximately 8 radial kilometres south west of the Parramatta CBD and benefits from its close proximity to the Hume Highway. The asset is leased to VIP Plastic Packaging.

Key Metrics as at 31 December 2019

General
Ownership Interest		GPT: 100%
Acquired		May 2019
Property Details
GLA		23,300 sqm
Site Area		37,700 sqm
WALE (by income)		7.5 years

Current Valuation
Fair Value		$39.5m
Capitalisation Rate		5.75%
Valuation Type		Internal
Occupancy
Actual		100.0%
Including Signed Leases		100.0%
Including Heads of Agreement		100.0%

92

30–32 Bessemer Street, Blacktown, NSW

The asset comprises three standalone warehouse facilities in the established occupier precinct of Blacktown. It is located approximately 11 radial kilometres north west of the Parramatta CBD and benefits from its close proximity to the M7 and M2 Motorways. The asset is fully leased to Snack Brands Industries.

Key Metrics as at 31 December 2019

General
Ownership Interest		GPT: 100%
Acquired		May 2019
Property Details
GLA		20,100 sqm
Site Area		44,800 sqm
WALE (by income)		6.0 years

Current Valuation
Fair Value		$41.5m
Capitalisation Rate		5.50%
Valuation Type		Internal
Occupancy
Actual		100.0%
Including Signed Leases		100.0%
Including Heads of Agreement		100.0%

93

Citiwest Industrial Estate, Altona North, VIC

Citiwest Industrial Estate comprises six warehouse and office facilities located in the established occupier precinct of Altona North. It is located approximately 12 radial kilometres south west of the Melbourne CBD and 8 kilometres west of the Port of Melbourne. The site is also located within close proximity of the Westgate Freeway and Western Ring Road. The estate is fully leased to various national occupiers.

Key Metrics as at 31 December 2019

General
Ownership Interest		GPT: 100%
Acquired		August 1994
Property Details
GLA		90,100 sqm
Site Area		201,800 sqm
WALE (by income)		3.5 years

Current Valuation
Fair Value		$102.6m
Capitalisation Rate		5.90%
Valuation Type		Independent
Occupancy
Actual		100.0%
Including Signed Leases		100.0%
Including Heads of Agreement		100.0%

94

Citiport Business Park, Port Melbourne, VIC

Citiport Business Park is located approximately 4 radial kilometres west of the Melbourne CBD. Improvements include a modern low rise office building and 10 warehouse/showroom facilities. The estate benefits from its close proximity to the Monash and Westgate Freeways.

The asset has achieved a 5.0 star NABERS Energy rating.

Key Metrics as at 31 December 2019

General
Ownership Interest		GPT: 100%
Acquired		March 2012
Property Details
GLA		27,000 sqm
Site Area		25,500 sqm
WALE (by income)		2.8 years

Current Valuation

Current Valuation
Fair Value	$90.8m
Capitalisation Rate	6.00%
Valuation Type	Internal

Occupancy

Occupancy
Actual	100.0%
Including Signed Leases	100.0%
Including Heads of Agreement	100.0%

95

Austrak Business Park, Somerton, VIC

Austrak Business Park comprises seven facilities and an intermodal rail terminal located in the established occupier precinct of Somerton. It is located approximately 20 radial kilometres north of the Melbourne CBD and 10 kilometres north east of Melbourne Airport. The site benefits from its nearby access to the Hume Freeway.

Key Metrics as at 31 December 2019

General
Ownership Interest		GPT: 50%
Co-Owner		Austrak: 50%
Acquired (by GPT)		October 2003
Property Details
GLA		210,000 sqm
Site Area		684,000 sqm1
WALE (by income)		6.1 years

Current Valuation
Fair Value		$195.2m1
Capitalisation Rate		5.25%
Valuation Type		Independent
Occupancy
Actual		80.6%
Including Signed Leases		80.6%
Including Heads of Agreement		80.6%

1. Excludes development land.

96

Sunshine Business Estate, Sunshine, VIC

Sunshine Business Estate comprises four warehouse and office facilities in the established occupier precinct of Sunshine. It is located approximately 11.5 radial kilometres north west of the Melbourne CBD and 8 kilometres north west of Port of Melbourne. The site is also located within close proximity to the Westgate Freeway and Western Ring Road. The estate is fully leased to IVE Group.

Key Metrics as at 31 December 2019

General

General
Ownership Interest		GPT: 100%
Acquired		January 2018
Property Details
GLA		52,800 sqm
Site Area		88,700 sqm
WALE (by income)		6.9 years

Current Valuation

Current Valuation
Fair Value		$79.1m
Capitalisation Rate		5.75%
Valuation Type		Internal
Occupancy
Actual		100.0%
Including Signed Leases		100.0%
Including Heads of Agreement		100.0%

97

396 Mount Derrimut Road, Derrimut, VIC

The asset comprises an office and warehouse facility in the established occupier precinct of Derrimut. It is located approximately 17 radial kilometres west of the Melbourne CBD and 13 kilometres west of the Port of Melbourne. The asset is located within close proximity of the Western Ring Road and is leased to Mesh and Bar.

Key Metrics as at 31 December 2019

General
Ownership Interest		GPT: 100%
Acquired		November 2018
Property Details
GLA		10,700 sqm
Site Area		18,700 sqm
WALE (by income)		2.0 years

Current Valuation
Fair Value		$12.9m
Capitalisation Rate		6.25%
Valuation Type		Internal
Occupancy
Actual		100.0%
Including Signed Leases		100.0%
Including Heads of Agreement		100.0%

98

399 Boundary Road, Truganina, VIC

The asset comprises a modern office and warehouse facility in the established occupier precinct of Truganina. It is located approximately 18 radial kilometres west of the Melbourne CBD and 14 kilometres west of the Port of Melbourne. The asset is located within close proximity to the Western Ring Road and is leased to Krueger Transport.

Key Metrics as at 31 December 2019

General
Ownership Interest		GPT: 100%
Acquired		December 2018
Property Details
GLA		11,900 sqm
Site Area		24,400 sqm
WALE (by income)		9.2 years

Current Valuation
Fair Value		$18.4m
Capitalisation Rate		5.25%
Valuation Type		Independent
Occupancy
Actual		100.0%
Including Signed Leases		100.0%
Including Heads of Agreement		100.0%

99

21 Shiny Drive, Truganina, VIC

Completed in December 2019, the asset forms the first facility completed at GPT’s Gateway Logistics Hub. The estate is approximately 18 radial kilometres west of the Melbourne CBD and 13 kilometres west of the Port of Melbourne, and is expected to deliver up to 140,000 square metres of prime logistics accommodation.

21 Shiny Drive is a modern dual tenancy office and warehouse facility providing full drive round access and a super awning. The asset benefits from its close proximity to the Western Ring Road.

Key Metrics as at 31 December 2019

General

Ownership Interest GPT: 100% Developed (by GPT) December 2019

	Current Valuation
	Fair Value		$34.7m
	Capitalisation Rate		5.75%
	Valuation Type		Independent

Property Details

Property Details
GLA	26,500 sqm
Site Area	42,300 sqm
WALE (by income)	6.9 years

Occupancy

Occupancy
Actual	54.4%
Including Signed Leases	54.4%
Including Heads of Agreement	100.0%

100

16–28 Quarry Road, Yatala, QLD

The asset comprises two standalone warehouse facilities in the strategically located Yatala Enterprise Precinct. It is located approximately 36 radial kilometres south east of the Brisbane CBD and 35 kilometres north west of the Gold Coast. The asset benefits from its close proximity to the M1 Motorway.

Key Metrics as at 31 December 2019

General
Ownership Interest		GPT: 100%
Acquired		November 2013
Property Details
GLA		40,800 sqm
Site Area		81,500 sqm
WALE (by income)		3.2 years

Current Valuation
Fair Value		$45.7m
Capitalisation Rate		7.00%
Valuation Type		Internal
Occupancy
Actual		55.1%
Including Signed Leases		55.1%
Including Heads of Agreement		55.1%

101

59 Forest Way, Karawatha, QLD

The asset comprises a modern distribution centre located in Karawatha, approximately 21 radial kilometres south of the Brisbane CBD and 52 kilometres north west of the Gold Coast. The facility was purpose built for the sole occupier, Toll Group, and includes additional improvements including truck servicing facilities. The site benefits from its close proximity to the Logan and M1 Motorways.

Key Metrics as at 31 December 2019

General
Ownership Interest		GPT: 100%
Developed (by GPT)		April 2014
Property Details
GLA		44,000 sqm
Site Area		134,300 sqm
WALE (by income)		9.2 years

Current Valuation

Current Valuation
Fair Value	$125.0m
Capitalisation Rate	5.25%
Valuation Type	Independent

Occupancy

Occupancy
Actual	100.0%
Including Signed Leases	100.0%
Including Heads of Agreement	100.0%

102

55 Whitelaw Place, Wacol, QLD

The asset comprises a modern office and warehouse facility located in Wacol, approximately 16 radial kilometres south west of the Brisbane CBD. The facility was purpose built for the sole occupier, Loscam Australia, and the site benefits from its close proximity to the Ispwich Motorway and Centenary Highway.

Key Metrics as at 31 December 2019

General
Ownership Interest		GPT: 100%
Developed (by GPT)		August 2018
Property Details
GLA		5,600 sqm
Site Area		20,900 sqm
WALE (by income)		12.4 years

Current Valuation
Fair Value		$17.5m
Capitalisation Rate		5.50%
Valuation Type		Independent
Occupancy
Actual		100.0%
Including Signed Leases		100.0%
Including Heads of Agreement		100.0%

103