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GPT GROUP — Annual Report 2020
Feb 14, 2021
65009_rns_2021-02-14_25ab982c-9456-4898-938d-ce21f95e2c9e.pdf
Annual Report
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15 February 2021
2020 Annual Result Property Compendium
GPT provides its 2020 Annual Result Property Compendium which is authorised for release by the GPT Group Company Secretary.
-ENDS-
For more information, please contact:
INVESTORS MEDIA Penny Berger Grant Taylor Head of Investor Relations Communications Manager & Corporate Affairs +61 402 079 955 +61 403 772 123
www.gpt.com.au
Level 51, MLC Centre, 19-29 Martin Place, Sydney NSW 2000
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Annual Result
Contents
Retail 3 Office 29 Logistics 76
123 Eagle Street, Brisbane
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December
Casuarina Square Northern Territory
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4 RETAIL PORTFOLIO
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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 199 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 2020
General
Ownership Interest 50% GPT, 50% GWSCF Acquired GPT: October 1973, GWSCF: June 2012 Asset Type Regional Centre Construction Completed 1973 Latest Refurbishment/Development 2016 (Entertainment and Leisure Precinct) Traditional Custodians Traditional land of the Larrakia people
Current Valuation
Fair Value[1] GPT: $209.8m, GWSCF: $209.8m Capitalisation Rate[2] 6.25% Valuation Type Independent
Centre Details
Total GLA 55,000 sqm Number of Tenancies 199 Car Parking Spaces 2,456 Retail Occupancy 94.9%
Sales Information
| Sales Information | |
|---|---|
| Sales Turnover per Square Metre Occupancy Costs Annual Centre Turnover Key Tenants |
Total Centre Specialties |
| $7,089 $9,934 10.4% 15.8% $351.4m |
|
| Kmart Big W Woolworths BCC Cinemas Coles |
Area (sqm) |
| 7,450 6,130 5,020 4,120 3,750 |
Sustainability
Note: Comprehensive sustainability data, including asset-level reporting, is available at gpt.com.au/sustainability . Data is current to 31 December 2020 as presented for assurance according to Global Reporting Initiative (GRI) Sustainability Reporting Standards and the Greenhouse Gas Protocol.
-
Retail component only.
-
Includes retail and student accommodation.
THE GPT GROUP | PROPERTY COMPENDIUM
5
RETAIL PORTFOLIO
Charlestown Square New South Wales
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RETAIL PORTFOLIO
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6
Charlestown Square, New South Wales
Charlestown Square is the largest shopping and entertainment destination in the Newcastle and Hunter region.
The centre incorporates 273 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 2020
General
Ownership Interest 100% GPT Acquired (by GPT) December 1977 Asset Type Super Regional Centre Construction Completed 1979 Latest Refurbishment/Development 2019 ("The Corner" Dining Precinct) Traditional Custodians Traditional land of the Awabakal people
Current Valuation
Fair Value $874.5m Capitalisation Rate 5.50% Valuation Type Independent
Centre Details
Total GLA 93,400 sqm Number of Tenancies 273 Car Parking Spaces 3,419 Retail Occupancy 99.0%
Sales Information
| Sales Turnover per Square Metre Occupancy Costs Annual Centre Turnover |
Total Centre Specialties |
|---|---|
| $6,077 $10,196 10.7% 15.1% $506.8m |
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 2020 as presented for assurance according to Global Reporting Initiative (GRI) Sustainability Reporting Standards and the Greenhouse Gas Protocol.
THE GPT GROUP | PROPERTY COMPENDIUM
7
RETAIL PORTFOLIO
Highpoint Shopping Centre Victoria
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8 RETAIL PORTFOLIO
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Highpoint Shopping Centre, Victoria
Highpoint Shopping Centre is located in Maribyrnong, 8 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 451 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 2020
General
Ownership Interest 16.67% GPT, 83.33% GWSCF Acquired GPT: August 2009, GWSCF: March 2007 Asset Type Super Regional Centre Construction Completed 1975 Latest Refurbishment/Development Underway (Existing Centre Upgrades) Traditional Custodians Traditional land of the Wurundjeri people of the Kulin nations
Current Valuation Fair Value GPT: $350.0m, GWSCF: $1,750.0m Capitalisation Rate 4.50% Valuation Type Independent
Centre Details Total GLA 151,100 sqm Number of Tenancies 451 Car Parking Spaces 7,276 Retail Occupancy 96.0%
Sales Information
| Sales Information | |
|---|---|
| Sales Turnover per Square Metre Occupancy Costs Annual Centre Turnover Key Tenants |
Total Centre Specialties |
| $4,843 $6,819 16.0% 26.0% $660.9m |
|
| Myer David Jones Target Hoyts Big W Woolworths |
Area (sqm) |
| 19,120 13,760 9,920 9,030 8,160 4,240 |
Sustainability
Note: Comprehensive sustainability data, including asset-level reporting, is available at gpt.com.au/sustainability . Data is current to 31 December 2020 as presented for assurance according to Global Reporting Initiative (GRI) Sustainability Reporting Standards and the Greenhouse Gas Protocol.
THE GPT GROUP | PROPERTY COMPENDIUM
9
RETAIL PORTFOLIO
Melbourne Central
Victoria
10
RETAIL PORTFOLIO
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 300 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 2020
General Ownership Interest 100% GPT Acquired (by GPT) May 1999 Asset Type City Centre Construction Completed 1991 Latest Refurbishment/Development 2019 (ELLA – Dining Precinct) Traditional Custodians Traditional land of the Kulin nations
Current Valuation Fair Value[1] $1,464.6m Capitalisation Rate[2] 4.50% Valuation Type Independent
Centre Details
Total GLA 55,900 sqm Number of Tenancies 300 Car Parking Spaces 822 Retail Occupancy 97.8%
Sales Information
Total Centre Specialties Sales Turnover per Square Metre $5,077 $5,450 Occupancy Costs 26.2% 37.2% Annual Centre Turnover $253.2m 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 2020 as presented for assurance according to Global Reporting Initiative (GRI) Sustainability Reporting Standards and the Greenhouse Gas Protocol.
-
Retail only.
-
Includes retail and car park.
THE GPT GROUP | PROPERTY COMPENDIUM
11
RETAIL PORTFOLIO
Rouse Hill Town Centre New South Wales
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12 RETAIL PORTFOLIO
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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 tenacies 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 2020
General Ownership Interest 100% GPT Acquired (by GPT) Stage 1: September 2007 Stage 2: March 2008 Asset Type Regional Centre Construction Completed 2008 Traditional Custodians Traditional land of the Darug people
| Current Valuation | ||
|---|---|---|
| Fair Value | $645.2m | |
| 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 99.8%
Sales Information
| Sales Information | |
|---|---|
| Sales Turnover per Square Metre Occupancy Costs Annual Centre Turnover Key Tenants |
Total Centre Specialties |
| $7,553 $9,382 8.7% 13.5% $466.3m |
|
| Big W Target Reading Cinemas Woolworths Coles |
Area (sqm) |
| 8,560 6,820 5,780 4,610 4,120 |
Sustainability
Note: Comprehensive sustainability data, including asset-level reporting, is available at gpt.com.au/sustainability . Data is current to 31 December 2020 as presented for assurance according to Global Reporting Initiative (GRI) Sustainability Reporting Standards and the Greenhouse Gas Protocol.
THE GPT GROUP | PROPERTY COMPENDIUM
13
RETAIL PORTFOLIO
Sunshine Plaza
Queensland
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RETAIL PORTFOLIO
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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 David Jones, Big W and over 100 specialty stores, 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 330 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 2020
General Ownership Interest 50% GPT Co-Owner 50% Australian Prime Property Fund Retail Acquired (by GPT) December 1992 Asset Type Super Regional Centre Construction Completed 1994 Latest Refurbishment/Development 2019 (Centre Expansion) Traditional Custodians Traditional land of the Gubbi Gubbi people
| Current Valuation | ||
|---|---|---|
| Fair Value | $595.0m | |
| Capitalisation Rate | 5.00% | |
| Valuation Type | Independent |
Centre Details
Total GLA 107,900 sqm Number of Tenancies 330 Car Parking Spaces 4,962 Retail Occupancy 97.9%
Sales Information[1]
| Sales Information1 | |
|---|---|
| Sales Turnover per Square Metre Occupancy Costs Annual Centre Turnover |
Total Centre Specialties |
| $6,414 $8,928 12.3% 19.0% $581.8m |
Key Tenants
| Key Tenants | |
|---|---|
| Myer David Jones Big W Target Kmart Coles BCC Cinemas Woolworths |
Area (sqm) |
| 12,890 8,000 6,500 6,920 6,590 5,850 4,690 3,880 |
Sustainability
Note: Comprehensive sustainability data, including asset-level reporting, is available at gpt.com.au/sustainability . Data is current to 31 December 2020 as presented for assurance according to Global Reporting Initiative (GRI) Sustainability Reporting Standards and the Greenhouse Gas Protocol.
- Development impacted.
THE GPT GROUP | PROPERTY COMPENDIUM
15
RETAIL PORTFOLIO
Westfield Penrith New South Wales
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16 RETAIL PORTFOLIO
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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 309 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 2020
General
Ownership Interest 50% GPT Co-Owner 50% Scentre Group Acquired (by GPT) June 1971 Asset Type Super Regional Centre Construction Completed 1971 Latest Refurbishment/Development 2005 (Major Redevelopment) Traditional Custodians Traditional land of the Darug people
Current Valuation
Fair Value $641.0m Capitalisation Rate 5.00% Valuation Type Independent
Centre Details
Total GLA 91,700 sqm Number of Tenancies 309 Car Parking Spaces 3,521 Retail Occupancy 98.7%
Sales Information
| Sales Turnover per Square Metre Occupancy Costs Annual Centre Turnover Key Tenants |
Total Centre Specialties |
|---|---|
| $6,929 $10,330 13.4% 20.6% $569.7m |
|
| Myer Big W Target Hoyts Woolworths Aldi |
Area (sqm) |
| 20,110 8,740 7,100 4,790 3,800 1,620 |
Sustainability
Note: Comprehensive sustainability data, including asset-level reporting, is available at gpt.com.au/sustainability . Data is current to 31 December 2020 as presented for assurance according to Global Reporting Initiative (GRI) Sustainability Reporting Standards and the Greenhouse Gas Protocol.
THE GPT GROUP | PROPERTY COMPENDIUM
17
RETAIL PORTFOLIO
Chirnside Park
Victoria
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18 RETAIL PORTFOLIO
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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 eight-screen Reading Cinema. The centre provides an excellent convenience offer in the north-eastern region of Melbourne.
Key Metrics as at 31 December 2020
General
Ownership Interest 100% GWSCF Acquired (by GWSCF) March 2007 Asset Type Regional Centre Construction Completed 1979 Latest Refurbishment/Development 2017 (Existing Centre Upgrades) Traditional Custodians Traditional land of the Wurundjeri people of the Kulin nations
Centre Details
Total GLA 38,900 sqm Number of Tenancies 119 Car Parking Spaces 2,088 Retail Occupancy 99.0%
Current Valuation
Fair Value $265.0m Capitalisation Rate 6.00% Valuation Type Independent
Sales Information
Total Centre Specialties Sales Turnover per Square Metre $7,912 $9,958 Occupancy Costs 7.2% 16.1% Annual Centre Turnover $271.4m 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 2020 as presented for assurance according to Global Reporting Initiative (GRI) Sustainability Reporting Standards and the Greenhouse Gas Protocol.
THE GPT GROUP | PROPERTY COMPENDIUM
19
RETAIL PORTFOLIO
Macarthur Square
New South Wales
20 RETAIL PORTFOLIO
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 331 tenancies including a David Jones 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 2020
| Key Metrics as at 31 December 2020 | |
|---|---|
| General Ownership Interest 50% GWSCF Co-Owner 50% Australian Prime Property Fund Retail Acquired (by GWSCF) March 2007 Asset Type Super Regional Centre Construction Completed 1979 Latest Refurbishment/Development 2017 (Centre Expansion) Traditional Custodians Traditional land of the Dharawal nation |
Current Valuation |
| Fair Value $477.5m Capitalisation Rate 5.25% Valuation Type Independent |
| Centre Details Total GLA 108,600 sqm Number of Tenancies 331 Car Parking Spaces 4,142 Retail Occupancy 97.6% |
Sales Information | |
|---|---|---|
| Sales Turnover per Square Metre Occupancy Costs Annual Centre Turnover Key Tenants |
Total Centre Specialties |
|
| $5,950 $8,316 11.5% 17.8% $562.5m |
||
| Big W David Jones Event Cinemas Target Coles Woolworths Aldi |
Area (sqm) | |
| 8,790 6,900 6,090 4,450 4,560 4,190 1,510 |
Sustainability
Note: Comprehensive sustainability data, including asset-level reporting, is available at gpt.com.au/sustainability . Data is current to 31 December 2020 as presented for assurance according to Global Reporting Initiative (GRI) Sustainability Reporting Standards and the Greenhouse Gas Protocol.
THE GPT GROUP | PROPERTY COMPENDIUM
RETAIL PORTFOLIO 21
Northland Shopping Centre Victoria
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22 RETAIL PORTFOLIO
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Northland Shopping Centre, Victoria
Northland Shopping Centre is located in East Preston, approximately 11 kilometres north of Melbourne’s CBD.
The centre incorporates 287 tenancies including a Myer department store, two discount department stores, three supermarkets 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 2020
General Ownership Interest 50% GWSCF Co-Owner 50% Vicinity Centres Acquired (by GWSCF) May 2014 Asset Type Super Regional Centre Construction Completed 1966 Latest Refurbishment/Development 2014 (Centre Expansion) Traditional Custodians Traditional land of the Wurundjeri Woi-wurrung people of the Kulin nations
Centre Details
| Centre Details | |
|---|---|
| Total GLA | 97,100 sqm |
| Number of Tenancies | 287 |
| Car Parking Spaces | 4,640 |
| Retail Occupancy | 97.4% |
| Current Valuation | ||
|---|---|---|
| Fair Value | $402.5m | |
| Capitalisation Rate | 5.50% | |
| Valuation Type | Independent |
Sales Information
| Sales Turnover per Square Metre Occupancy Costs Annual Centre Turnover Key Tenants |
Total Centre Specialties |
|---|---|
| $4,352 $5,691 15.4% 27.3% $394.2m |
|
| Myer Target Kmart Hoyts Coles Woolworths Aldi |
Area (sqm) |
| 18,510 6,890 6,500 6,180 4,220 4,030 1,500 |
Sustainability
Note: Comprehensive sustainability data, including asset-level reporting, is available at gpt.com.au/sustainability . Data is current to 31 December 2020 as presented for assurance according to Global Reporting Initiative (GRI) Sustainability Reporting Standards and the Greenhouse Gas Protocol.
THE GPT GROUP | PROPERTY COMPENDIUM
23
RETAIL PORTFOLIO
Parkmore Shopping Centre Victoria
24 RETAIL PORTFOLIO
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 2020
General
Ownership Interest 100% GWSCF Acquired (by GWSCF) March 2007 Asset Type Regional Centre Construction Completed 1973 Latest Refurbishment/Development 2007 (Centre Expansion) Traditional Custodians Traditional land of the Kulin nations
Current Valuation
Fair Value $256.6m Capitalisation Rate 6.00% Valuation Type Independent
Centre Details
Total GLA 36,800 sqm Number of Tenancies 127 Car Parking Spaces 2,519 Retail Occupancy 98.7%
Sales Information
Total Centre Specialties Sales Turnover per Square Metre $7,141 $7,448 Occupancy Costs 8.2% 17.3% Annual Centre Turnover $243.8m
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 2020 as presented for assurance according to Global Reporting Initiative (GRI) Sustainability Reporting Standards and the Greenhouse Gas Protocol.
THE GPT GROUP | PROPERTY COMPENDIUM
RETAIL PORTFOLIO 25
Wollongong Central New South Wales
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26 RETAIL PORTFOLIO
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Wollongong Central, New South Wales
Wollongong Central is located in the CBD of Wollongong, approximately 90 kilometres south of Sydney.
The centre incorporates 212 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 2020
General
Ownership Interest 100% GWSCF Acquired (by GWSCF) March 2007 Asset Type City Centre Construction Completed 1975 Latest Refurbishment/Development 2017 (David Jones Remix) Traditional Custodians Traditional land of the Dharawal nation
Current Valuation
Fair Value[1] $390.0m Capitalisation Rate 6.00% Valuation Type Independent
Centre Details
Total GLA 55,000 sqm Number of Tenancies 212 Car Parking Spaces 2,104 Retail Occupancy 97.3%
Sales Information
Total Centre Specialties Sales Turnover per Square Metre $6,741 $7,781 Occupancy Costs 10.6% 15.8% Annual Centre Turnover $299.6m
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 2020 as presented for assurance according to Global Reporting Initiative (GRI) Sustainability Reporting Standards and the Greenhouse Gas Protocol.
- Includes ancillary properties.
THE GPT GROUP | PROPERTY COMPENDIUM
27
RETAIL PORTFOLIO
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28 RETAIL PORTFOLIO
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Casuarina Square, Northern Territory
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December
Office Portfolio
One One One Eagle Street, Brisbane
THE GPT GROUP | PROPERTY COMPENDIUM
29
OFFICE PORTFOLIO
Australia Square 264 George Street, Sydney
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30 OFFICE PORTFOLIO
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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 2020
General Current Valuation Ownership Interest 50% GPT Fair Value $583.0m Co-Owner 50% Dexus Capitalisation Rate 4.81% Acquired (by GPT) September 1981 Valuation Type Independent Asset Quality A-Grade Construction/Refurbishment Completed 1967/Refurbished 2004 Traditional Custodians Traditional land of the Gadigal people of the Eora nation Property Details Office Occupancy Office 51,700 sqm Actual 92.5% Retail 1,700 sqm Including Signed Leases 95.9% Car Parking Spaces 376 Including Heads of Agreement 96.7%
Property Details Office 51,700 sqm Retail 1,700 sqm Car Parking Spaces 376 Typical Floor Plate 1,030 sqm Office Tenant Details Number of Office Tenants 82 WALE (by income) 3.7 years
| Key Tenants | |
|---|---|
| HWL Ebsworth Dexus |
Area (sqm) |
| 7,230 4,330 |
Lease Expiry Profile (by Income)
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26%
18%
16%
15%
9%
8%
7%
1%
0% 0% 0%
2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031+
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Sustainability
The Tower at Australia Square has achieved a 5.0 star NABERS Energy rating (without 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 2.5 star NABERS Waste rating. Each asset also holds a 5 Star Green Star – Performance rating.
Note: Comprehensive sustainability data, including asset-level reporting, is available at gpt.com.au/sustainability . Data is current to 31 December 2020 and as presented for assurance according to Global Reporting Initiative (GRI) Sustainability Reporting Standards and the Greenhouse Gas Protocol. Ratings are as at 31 December 2020.
THE GPT GROUP | PROPERTY COMPENDIUM
OFFICE PORTFOLIO 31
2 Park Street
Sydney
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32 OFFICE PORTFOLIO
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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 linked to a four level retail podium, connected to Town Hall Station and offering easy access to public transport to all areas of the Sydney CBD.
Key Metrics as at 31 December 2020
General
Ownership Interest 50% GPT Co-Owner 50% Charter Hall Office Trust Acquired (by GPT) December 2001 Asset Quality Premium Grade Construction/Refurbishment Completed 2000 Traditional Custodians Traditional land of the Gadigal people of the Eora nation
Current Valuation
Fair Value $805.0m Capitalisation Rate 4.75% Valuation Type Independent
Property Details Office 73,400 sqm Retail 500 sqm Car Parking Spaces 270 Typical Floor Plate 1,770 sqm Office Tenant Details Number of Office Tenants 24 WALE (by income) 3.2 years
Office Occupancy
Actual 98.6% Including Signed Leases 98.6% Including Heads of Agreement 98.8% Key Tenants Area (sqm) Amazon Web Services 21,920 Citibank 13,280
Lease Expiry Profile (by Income)
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37%
25%
11% 11% 11%
6%
0% 0% 0% 0% 0%
2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031+
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Sustainability
2 Park Street has achieved a 5.0 star NABERS Energy rating (without GreenPower), a 4.0 star NABERS Water rating and a 3.5 star NABERS Waste rating. 2 Park Street has been awarded a 6 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 2020 and as presented for assurance according to Global Reporting Initiative (GRI) Sustainability Reporting Standards and the Greenhouse Gas Protocol. Ratings are as at 31 December 2020.
THE GPT GROUP | PROPERTY COMPENDIUM
OFFICE PORTFOLIO 33
Darling Park 1 & 2 and Cockle Bay Wharf 201 Sussex Street, Sydney
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34 OFFICE PORTFOLIO
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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 2020
General Ownership Interest 25% GPT Co-Owners 50% GWOF, 25% AWOF Acquired (by GPT) August 2019 Asset Quality Premium Grade Construction/ Tower 1: Completed 1994/Refurbishment underway Refurbishment Tower 2: Completed 1999/Refurbished 2018 Traditional Custodians Traditional land of the Gadigal people of the Eora nation 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: 3.7 years, DP2: 7.5 years
Current Valuation Fair Value $528.7m Capitalisation Rate DP1: 5.00%, DP2: 5.00% Valuation Type Independent Office Occupancy Actual DP1: 100%, DP2: 100.0% Including Signed Leases DP1: 100%, DP2: 100.0% 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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57%
9%
2%
5% 33% 16% 33% 0% 34% 0% 4% 8% 0%
2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031+
DP1 DP2
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Sustainability
Darling Park Tower 1, 2 and Cockle Bay Wharf are certified carbon neutral using the NABERS verification pathway of Climate Active for Buildings, in alignment with the international Greenhouse Gas Protocol. In 2020, investment in both carbon offsets and carbon removal projects delivered a net positive impact on the environment, removing an additional 5 kilograms of CO2e per square metre (Scope 1 & 2) beyond those required for carbon neutral certification.
Darling Park Tower 1 has achieved a 6.0 star NABERS Energy rating (including GreenPower) a 4.0 star NABERS Water rating, and a 2.5 star NABERS Waste rating. Darling Park Tower 2 has achieved a 6.0 star NABERS Energy rating (including GreenPower), a 4.5 star NABERS Water rating and a 3.0 star NABERS Waste rating. The Towers have also been awarded 6 Star Green Star – Performance Ratings.
Note: Comprehensive sustainability data, including asset-level reporting, is available at gpt.com.au/sustainability . Data is current to 31 December 2020 and as presented for assurance according to Global Reporting Initiative (GRI) Sustainability Reporting Standards and the Greenhouse Gas Protocol. Ratings are as at 31 December 2020.
THE GPT GROUP | PROPERTY COMPENDIUM
35
OFFICE PORTFOLIO
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Eclipse Tower
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60 Station Street, Parramatta
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36 OFFICE PORTFOLIO
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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 2020
| General | |
|---|---|
| Ownership Interest | 100% GPT |
| Acquired (by GPT) | September 2018 |
| Asset Quality | A-Grade |
| Construction/Refurbishment | 2012 |
| Traditional Custodians | Traditional land of the Burramatagal clan of |
| the Darug people | |
| Property Details | |
| Ofce | 25,100 sqm |
| Retail | 600 sqm |
| Car Parking Spaces | 145 |
| Typical Floor Plate | 1,320 sqm |
| Ofce Tenant Details | |
| Number of Ofce Tenants | 5 |
| WALE (by income) | 1.8 years |
| Current Valuation | |
|---|---|
| Fair Value | $273.0m |
| Capitalisation Rate | 5.13% |
| Valuation Type | Independent |
| Ofce Occupancy | |
| Actual | 100.0% |
| Including Signed Leases | 100.0% |
| Including Heads of Agreement | 100.0% |
Key Tenants
| Key Tenants | |
|---|---|
| QBE Deloite |
Area (sqm) |
| 11,910 5,290 |
Lease Expiry Profile (by Income)
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67%
27%
6%
0% 0% 0% 0% 0% 0% 0% 0%
2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031+
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Sustainability
The property comprises a 19 level modern office building with a 5.5 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 2020 and as presented for assurance according to Global Reporting Initiative (GRI) Sustainability Reporting Standards and the Greenhouse Gas Protocol. Ratings are as at 31 December 2020.
THE GPT GROUP | PROPERTY COMPENDIUM
OFFICE PORTFOLIO 37
4 Murray Rose Avenue Sydney Olympic Park
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38 OFFICE PORTFOLIO
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4 Murray Rose Avenue, Sydney Olympic Park
4 Murray Rose Avenue is an A-Grade office building comprising 15,600 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 2020
General Ownership Interest 100% GPT Construction/Refurbishment Completed 2018 Asset Quality A-Grade Traditional Custodians Traditional land of the Wanngal people
Current Valuation
| Current Valuation | |
|---|---|
| Fair Value | $143.0m |
| Capitalisation Rate | 5.13% |
| Valuation Type | Independent |
| Property Details | |
|---|---|
| Ofce | 15,600 sqm |
| Retail | 100 sqm |
| Car Parking Spaces | 232 |
| Typical Floor Plate | 3,010 sqm |
| Ofce Tenant Details | |
| Number of Ofce Tenants | 5 |
| WALE (by income) | 8.6 years |
| Ofce Occupancy | |
|---|---|
| Actual | 97.1% |
| Including Signed Leases | 98.8% |
| Including Heads of Agreement | 100.0% |
Key Tenants
| Key Tenants | |
|---|---|
| NSW Rural Fire Service Toyota |
Area (sqm) |
| 9,290 2,530 |
Lease Expiry Profile (by Income)
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66%
22%
10%
0% 0% 2% 0% 0% 0% 0% 0%
2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031+
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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 2020 and as presented for assurance according to Global Reporting Initiative (GRI) Sustainability Reporting Standards and the Greenhouse Gas Protocol.
THE GPT GROUP | PROPERTY COMPENDIUM
OFFICE PORTFOLIO 39
Melbourne Central Tower 360 Elizabeth Street, Melbourne
40 OFFICE PORTFOLIO
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 2020
General
Ownership Interest 100% GPT Acquired (by GPT) May 1999 Asset Quality Premium Grade Construction/Refurbishment Completed 1991/Refurbished 2020 Traditional Custodians Traditional land of the Kulin nations
Current Valuation
Fair Value $729.0m Capitalisation Rate 4.88% Valuation Type Independent
Property Details
Office 65,500 sqm Retail 40 sqm Car Parking Spaces N/A Typical Floor Plate 1,480 sqm Office Tenant Details Number of Office Tenants 43 WALE (by income) 6.0 years
Office Occupancy
Actual 95.8% Including Signed Leases 96.4% Including Heads of Agreement 96.8% Key Tenants Area (sqm) Members Equity Bank 14,170 Allianz 7,800
Lease Expiry Profile (by Income)
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32%
25%
10% 11%
5% 4% 6% 4%
2% 2%
0%
2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031+
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Sustainability
The building has a 5.5 star NABERS Energy rating (including GreenPower) 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 2020 and as presented for assurance according to Global Reporting Initiative (GRI) Sustainability Reporting Standards and the Greenhouse Gas Protocol. NABERS Ratings are as at 31 December 2020.
THE GPT GROUP | PROPERTY COMPENDIUM
41
OFFICE PORTFOLIO
181 William & 550 Bourke Streets Melbourne
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42 OFFICE PORTFOLIO
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181 William & 550 Bourke Streets, Melbourne
181 William 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 2020
General
Ownership Interest 50% GPT Co-Owner 50% GWOF Acquired (by GPT) October 2014 Asset Quality A-Grade Construction/Refurbishment Completed 2009/Refurbished 2020 (550 Bourke Street) and underway (181 William Street) Traditional Custodians Traditional land of the Kulin nations Property Details Office 76,200 sqm Retail 5,200 sqm Car Parking Spaces 413 Typical Floor Plate 181 William: 1,920 sqm, 550 Bourke: 1,510 sqm Office Tenant Details Number of Office Tenants 11 WALE (by income) 5.2 years
Current Valuation
Fair Value $414.5m Capitalisation Rate 5.00% Valuation Type Independent
Office Occupancy Actual 67.6% Including Signed Leases 77.5% Including Heads of Agreement 77.5%
Key Tenants Area (sqm) IAG 24,750 Ashurst 8,900
Lease Expiry Profile (by Income)
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33%
28%
11% 12%
8%
4% 4%
0% 0% 1% 0%
2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031+
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Sustainability
Both 181 William and 550 Bourke are certified carbon neutral using the NABERS verification pathway of Climate Active for Buildings, in alignment with the international Greenhouse Gas Protocol. In 2020, investment in both carbon offsets and carbon removal projects delivered a net positive impact on the environment, removing an additional 6 kilograms of CO2e per square metre (Scope 1 & 2) beyond those required for carbon neutral certification.
Both 181 William Street and 550 Bourke Street achieved 5 star Green Star – Design and As Built ratings, as well as 6.0 star NABERS Energy Ratings (including GreenPower). Together, they have achieved 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 2020 and as presented for assurance according to Global Reporting Initiative (GRI) Sustainability Reporting Standards and the Greenhouse Gas Protocol. Ratings are as at 31 December 2020.
THE GPT GROUP | PROPERTY COMPENDIUM
OFFICE PORTFOLIO 43
One One One Eagle Street Brisbane
44
OFFICE PORTFOLIO
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 2020
| Key Metrics as at 31 December 2020 | ||
|---|---|---|
| General Ownership Interest 33.33% GPT Co-Owners 66.67% GWOF Acquired (by GPT) October 2008 Asset Quality Premium Grade Construction/Refurbishment Completed 2012 Traditional Custodians Traditional land of the Turrbul and the Jagera people Property Details Ofce 63,800 sqm Retail 400 sqm Car Parking Spaces 114 Typical Floor Plate 1,450 sqm Ofce Tenant Details Number of Ofce Tenants 25 WALE (by income) 5.2 years |
Current Valuation | |
| Fair Value Capitalisation Rate Valuation Type Ofce Occupancy |
$295.3m 5.00% Independent |
|
| Actual Including Signed Leases Including Heads of Agreement Key Tenants |
96.5% 96.5% 96.5% |
|
| EY Arrow Energy |
Area (sqm) | |
| 7,500 7,470 |
Lease Expiry Profile (by Income)
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31%
24%
12%
8% 9% 9%
3% 4%
0% 0% 0%
2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031+
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Sustainability
One One One Eagle Street is certified carbon neutral using the NABERS verification pathway of Climate Active for Buildings, in alignment with the international Greenhouse Gas Protocol. In 2020, investment in both carbon offsets and carbon removal projects delivered a net positive impact on the environment, removing an additional 16 kilograms of CO2e per square metre (Scope 1 & 2) beyond those required for carbon neutral certification.
The building has also achieved a 6 star Green Star – Design and As Built rating, a 6.0 star NABERS Energy rating (including GreenPower) a 4.0 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 2020 and as presented for assurance according to Global Reporting Initiative (GRI) Sustainability Reporting Standards and the Greenhouse Gas Protocol. Ratings are as at 31 December 2020.
THE GPT GROUP | PROPERTY COMPENDIUM
OFFICE PORTFOLIO 45
Liberty Place 161 Castlereagh Street, Sydney
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46 OFFICE PORTFOLIO
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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 2020
| Key Metrics as at 31 December 2020 | ||
|---|---|---|
| General Ownership Interest 50% GWOF Co-Owner 50% ISPT Acquired (by GWOF) April 2010 Asset Quality Premium Grade Construction/Refurbishment Completed 2013 Traditional Custodians Traditional land of the Gadigal people of the Eora nation 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) 7.3 years |
Current Valuation | |
| Fair Value Capitalisation Rate Valuation Type Ofce Occupancy |
$775.0m 4.38% Independent |
|
| Actual Including Signed Leases Including Heads of Agreement Key Tenants |
100.0% 100.0% 100.0% |
|
| ANZ Herbert Smith Freehills |
Area(sqm) | |
| 28,410 15,560 |
Lease Expiry Profile (by Income)
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37%
26%
16%
11%
9%
0% 0% 0% 0% 0% 0%
2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031+
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Sustainability
Liberty Place is certified carbon neutral using the NABERS verification pathway of Climate Active for Buildings, in alignment with the international Greenhouse Gas Protocol. In 2020, investment in both carbon offsets and carbon removal projects delivered a net positive impact on the environment, removing an additional 5 kilograms of CO2e per square metre (Scope 1 & 2) beyond those required for carbon neutral certification.
The asset has achieved 6 star Green Star – Design, As Built and Performance ratings, a 6.0 star NABERS Energy rating (including GreenPower), a 4.5 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 2020 and as presented for assurance according to Global Reporting Initiative (GRI) Sustainability Reporting Standards and the Greenhouse Gas Protocol. Ratings are as at 31 December 2020.
THE GPT GROUP | PROPERTY COMPENDIUM
47
OFFICE PORTFOLIO
Darling Park 3 201 Sussex Street, Sydney
48 OFFICE PORTFOLIO
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 2020
General Ownership Interest 100% GWOF Acquired (by GWOF) July 2006 Asset Quality Premium Grade Construction/Refurbishment Completed 2005/Refurbished 2017 Traditional Custodians Traditional land of the Gadigal people of the Eora nation Property Details Office 29,800 sqm Retail 30 sqm Car Parking Spaces 137 Typical Floor Plate 1,500 sqm Office Tenant Details Number of Office Tenants 7 WALE (by income) 5.0 years
Current Valuation Fair Value $596.0m Capitalisation Rate 4.88% Valuation Type Independent Office Occupancy Actual 100.0% Including Signed Leases 100.0% Including Heads of Agreement 100.0% Key Tenants Area (sqm) Rabobank 7,560 Salesforce 5,880
Lease Expiry Profile (by Income)
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29%
23% 24%
19%
5%
0% 0% 0% 0% 0% 0%
2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031+
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Sustainability
Darling Park Tower 3 is certified carbon neutral using the NABERS verification pathway of Climate Active for Buildings, in alignment with the international Greenhouse Gas Protocol. In 2020, investment in both carbon offsets and carbon removal projects delivered a net positive impact on the environment, removing an additional 4 kilograms of CO2e per square metre (Scope 1 & 2) beyond those required for carbon neutral certification.
Tower 3 has achieved a 6 Star Green Star – Performance Rating, a 6.0 star NABERS Energy rating (including GreenPower), a 4.5 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 2020 and as presented for assurance according to Global Reporting Initiative (GRI) Sustainability Reporting Standards and the Greenhouse Gas Protocol. NABERS Ratings are as at 31 December 2020.
THE GPT GROUP | PROPERTY COMPENDIUM
49
OFFICE PORTFOLIO
580 George Street Sydney
50
OFFICE PORTFOLIO
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.
During 2020 a number of healthy building initiatives have been installed including touch free lift and access enablement and improved air quality through air filtration upgrades and ultraviolet air purification.
Key Metrics as at 31 December 2020
| Key Metrics as at 31 December 2020 | ||
|---|---|---|
| General Ownership Interest 100% GWOF Acquired (by GWOF) July 2006 Asset Quality A-Grade Construction/Refurbishment Completed 1988/Refurbished 2002/2015 Traditional Custodians Traditional land of the Gadigal people of the Eora nation 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 23 WALE (by income) 4.4 years |
Current Valuation | |
| Fair Value Capitalisation Rate Valuation Type Ofce Occupancy |
$627.0m 4.88% Independent |
|
| Actual Including Signed Leases Including Heads of Agreement Key Tenants |
93.0% 94.0% 95.6% |
|
| Arcadis Uber |
Area(sqm) | |
| 4,260 3,890 |
Lease Expiry Profile (by Income)
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21% 22%
18%
14%
12% 12%
1% 0% 0% 2% 0%
2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031+
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Sustainability
580 George Street is certified carbon neutral using the NABERS verification pathway of Climate Active for Buildings, in alignment with the international Greenhouse Gas Protocol. In 2020, investment in both carbon offsets and carbon removal projects delivered a net positive impact on the environment, removing an additional 3 kilograms of CO2e per square metre (Scope 1 & 2) beyond those required for carbon neutral certification.
The building has also achieved a 6.0 star NABERS Energy rating (including GreenPower), a 5.0 star NABERS Water rating and a 3.5 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 2020 and as presented for assurance according to Global Reporting Initiative (GRI) Sustainability Reporting Standards and the Greenhouse Gas Protocol. Ratings are as at 31 December 2020.
THE GPT GROUP | PROPERTY COMPENDIUM
OFFICE PORTFOLIO 51
workplace[6]
48 Pirrama Road, Sydney
52
OFFICE PORTFOLIO
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 2020
| Key Metrics as at 31 December 2020 | ||
|---|---|---|
| General Ownership Interest 100% GWOF Acquired (by GWOF) December 2007 Asset Quality A-Grade Construction/Refurbishment Completed 2008 Traditional Custodians Traditional land of the Gadigal people of the Eora nation 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) 7.9 years |
Current Valuation | |
| Fair Value Capitalisation Rate Valuation Type Ofce Occupancy |
$324.0m 4.88% Independent |
|
| Actual Including Signed Leases Including Heads of Agreement Key Tenants |
100.0% 100.0% 100.0% |
|
| Area(sqm) | ||
| 16,300 |
Lease Expiry Profile (by Income)
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100%
0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031+
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Sustainability
workplace[6] is certified carbon neutral using the NABERS verification pathway of Climate Active for Buildings, in alignment with the international Greenhouse Gas Protocol. In 2020, investment in both carbon offsets and carbon removal projects delivered a net positive impact on the environment, removing an additional 3 kilograms of CO2e per square metre (Scope 1 & 2) beyond those required for carbon neutral certification.
The building was Sydney’s first building to deliver a 6 Star Green Star As Built rating. It has also achieved a 6.0 star NABERS Energy rating (including GreenPower), a 5.0 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 2020 and as presented for assurance according to Global Reporting Initiative (GRI) Sustainability Reporting Standards and the Greenhouse Gas Protocol. Ratings are as at 31 December 2020.
THE GPT GROUP | PROPERTY COMPENDIUM
OFFICE PORTFOLIO 53
87–91 George Street Parramatta
54 OFFICE PORTFOLIO
87–91 George Street, Parramatta
The property consists of three adjoining sites located within the Parramatta CBD. The first site is situated at 87-89 George Street with existing improvements comprising a single storey warehouse-showroom with a mechanic workshop and onsite parking to the rear. The second site situated at 91 George Street comprises a 7-storey strata office building (67 lots) with basement and rear car parking for 32 cars. The third and final site (1/85 George Street, known as Perth House) is a single storey strata titled heritage sandstone cottage constructed in 1841 and includes a single basement car park. The combined site represents a future development opportunity for the fund.
Key Metrics as at 31 December 2020
General
Ownership Interest 100% GWOF Acquired (by GWOF) June 2020, September 2020 Asset Quality Strata titled low rise office/future development site Construction/Refurbishment 1841 (restored 1991), 1985 Traditional Custodians Traditional land of the Burramattagal clan of the Darug people
Current Valuation
Fair Value $70.7m Valuation Type Independent
Office Occupancy
87–91 George Street is held for future development and is not included in portfolio occupancy metrics.
Sustainability
No sustainability data reported due to the asset being held for redevelopment.
Note: Artists impression of proposed future development site used in both images.
THE GPT GROUP | PROPERTY COMPENDIUM
OFFICE PORTFOLIO 55
2 Southbank Boulevard Melbourne
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56 OFFICE PORTFOLIO
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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 53,400 sqm of office accommodation providing CBD and water views.
Key Metrics as at 31 December 2020
General
Ownership Interest 100% GWOF Acquired (by GWOF) June 2014 (50%) and March 2019 (50%) Asset Quality Premium Construction/Refurbishment Completed 2008/Refurbished 2018 Traditional Custodians Traditional land of the Kulin nations
Current Valuation
Fair Value $658.0m Capitalisation Rate 4.88% Valuation Type Independent
Property Details Office 53,400 sqm Retail 1,500 sqm Car Parking Spaces 537 Typical Floor Plate 1,860 sqm Office Tenant Details Number of Office Tenants 27 WALE (by income) 5.4 years
Office Occupancy
Actual 91.1% Including Signed Leases 91.1% Including Heads of Agreement 91.1%
Key Tenants
Area (sqm) AusNet Services 7,690 CUB 6,390
Lease Expiry Profile (by Income)
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22%
16% 16% 16%
14%
6% 5% 4%
2%
0% 0%
2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031+
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Sustainability
2 Southbank Boulevard is certified carbon neutral using the NABERS verification pathway of Climate Active for Buildings, in alignment with the international Greenhouse Gas Protocol. In 2020, investment in both carbon offsets and carbon removal projects delivered a net positive impact on the environment, removing an additional 4 kilograms of CO2e per square metre (Scope 1 & 2) beyond those required for carbon neutral certification.
2 Southbank Boulevard has achieved a 6 Star Green Star – Performance rating, a 6.0 star NABERS Energy rating (including GreenPower), 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 2020 and as presented for assurance according to Global Reporting Initiative (GRI) Sustainability Reporting Standards and the Greenhouse Gas Protocol. Ratings are as at 31 December 2020.
THE GPT GROUP | PROPERTY COMPENDIUM
OFFICE PORTFOLIO 57
8 Exhibition Street Melbourne
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58 OFFICE PORTFOLIO
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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 2020
General
Ownership Interest 50% GWOF Co-Owner 50% KREIT Acquired (by GWOF) April 2013 Asset Quality Premium Grade Construction/Refurbishment Completed 2005/Refurbished 2020 Traditional Custodians Traditional land of the Kulin nations Property Details Office 44,500 sqm Retail 100 sqm Car Parking Spaces N/A Typical Floor Plate 1,620 sqm Office Tenant Details Number of Office Tenants 20 WALE (by income) 4.3 years
Current Valuation Fair Value $297.0m Capitalisation Rate 4.75% Valuation Type Independent Office 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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35%
15%
10% 12% 12% 10%
5%
0% 0% 0% 0%
2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031+
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Sustainability
8 Exhibition Street is certified carbon neutral using the NABERS verification pathway of Climate Active for Buildings, in alignment with the international Greenhouse Gas Protocol. In 2020, investment in both carbon offsets and carbon removal projects delivered a net positive impact on the environment, removing an additional 5 kilograms of CO2e per square metre (Scope 1 & 2) beyond those required for carbon neutral certification.
The building has achieved a 6.0 star NABERS Energy rating (including GreenPower), a 3.0 star NABERS Waste rating, and a 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 2020 and as presented for assurance according to Global Reporting Initiative (GRI) Sustainability Reporting Standards and the Greenhouse Gas Protocol. Ratings are as at 31 December 2020.
THE GPT GROUP | PROPERTY COMPENDIUM
OFFICE PORTFOLIO 59
32 Flinders Street Melbourne
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60 OFFICE PORTFOLIO
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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 2020
General
Ownership Interest 100% GWOF Acquired (by GWOF) August 2018 Asset Quality Car park/future development site Construction/Refurbishment Completed 1998 Traditional Custodians Traditional land of the Kulin nations
Current Valuation
Fair Value $82.0m Capitalisation Rate N/A Valuation Type Independent
Office Occupancy
32 Flinders Street is currently configured as a carpark and is held for future development so is not included in portfolio occupancy metrics.
Sustainability
No sustainability data reported due to current carpark usage of the site.
THE GPT GROUP | PROPERTY COMPENDIUM
OFFICE PORTFOLIO 61
Queen & Collins Melbourne
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OFFICE PORTFOLIO
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62
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 redeveloped building will offer high quality office space in a building of unique character, which is expected to deliver distinctive tenant experiences and excellent sustainability outcomes.
Key Metrics as at 31 December 2020
General Ownership Interest 100% GWOF Acquired (by GWOF) December 2016 Asset Quality A-Grade Construction/Refurbishment Completed 1993 (Office Tower)/ Redevelopment Underway Traditional Custodians Traditional land of the Kulin nations
Current Valuation Fair Value $377.0m Capitalisation Rate 4.75% Valuation Type Independent
Property Details Office 34,900 sqm Retail 1,400 sqm Car Parking Spaces 56 Typical Floor Plate Poduim: 1,320 sqm, Tower: 910 sqm
Office Occupancy Queen & Collins is currently undergoing redevelopment and is not included in portfolio occupancy metrics.
Sustainability
The redevelopment has achieved a 5 Star Green Star Design & As Built rating at Design Review stage. No sustainability data reported as site is currently undergoing redevelopment.
THE GPT GROUP | PROPERTY COMPENDIUM
OFFICE PORTFOLIO 63
150 Collins Street
Melbourne
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64 OFFICE PORTFOLIO
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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 2020
General Ownership Interest 100% GWOF Acquired (by GWOF) July 2012 Asset Quality A-Grade Construction/Refurbishment Completed 2014 Traditional Custodians Traditional land of the Kulin nations Property Details Office 19,100 sqm Retail 800 sqm Car Parking Spaces 143 Typical Floor Plate 1,520 sqm Office Tenant Details Number of Office Tenants 5 WALE (by income) 5.5 years
| Current Valuation | |
|---|---|
| Fair Value Capitalisation Rate Valuation Type Ofce Occupancy |
$270.0m 4.75% Independent |
| Actual Including Signed Leases Including Heads of Agreement Key Tenants |
100.0% 100.0% 100.0% |
| Westpac Group VECCI |
Area (sqm) |
| 14,600 2,800 |
Lease Expiry Profile (by Income)
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79%
15%
0% 0% 5% 2% 0% 0% 0% 0% 0%
2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031+
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Sustainability
150 Collins Street is certified carbon neutral using the NABERS verification pathway of Climate Active for Buildings, in alignment with the international Greenhouse Gas Protocol. In 2020, investment in both carbon offsets and carbon removal projects delivered a net positive impact on the environment, removing an additional 7 kilograms of CO2e per square metre (Scope 1 & 2) beyond those required for carbon neutral certification.
The building has achieved a 6 star Green Star – Design and As Built rating, a 6.0 star NABERS Energy rating (including GreenPower), a 4.0 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 2020 and as presented for assurance according to Global Reporting Initiative (GRI) Sustainability Reporting Standards and the Greenhouse Gas Protocol. Ratings are as at 31 December 2020.
THE GPT GROUP | PROPERTY COMPENDIUM
OFFICE PORTFOLIO 65
530 Collins Street
Melbourne
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66 OFFICE PORTFOLIO
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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 2020
General Ownership Interest 100% GWOF Acquired (by GWOF) July 2006 Asset Quality Premium Grade Construction/Refurbishment Completed 1991/Refurbished 2009 and underway Traditional Custodians Traditional land of the Kulin nations
Current Valuation Fair Value $741.0m Capitalisation Rate 4.75% Valuation Type Independent
Property Details Office 65,200 sqm Retail 1,600 sqm Car Parking Spaces 304 Typical Floor Plate Tower: 1,260 sqm, Podium: 3,510 sqm Office Tenant Details Number of Office Tenants 26 WALE (by income) 3.4 years
Office Occupancy Actual 90.1% Including Signed Leases 90.3% Including Heads of Agreement 91.9% Key Tenants Area (sqm) Suncorp 15,450 Mills Oakley 5,390
Lease Expiry Profile (by Income)
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46%
14%
11% 8% 9%
4% 5%
0% 2% 1% 0%
2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031+
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Sustainability
530 Collins Street is certified carbon neutral using the NABERS verification pathway of Climate Active for Buildings, in alignment with the international Greenhouse Gas Protocol. In 2020, investment in both carbon offsets and carbon removal projects delivered a net positive impact on the environment, removing an additional 4 kilograms of CO2e per square metre (Scope 1 & 2) beyond those required for carbon neutral certification.
530 Collins Street has 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 2020 and as presented for assurance according to Global Reporting Initiative (GRI) Sustainability Reporting Standards and the Greenhouse Gas Protocol. Ratings are as at 31 December 2020.
THE GPT GROUP | PROPERTY COMPENDIUM
OFFICE PORTFOLIO 67
655 Collins Street
Melbourne
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68 OFFICE PORTFOLIO
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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 2020
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General Current Valuation
Ownership Interest 100% GWOF Fair Value $172.0m
Acquired (by GWOF) May 2014 Capitalisation Rate 4.75%
Asset Quality A-Grade Valuation Type Independent
Construction/Refurbishment Completed 2009
Traditional Custodians Traditional land of the Kulin nations
Property Details Office Occupancy
Office 16,600 sqm Actual 100.0%
Retail N/A Including Signed Leases 100.0%
Car Parking Spaces 89 Including Heads of Agreement 100.0%
Typical Floor Plate 2,500 sqm
Office Tenant Details Key Tenants
Number of Office Tenants 1 Area (sqm)
WALE (by income) 8.9 years Nine 16,600
Lease Expiry Profile (by Income)
100%
0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031+
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Sustainability
655 Collins Street is certified carbon neutral using the NABERS verification pathway of Climate Active for Buildings, in alignment with the international Greenhouse Gas Protocol. In 2020, investment in both carbon offsets and carbon removal projects delivered a net positive impact on the environment, removing an additional 12 kilograms of CO2e per square metre (Scope 1 & 2) beyond those required for carbon neutral certification.
655 Collins Street has achieved a 5 star Green Star – Design and As Built Rating, a 6.0 star NABERS Energy rating (including Green Power), a 4.5 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 2020 and as presented for assurance according to Global Reporting Initiative (GRI) Sustainability Reporting Standards and the Greenhouse Gas Protocol. Ratings are as at 31 December 2020.
THE GPT GROUP | PROPERTY COMPENDIUM
69
OFFICE PORTFOLIO
750 Collins Street Melbourne
70
OFFICE PORTFOLIO
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 2020
General
Ownership Interest 100% GWOF Acquired (by GWOF) May 2014 Asset Quality A-Grade Construction/Refurbishment Completed 2007/Refurbished 2020 Traditional Custodians Traditional land of the Kulin nations Property Details Office 41,400 sqm Retail N/A Car Parking Spaces 422 Typical Floor Plate 5,660 sqm Office Tenant Details Number of Office Tenants 1 WALE (by income) 14.8 years
Current Valuation
Fair Value $477.5m Capitalisation Rate 4.75% Valuation Type Independent
Office Occupancy
Actual 100.0% Including Signed Leases 100.0% Including Heads of Agreement 100.0%
Key Tenants
Area (sqm) Monash College 41,400
Lease Expiry Profile (by Income)
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100%
0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031+
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Sustainability
750 Collins Street is not reported as undergoing refurbishment, ahead of tenant management of the asset.
THE GPT GROUP | PROPERTY COMPENDIUM
71
OFFICE PORTFOLIO
800/808 Bourke Street Melbourne
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72 OFFICE PORTFOLIO
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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 2020
General
Ownership Interest 100% GWOF Acquired (by GWOF) July 2006 Asset Quality A-Grade Construction/Refurbishment Completed 2004 Traditional Custodians Traditional land of the Kulin nations
Current Valuation
Fair Value $580.0m Capitalisation Rate 5.15% Valuation Type Independent
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) 6.6 years
Office 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)
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100%
0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031+
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Sustainability
800/808 Bourke Street is certified carbon neutral using the NABERS verification pathway of Climate Active for Buildings, in alignment with the international Greenhouse Gas Protocol. In 2020, investment in both carbon offsets and carbon removal projects delivered a net positive impact on the environment, removing an additional 4 kilograms of CO2e per square metre (Scope 1 & 2) beyond those required for carbon neutral certification.
800/808 Bourke Street has a 6.0 star NABERS Energy rating (including GreenPower) and 4.0 star NABERS Water rating, and was the first building in Australia 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 2020 and as presented for assurance according to Global Reporting Initiative (GRI) Sustainability Reporting Standards and the Greenhouse Gas Protocol. Ratings are as at 31 December 2020.
THE GPT GROUP | PROPERTY COMPENDIUM
73
OFFICE PORTFOLIO
Riverside Centre
123 Eagle Street, Brisbane
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74 OFFICE PORTFOLIO
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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 2020
General
Ownership Interest 100% GWOF Acquired (by GWOF) July 2006 Asset Quality Premium Grade Construction/Refurbishment Completed 1986/Refurbished 2017 Traditional Custodians Traditional land of the Turrbul and the Jagera people
Property Details Office 51,400 sqm Retail 4,500 sqm Car Parking Spaces 497 Typical Floor Plate 1,500 sqm Office Tenant Details Number of Office Tenants 37 WALE (by income) 6.5 years
Current Valuation
Fair Value $732.0m Capitalisation Rate 5.00% Valuation Type Independent
Office Occupancy Actual 92.6% Including Signed Leases 92.9% Including Heads of Agreement 92.9% Key Tenants Area (sqm) Deloitte 7,890 Westpac Group 6,720
Lease Expiry Profile (by Income)
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24%
21%
20%
8%
6% 6%
5%
4%
3%
2%
0%
2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031+
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Sustainability
Riverside Centre is certified carbon neutral using the NABERS verification pathway of Climate Active for Buildings, in alignment with the international Greenhouse Gas Protocol.
The building has also achieved a 6.0 star NABERS Energy rating (including GreenPower), a 4.0 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 2020 and as presented for assurance according to Global Reporting Initiative (GRI) Sustainability Reporting Standards and the Greenhouse Gas Protocol. Ratings are as at 31 December 2020.
THE GPT GROUP | PROPERTY COMPENDIUM
75
OFFICE PORTFOLIO
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December
Rosehill Business Park, Camellia, NSW
Rosehill Business Park comprises three office and warehouse facilities leased to a number of national occupiers including Australian Pharmaceutical Industries (API) and Linfox. Camellia is located approximately 3 radial kilometres east of the Parramatta CBD and benefits from its close proximity to the M4 Motorway and James Ruse Drive.
Key Metrics as at 31 December 2020
General
Ownership Interest 100% GPT Acquired (by GPT) May 1998 Traditional Custodians Traditional land of the Darug people Property Details GLA 41,900 sqm Site Area 79,900 sqm WALE (by income) 2.3 years
| Current Valuation | |
|---|---|
| Fair Value | $104.5m |
| Capitalisation Rate | 5.25% |
| Valuation Type | Independent |
| Occupancy | |
| Actual | 100.0% |
| Including Signed Leases | 100.0% |
| Including Heads of Agreement | 100.0% |
77 LOGISTICS PORTFOLIO
10 Interchange Drive, Eastern Creek, NSW
The asset comprises a modern office and warehouse facility leased to Jalco Australia. Eastern Creek is a core occupier market, located 14 radial kilometres west of the Parramatta CBD and within close proximity of the M4 and M7 Motorways.
Key Metrics as at 31 December 2020
| General | |
|---|---|
| Ownership Interest | 100% GPT |
| Acquired (by GPT) | August 2012 |
| Traditional Custodians | Traditional land of the Darug people |
Current Valuation
Fair Value $42.0m Capitalisation Rate 4.63% Valuation Type Independent
Property Details
GLA 15,200 sqm Site Area 30,200 sqm WALE (by income) 6.8 years
Occupancy
| Occupancy | |
|---|---|
| Actual | 100.0% |
| Including Signed Leases | 100.0% |
| Including Heads of Agreement | 100.0% |
THE GPT GROUP | PROPERTY COMPENDIUM
LOGISTICS PORTFOLIO 78
Connect@Erskine Park, Lockwood and Templar Roads, Erskine Park, NSW
Developed by GPT, Connect@Erskine Park comprises a five asset estate leased to various national retail and transport operators. Erskine Park is a core occupier market, located approximately 19 radial kilometres west of the Parramatta CBD and within close proximity of the M4 and M7 motorways.
Key Metrics as at 31 December 2020
General
| General | |||||
|---|---|---|---|---|---|
| Ownership Interest | 100% GPT | ||||
| Traditional Custodians | Traditional land of the | Darug people | |||
| Property Details | |||||
| 16–34 Templar Road | 36–52 Templar Road | 54–70 Templar Road | 67–75 Templar Road | 29–55 Lockwood Road | |
| (Goodman Fielder) | (Scot’s Refrigerated | (Coles RRM) | (Target) | (TNT Australia) | |
| Logistics) | |||||
| 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) | 8.5 years | 14.1 years | 14.5 years | 1.1 years | 9.0 years |
| Current Valuation | |||||
| Fair Value | $72.0m | $130.0m | $179.0m | $28.8m | $123.7m |
| Capitalisation Rate | 4.50% | 4.50% | 4.63% | 5.00% | 4.38% |
| Valuation Type | Independent | Independent | Independent | Independent | Independent |
| 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% |
79 LOGISTICS PORTFOLIO
57-87 & 89-99 Lockwood Road, Erskine Park, NSW
The asset comprises two modern office and warehouse facilities leased to Rondo and CSR respectively. The assets are located directly adjacent to GPT’s Connect@Erskine Park estate. Erskine Park is a core occupier market located approximately 19 radial kilometres west of the Parramatta CBD and within close proximity of the M4 and M7 Motorways.
Key Metrics as at 31 December 2020
General
Ownership Interest 100% GPT Acquired (by GPT) July 2019 Traditional Custodians Traditional land of the Darug people
Current Valuation
Fair Value $110.5m Capitalisation Rate 4.38% Valuation Type Independent
Property Details
GLA 37,700 sqm Site Area 92,400 sqm WALE (by income) 9.2 years
Occupancy
Actual 100.0% Including Signed Leases 100.0% Including Heads of Agreement 100.0%
THE GPT GROUP | PROPERTY COMPENDIUM
LOGISTICS PORTFOLIO 80
128 Andrews Road, Penrith, NSW
Completed in September 2020, the asset comprises a purpose built warehouse and distribution facility leased to Visy Glass. The facility is strategically located directly adjacent to the occupier’s manufacturing operations.
Penrith is located approximately 29 radial kilometres west of the Parramatta CBD and within close proximity of major road networks including the M4, Great Western Highway and Northern Road.
Key Metrics as at 31 December 2020
General
Ownership Interest 100% GPT Developed (by GPT) September 2020 Traditional Custodians Traditional land of the Darug people
Current Valuation
Fair Value $93.6m Capitalisation Rate 4.50% Valuation Type Independent
Property Details
GLA 50,200 sqm Site Area 121,400 sqm WALE (by income) 9.7 years
Occupancy
Actual 100.0% Including Signed Leases 100.0% Including Heads of Agreement 100.0%
81 LOGISTICS PORTFOLIO
128 Andrews Road, Penrith, NSW
Completed in September 2020, the asset comprises a purpose built warehouse and distribution facility leased to Visy Glass. The facility is strategically located directly adjacent to the occupier’s manufacturing operations.
Penrith is located approximately 29 radial kilometres west of the Parramatta CBD and within close proximity of major road networks including the M4, Great Western Highway and Northern Road.
Key Metrics as at 31 December 2020
General
Ownership Interest 100% GPT Developed (by GPT) September 2020 Traditional Custodians Traditional land of the Darug people
Current Valuation
Fair Value $93.6m Capitalisation Rate 4.50% Valuation Type Independent
Property Details
GLA 50,200 sqm Site Area 121,400 sqm WALE (by income) 9.7 years
Occupancy
Actual 100.0% Including Signed Leases 100.0% Including Heads of Agreement 100.0%
81 LOGISTICS PORTFOLIO
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 2020
General
Ownership Interest 50% GPT Co-Owner 50% Austrak Acquired (by GPT) October 2008 Traditional Custodians Traditional land of the Dharawal people
Current Valuation
Fair Value $35.0m[1] Capitalisation Rate 5.50% Valuation Type Independent
Property Details
GLA 18,400 sqm Site Area 46,100 sqm[1] WALE (by income) 3.9 years
Occupancy
Actual 100.0% Including Signed Leases 100.0% Including Heads of Agreement 100.0%
- Excludes development land.
THE GPT GROUP | PROPERTY COMPENDIUM
LOGISTICS PORTFOLIO 82
4 Holker Street, Newington, NSW
The asset comprises a modern high-tech data centre located in Newington, approximately 5 radial kilometres south east of the Parramatta CBD. The asset is leased to TPG Telecom Limited.
Key Metrics as at 31 December 2020
General Ownership Interest 100% GPT Acquired (by GPT) March 2006 Traditional Custodians Traditional land of the Wanngal people
Current Valuation
Fair Value $42.0m Capitalisation Rate 5.50% Valuation Type Independent
Property Details
| Property Details | |
|---|---|
| GLA | 7,400 sqm |
| Site Area | 6,800 sqm |
| WALE (by income) | 5.7 years |
Occupancy
| Occupancy | |
|---|---|
| Actual | 100.0% |
| Including Signed Leases | 100.0% |
| Including Heads of Agreement | 100.0% |
83 LOGISTICS PORTFOLIO
83 Derby Street, Silverwater, NSW
The asset comprises a warehouse and office facility leased to IVE Group. It is located in the established occupier precinct of Silverwater, approximately 4 radial kilometres south east of the Parramatta CBD. It benefits from its close proximity to the M4 Motorway.
Key Metrics as at 31 December 2020
General
Ownership Interest 100% GPT Acquired (by GPT) August 2012 Traditional Custodians Traditional land of the Wanngal people
Current Valuation
Fair Value $45.0m Capitalisation Rate 4.88% Valuation Type Independent
Property Details
GLA 17,000 sqm Site Area 31,900 sqm WALE (by income) 5.0 years
Occupancy
Actual 100.0% Including Signed Leases 100.0% Including Heads of Agreement 100.0%
THE GPT GROUP | PROPERTY COMPENDIUM
LOGISTICS PORTFOLIO 84
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 2020
| General | |||||
|---|---|---|---|---|---|
| Ownership Interest | 100% GPT | ||||
| Traditional Custodians | Traditional land of the | Wanngal people | |||
| Property Details | |||||
| 3 Figtree Drive | 5 Figtree Drive | 7 Figtree Drive | 6 Herb Elliot Avenue | 8 Herb Elliot Avenue | |
| Acquired | 2013 | 2005 | 2004 | 2010 | 2004 |
| GLA | 6,800 sqm | 8,800 sqm | 3,500 sqm | 4,100 sqm | 3,300 sqm |
| Site Area | 12,900 sqm | 12,900 sqm | 9,600 sqm | 8,400 sqm | 9,100 sqm |
| WALE (by income) | 0.2 years | 2.8 years | 0.2 years | 1.1 years | 3.1 years |
| Current Valuation | |||||
| Fair Value (combined)1 | $152.7m | ||||
| Valuation Type | Independent/Other | ||||
| 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% |
- GPT received an offer of compensation from Sydney Metro following commercial negotiation regarding the compulsory acquisition for three of GPT’s properties at Sydney Olympic Park Town Centre. At 31 December 2020, these three assets have been classified as assets held for sale with a carrying value of $103.0 million based on the offer received. The fair value reflects the carrying value for the assets held for sale and the independent valuation completed as at 31 December 2020 for the remaining assets.
85
LOGISTICS PORTFOLIO
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.
Quad 1 building has achieved 5.5 star NABERS Energy, a 5.5 star NABERS Water rating and a 1.5 star NABERS Waste rating. Quad 4 was awarded a 5 Star Green Star Design rating by the Green Building Council of Australia.
Key Metrics as at 31 December 2020
General
Ownership Interest 100% GPT Traditional Custodians Traditional land of the Wanngal people
Current Valuation
Quad 1 Quad 4 Fair Value $31.0m $55.0m Capitalisation Rate 5.75% 5.38% Valuation Type Independent Independent
Property Details
Quad 1 Quad 4 Acquired/Developed (by GPT) 2001 2007 NLA 4,800 sqm 7,600 sqm Site Area 9,400 sqm 8,000 sqm WALE (by income) 1.9 years 9.8 years
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%
THE GPT GROUP | PROPERTY COMPENDIUM
LOGISTICS PORTFOLIO 86
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 leased to Infrabuild (formerly known as OneSteel).
Key Metrics as at 31 December 2020
General
Ownership Interest 100% GPT Acquired (by GPT) July 2006 Traditional Custodians Traditional land of the Darug people
Current Valuation
Fair Value $34.7m Capitalisation Rate 5.50% Valuation Type Independent
Property Details
GLA 20,500 sqm Site Area 41,700 sqm WALE (by income) 4.2 years
Occupancy
Actual 100.0% Including Signed Leases 100.0% Including Heads of Agreement 100.0%
87 LOGISTICS PORTFOLIO
38 Pine Road, Yennora, NSW
The asset comprises two modern warehouses with adjoining offices. It 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. It is leased to Schenker Australia.
Key Metrics as at 31 December 2020
General
Ownership Interest 100% GPT Acquired (by GPT) November 2013 Traditional Custodians Traditional land of the Darug people
Current Valuation
Fair Value $72.0m Capitalisation Rate 4.75% Valuation Type Independent
Property Details
GLA 33,800 sqm Site Area 73,900 sqm WALE (by income) 2.2 years
Occupancy
Actual 100.0% Including Signed Leases 100.0% Including Heads of Agreement 100.0%
THE GPT GROUP | PROPERTY COMPENDIUM
LOGISTICS PORTFOLIO 88
38A Pine Road, Yennora, NSW
Developed by GPT on surplus land adjoining an existing asset within the portfolio, the asset comprises an office and warehouse facility. Yennora is an established occupier market, located approximately 6 radial kilometres south west of the Parramatta CBD. The location benefits from its close proximity to the M4 Motorway and Cumberland Highway. The asset is leased to Westcon Group.
Key Metrics as at 31 December 2020
General
Ownership Interest 100% GPT Developed (by GPT) March 2020 Traditional Custodians Traditional land of the Darug people
Property Details GLA 4,800 sqm Site Area 11,100 sqm WALE (by income) 4.2 years
Current Valuation
Fair Value $13.6m Capitalisation Rate 4.75% Valuation Type Independent Occupancy Actual 100.0% Including Signed Leases 100.0% Including Heads of Agreement 100.0%
89 LOGISTICS PORTFOLIO
18–24 Abbott Road, Seven Hills, NSW
Developed by GPT, the asset comprises a modern dual tenancy office and warehouse facility. It is located in the established occupier market of Seven Hills, approximately 7 radial kilometres north west of the Parramatta CBD and within close proximity of the M7 and M2 Motorways. The asset is leased to Hills Limited and Easy Auto 123.
Key Metrics as at 31 December 2020
General
Ownership Interest 100% GPT Developed (by GPT) April 2017 Traditional Custodians Traditional land of the Darug people
Current Valuation
Fair Value $44.2m Capitalisation Rate 4.88% Valuation Type Independent
Property Details
GLA 18,100 sqm Site Area 40,500 sqm WALE (by income) 3.7 years
Occupancy
Actual 100.0% Including Signed Leases 100.0% Including Heads of Agreement 100.0%
THE GPT GROUP | PROPERTY COMPENDIUM
LOGISTICS PORTFOLIO 90
1A & 1B Huntingwood Drive, Huntingwood, NSW
Acquired by GPT in 2016 as a vacant building with adjoining land, the existing facility, known as Warehouse 1A was significantly upgraded to allow for more adaptive office and warehouse use. The facility is leased to IVE Group.
The adjoining land has been developed into a standalone office and warehouse facility, known as Warehouse 1B. The development reached practical completion in 2018 and is leased to Cahill Transport.
Huntingwood is located approximately 11 radial kilometres west of the Parramatta CBD and benefits from its close proximity to the M7 and M4 Motorways.
Key Metrics as at 31 December 2020
General Ownership Interest 100% GPT Traditional Custodians Traditional land of the Darug people
Current Valuation
1A Huntingwood Drive 1B Huntingwood Drive Fair Value $52.4m $28.0m Capitalisation Rate 4.75% 4.75% Valuation Type Independent Independent
Property Details
1A Huntingwood Drive 1B Huntingwood Drive Acquired/Developed (by GPT) 2017 2018 GLA 21,100 sqm 11,300 sqm Site Area 38,700 sqm 31,100 sqm WALE (by income) 6.6 years 2.7 years
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%
91 LOGISTICS PORTFOLIO
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 2020
General
Ownership Interest 100% GPT Developed (by GPT) October 2017 Traditional Custodians Traditional land of the Darug people
Current Valuation
Fair Value $60.2m Capitalisation Rate 4.88% Valuation Type Independent
Property Details
GLA 25,400 sqm Site Area 51,100 sqm WALE (by income) 4.1 years
Occupancy
Actual 100.0% Including Signed Leases 100.0% Including Heads of Agreement 100.0%
THE GPT GROUP | PROPERTY COMPENDIUM
LOGISTICS PORTFOLIO 92
50 Old Wallgrove Road, Eastern Creek, NSW
Developed by GPT, the asset comprises an office and warehouse facility leased to ACR Supply Partners. It is located 16 radial kilometres west of the Parramatta CBD and benefits from its close proximity to the M7 and M4 Motorways.
Key Metrics as at 31 December 2020
General Ownership Interest 100% GPT Developed (by GPT) January 2019 Traditional Custodians Traditional land of the Darug people
Current Valuation
Fair Value $74.0m Capitalisation Rate 4.75% Valuation Type Independent
Property Details
GLA 30,100 sqm Site Area 53,100 sqm WALE (by income) 6.1 years
Occupancy
Actual 100.0% Including Signed Leases 100.0% Including Heads of Agreement 100.0%
93 LOGISTICS PORTFOLIO
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 Disability Services Australia.
Key Metrics as at 31 December 2020
| General | |
|---|---|
| Ownership Interest | 100% GPT |
| Acquired (by GPT) | May 2019 |
| Property Details | |
| GLA | 7,100 sqm |
| Site Area | 11,600 sqm |
| WALE (by income) | 9.6 years |
Current Valuation
| Current Valuation | |
|---|---|
| Fair Value | $27.4m |
| Capitalisation Rate | 4.50% |
| Valuation Type | Independent |
| Occupancy | |
| Actual | 100.0% |
| Including Signed Leases | 100.0% |
| Including Heads of Agreement | 100.0% |
THE GPT GROUP | PROPERTY COMPENDIUM
LOGISTICS PORTFOLIO 94
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 2020
General
Ownership Interest 100% GPT Acquired (by GPT) May 2019 Traditional Custodians Traditional land of the Darug people
Current Valuation
Fair Value $42.7m Capitalisation Rate 5.25% Valuation Type Independent
Property Details
GLA 23,300 sqm Site Area 37,700 sqm WALE (by income) 6.5 years
Occupancy
Actual 100.0% Including Signed Leases 100.0% Including Heads of Agreement 100.0%
95 LOGISTICS PORTFOLIO
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 leased to Snack Brands Industries.
Key Metrics as at 31 December 2020
General
Ownership Interest 100% GPT Acquired (by GPT) May 2019 Traditional Custodians Traditional land of the Darug people
Current Valuation
Fair Value $43.5m Capitalisation Rate 5.25% Valuation Type Independent
Property Details
GLA 20,100 sqm Site Area 44,800 sqm WALE (by income) 5.0 years
Occupancy
Actual 100.0% Including Signed Leases 100.0% Including Heads of Agreement 100.0%
THE GPT GROUP | PROPERTY COMPENDIUM
96
LOGISTICS PORTFOLIO
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 leased to various national occupiers.
Key Metrics as at 31 December 2020
General
Ownership Interest 100% GPT Acquired (by GPT) August 1994 Traditional Custodians Traditional land of the Kulin nations
Property Details
GLA 90,100 sqm Site Area 201,800 sqm WALE (by income) 3.8 years
Current Valuation
Fair Value $115.0m Capitalisation Rate 5.50% Valuation Type Independent Occupancy Actual 100.0% Including Signed Leases 100.0% Including Heads of Agreement 100.0%
97 LOGISTICS PORTFOLIO
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 office component of the asset, 650 Lorimer Street, has achieved a 5.0 star NABERS Energy rating and a 4 star NABERS Water rating.
Key Metrics as at 31 December 2020
General
Ownership Interest 100% GPT Acquired (by GPT) March 2012 Traditional Custodians Traditional land of the Kulin nations
Current Valuation
Fair Value $93.5m Capitalisation Rate 5.75% Valuation Type Independent
Property Details
GLA 27,000 sqm Site Area 25,500 sqm WALE (by income) 2.6 years
Occupancy
Actual 91.0% Including Signed Leases 91.0% Including Heads of Agreement 91.0%
THE GPT GROUP | PROPERTY COMPENDIUM
LOGISTICS PORTFOLIO 98
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. The estate is leased to various national occupiers.
Key Metrics as at 31 December 2020
General
Ownership Interest GPT (50%) Co-Owner Austrak (50%) Acquired (by GPT) October 2003 Traditional Custodians Traditional land of the Wurundjeri people
Current Valuation
Fair Value $215.5m[1] Capitalisation Rate 4.75% Valuation Type Independent
Property Details
GLA 210,000 sqm Site Area 684,000 sqm[1] WALE (by income) 4.4 years
Occupancy
Actual 100.0% Including Signed Leases 100.0% Including Heads of Agreement 100.0%
- Excludes development land.
99
LOGISTICS PORTFOLIO
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 12 radial kilometres north west of the Melbourne CBD and 8 kilometres north west of the Port of Melbourne. The site is also located within close proximity to the Westgate Freeway and Western Ring Road. The estate is leased to IVE Group.
Key Metrics as at 31 December 2020
General
Ownership Interest 100% GPT Acquired (by GPT) January 2018 Traditional Custodians Traditional land of the Kulin nations
Property Details
GLA 52,800 sqm Site Area 88,700 sqm WALE (by income) 5.9 years
Current Valuation
Fair Value $88.0m Capitalisation Rate 5.00% Valuation Type Independent Occupancy Actual 100.0% Including Signed Leases 100.0% Including Heads of Agreement 100.0%
THE GPT GROUP | PROPERTY COMPENDIUM
LOGISTICS PORTFOLIO 100
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 Equipment.
Key Metrics as at 31 December 2020
General Ownership Interest 100% GPT Acquired (by GPT) December 2018 Traditional Custodians Traditional land of the Kulin nations
Current Valuation Fair Value $20.5m Capitalisation Rate 4.75% Valuation Type Independent
Property Details GLA 11,900 sqm Site Area 24,400 sqm WALE (by income) 8.2 years
Occupancy Actual 100.0% Including Signed Leases 100.0% Including Heads of Agreement 100.0%
101 LOGISTICS PORTFOLIO
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 2020
General
Ownership Interest 100% GPT Acquired (by GPT) November 2018 Traditional Custodians Traditional land of the Kulin nations
Current Valuation
Fair Value $14.7m Capitalisation Rate 5.00% Valuation Type Independent
Property Details
GLA 10,700 sqm Site Area 18,700 sqm WALE (by income) 3.0 years
Occupancy
Actual 100.0% Including Signed Leases 100.0% Including Heads of Agreement 100.0%
THE GPT GROUP | PROPERTY COMPENDIUM
LOGISTICS PORTFOLIO 102
21 Shiny Drive, Truganina, VIC
Completed in December 2019, the asset was the first facility developed 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 142,000 square metres of prime logistics accommodation.
21 Shiny Drive is a modern dual tenancy office and warehouse facility. The asset benefits from its close proximity to the Western Ring Road. It is leased to Petstock and Godfrey Hirst.
Key Metrics as at 31 December 2020
General Ownership Interest 100% GPT Developed (by GPT) December 2019 Traditional Custodians Traditional land of the Kulin nations
Property Details
GLA 26,500 sqm Site Area 42,300 sqm WALE (by income) 5.5 years
Current Valuation Fair Value $42.3m Capitalisation Rate 4.88% Valuation Type Independent Occupancy Actual 100.0% Including Signed Leases 100.0% Including Heads of Agreement 100.0%
103 LOGISTICS PORTFOLIO
21-23 Wirraway Drive, Port Melbourne, VIC
The asset comprises a modern office and warehouse facility in the established occupier precinct of Port Melbourne. It is located approximately 5 radial kilometres west of the Melbourne CBD and within close proximity of the Port of Melbourne. The asset is also located within close proximity to the West Gate Freeway and the Citylink. It is leased to Computershare.
Key Metrics as at 31 December 2020
General
Ownership Interest 100% GPT Acquired (by GPT) March 2020 Traditional Custodians Traditional land of the Kulin nations Property Details GLA 7,200 sqm Site Area 8,100 sqm WALE (by income) 5.0 years
Current Valuation
| Current Valuation | |
|---|---|
| Fair Value | $32.6m |
| Capitalisation Rate | 4.75% |
| Valuation Type | Independent |
| Occupancy | |
| Actual | 100.0% |
| Including Signed Leases | 100.0% |
| Including Heads of Agreement | 100.0% |
THE GPT GROUP | PROPERTY COMPENDIUM
LOGISTICS PORTFOLIO 104
1 Botero Place, Truganina, VIC
The asset comprises a modern office and temperature controlled warehouse facility in the established occupier precinct of Truganina. It is located approximately 18 radial kilometres west of the Melbourne CBD and 13 kilometres west of the Port of Melbourne. The asset is located within close proximity to the West Gate Freeway, Williamstown Road and Citylink.
The asset was purpose built for international logistics provider, DHL. The design incorporates a fusion HVAC system to allow for a temperature range of 17 to 22.5 degrees. Other improvements include a main office, two dock offices and 16,000 square metres of hardstand.
Key Metrics as at 31 December 2020
| General | |
|---|---|
| Ownership Interest | 100% GPT |
| Acquired (by GPT) | May 2020 |
| Traditional Custodians | Traditional land of the Kulin nations |
| Property Details | |
| GLA | 23,800 sqm |
| Site Area | 48,700 sqm |
| WALE (by income) | 9.4 years |
| Current Valuation | |
|---|---|
| Fair Value | $44.4m |
| Capitalisation Rate | 4.50% |
| Valuation Type | Independent |
| Occupancy | |
| Actual | 100.0% |
| Including Signed Leases | 100.0% |
| Including Heads of Agreement | 100.0% |
105 LOGISTICS PORTFOLIO
Foundation Estate, Truganina , VIC
The estate comprises three warehouse and office facilities leased to various national retail and transport operators. Truganina is a core occupier market, located approximately 18 radial kilometres west of the Melbourne CBD and 13 kilometres west of the Port of Melbourne.
The estate also provides approximately 1.8 hectares of land suitable for development.
Key Metrics as at 31 December 2020
General
Ownership Interest 100% GPT Acquired (by GPT) December 2020 Traditional Custodians Traditional land of the Kulin nations
Current Valuation
Fair Value $120.0m[1] Capitalisation Rate 4.50% Valuation Type Independent
Property Details
GLA 44,100 sqm Site Area 94,300 sqm[1] WALE (by income) 8.1 years
Occupancy
Actual 100.0% Including Signed Leases 100.0% Including Heads of Agreement 100.0%
- Excludes development land.
THE GPT GROUP | PROPERTY COMPENDIUM
LOGISTICS PORTFOLIO 106
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. The site benefits from its close proximity to the Logan and M1 Motorways.
Key Metrics as at 31 December 2020
General
Ownership Interest 100% GPT Developed (by GPT) April 2014 Traditional Custodians Traditional land of the Yuggera people
Current Valuation
Fair Value $137.5m Capitalisation Rate 4.75% Valuation Type Independent
Property Details
GLA 44,000 sqm Site Area 134,300 sqm WALE (by income) 8.2 years
Occupancy
Actual 100.0% Including Signed Leases 100.0% Including Heads of Agreement 100.0%
107 LOGISTICS PORTFOLIO
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 2020
General
Ownership Interest 100% GPT Developed (by GPT) June 2017 Traditional Custodians Traditional land of the Turrbul people
Current Valuation
Fair Value $19.9m Capitalisation Rate 4.75% Valuation Type Independent
Property Details
GLA 5,600 sqm Site Area 20,900 sqm WALE (by income) 11.4 years
Occupancy
Actual 100.0% Including Signed Leases 100.0% Including Heads of Agreement 100.0%
THE GPT GROUP | PROPERTY COMPENDIUM
LOGISTICS PORTFOLIO 108
2 Ironbark Close, Berrinba, QLD
Completed in March 2020, the asset was the first facility developed at GPT’s Wembley Business Park. The estate is strategically located within close proximity of the Logan Motorway, providing access to the Brisbane CBD (20 kilometres north west) and the Port of Brisbane (30 kilometres north west). The estate is expected to deliver up to 73,000 square metres of prime logistics accommodation.
The facility was purpose built for international logistics provider, DHL. The design allows for a high level of operational efficiency with two warehouses connected via a super-awning spanning 71 metres across the shared hardstand.
Key Metrics as at 31 December 2020
| General | |
|---|---|
| Ownership Interest | 100% GPT |
| Developed (by GPT) | March 2020 |
| Property Details | |
| GLA | 20,600 sqm |
| Site Area | 48,800 sqm |
| WALE (by income) | 9.2 years |
| Current Valuation | |
|---|---|
| Fair Value | $57.0m |
| Capitalisation Rate | 4.50% |
| Valuation Type | Independent |
| Occupancy | |
|---|---|
| Actual | 100.0% |
| Including Signed Leases | 100.0% |
| Including Heads of Agreement | 100.0% |
109 LOGISTICS PORTFOLIO
30 Ironbark Close, Berrinba, QLD
Completed in March 2020, the asset was the second facility developed at GPT’s Wembley Business Park. The estate is approximately 20 radial kilometres south east of the Brisbane CBD and 30 kilometres south east of Port of Brisbane. The estate is expected to deliver up to 73,000 square metres of prime logistics accommodation.
The high quality facility includes recessed docks, drive around access and a large 35 metre hardstand. It was developed on a speculative basis and was leased prior to practical completion by JB Hi-Fi and Windoware.
Key Metrics as at 31 December 2020
General
| General | |
|---|---|
| Ownership Interest | 100% GPT |
| Developed (by GPT) | March 2020 |
| Property Details | |
| GLA | 14,400 sqm |
| Site Area | 33,700 sqm |
| WALE (by income) | 4.5 years |
Current Valuation Fair Value $31.3m Capitalisation Rate 4.75% Valuation Type Independent Occupancy Actual 100.0% Including Signed Leases 100.0% Including Heads of Agreement 100.0%
THE GPT GROUP | PROPERTY COMPENDIUM
LOGISTICS PORTFOLIO 110