AI assistant
GPT GROUP — Annual Report 2021
Feb 13, 2022
65009_rns_2022-02-13_786040e3-dcb6-4f7d-8c77-7f06502682d5.pdf
Annual Report
Open in viewerOpens in your device viewer
==> picture [595 x 51] intentionally omitted <==
==> picture [595 x 52] intentionally omitted <==
14 February 2022
2021 Annual Result Property Compendium
The GPT Group (‘GPT’) provides its 2021 Annual Result Property Compendium which is authorised for release by The GPT Group’s Managing Director and Chief Executive Officer Bob Johnston.
-ENDS-
For more information, please contact:
INVESTORS AND MEDIA Penny Berger Head of Investor Relations and Corporate Affairs +61 402 079 955
www.gpt.com.au
Level 51, 25 Martin Place, Sydney NSW 2000
==> picture [554 x 691] intentionally omitted <==
Property Compendium Annual Result 2021
Contents
Office 3 Logistics 56 Retail 71
Queen & Collins, Melbourne
THE GPT GROUP | 2021 ANNUAL RESULT PROPERTY COMPENDIUM
==> picture [151 x 162] intentionally omitted <==
==> picture [145 x 28] intentionally omitted <==
----- Start of picture text -----
Office Portfolio
----- End of picture text -----
Annual Result 2021
Australia Square 264 George Street, Sydney
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 2021
General
Ownership Interest 50% GPT Co-Owner 50% Dexus Acquired (by GPT) September 1981 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 51,800 sqm Retail 1,700 sqm Car Parking Spaces 372 Typical Floor Plate 1,030 sqm Office Tenant Details Number of Office Tenants 93 WALE (by income) 3.4 years
Current Valuation
Fair Value $623.5m Capitalisation Rate 4.83% Valuation Type Internal
Office Occupancy
Actual 94.1% Including Signed Leases 97.4% Including Heads of Agreement 97.4%
Key Tenants
Area (sqm) HWL Ebsworth 7,230 Dexus 4,420
Lease Expiry Profile (by Income)
==> picture [482 x 113] intentionally omitted <==
----- Start of picture text -----
26%
24%
15%
12%
11%
6% 6%
1%
0% 0% 0%
2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032+
----- End of picture text -----
Sustainability
| Sustainability | |
|---|---|
| NABERS Rating Tower Plaza Energy rating (including GreenPower) 5.0 5.5 Energy rating (excluding GreenPower) 5.0 5.5 Water rating 4.0 4.5 Waste rating 3.5 3.5 |
Building Certifcations Tower Plaza |
| Climate Active Carbon Neutral – – Green Star Performance 5 Star 5 Star Green Star Design & As Built – – |
Note: Comprehensive sustainability data, including asset-level reporting, is available at gpt.com.au/sustainability . Data is current to 31 December 2021 assured according to Global Reporting Initiative (GRI) Sustainability Reporting Standards and the Greenhouse Gas Protocol. Ratings are as at 31 December 2021.
THE GPT GROUP | 2021 ANNUAL RESULT PROPERTY COMPENDIUM
5
OFFICE PORTFOLIO
2 Park Street Sydney
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, which is connected to Town Hall Station, offering easy access to public transport across all areas of the Sydney CBD.
Key Metrics as at 31 December 2021
| General | |
|---|---|
| Ownership Interest | 50% GPT |
| Co-Owner | 50% Charter Hall Ofce 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 |
| Property Details | |
|---|---|
| Ofce | 73,400 sqm |
| Retail | 500 sqm |
| Car Parking Spaces | 270 |
| Typical Floor Plate | 1,770 sqm |
| Ofce Tenant Details | |
| Number of Ofce Tenants | 23 |
| WALE (by income) | 4.1 years |
Current Valuation
| Current Valuation | |
|---|---|
| Fair Value | $850.0m |
| Capitalisation Rate | 4.50% |
| Valuation Type | Independent |
| Ofce Occupancy | |
| Actual | 98.0% |
| Including Signed Leases | 98.0% |
| Including Heads of Agreement | 98.0% |
Key Tenants
| Key Tenants | |
|---|---|
| Amazon Web Services Citibank |
Area (sqm) |
| 21,920 13,280 |
Lease Expiry Profile (by Income)
==> picture [482 x 83] intentionally omitted <==
----- Start of picture text -----
39%
25%
17%
11%
7%
0% 1% 0% 0% 0% 0%
2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032+
----- End of picture text -----
Sustainability
NABERS Rating Energy rating (including GreenPower) 5.5 Energy rating (excluding GreenPower) 5.5 Water rating 4.5 Waste rating 3.5
Building Certifications
Climate Active Carbon Neutral – Green Star Performance 6 Star Green Star Design & As Built –
Note: Comprehensive sustainability data, including asset-level reporting, is available at gpt.com.au/sustainability . Data is current to 31 December 2021 assured according to Global Reporting Initiative (GRI) Sustainability Reporting Standards and the Greenhouse Gas Protocol. Ratings are as at 31 December 2021.
THE GPT GROUP | 2021 ANNUAL RESULT PROPERTY COMPENDIUM
7
OFFICE PORTFOLIO
Darling Park 1 & 2 and Cockle Bay Wharf 201 Sussex Street, Sydney
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. Office floor plates are large and efficient, with expansive water views.
Key Metrics as at 31 December 2021
==> picture [540 x 321] intentionally omitted <==
----- Start of picture text -----
General Current Valuation
Ownership Interest 25% GPT Fair Value $575.8m (25% GPT)
Co-Owners 50% GWOF, 25% AWOF Capitalisation Rate DP1: 4.63%, DP2: 4.50%
Acquired (by GPT) August 2019 Valuation Type Independent
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 Occupancy
Office 101,800 sqm Actual DP1: 100.0%, DP2: 96.4%
Retail 9,800 sqm Including Signed Leases DP1: 100.0%, DP2: 97.6%
Car Parking Spaces 642 Including Heads of Agreement DP1: 100.0%, DP2: 97.6%
Typical Floor Plate 1,900 sqm
Office Tenant Details Key Tenants
Number of Office Tenants 11 Area (sqm)
WALE (by Income) DP1: 2.8 years, DP2: 6.9 years CBA 52,170
IAG 30,670
Lease Expiry Profile (by Income)
59%
9%
33% 35%
16%
32% 10%
2% 0% 4% 0% 0%
2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032+
DP1 DP2
----- End of picture text -----
Sustainability
Darling Park 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 2021, investment in both carbon offsets and carbon removal projects delivered a net positive impact on the environment, removing an additional 16 kilograms of CO2-e per square metre (Scope 1 & 2) beyond those required for carbon neutral certification.
| NABERS Rating Tower 1 Tower 2 Energy rating (including GreenPower) 6.0 6.0 Energy rating (excluding GreenPower) 5.5 5.5 Water rating 4.5 4.5 Waste rating 2.5 3.5 |
Building Certifcations Tower 1 Tower 2 |
|---|---|
| Climate Active Carbon Neutral certifed certifed Green Star Performance 6 Star 6 Star Green Star Design & As Built – – |
Note: Comprehensive sustainability data, including asset-level reporting, is available at gpt.com.au/sustainability . Data is current to 31 December 2021 assured according to Global Reporting Initiative (GRI) Sustainability Reporting Standards and the Greenhouse Gas Protocol. Ratings are as at 31 December 2021.
THE GPT GROUP | 2021 ANNUAL RESULT PROPERTY COMPENDIUM
9
OFFICE PORTFOLIO
Eclipse Tower 60 Station Street, Parramatta
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, Westfield Parramatta, Parramatta train station and bus interchange.
Key Metrics as at 31 December 2021
| General Ownership Interest 100% GPT Acquired (by GPT) September 2018 Asset Quality A-Grade Construction/Refurbishment Completed 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) 2.1 years |
Current Valuation | |
|---|---|---|
| Fair Value Capitalisation Rate Valuation Type Ofce Occupancy |
$277.4m 5.13% Internal |
|
| Actual Including Signed Leases Including Heads of Agreement Key Tenants |
94.7% 100.0% 100.0% |
|
| Deloite Government Property NSW |
Area (sqm) | |
| 5,290 3,970 |
Lease Expiry Profile (by Income)
| 63% 16% |
0% | 0% 5% |
0% 11% |
0% 5% |
0% | 0% |
|---|---|---|---|---|---|---|
| 2022 2023 |
2024 | 2025 2026 |
2027 2028 |
2029 2030 |
2031 | 2032+ |
Sustainability
60 Station Street is certified carbon neutral using the NABERS verification pathway of Climate Active for Buildings, in alignment with the international Greenhouse Gas Protocol.
In 2021, investment in both carbon offsets and carbon removal projects delivered a net positive impact on the environment, removing an additional 2 kilograms of CO2-e per square metre (Scope 1 & 2) beyond those required for carbon neutral certification.
NABERS Rating Energy rating (including GreenPower) 6.0 Energy rating (excluding GreenPower) 5.5 Water rating 5.0 Waste rating –
Building Certifications
Climate Active Carbon Neutral certified Green Star Performance – Green Star Design & As Built –
Note: Comprehensive sustainability data, including asset-level reporting, is available at gpt.com.au/sustainability . Data is current to 31 December 2021 assured according to Global Reporting Initiative (GRI) Sustainability Reporting Standards and the Greenhouse Gas Protocol. Ratings are as at 31 December 2021.
THE GPT GROUP | 2021 ANNUAL RESULT PROPERTY COMPENDIUM
11
OFFICE PORTFOLIO
32 Smith Parramatta
32 Smith, Parramatta
32 Smith, Parramatta reached practical completion in January 2021. The 6 Star Green Star Design and As Built office tower features touch free access and lift controls, and an Integrated Communications Network backbone, adaptable for latest technologies and thermal heat mapping sensors.
Key Metrics as at 31 December 2021
General Ownership Interest 100% GPT Acquired (by GPT) March 2017 Asset Quality A-Grade Construction/Refurbishment Completed 2021 Traditional Custodians Traditional land of the Burramattagal clan of the Darug people
Property Details Office 26,800 sqm Retail 300 sqm Car Parking Spaces 110 Typical Floor Plate 1,350 sqm
Current Valuation
Fair Value $335.7m Capitalisation Rate 5.00% Valuation Type Internal Office Occupancy Actual 71.9% Including Signed Leases 80.8% Including Heads of Agreement 80.8%
Office Tenant Details Number of Office Tenants 5 WALE (by income) 8.6 years
Key Tenants Area (sqm) QBE 13,620 Space&Co 2,050
Lease Expiry Profile (by Income)
==> picture [484 x 95] intentionally omitted <==
----- Start of picture text -----
73%
14%
0% 0% 0% 0% 2% 0% 6% 5% 0%
2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032+
----- End of picture text -----
Sustainability
The property has achieved a 6 Star Green Star Design & As Built v1.1 rating. No sustainability data reported as the asset was completed during the year.
THE GPT GROUP | 2021 ANNUAL RESULT PROPERTY COMPENDIUM
13
OFFICE PORTFOLIO
4 Murray Rose Avenue Sydney Olympic Park
4 Murray Rose Avenue, Sydney Olympic Park
4 Murray Rose Avenue is an A-Grade building comprising six levels of office accommodation. Located in Sydney Olympic Park, 4 Murray Rose Avenue was developed by GPT and completed in 2018.
Key Metrics as at 31 December 2021
==> picture [540 x 322] intentionally omitted <==
----- Start of picture text -----
General Current Valuation
Ownership Interest 100% GPT Fair Value $152.0m
Acquired (by GPT) May 2002 Capitalisation Rate 4.88%
Asset Quality A-Grade Valuation Type Independent
Construction/Refurbishment Completed 2018
Traditional Custodians Traditional land of the Wanngal people
Property Details Office Occupancy
Office 15,600 sqm Actual 98.8%
Retail 100 sqm Including Signed Leases 98.8%
Car Parking Spaces 232 Including Heads of Agreement 100.0%
Typical Floor Plate 3,010 sqm
Office Tenant Details Key Tenants
Number of Office Tenants 6 Area (sqm)
WALE (by income) 7.6 years NSW Rural Fire Service 9,290
Toyota 2,530
Lease Expiry Profile (by Income)
66%
22%
10%
0% 2% 0% 0% 0% 0% 0% 0%
2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032+
----- End of picture text -----
Sustainability
4 Murray Rose Avenue is certified carbon neutral using the NABERS verification pathway of Climate Active for Buildings, in alignment with the international Greenhouse Gas Protocol.
In 2021, investment in both carbon offsets and carbon removal projects delivered a net positive impact on the environment, removing an additional 2 kilograms of CO2-e per square metre (Scope 1 & 2) beyond those required for carbon neutral certification.
NABERS Rating Building Certifications Energy rating (including GreenPower) 6.0 Climate Active Carbon Neutral certified Energy rating (excluding GreenPower) 5.5 Green Star Performance – Water rating 5.5 Green Star Design & As Built 5 Star (Design) Waste rating 1.5
Note: Comprehensive sustainability data, including asset-level reporting, is available at gpt.com.au/sustainability . Data is current to 31 December 2021 assured according to Global Reporting Initiative (GRI) Sustainability Reporting Standards and the Greenhouse Gas Protocol. Ratings are as at 31 December 2021.
THE GPT GROUP | 2021 ANNUAL RESULT PROPERTY COMPENDIUM
15
OFFICE PORTFOLIO
62 Northbourne Avenue
Canberra
62 Northbourne Avenue, Canberra
62 Northbourne Avenue comprises six levels of office accommodation with a central atrium providing natural sunlight. The property is located on the eastern side of Northbourne Avenue, a major thoroughfare in Canberra’s CBD and has additional frontage to Mort Street at the rear.
Key Metrics as at 31 December 2021
General
Ownership Interest 100% GPT Acquired (by GPT) November 2021 Asset Quality A-Grade Construction/Refurbishment Completed 1986/Refurbished 2008 Traditional Custodians Traditional land of the Ngunnawal people
Current Valuation
Fair Value $79.5m Capitalisation Rate 5.25% Valuation Type Internal
Property Details
Office 10,200 sqm Retail N/A Car Parking Spaces 109 Typical Floor Plate 1,540 sqm Office Tenant Details Number of Office Tenants 1 WALE (by income) 4.5 years
Office Occupancy
Actual 100.0% Including Signed Leases 100.0% Including Heads of Agreement 100.0%
Key Tenants
| Key Tenants | |
|---|---|
| Commonwealth of Australia | Area (sqm) |
| 10,200 |
Lease Expiry Profile (by Income)
| 0% | 0% | 0% | 0% 100% |
0% | 0% | 0% | 0% | 0% 0% |
|
|---|---|---|---|---|---|---|---|---|---|
| 2022 | 2023 | 2024 | 2025 2026 |
2027 | 2028 | 2029 | 2030 | 2031 2032+ |
Sustainability
NABERS Rating
Building Certifications
| Sustainability NABERS Rating |
Building Certifcations | ||
|---|---|---|---|
| Energy rating (including GreenPower) | 4.5 | Climate Active Carbon Neutral | – |
| Energy rating (excluding GreenPower) | 4.5 | Green Star Performance | – |
| Water rating | Green Star Design & As Built | – | |
| Waste rating | – |
Note: Comprehensive sustainability data, including asset-level reporting, is available at gpt.com.au/sustainability . Data is current to 31 December 2021 assured according to Global Reporting Initiative (GRI) Sustainability Reporting Standards and the Greenhouse Gas Protocol. Ratings are as at 31 December 2021.
THE GPT GROUP | 2021 ANNUAL RESULT PROPERTY COMPENDIUM
17
OFFICE PORTFOLIO
Melbourne Central Tower
360 Elizabeth Street, Melbourne
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 2021
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 Wurundjeri People
Current Valuation
Fair Value $785.5m Capitalisation Rate 4.88% Valuation Type Independent
Property Details Office 65,800 sqm Retail 40 sqm Car Parking Spaces 0 Typical Floor Plate 1,480 sqm Office Tenant Details Number of Office Tenants 48 WALE (by income) 4.9 years
Office Occupancy
Actual 98.3% Including Signed Leases 98.3% Including Heads of Agreement 98.8% Key Tenants Area (sqm) Members Equity Bank 13,680 Allianz 7,800
Lease Expiry Profile (by Income)
==> picture [482 x 102] intentionally omitted <==
----- Start of picture text -----
24%
21%
11% 10%
9%
7% 7%
5%
4%
2%
0%
2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032+
----- End of picture text -----
Sustainability
NABERS Rating
Building Certifications
| Sustainability NABERS Rating |
Building Certifcations | ||
|---|---|---|---|
| Energy rating (including GreenPower) | 5.0 | Climate Active Carbon Neutral | – |
| Energy rating (excluding GreenPower) | 5.0 | Green Star Performance | – |
| Water rating | 5.5 | Green Star Design & As Built | – |
| Waste rating | NR |
Note: Comprehensive sustainability data, including asset-level reporting, is available at gpt.com.au/sustainability . Data is current to 31 December 2021 assured according to Global Reporting Initiative (GRI) Sustainability Reporting Standards and the Greenhouse Gas Protocol. Ratings are as at 31 December 2021.
THE GPT GROUP | 2021 ANNUAL RESULT PROPERTY COMPENDIUM
19
OFFICE PORTFOLIO
181 William & 550 Bourke Streets
Melbourne
181 William & 550 Bourke Streets, Melbourne
181 William Street & 550 Bourke Street 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 2021
General Current Valuation Ownership Interest 50% GPT Fair Value $449.0m (50% GPT) Co-Owner 50% GWOF Capitalisation Rate 4.88% Acquired (by GPT) October 2014 Valuation Type Independent Asset Quality A-Grade Construction/Refurbishment Completed 2009/Refurbished 2020 (550 Bourke Street) and underway (181 William Street) Traditional Custodians Traditional land of the Wurundjeri People Property Details Office Occupancy Office 76,100 sqm Actual 70.9% Retail 5,200 sqm Including Signed Leases 72.9% Car Parking Spaces 413 Including Heads of Agreement 72.9% Typical Floor Plate 181 William: 1,920 sqm, 550 Bourke: 1,510 sqm Office Tenant Details Key Tenants Number of Office Tenants 13 Area (sqm) WALE (by income) 5.8 years IAG 17,120 State of Victoria 12,280
Lease Expiry Profile (by Income)
==> picture [482 x 88] intentionally omitted <==
----- Start of picture text -----
26%
23%
13%
11%
9%
6%
4% 2% 3% 4%
0%
2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032+
----- End of picture text -----
Sustainability
181 William & 550 Bourke Streets are certified carbon neutral using the NABERS verification pathway of Climate Active for Buildings, in alignment with the international Greenhouse Gas Protocol.
In 2021, investment in both carbon offsets and carbon removal projects delivered a net positive impact on the environment, removing an additional 5 kilograms of CO2-e per square metre (Scope 1 & 2) beyond those required for carbon neutral certification.
| NABERS Rating Energy rating (including GreenPower) 6.0 Energy rating (excluding GreenPower) 5.5 Water rating 5.5 Waste rating 3.0 |
Building Certifcations 181 William St 550 Bourke St |
|---|---|
| Climate Active Carbon Neutral certifed certifed Green Star Performance – 4 star Green Star Design & As Built 5 Star – |
NABERS Energy and Water Ratings are for 181 William Street. 550 Bourke Street was not rateable due to a major refurbishment.
Note: Comprehensive sustainability data, including asset-level reporting, is available at gpt.com.au/sustainability . Data is current to 31 December 2021 assured according to Global Reporting Initiative (GRI) Sustainability Reporting Standards and the Greenhouse Gas Protocol. Ratings are as at 31 December 2021.
THE GPT GROUP | 2021 ANNUAL RESULT PROPERTY COMPENDIUM
21
OFFICE PORTFOLIO
One One One Eagle Street Brisbane
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 2021
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 Office 63,700 sqm Retail 400 sqm Car Parking Spaces 114 Typical Floor Plate 1,450 sqm Office Tenant Details Number of Office Tenants 27 WALE (by income) 4.2 years
Current Valuation Fair Value $316.7m (33.33% GPT) Capitalisation Rate 4.88% Valuation Type Independent
==> picture [265 x 116] intentionally omitted <==
----- Start of picture text -----
Office Occupancy
Actual 97.4%
Including Signed Leases 99.1%
Including Heads of Agreement 99.1%
Key Tenants
Area (sqm)
EY 7,500
ANZ 7,130
----- End of picture text -----
Lease Expiry Profile (by Income)
==> picture [482 x 86] intentionally omitted <==
----- Start of picture text -----
32%
21%
12%
10% 9% 10%
6%
0% 0% 0% 0%
2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032+
----- End of picture text -----
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 2021, investment in both carbon offsets and carbon removal projects delivered a net positive impact on the environment, removing an additional 19 kilograms of CO2-e per square metre (Scope 1 & 2) beyond those required for carbon neutral certification.
| NABERS Rating Energy rating (including GreenPower) 6.0 Energy rating (excluding GreenPower) 6.0 Water rating 4.5 Waste rating 3.5 |
Building Certifcations |
|---|---|
| Climate Active Carbon Neutral certifed Green Star Performance – Green Star Design & As Built 6 Star |
Note: Comprehensive sustainability data, including asset-level reporting, is available at gpt.com.au/sustainability . Data is current to 31 December 2021 assured according to Global Reporting Initiative (GRI) Sustainability Reporting Standards and the Greenhouse Gas Protocol. Ratings are as at 31 December 2021.
THE GPT GROUP | 2021 ANNUAL RESULT PROPERTY COMPENDIUM
23
OFFICE PORTFOLIO
Liberty Place 161 Castlereagh Street, Sydney
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 2021
General Current Valuation Ownership Interest 50% GWOF Fair Value Co-Owner 50% ISPT Capitalisation Rate Acquired (by GWOF) April 2010 Valuation Type Asset Quality Premium Grade Construction/Refurbishment Completed 2013 Traditional Custodians Traditional land of the Gadigal people of the Eora nation
Fair Value $789.8m Capitalisation Rate 4.38% Valuation Type Independent
Property Details Office Occupancy Office 56,400 sqm Actual 86.8% Retail 2,900 sqm Including Signed Leases 92.0% Car Parking Spaces 144 Including Heads of Agreement 92.0% Typical Floor Plate 1,630 sqm Office Tenant Details Key Tenants Number of Office Tenants 12 Area (sqm) WALE (by income) 7.5 years ANZ 22,600 Herbert Smith Freehills 15,560
Lease Expiry Profile (by Income)
==> picture [482 x 90] intentionally omitted <==
----- Start of picture text -----
40%
28%
12%
9%
6%
4%
0% 0% 0% 0% 0%
2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032+
----- End of picture text -----
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 2021, investment in both carbon offsets and carbon removal projects delivered a net positive impact on the environment, removing an additional 4 kilograms of CO2-e per square metre (Scope 1 & 2) beyond those required for carbon neutral certification.
NABERS Rating Building Certifications Energy rating (including GreenPower) 6.0 Climate Active Carbon Neutral certified Energy rating (excluding GreenPower) 5.0 Green Star Performance 6 Star Water rating 5.0 Green Star Design & As Built 6 Star Waste rating 3.5
Note: Comprehensive sustainability data, including asset-level reporting, is available at gpt.com.au/sustainability . Data is current to 31 December 2021 assured according to Global Reporting Initiative (GRI) Sustainability Reporting Standards and the Greenhouse Gas Protocol. Ratings are as at 31 December 2021.
THE GPT GROUP | 2021 ANNUAL RESULT PROPERTY COMPENDIUM
25
OFFICE PORTFOLIO
Darling Park 3 201 Sussex Street, Sydney
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 2021
==> picture [540 x 197] intentionally omitted <==
----- Start of picture text -----
General Current Valuation
Ownership Interest 100% GWOF Fair Value $610.0m
Acquired (by GWOF) July 2006 Capitalisation Rate 4.63%
Asset Quality Premium Grade Valuation Type Independent
Construction/Refurbishment Completed 2005/Refurbished 2017
Traditional Custodians Traditional land of the Gadigal people of the
Eora nation
Property Details Office Occupancy
Office 29,800 sqm Actual 100.0%
Retail 30 sqm Including Signed Leases 100.0%
Car Parking Spaces 137 Including Heads of Agreement 100.0%
Typical Floor Plate 1,500 sqm
Office Tenant Details Key Tenants
Number of Office Tenants 6 Area (sqm)
WALE (by income) 4.5 years Rabobank 7,560
NTT 7,470
----- End of picture text -----
Lease Expiry Profile (by Income)
==> picture [482 x 80] intentionally omitted <==
----- Start of picture text -----
29%
23% 24%
12%
5% 5%
2%
0% 0% 0% 0%
2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032+
----- End of picture text -----
Sustainability
Darling Park 3 is certified carbon neutral using the NABERS verification pathway of Climate Active for Buildings, in alignment with the international Greenhouse Gas Protocol.
In 2021, investment in both carbon offsets and carbon removal projects delivered a net positive impact on the environment, removing an additional 3 kilograms of CO2-e per square metre (Scope 1 & 2) beyond those required for carbon neutral certification.
NABERS Rating Building Certifications Energy rating (including GreenPower) 6.0 Climate Active Carbon Neutral certified Energy rating (excluding GreenPower) 5.5 Green Star Performance 6 Star Water rating 5.0 Green Star Design & As Built – Waste rating 2.5
Note: Comprehensive sustainability data, including asset-level reporting, is available at gpt.com.au/sustainability . Data is current to 31 December 2021 assured according to Global Reporting Initiative (GRI) Sustainability Reporting Standards and the Greenhouse Gas Protocol. Ratings are as at 31 December 2021.
THE GPT GROUP | 2021 ANNUAL RESULT PROPERTY COMPENDIUM
27
OFFICE PORTFOLIO
580 George Street Sydney
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 and is linked by a pedestrian underpass to Town Hall Station.
The building features a number of healthy building initiatives including touch free lift and access enablement as well as improved air quality through air filtration upgrades and ultraviolet air purification.
Key Metrics as at 31 December 2021
| 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 4,300 sqm Car Parking Spaces 141 Typical Floor Plate 1,300 sqm Ofce Tenant Details Number of Ofce Tenants 26 WALE (by income) 4.0 years |
Current Valuation | |
|---|---|---|
| Fair Value Capitalisation Rate Valuation Type Ofce Occupancy |
$672.0m 4.88% Independent |
|
| Actual Including Signed Leases Including Heads of Agreement Key Tenants |
96.7% 96.7% 96.7% |
|
| Uber ELMO Sofware |
Area (sqm) | |
| 3,890 3,830 |
Lease Expiry Profile (by Income)
==> picture [482 x 105] intentionally omitted <==
----- Start of picture text -----
24%
21%
17% 17%
11%
8%
2%
0% 0% 0% 0%
2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032+
----- End of picture text -----
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 2021, investment in both carbon offsets and carbon removal projects delivered a net positive impact on the environment, removing an additional 4 kilograms of CO2-e per square metre (Scope 1 & 2) beyond those required for carbon neutral certification.
NABERS Rating Energy rating (including GreenPower) 6.0 Energy rating (excluding GreenPower) 5.0 Water rating 5.0 Waste rating –
Building Certifications Climate Active Carbon Neutral certified Green Star Performance – Green Star Design & As Built –
Note: Comprehensive sustainability data, including asset-level reporting, is available at gpt.com.au/sustainability . Data is current to 31 December 2021 assured according to Global Reporting Initiative (GRI) Sustainability Reporting Standards and the Greenhouse Gas Protocol. Ratings are as at 31 December 2021.
THE GPT GROUP | 2021 ANNUAL RESULT PROPERTY COMPENDIUM
29
OFFICE PORTFOLIO
workplace[6]
48 Pirrama Road, Sydney
workplace[6] , 48 Pirrama Road, Sydney
workplace[6] is a waterfront A-Grade six level office building achieving world leading standards in environmental design and resource efficiency. 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 2021
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 Office 16,300 sqm Retail 1,900 sqm Car Parking Spaces 135 Typical Floor Plate 3,620 sqm Office Tenant Details Number of Office Tenants 1 WALE (by income) 6.9 years
Current Valuation Fair Value $345.0m 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) Google 16,300
Lease Expiry Profile (by Income)
==> picture [482 x 72] intentionally omitted <==
----- Start of picture text -----
100%
0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032+
----- End of picture text -----
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 2021, investment in both carbon offsets and carbon removal projects delivered a net positive impact on the environment, removing an additional 1 kilograms of CO2-e per square metre (Scope 1 & 2) beyond those required for carbon neutral certification.
NABERS Rating Energy rating (including GreenPower) 6.0 Energy rating (excluding GreenPower) 5.5 Water rating 5.0 Waste rating –
Building Certifications Climate Active Carbon Neutral certified Green Star Performance – Green Star Design & As Built 6 Star
Note: Comprehensive sustainability data, including asset-level reporting, is available at gpt.com.au/sustainability . Data is current to 31 December 2021 assured according to Global Reporting Initiative (GRI) Sustainability Reporting Standards and the Greenhouse Gas Protocol. Ratings are as at 31 December 2021.
THE GPT GROUP | 2021 ANNUAL RESULT PROPERTY COMPENDIUM
31
OFFICE PORTFOLIO
81-83 George Street Parramatta
81-83 George Street, Parramatta
Located in the Parramatta CBD, the site consists of multiple adjoining lots totalling approximately 3,060 sqm, with the acquisition to settle in multiple transactions in 2021 and 2022. Incorporating 81 George Street, 83 George Street and 1 Barrack Lane, the existing improvements comprise a number of low rise commercial buildings.
The site represents a future development opportunity for the fund of approximately 47,000 sqm, and when combined with 87-91 George Street, the collective scheme provides a future pipeline of approximately 125,000 sqm across a multi stage development.
Key Metrics as at 31 December 2021
General
Ownership Interest Acquired (by GWOF) Asset Quality
Ownership Interest 100% GWOF December 2021, additional settlements to Acquired (by GWOF) occur in 2022 Asset Quality Strata titled, light commercial (future office development site) Construction/Refurbishment Completed 1982, 1989, 1991 Traditional Custodians Traditional land of the Burramattagal clan of the Darug people
Current Valuation
Fair Value[1] $90.3m Valuation Type Independent
Office Occupancy
81-83 George Street is held for future development so is not included in portfolio occupancy metrics.
Sustainability
No sustainability data reported due to the asset being held for redevelopment.
- The valuation of 81-83 George Street, Parramatta reflects 100% of the site value including the value of strata lots that have yet to settle. As at 31 December 2021, the fair value of 81-83 George Street, Parramatta is $63.9m. Note: Artist’s impression of proposed future development site used in both images.
THE GPT GROUP | 2021 ANNUAL RESULT PROPERTY COMPENDIUM
33
OFFICE PORTFOLIO
87–91 George Street Parramatta
87-91 George Street, Parramatta
Located within the Parramatta CBD the site consists of multiple adjoining lots. 87-89 George Street existing improvements comprising a single storey warehouse-showroom with a mechanic workshop and onsite parking to the rear. 91 George Street comprises a 7-storey strata office building with basement and rear car parking The site also incorporates 85 George Street, a historic sandstone cottage and heritage stables constructed circa 1841. The 2/85 George Street site was acquired in 2021.
The site represents a future development opportunity for the fund of approximately 70,000 sqm, and when combined with 81-83 George Street, the collective scheme provides a future pipeline of approximately 125,000 sqm across a multi stage development.
Key Metrics as at 31 December 2021
General
Ownership Interest 100% GWOF Acquired (by GWOF) June 2020, September 2020, December 2021 Asset Quality Strata titled, light commercial (future office development site) Construction/Refurbishment 1841 (restored 1991), 1985 Traditional Custodians Traditional land of the Burramattagal clan of the Darug people
Current Valuation
Fair Value $111.3m Valuation Type Independent
Office Occupancy
87-91 George Street is held for future development so is not included in portfolio occupancy metrics.
Sustainability
No sustainability data reported due to the asset being held for redevelopment.
Note: Artist’s impression of proposed future development site used in both images.
THE GPT GROUP | 2021 ANNUAL RESULT PROPERTY COMPENDIUM
OFFICE PORTFOLIO 35
2 Southbank Boulevard Melbourne
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 of office accommodation providing CBD and water views.
Key Metrics as at 31 December 2021
| General Ownership Interest 100% GWOF Acquired (by GWOF) June 2014 (50%) and March 2019 (50%) Asset Quality Premium Grade Construction/Refurbishment Completed 2008/Refurbished 2018 Traditional Custodians Traditional land of the Kulin nations Property Details Ofce 53,100 sqm Retail 1,500 sqm Car Parking Spaces 537 Typical Floor Plate 1,860 sqm Ofce Tenant Details Number of Ofce Tenants 26 WALE (by income) 5.0 years |
Current Valuation | |
|---|---|---|
| Fair Value Capitalisation Rate Valuation Type Ofce Occupancy |
$728.5m 4.75% Independent |
|
| Actual Including Signed Leases Including Heads of Agreement Key Tenants |
89.4% 93.5% 95.4% |
|
| Ausnet Services CUB |
Area (sqm) | |
| 7,690 6,390 |
Lease Expiry Profile (by Income)
==> picture [509 x 72] intentionally omitted <==
----- Start of picture text -----
21%
16% 16% 16%
11%
9%
4% 4%
2% 2%
0%
2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032+
----- End of picture text -----
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 2021, investment in both carbon offsets and carbon removal projects delivered a net positive impact on the environment, removing an additional 5 kilograms of CO2-e per square metre (Scope 1 & 2) beyond those required for carbon neutral certification.
| NABERS Rating Energy rating (including GreenPower) 6.0 Energy rating (excluding GreenPower) 5.0 Water rating 5.0 Waste rating 3.0 |
Building Certifcations |
|---|---|
| Climate Active Carbon Neutral certifed Green Star Performance 6 Star Green Star Design & As Built – |
Note: Comprehensive sustainability data, including asset-level reporting, is available at gpt.com.au/sustainability . Data is current to 31 December 2021 assured according to Global Reporting Initiative (GRI) Sustainability Reporting Standards and the Greenhouse Gas Protocol. Ratings are as at 31 December 2021.
THE GPT GROUP | 2021 ANNUAL RESULT PROPERTY COMPENDIUM
37
OFFICE PORTFOLIO
8 Exhibition Street Melbourne
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 2021
General Current Valuation Ownership Interest 50% GWOF Fair Value $319.5m Co-Owner 50% KREIT Capitalisation Rate 4.75% Acquired (by GWOF) April 2013 Valuation Type Independent Asset Quality Premium Grade Construction/Refurbishment Completed 2005/Refurbished 2020 Traditional Custodians Traditional land of the Wurundjeri People Property Details Office Occupancy Office 44,500 sqm Actual 92.4% Retail 100 sqm Including Signed Leases 93.6% Car Parking Spaces 0 Including Heads of Agreement 94.5% Typical Floor Plate 1,620 sqm Office Tenant Details Key Tenants Number of Office Tenants 19 Area (sqm) WALE (by income) 3.8 years EY 14,940 Amazon Web Services 4,860
Lease Expiry Profile (by Income)
==> picture [482 x 81] intentionally omitted <==
----- Start of picture text -----
38%
16%
13% 14% 12%
6%
0% 2% 0% 0% 0%
2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032+
----- End of picture text -----
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 2021, investment in both carbon offsets and carbon removal projects delivered a net positive impact on the environment, removing an additional 5 kilograms of CO2-e per square metre (Scope 1 & 2) beyond those required for carbon neutral certification.
NABERS Rating Building Certifications Energy rating (including GreenPower) 6.0 Climate Active Carbon Neutral certified Energy rating (excluding GreenPower) 5.5 Green Star Performance – Water rating NR[1] Green Star Design & As Built – Waste rating 2.5
Note: Comprehensive sustainability data, including asset-level reporting, is available at gpt.com.au/sustainability . Data is current to 31 December 2021 assured according to Global Reporting Initiative (GRI) Sustainability Reporting Standards and the Greenhouse Gas Protocol. Ratings are as at 31 December 2021.
- 8 Exhibition Street not rated due to faulty water utility meter.
THE GPT GROUP | 2021 ANNUAL RESULT PROPERTY COMPENDIUM
OFFICE PORTFOLIO 39
51 Flinders Lane Melbourne
51 Flinders Lane, Melbourne
51 Flinders Lane is a new office development with completion expected in early 2025. The project will incorporate 28,300sqm of prime office space and a 1,200sqm GLA retail laneway precinct linking Flinders Street to Flinders Lane in Melbourne’s iconic east end.
51 Flinders Lane will be constructed to market leading design credentials including targeting a 6 Star Green Star Design & As Built rating from the Green Building Council of Australia, a WELL Platinum Rating for tenant health and wellbeing, a 6 Star NABERS Energy Rating (with GreenPower), and Climate Active for Buildings carbon neutral certification when completed.
Key Metrics as at 31 December 2021
General
Ownership Interest 100% GWOF Acquired (by GWOF) August 2018 Asset Quality Development underway Construction/Refurbishment Completed 1998 Traditional Custodians Traditional land of the Wurundjeri People
Current Valuation
Fair Value $92.7m Capitalisation Rate N/A Valuation Type Independent
Office Occupancy
51 Flinders Lane is an underway development so is not included in portfolio occupancy metrics.
Sustainability
No sustainability data reported due to the asset being held for redevelopment.
Note: Artist’s impression of proposed future development site used in both images.
THE GPT GROUP | 2021 ANNUAL RESULT PROPERTY COMPENDIUM
OFFICE PORTFOLIO 41
Queen & Collins Melbourne
Queen & Collins, Melbourne
Queen & Collins comprises a 34 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 redevelopment offers high quality office space in a building of unique character and delivers distinctive tenant experiences and excellent sustainability outcomes.
Key Metrics as at 31 December 2021
General Ownership Interest 100% GWOF Acquired (by GWOF) December 2016 Asset Quality A-Grade Construction/Refurbishment Completed 1993 (Office Tower) /Refurbished 2021 Traditional Custodians Traditional land of the Wurundjeri People
Current Valuation Fair Value $506.0m Capitalisation Rate 4.63% Valuation Type Independent
Property Details Office 33,600 sqm Retail 1,300 sqm Car Parking Spaces 56 Typical Floor Plate Podium: 1,320 sqm, Tower: 910 sqm Office Tenant Details Number of Office Tenants 5 WALE (by income) 6.0 years
Office Occupancy[1] Actual 30.5% Including Signed Leases 38.9% Including Heads of Agreement 50.2% Key Tenants Area (sqm) Afterpay 4,800 Cornwalls 2,080
Lease Expiry Profile (by Income)
==> picture [484 x 114] intentionally omitted <==
----- Start of picture text -----
53%
15% 16%
8% 7%
0% 2% 0% 0% 0% 0%
2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032+
----- End of picture text -----
Sustainability
The redevelopment has achieved a 6 Star Green Star Design rating with documentation for the As Built rating lodged in December 2021. No sustainability data reported as the asset recently completed redevelopment.
- Landlord operated flexible space of 1,354 sqm excluded from occupancy metrics. Main image: Artist's impression.
THE GPT GROUP | 2021 ANNUAL RESULT PROPERTY COMPENDIUM
43
OFFICE PORTFOLIO
150 Collins Street
Melbourne
150 Collins Street, Melbourne
150 Collins Street is an A-Grade office and retail asset with Premium Grade services featuring 12 levels of office accommodation. The development of 150 Collins Street reached completion in November 2014 and is located in the exclusive ‘Paris’ end of Collins Street.
Key Metrics as at 31 December 2021
General Current Valuation Ownership Interest 100% GWOF Fair Value $273.5m Acquired (by GWOF) July 2012 Capitalisation Rate 4.63% Asset Quality A-Grade Valuation Type Independent Construction/Refurbishment Completed 2014 Traditional Custodians Traditional land of the Wurundjeri People Property Details Office Occupancy Office 19,100 sqm Actual 100.0% Retail 800 sqm Including Signed Leases 100.0% Car Parking Spaces 143 Including Heads of Agreement 100.0% Typical Floor Plate 1,520 sqm Office Tenant Details Key Tenants Number of Office Tenants 5 Area (sqm) WALE (by income) 4.5 years Westpac Group 14,600 VECCI 2,800
Lease Expiry Profile (by Income)
==> picture [509 x 102] intentionally omitted <==
----- Start of picture text -----
78%
15%
0% 5% 2% 0% 0% 0% 0% 0% 0%
2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032+
----- End of picture text -----
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 2021, investment in both carbon offsets and carbon removal projects delivered a net positive impact on the environment, removing an additional 7 kilograms of CO2-e per square metre (Scope 1 & 2) beyond those required for carbon neutral certification.
| NABERS Rating Energy rating (including GreenPower) 6.0 Energy rating (excluding GreenPower) 5.0 Water rating 5.5 Waste rating 3.0 |
Building Certifcations |
|---|---|
| Climate Active Carbon Neutral certifed Green Star Performance – Green Star Design & As Built 6 Star |
Note: Comprehensive sustainability data, including asset-level reporting, is available at gpt.com.au/sustainability . Data is current to 31 December 2021 assured according to Global Reporting Initiative (GRI) Sustainability Reporting Standards and the Greenhouse Gas Protocol. Ratings are as at 31 December 2021.
THE GPT GROUP | 2021 ANNUAL RESULT PROPERTY COMPENDIUM
45
OFFICE PORTFOLIO
530 Collins Street
Melbourne
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 2021
| General Ownership Interest 100% GWOF Acquired (by GWOF) July 2006 Asset Quality Premium Grade Construction/Refurbishment Completed 1991/Refurbished 2009 and 2021 Traditional Custodians Traditional land of the Wurundjeri People Property Details Ofce 65,000 sqm Retail 1,900 sqm Car Parking Spaces 304 Typical Floor Plate Podium: 3,510 sqm, Tower: 1,260 sqm Ofce Tenant Details Number of Ofce Tenants 25 WALE (by income) 4.5 years |
Current Valuation | |
|---|---|---|
| Fair Value Capitalisation Rate Valuation Type Ofce Occupancy |
$800.0m 4.75% Independent |
|
| Actual Including Signed Leases Including Heads of Agreement Key Tenants |
82.0% 83.3% 84.4% |
|
| Suncorp Mills Oakley |
Area (sqm) | |
| 15,450 5,390 |
Lease Expiry Profile (by Income)
==> picture [482 x 89] intentionally omitted <==
----- Start of picture text -----
30%
27%
14%
9%
6% 5%
3% 1% 3% 0% 2%
2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032+
----- End of picture text -----
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 2021, investment in both carbon offsets and carbon removal projects delivered a net positive impact on the environment, removing an additional 4 kilograms of CO2-e per square metre (Scope 1 & 2) beyond those required for carbon neutral certification.
| NABERS Rating Energy rating (including GreenPower) 6.0 Energy rating (excluding GreenPower) 5.0 Water rating 5.5 Waste rating 3.5 |
Building Certifcations |
|---|---|
| Climate Active Carbon Neutral certifed Green Star Performance – Green Star Design & As Built – |
Note: Comprehensive sustainability data, including asset-level reporting, is available at gpt.com.au/sustainability . Data is current to 31 December 2021 assured according to Global Reporting Initiative (GRI) Sustainability Reporting Standards and the Greenhouse Gas Protocol. Ratings are as at 31 December 2021.
THE GPT GROUP | 2021 ANNUAL RESULT PROPERTY COMPENDIUM
47
OFFICE PORTFOLIO
655 Collins Street Melbourne
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 2021
General Ownership Interest 100% GWOF Acquired (by GWOF) May 2014 Asset Quality A-Grade Construction/Refurbishment Completed 2009 Traditional Custodians Traditional land of the Wurundjeri People
Current Valuation
Fair Value $178.0m Capitalisation Rate 4.75% Valuation Type Independent
Property Details Office 16,600 sqm Retail N/A Car Parking Spaces 89 Typical Floor Plate 2,500 sqm Office Tenant Details Number of Office Tenants 1 WALE (by income) 7.9 years
Office Occupancy Actual 100.0% Including Signed Leases 100.0% Including Heads of Agreement 100.0% Key Tenants Area (sqm) Nine 16,600
Lease Expiry Profile (by Income)
==> picture [482 x 109] intentionally omitted <==
----- Start of picture text -----
100%
0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032+
----- End of picture text -----
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 2021, investment in both carbon offsets and carbon removal projects delivered a net positive impact on the environment, removing an additional 11 kilograms of CO2-e per square metre (Scope 1 & 2) beyond those required for carbon neutral certification.
| NABERS Rating Energy rating (including GreenPower) 6.0 Energy rating (excluding GreenPower) 4.5 Water rating 5.5 Waste rating 2.0 |
Building Certifcations |
|---|---|
| Climate Active Carbon Neutral certifed Green Star Performance – Green Star Design & As Built 5 Star |
Note: Comprehensive sustainability data, including asset-level reporting, is available at gpt.com.au/sustainability . Data is current to 31 December 2021 assured according to Global Reporting Initiative (GRI) Sustainability Reporting Standards and the Greenhouse Gas Protocol. Ratings are as at 31 December 2021.
THE GPT GROUP | 2021 ANNUAL RESULT PROPERTY COMPENDIUM
49
OFFICE PORTFOLIO
==> picture [595 x 94] intentionally omitted <==
750 Collins Street Melbourne
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 2021
| 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 Wurundjeri People Property Details Ofce 41,400 sqm Retail N/A Car Parking Spaces 422 Typical Floor Plate 5,660 sqm Ofce Tenant Details Number of Ofce Tenants 1 WALE (by income) 13.8 years |
Current Valuation | |
|---|---|---|
| Fair Value Capitalisation Rate Valuation Type Ofce Occupancy |
$514.0m 4.50% Independent |
|
| Actual Including Signed Leases Including Heads of Agreement Key Tenants |
100.0% 100.0% 100.0% |
|
| Monash College | Area (sqm) | |
| 41,400 |
Lease Expiry Profile (by Income)
| 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% 100% |
|
|---|---|---|---|---|---|---|---|---|---|---|
| 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | 2029 | 2030 | 2031 2032+ |
Sustainability
750 Collins Street has achieved a 5 Star Green Star – Design and As Built Rating. The asset is ineligible for NABERS for offices as the tenant has taken responsibility for management of the building following completion of its refurbishment.
THE GPT GROUP | 2021 ANNUAL RESULT PROPERTY COMPENDIUM
51
OFFICE PORTFOLIO
800/808 Bourke Street Melbourne
800/808 Bourke Street, Melbourne
800 & 808 Bourke Street were completed in 2004 and 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 2021
| General Ownership Interest 100% GWOF Acquired (by GWOF) July 2006 Asset Quality A-Grade Construction/Refurbishment Completed 2004 Traditional Custodians Traditional land of the Wurundjeri People Property Details Ofce 59,600 sqm Retail 1,900 sqm Car Parking Spaces 416 Typical Floor Plate 3,500 sqm Ofce Tenant Details Number of Ofce Tenants 1 WALE (by income) 7.5 years |
Current Valuation | |
|---|---|---|
| Fair Value Capitalisation Rate Valuation Type Ofce Occupancy |
$630.0m 4.75% Independent |
|
| Actual Including Signed Leases Including Heads of Agreement Key Tenants |
100.0% 100.0% 100.0% |
|
| NAB Commonwealth of Australia (from March 2022) |
Area (sqm) | |
| 35,350 24,270 |
Lease Expiry Profile (by Income)
| 0% | 0% | 0% | 0% | 0% 59% |
0% | 0% | 0% | 0% 41% |
|
|---|---|---|---|---|---|---|---|---|---|
| 2022 | 2023 | 2024 | 2025 | 2026 2027 |
2028 | 2029 | 2030 | 2031 2032+ |
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 2021, investment in both carbon offsets and carbon removal projects delivered a net positive impact on the environment, removing an additional 5 kilograms of CO2-e per square metre (Scope 1 & 2) beyond those required for carbon neutral certification.
NABERS Rating Building Certifications Energy rating (including GreenPower) 6.0 Climate Active Carbon Neutral certified Energy rating (excluding GreenPower) 5.5 Green Star Performance – Water rating 6.0 Green Star Design & As Built – Waste rating NR
Note: Comprehensive sustainability data, including asset-level reporting, is available at gpt.com.au/sustainability . Data is current to 31 December 2021 assured according to Global Reporting Initiative (GRI) Sustainability Reporting Standards and the Greenhouse Gas Protocol. Ratings are as at 31 December 2021.
THE GPT GROUP | 2021 ANNUAL RESULT PROPERTY COMPENDIUM
53
OFFICE PORTFOLIO
Riverside Centre 123 Eagle Street, Brisbane
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 2021
| 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 | |
| Ofce | 51,200 sqm |
| Retail | 4,500 sqm |
| Car Parking Spaces | 497 |
| Typical Floor Plate | 1,500 sqm |
| Ofce Tenant Details | |
| Number of Ofce Tenants | 44 |
| WALE (by income) | 5.8 years |
Current Valuation
| Current Valuation | |
|---|---|
| Fair Value Capitalisation Rate Valuation Type Ofce Occupancy |
$753.0m 5.00% Independent |
| Actual Including Signed Leases Including Heads of Agreement Key Tenants |
97.2% 98.2% 98.2% |
| Deloite Westpac Group |
Area (sqm) |
| 7,890 6,720 |
Lease Expiry Profile (by Income)
==> picture [482 x 96] intentionally omitted <==
----- Start of picture text -----
26%
22%
17%
10%
8%
7%
4%
2% 2% 2%
0%
2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032+
----- End of picture text -----
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.
NABERS Rating
Energy rating (including GreenPower) 6.0 Energy rating (excluding GreenPower) 5.0 Water rating 4.0 Waste rating 3.5
Building Certifications
Climate Active Carbon Neutral certified Green Star Performance – Green Star Design & As Built –
Note: Comprehensive sustainability data, including asset-level reporting, is available at gpt.com.au/sustainability . Data is current to 31 December 2021 assured according to Global Reporting Initiative (GRI) Sustainability Reporting Standards and the Greenhouse Gas Protocol. Ratings are as at 31 December 2021.
THE GPT GROUP | 2021 ANNUAL RESULT PROPERTY COMPENDIUM
55
OFFICE PORTFOLIO
==> picture [150 x 143] intentionally omitted <==
Logistics
Annual Result 2021
New South Wales Assets
==> picture [473 x 268] intentionally omitted <==
----- Start of picture text -----
3 M7
Penrith 5
7
6 M2
Seven Hills
Blacktown A40
M4 A6
A44 4 A28
Erskine Park
2 M4 Parramatta A3
A9 1 EasternCreek A28 A44 9 11 Silverwater 10 A3 A40 A1
13 Smithfield 12
M12 Wetherill 14 Yennora A6
M7 Park A4
Badgerys 15 Villawood A22 Sydney
A9 WesternCreek A28 A22 Chullora A22 A36 CBD
Sydney Airport A34 M1
(planned) A34 A6 16 Kingsgrove M8
M5
Sydney
City centres Planned Motorway Airport
A9
Arterial roads Airport Port
8 Minto
Port of
Motorways West Connex Sydney
----- End of picture text -----
-
1 Erskine Park (7 assets)
-
9 Rosehill Business Park, Camellia
-
10 4 Holker Street, Newington 11 83 Derby Street, Silverwater
-
2 Eastern Creek (3 assets)
-
3 128 Andrews Road, Penrith
-
4 Huntingwood Drive, Huntingwood (2 assets)
-
12 Sydney Olympic Park (4 assets)
-
5 42 Cox Place, Glendenning
-
13 372-374 Victoria Street, Wetherill Park
-
14 Pine Road, Yennora (2 assets)
-
6 30-32 Bessemer Street, Blacktown
-
7 18-24 Abbott Road, Seven Hills
-
15 64 Biloela Street, Villawood 16 104 Vanessa Street, Kingsgrove
-
8 407 Pembroke Road, Minto
Note: 21 Pipeclay Avenue, Thornton NSW not shown.
==> picture [232 x 131] intentionally omitted <==
----- Start of picture text -----
50 Old Wallgrove Road, Eastern Creek
----- End of picture text -----
==> picture [232 x 132] intentionally omitted <==
----- Start of picture text -----
42 Cox Place, Glendenning
----- End of picture text -----
==> picture [232 x 132] intentionally omitted <==
----- Start of picture text -----
128 Andrews Road, Penrith
----- End of picture text -----
THE GPT GROUP | 2021 ANNUAL RESULT PROPERTY COMPENDIUM
57
LOGISTICS PORTFOLIO
==> picture [770 x 503] intentionally omitted <==
----- Start of picture text -----
Property Details Current Valuation Logistics Occupancy (By Area)
Inc. Inc. WALE
Site 31 Dec 21 31 Dec 21 Signed Heads of by
Ownership Acquired GLA Area Fair Value Cap Rate Valuation Actual Leases Agreement Income
(%) by GPT (sqm) (ha) ($m) (%) Type (%) (%) (%) (Years) Key Tenants Description
New South Wales
Camellia Traditional land of the Darug people
Rosehill Business Park 100 May 1998 41,900 8.0 118.0 4.50 Independent 100.0 100.0 100.0 1.3 Australian The business park comprises three modern warehouse/office
Pharmaceutical facilities leased to a range of national occupiers. Camellia benefits
Industries, from its close proximity to the M4 Motorway & James Ruse Drive.
Manford Records
Management
Eastern Creek Traditional land of the Darug people
10 Interchange Drive 100 Aug 2012 15,200 3.0 47.7 4.00 Internal 100.0 100.0 100.0 5.8 Jalco Australia Modern warehouse/office facility located in the core market of
Eastern Creek. The site benefits from its close proximity to the
M4/M7 Motorway Interchange.
54 Eastern Creek Drive 100 Apr 2016 25,400 5.1 74.5 4.00 Independent 100.0 100.0 100.0 3.1 Silk Contract Developed by GPT in 2018, the modern warehouse/office facility is
Logistics located in the core market of Eastern Creek. The site benefits from
its close proximity to the M4/M7 Motorway Interchange.
50 Old Wallgrove Road 100 Jun 2016 30,100 5.3 100.5 3.75 Independent 100.0 100.0 100.0 5.1 ACR Supply Developed by GPT in 2019, the modern warehouse/office facility is
Partners located in the core market of Eastern Creek. The site benefits from
its close proximity to the M4/M7 Motorway Interchange.
Erskine Park Traditional land of the Darug people
16-34 Templar Road 100 Jun 2008 15,200 4.0 77.0 4.00 Internal 100.0 100.0 100.0 7.5 Goodman Fielder Developed by GPT in 2009, the purpose built warehouse/
office facility is located in the core market of Erskine Park.
The site benefits from its close proximity to the M4/M7
Motorway Interchange.
36-52 Templar Road 100 Jun 2008 24,500 6.2 148.3 3.88 Internal 100.0 100.0 100.0 13.1 Scott's Developed by GPT in 2015, the purpose built warehouse/
Refrigerated office facility is located in the core market of Erskine Park.
Logistics The site benefits from its close proximity to the M4/M7
Motorway Interchange.
54-70 Templar Road 100 Jun 2008 21,000 4.3 202.2 3.88 Internal 100.0 100.0 100.0 13.5 Coles Developed by GPT in 2015, the purpose built temperature
controlled facility is located in the core market of Erskine
Park. The site benefits from its close proximity to the M4/M7
Motorway Interchange.
67-75 Templar Road 100 Jun 2008 12,700 2.3 39.8 3.75 Independent 100.0 100.0 100.0 5.1 Target Developed by GPT in 2010, the modern warehouse/office facility
is located in the core market of Erskine Park. The site benefits from
its close proximity to the M4/M7 Motorway Interchange.
29-55 Lockwood Road 100 Jun 2008 32,200 8.8 148.0 3.88 Independent 100.0 100.0 100.0 8.0 FedEx Developed by GPT in 2014, the modern warehouse/office facility
is located in the core market of Erskine Park. The site benefits from
its close proximity to the M4/M7 Motorway Interchange.
57-87 & 89-99 100 Jul 2019 37,700 9.2 124.1 3.88 Internal 100.0 100.0 100.0 8.5 Rondo, CSR The asset comprises two modern warehouse/office facilities
Lockwood Road located in the core market of Erskine Park. The site benefits from
its close proximity to the M4/M7 Motorway Interchange.
Penrith Traditional land of the Darug people
128 Andrews Road 100 Jul 2019 50,200 12.1 105.7 4.00 Internal 100.0 100.0 100.0 8.7 Visy Glass Developed by GPT in 2020, the purpose built warehouse/
office facility is strategically located adjacent to the occupier’s
manufacturing operations. The site benefits from its close
proximity to the M4, Great Western Highway and Northern Road.
----- End of picture text -----
THE GPT GROUP | 2021 ANNUAL RESULT PROPERTY COMPENDIUM
58
LOGISTICS PORTFOLIO
==> picture [770 x 507] intentionally omitted <==
----- Start of picture text -----
Property Details Current Valuation Logistics Occupancy (By Area)
Inc. Inc. WALE
Site 31 Dec 21 31 Dec 21 Signed Heads of by
Ownership Acquired GLA Area Fair Value Cap Rate Valuation Actual Leases Agreement Income
(%) by GPT (sqm) (ha) ($m) (%) Type (%) (%) (%) (Years) Key Tenants Description
New South Wales
Glendenning Traditional land of the Darug people
42 Cox Place 100 Dec 2019 17,200 3.1 52.7 4.00 Internal 100.0 100.0 100.0 9.2 Total Tyres Developed by GPT in 2021, the warehouse/office facility is
located in the core market of Glendenning. The site benefits
from its close proximity to the M4/M7 Motorway Interchange.
Minto Traditional land of the Dharawal people
407 Pembroke Road [1] 50 Oct 2008 18,400 4.6 45.5 4.00 Independent 100.0 100.0 100.0 2.9 Unilever The purpose built, temperature controlled facility is located in the
core market of Minto. The site benefits from its close proximity to
the M5 & M7 motorways.
Newington Traditional land of the Wanngal people
4 Holker Street 100 Mar 2006 7,400 0.7 50.0 5.00 Independent 100.0 100.0 100.0 4.7 TPG Telecom The high-tech data and business recovery centre is located
within close proximity of the Parramatta CBD. The facility has
benefited from significant infrastructure upgrades undertaken
by GPT and the operator throughout its occupation.
Silverwater Traditional land of the Wanngal people
83 Derby Street 100 Aug 2012 17,000 3.2 56.1 4.13 Independent 100.0 100.0 100.0 4.0 IVE Group Warehouse/office facility located in the inner market of
Silverwater. The site benefits from its close proximity to the
M4 Motorway.
Sydney Olympic Park Traditional land of the Wanngal people
Sydney Olympic Park 100 Jun 2010/ 10,900 2.1 54.8 N/A Independent 100.0 100.0 100.0 0.4 QBE, New South 3 Figtree Drive and 6 Herb Elliot are two existing low rise office
Town Centre Apr 2013 Wales Cricket facilities. The combined site provides potential future mixed
Association use redevelopment opportunities being located directly
adjacent the future Sydney Olympic Park Metro Station.
Quad 1 100 Jun 2001 4,800 0.9 32.0 5.75 Independent 97.7 97.7 100.0 2.2 Property NSW, High quality office facility located within the integrated office
Herbalife precinct of Sydney Olympic Park, located close to significant
Australasia infrastructure and public recreational amenities. The asset
currently holds a 5.5 star NABERS Energy rating and a 5.5 star
NABERS Water rating.
Quad 4 100 Jun 2004 7,600 0.8 60.0 5.25 Independent 100.0 100.0 100.0 8.8 ACPE, Balanced High quality office facility located within the integrated office
Investment precinct of Sydney Olympic Park, located close to significant
Group infrastructure and public recreational amenities. The asset is
leased to an education provider.
Wetherill Park Traditional land of the Darug people
372-374 Victoria Street 100 Jul 2006 20,500 4.1 40.2 5.00 Internal 100.0 100.0 100.0 3.2 Infrabuild Warehouse/office facility located in the inner market of
Wetherill Park. The site benefits from its close proximity to the
Cumberland Highway.
Yennora Traditional land of the Darug people
38 Pine Road 100 Nov 2013 33,800 7.4 83.3 4.25 Internal 100.0 100.0 100.0 1.2 Schenker Two modern warehouse/office facilities connected by
Australia an integrated breezeway. Yennora is an inner market that
benefits from its close proximity to the M4 Motorway and
Cumberland Highway.
38A Pine Road 100 Nov 2013 4,800 1.1 15.5 4.25 Internal 100.0 100.0 100.0 3.2 Westcon Group Developed by GPT in 2020, the modern warehouse/office facility
is located in the inner market of Yennora, benefiting from its close
proximity to the M4 Motorway and Cumberland Highway.
----- End of picture text -----
- Site area and fair value excludes development land.
THE GPT GROUP | 2021 ANNUAL RESULT PROPERTY COMPENDIUM
59
LOGISTICS PORTFOLIO
==> picture [770 x 352] intentionally omitted <==
----- Start of picture text -----
Property Details Current Valuation Logistics Occupancy (By Area)
Inc. Inc. WALE
Site 31 Dec 21 31 Dec 21 Signed Heads of by
Ownership Acquired GLA Area Fair Value Cap Rate Valuation Actual Leases Agreement Income
(%) by GPT (sqm) (ha) ($m) (%) Type (%) (%) (%) (Years) Key Tenants Description
New South Wales
Seven Hills Traditional land of the Darug people
18-24 Abbott Road 100 Oct 2006 18,100 4.0 55.0 4.00 Independent 100.0 100.0 100.0 2.7 Hills, Easy Auto Developed by GPT in 2017, the modern dual tenancy warehouse/
123 office facility is located in the inner market of Seven Hills. The site
benefits from its close proximity to the M7 & M2 Motorways.
Huntingwood Traditional land of the Darug people
1A Huntingwood Drive 100 Oct 2016 21,100 3.9 63.3 3.88 Independent 100.0 100.0 100.0 5.6 IVE Group The warehouse/office facility was significantly repositioned by
GPT in 2017. Huntingwood is a core market, benefiting from its
close proximity to the M4 & M7 motorways.
1B Huntingwood Drive 100 Oct 2016 11,300 3.1 34.3 3.88 Independent 100.0 100.0 100.0 1.7 Cahill Transport Developed by GPT in 2018, the modern warehouse/office
facility is located in the core market of Huntingwood. The site
benefits from its close proximity to the M4 & M7 motorways.
Kingsgrove
104 Vanessa Street 100 May 2019 7,100 1.2 34.0 3.75 Independent 100.0 100.0 100.0 8.6 Disability The warehouse/office facility is located in the inner market of
Services Kingsgrove. The site benefits from its close proximity to the
Australia M5 Motorway.
Villawood Traditional land of the Darug people
64 Biloela Street 100 May 2019 23,300 3.8 48.0 4.75 Internal 100.0 100.0 100.0 5.5 VIP Plastic Production/warehouse facility located in the inner market
Packaging of Villawood. The site benefits from its close proximity to the
Hume Highway.
Blacktown Traditional land of the Darug people
30-32 Bessemer Street 100 May 2019 20,100 4.5 46.5 4.50 Internal 100.0 100.0 100.0 4.0 Snack Brands Warehouse/office facility located in the inner market of
Australia Blacktown. The site benefits from its close proximity to the M7 &
M2 motorways.
Thornton Traditional land of the Wonnarua people
21 Pipeclay Avenue 100 Nov 2021 1,400 0.5 4.0 4.50 Independent 100.0 100.0 100.0 8.8 COPE Sensitive Modern warehouse facility located approximately 25 kilometres
Freight north-west of Newcastle. The site benefits from its close proximity
to the New England highway and M1 motorway.
----- End of picture text -----
THE GPT GROUP | 2021 ANNUAL RESULT PROPERTY COMPENDIUM
60
LOGISTICS PORTFOLIO
Victorian Assets
==> picture [770 x 288] intentionally omitted <==
----- Start of picture text -----
Melbourne A39 A58 1 A58
Airport Campbellfield M31
City centre
A35
A55
M2 M80 A46 Arterial roads
M79
A40
M80 A45 A27 Motorways
A41 M79 Airport
A40
M80 A35 A40 Port 1 Botero Place, Truganina
M2
M8
C702 Derrimut Sunshine Doncaster
M3
A35
6 M80 4
A83
7 9 2 3 Melbourne Box Hill A34
Truganina 8 CBD
5
Port of A24 A26
Melbourne M1
M1 A23 Glen Waverley
M3
10
Brighton 21 Shiny Drive, Gateway Logistics Hub, Truganina
----- End of picture text -----
==> picture [232 x 132] intentionally omitted <==
----- Start of picture text -----
25 Niton Drive, Gateway Logistics Hub, Truganina
----- End of picture text -----
- 6 Derrimut (2 assets)
1 Austrak Business Park, Somerton
-
7 Truganina (6 assets)
-
2 21-23 Wirraway Drive, Port Melbourne
-
8 Laverton North (2 assets)
-
3 Citiport Business Park, Port Melbourne 4 Sunshine Business Estate, Sunshine 5 Citiwest Industrial Estate, Altona North
-
9 521 Geelong Road, Brooklyn
-
10 16 Henderson Road, Knoxfield
THE GPT GROUP | 2021 ANNUAL RESULT PROPERTY COMPENDIUM
61
LOGISTICS PORTFOLIO
==> picture [770 x 516] intentionally omitted <==
----- Start of picture text -----
Property Details Current Valuation Logistics Occupancy (By Area)
Inc. Inc. WALE
Site 31 Dec 21 31 Dec 21 Signed Heads of by
Ownership Acquired GLA Area Fair Value Cap Rate Valuation Actual Leases Agreement Income
(%) by GPT (sqm) (ha) ($m) (%) Type (%) (%) (%) (Years) Key Tenants Description
Victoria
Port Melbourne Traditional land of the Bunurong people
Citiport Business Park 100 Mar 2012 26,900 2.5 117.5 4.75 Independent 78.6 83.9 83.9 3.0 Chef's Hat, Elbit Located in the inner market of Port Melbourne, Citiport
Systems of provides for a range of logistics and office occupiers. The site
Australia benefits from its close proximity to the Monash and Westgate
Freeways. The low rise office component has been refurbished
and currently holds a 5.0 star NABERS Energy and a 4.0 Star
Water rating.
21-23 Wirraway Drive 100 Mar 2020 7,200 0.8 36.5 4.38 Independent 100.0 100.0 100.0 4.0 Computershare Modern warehouse/office facility located in the inner market of
Port Melbourne. The site benefits from its close proximity to the
Monash and Westgate Freeways.
Altona North Traditional land of the Bunurong people
Citiwest Industrial Estate 100 Aug 1994 90,100 20.2 154.0 4.25 Independent 100.0 100.0 100.0 3.0 Super Retail The estate comprises six warehouse/office facilities leased to
Group Services, a number of national occupiers. Altona North is an inner market,
Dutton Garage benefiting from its close proximity to the Western Ring Road
and Westgate Freeway.
Sunshine Traditional land of the Kulin nations
Sunshine Business Estate 100 Jan 2018 52,800 8.9 108.0 4.00 Independent 100.0 100.0 100.0 4.9 IVE Group The estate comprises four modern warehouse/office
facilities and is currently leased to a single occupier.
Sunshine is an inner market, benefiting from its close
proximity to the Western Ring Road and Westgate Freeway.
Brooklyn Traditional land of the Bunurong people
521 Geelong Road 100 Nov 2021 12,600 5.2 50.9 N/A Independent 100.0 100.0 100.0 7.2 Tasman Logistics The site currently holds a warehouse/office facility and
Service the 5.2 hectare site provides long term redevelopment
opportunities. Brooklyn is an inner market, providing nearby
access to the Westgate Freeway and Port of Melbourne.
Derrimut Traditional land of the Bunurong people
396 Mount Derrimut 100 Nov 2018 10,700 1.9 18.8 4.00 Independent 100.0 100.0 100.0 2.0 Mesh & Bar Modern warehouse/office facility located in the core market
Road of Derrimut. The site benefits from its close proximity to the
Western Ring Road.
40 Fulton Drive 100 Nov 2021 6,500 2.1 17.2 3.75 Independent 100.0 100.0 100.0 8.8 COPE Sensitive Modern warehouse/office facility located in the core market
Freight of Derrimut. The site benefits from its close proximity to the
Western Ring Road.
Truganina Traditional land of the Bunurong people
21 Shiny Drive 100 Nov 2018 26,500 4.2 55.5 4.00 Independent 100.0 100.0 100.0 4.5 Godfrey Hirst, Developed by GPT in 2019, the modern warehouse/office
Petstock facility is located in the core market of Truganina. The site
benefits from its close proximity to the Western Ring Road.
2 Prosperity Street 100 Jul 2019 24,000 3.9 49.0 4.00 Independent 100.0 100.0 100.0 5.0 The Glen Developed by GPT in 2021, the modern warehouse/office
Cameron Group facility is located in the core market of Truganina. The site
benefits from its close proximity to the Western Ring Road.
25 Niton Drive 100 Jul 2019 29,800 4.5 59.0 4.00 Independent 100.0 100.0 100.0 4.7 The Hut Group Developed by GPT in 2021, the modern warehouse/office
facility is located in the core market of Truganina. The site
benefits from its close proximity to the Western Ring Road.
----- End of picture text -----
THE GPT GROUP | 2021 ANNUAL RESULT PROPERTY COMPENDIUM
62
LOGISTICS PORTFOLIO
==> picture [770 x 361] intentionally omitted <==
----- Start of picture text -----
Property Details Current Valuation Logistics Occupancy (By Area)
Inc. Inc. WALE
Site 31 Dec 21 31 Dec 21 Signed Heads of by
Ownership Acquired GLA Area Fair Value Cap Rate Valuation Actual Leases Agreement Income
(%) by GPT (sqm) (ha) ($m) (%) Type (%) (%) (%) (Years) Key Tenants Description
Victoria
1 Botero Place 100 May 2020 23,800 4.9 54.5 3.75 Independent 100.0 100.0 100.0 8.4 DHL Purpose built for DHL, the temperature controlled warehouse
and office is located in the core market of Truganina. The site
benefits from its close proximity to the Western Ring Road.
Foundation Estate [1] 100 Dec 2020 44,100 9.4 148.0 3.75 Independent 100.0 100.0 100.0 7.1 Couriers Please, The estate comprises five modern warehouse/office
Laverton Cold facilities located in the core market of Truganina. The site
Storage benefits from its close proximity to the Western Ring Road.
Development of a 10,600sqm facility within the estate is due
for completion in 2022.
399 Boundary Road 100 Dec 2018 11,900 2.4 27.0 3.75 Independent 100.0 100.0 100.0 7.2 Krueger Modern warehouse/office facility located in the core market
Transport of Truganina. The site benefits from its close proximity to the
Equipment Western Ring Road.
Laverton North Traditional land of the Bunurong people
235-239 Boundary Road 100 Aug 2021 33,500 5.7 72.8 3.75 Independent 100.0 100.0 100.0 4.5 Spotlight The recently completed warehouse/office facility is located
in the inner market of Laverton North. The site benefits from
its close proximity to the Western Ring Road.
79 Cherry Lane 100 Nov 2021 17,000 3.1 48.3 3.63 Independent 100.0 100.0 100.0 16.7 Probiotec Purpose built medical grade and warehousing facilities
Pharma located in the inner market of Laverton North. The site
benefits from its close proximity to the Western Ring Road.
Knoxfield Traditional land of the Wurundjeri people
16 Henderson Road 100 Nov 2021 12,200 2.4 34.2 3.75 Independent 100.0 100.0 100.0 10.7 Prydes The purpose built temperature controlled facility is located
Confectionery in the established mixed-use precinct of Knoxfield. The site
benefits from its close proximity to the Eastlink Tollway and
Ferntree Gully Road.
Somerton Traditional land of the Wurundjeri people
Austrak Business Park [1] 50 Oct 2003 210,000 63.4 255.3 4.00 Independent 89.7 89.7 89.7 4.0 Coles, Linfox The business park comprises seven modern warehouse/
logistics facilities, leased to various national operators and
an intermodal rail terminal. It is located in the core market
of Somerton.
----- End of picture text -----
- Site area and fair value excludes development land.
THE GPT GROUP | 2021 ANNUAL RESULT PROPERTY COMPENDIUM
63
LOGISTICS PORTFOLIO
Queensland Assets
==> picture [473 x 318] intentionally omitted <==
----- Start of picture text -----
Brisbane
Airport
City centre M1 Port of Brisbane
A3
Arterial roads M7
Motorways
M4
Brisbane Murarrie
Airport
CBD 6 5 Tingalpa
Port
M5 M1
A7
M3
A17
Wacol M7
M2 1
Wulkuraka M2
7 Springwood
M2 2 3
Berrinba
A5 M6
Crestmead 4
M1
----- End of picture text -----
==> picture [130 x 10] intentionally omitted <==
----- Start of picture text -----
1 55 Whitelaw Place, Wacol
----- End of picture text -----
-
5 248 Fleming Road, Tingalpa 6 48 Miller Street, Murarrie 7 4 Enterprise Street, Wulkuraka
-
2 59 Forest Way, Karawatha
-
3 Berrinba (3 assets)
-
4 102-108 Magnesium Drive, Crestmead
Note: 15 Northern Link Circuit, Townsville and 2-8 Ridley Close, Cairns QLD not shown.
==> picture [232 x 131] intentionally omitted <==
----- Start of picture text -----
55 Whitelaw Place, Wacol
----- End of picture text -----
==> picture [232 x 132] intentionally omitted <==
----- Start of picture text -----
1 Wattlebird Court, Wembley Business Park, Berrinba
----- End of picture text -----
==> picture [232 x 132] intentionally omitted <==
----- Start of picture text -----
2 Ironbark Close, Wembley Business Park, Berrinba
----- End of picture text -----
THE GPT GROUP | 2021 ANNUAL RESULT PROPERTY COMPENDIUM
64
LOGISTICS PORTFOLIO
==> picture [770 x 484] intentionally omitted <==
----- Start of picture text -----
Property Details Current Valuation Logistics Occupancy (By Area)
Inc. Inc. WALE
Site 31 Dec 21 31 Dec 21 Signed Heads of by
Ownership Acquired GLA Area Fair Value Cap Rate Valuation Actual Leases Agreement Income
(%) by GPT (sqm) (ha) ($m) (%) Type (%) (%) (%) (Years) Key Tenants Description
Queensland
Karawatha Traditional land of the Yuggera people
59 Forest Way 100 Dec 2012 44,000 13.4 157.5 4.00 Independent 100.0 100.0 100.0 7.2 Toll Developed by GPT in 2014, the purpose built distribution centre is
located in an core market and benefits from its close proximity to the
M1 motorway.
Wacol Traditional land of the Turrbul people
55 Whitelaw Place 100 Dec 2016 5,600 2.1 23.3 4.00 Independent 100.0 100.0 100.0 10.4 Loscam Developed by GPT in 2017, the purpose built warehouse/office
Australia facility is located in an core market and benefits from its close
proximity to the Ipswich and Centenary motorways.
Berrinba
2 Ironbark Close 100 Jun 2015 20,600 4.9 66.3 4.00 Independent 100.0 100.0 100.0 8.2 DHL Developed by GPT in 2020 as the first stage of Wembley Business
Park, the purpose built facility incorporates two warehouses
connected by a super-awning. Berrinba is a core market that
benefits from its close proximity to the Logan motorway.
30 Ironbark Close 100 Jun 2015 14,400 3.4 34.7 4.38 Independent 100.0 100.0 100.0 3.5 JB Hi-Fi, Developed by GPT in 2020 as the second stage of Wembley
Windoware Business Park, the dual tenancy warehouse/office facility is
occupied by national retail and wholesale occupiers.
1 Wattlebird Court 100 Jun 2015 16,300 3.6 40.6 4.38 Independent 100.0 100.0 100.0 5.5 Mainfreight, Developed by GPT in 2021, the latest completed stage of Wembley
Nature's Business Park, the dual tenancy warehouse/office facility is
Best occupied by national transport and wholesale occupiers.
Crestmead Traditional land of the Yugara people and the Turrbal people
102-108 Magnesium 100 Nov 2021 8,800 1.8 26.8 3.88 Independent 100.0 100.0 100.0 10.2 Oxworks Modern warehouse/office facility located in the core market
Drive of Crestmead. The site benefits from its close proximity to the
Logan motorway.
Tingalpa Traditional land of the Yugara people and the Turrbal people
248 Fleming Road 100 Nov 2021 5,200 1.0 29.6 4.13 Independent 100.0 100.0 100.0 4.5 Royal Two temperature controlled facilities located in the inner market
Foods of Tingalpa. The site benefits from its close proximity to the
Gateway motorway.
Murarrie Traditional land of the Yuggera people
48 Miller Street 100 Nov 2021 4,000 0.8 39.8 4.50 Independent 100.0 100.0 100.0 6.9 Tritium Modern laboratory/warehouse facility located in the inner market
of Murarrie. The site benefits from its close proximity to the
Gateway motorway.
Wulkuraka Traditional land of the Yuggera Ugarapul people
4 Enterprise Street 100 Nov 2021 25,900 4.2 117.5 3.50 Independent 100.0 100.0 100.0 19.7 Asahi Purpose built manufacturing facility located within close proximity
of the Ipswich CBD. The asset was recently expanded and benefits
from its close proximity to the Warrego Highway.
Townsville Traditional land of the Yuwibara people
15 Northern Link Circuit 100 Nov 2021 4,800 1.5 28.7 4.38 Independent 100.0 100.0 100.0 10.0 Bega Recently completed, the purpose built temperature controlled
Cheese facility located within close proximity of the Townsville CBD.
Cairns Traditional land of the Gimuy-Walubarra Yidi people
2-8 Ridley Close 100 Nov 2021 1,000 0.6 2.5 5.50 Independent 100.0 100.0 100.0 8.8 COPE Modern warehouse/distribution facility located within close
Sensitive proximity of the Cairns CBD.
Freight
----- End of picture text -----
THE GPT GROUP | 2021 ANNUAL RESULT PROPERTY COMPENDIUM
LOGISTICS PORTFOLIO
65
South Australian Assets
==> picture [473 x 318] intentionally omitted <==
----- Start of picture text -----
A20
Gillman A9 M2
3 5
Wingfield A16
Port of Adelaide A16
A10
A2
4
Royal A1
Park A7
A11
City centre
A14 Arterial roads
A15
Motorways
A17
Adelaide
A6 CBD Airport
1 A2 Port
2
Adelaide
Airport
A3
M1
----- End of picture text -----
1 1 Vimy Avenue, Adelaide Airport
-
2 26 Butler Boulevard, Adelaide Airport
-
3 176 Eastern Parade, Gillman
-
4 1A Symonds Street, Royal Park
-
5 6-10 Senna Road, Wingfield
==> picture [232 x 131] intentionally omitted <==
----- Start of picture text -----
26 Butler Boulevard, Adelaide Airport
----- End of picture text -----
==> picture [232 x 132] intentionally omitted <==
----- Start of picture text -----
176 Eastern Parade, Gillman
----- End of picture text -----
==> picture [232 x 132] intentionally omitted <==
----- Start of picture text -----
1A Symonds Street, Royal Park
----- End of picture text -----
THE GPT GROUP | 2021 ANNUAL RESULT PROPERTY COMPENDIUM
66
LOGISTICS PORTFOLIO
==> picture [770 x 278] intentionally omitted <==
----- Start of picture text -----
Property Details Current Valuation Logistics Occupancy (By Area)
Inc. Inc. WALE
Site 31 Dec 21 31 Dec 21 Signed Heads of by
Ownership Acquired GLA Area Fair Value Cap Rate Valuation Actual Leases Agreement Income
(%) by GPT (sqm) (ha) ($m) (%) Type (%) (%) (%) (Years) Key Tenants Description
South Australia
Adelaide Airport Traditional land of the Kaurna people
1 Vimy Avenue 100 Nov 2021 9,800 1.9 20.2 4.25 Independent 100.0 100.0 100.0 7.4 Bunzl Outsourcing Modern warehouse/distribution facility located directly
Services adjacent to the Adelaide Airport and within close proximity
of the CBD.
26 Butler Boulevard 100 Nov 2021 6,800 1.5 16.5 4.25 Independent 100.0 100.0 100.0 8.9 Boart Longyear Modern warehouse/distribution facility located directly
adjacent to the Adelaide Airport and within close proximity
of the CBD.
Gillman Traditional land of the Kaurna people
176 Eastern Parade 100 Nov 2021 6,800 2.4 19.5 5.00 Independent 100.0 100.0 100.0 4.0 Qube Logistics Refurbished warehouse facility with extensive container
rated hardstand areas. It is located within close proximity of
the Port of Adelaide.
Royal Park Traditional land of the Kaurna people
1A Symonds Street 100 Nov 2021 2,700 0.7 6.8 4.00 Independent 100.0 100.0 100.0 8.8 COPE Sensitive Warehouse/office facility providing dual side dock access.
Freight The site benefits from its proximity to the Port of Adelaide
and the CBD.
Wingfield Traditional land of the Kaurna people
6-10 Senna Road 100 Nov 2021 13,400 2.9 38.5 4.50 Independent 100.0 100.0 100.0 4.5 GPC Asia Pacific Modern warehouse/office and showroom facility. The
site benefits from its close proximity to the South Road
Superway, providing access to the North-South Motorway.
----- End of picture text -----
THE GPT GROUP | 2021 ANNUAL RESULT PROPERTY COMPENDIUM
67
LOGISTICS PORTFOLIO
Western Australian Assets
==> picture [473 x 325] intentionally omitted <==
----- Start of picture text -----
Wangara 34 2 A84
A95
A4
A81 A52
A56
A50
A60 A53 M1
A76
A75
A72 A2
A64
Perth
Airport A41
A3
Perth
A5 CBD A8
City centre
M1
A7 Arterial roads
A6
Port of Perth A27 Motorways
A3 A30
A4 Airport
A13 1
A12 A2 Port
Canning Vale
----- End of picture text -----
1 15 Modal Crescent, Canning Vale
-
2 23 Destiny Way, Wangara
-
3 50 Triumph Avenue, Wangara
-
4 56 Triumph Avenue, Wangara
==> picture [232 x 131] intentionally omitted <==
----- Start of picture text -----
15 Modal Crescent, Canning Vale
----- End of picture text -----
==> picture [232 x 132] intentionally omitted <==
----- Start of picture text -----
23 Destiny Way, Wangara
----- End of picture text -----
==> picture [232 x 132] intentionally omitted <==
----- Start of picture text -----
50 Triumph Avenue, Wangara
----- End of picture text -----
THE GPT GROUP | 2021 ANNUAL RESULT PROPERTY COMPENDIUM
68
LOGISTICS PORTFOLIO
==> picture [770 x 183] intentionally omitted <==
----- Start of picture text -----
Property Details Current Valuation Logistics Occupancy (By Area)
Inc. Inc. WALE
Site 31 Dec 21 31 Dec 21 Signed Heads of by
Ownership Acquired GLA Area Fair Value Cap Rate Valuation Actual Leases Agreement Income
(%) by GPT (sqm) (ha) ($m) (%) Type (%) (%) (%) (Years) Key Tenants Description
Western Australia
Canning Vale Traditional land of the Whadjuk people
15 Modal Crescent 100 Nov 2021 9,600 3.1 23.8 4.50 Independent 100.0 100.0 100.0 8.8 COPE Sensitive Modern warehouse/office facility located in the core
Freight market of Canningvale.
Wangara Traditional land of the Whadjuk people
23 Destiny Way 100 Nov 2021 4,600 3.1 25.5 5.25 Independent 100.0 100.0 100.0 2.7 GCS Hire Modern workshop/office facility located in the core market
of Wangara.
50 Triumph Avenue 100 Nov 2021 3,700 0.8 7.3 5.00 Independent 100.0 100.0 100.0 4.0 ContiTech Modern warehouse/office facility located in the core
Australia market of Wangara.
56 Triumph Avenue 100 Nov 2021 2,800 0.6 4.9 5.50 Independent 100.0 100.0 100.0 0.7 Glass Processing Modern warehouse/office facility located in the core
Australia market of Wangara.
----- End of picture text -----
THE GPT GROUP | 2021 ANNUAL RESULT PROPERTY COMPENDIUM
69
LOGISTICS PORTFOLIO
Australian Capital Territory, Northern Territory and Tasmanian Assets
==> picture [770 x 218] intentionally omitted <==
----- Start of picture text -----
Property Details Current Valuation Logistics Occupancy (By Area)
31 Dec Inc. Inc. WALE
Site 21 Fair 31 Dec Signed Heads of by
Ownership Acquired GLA Area Value 21 Cap Valuation Actual Leases Agreement Income
(%) by GPT (sqm) (ha) ($m) Rate (%) Type (%) (%) (%) (Years) Key Tenants Description
Australian Capital Territory
Symonston Traditional land of the Ngunnawal people
12 Faulding Street 100 Nov 2021 3,300 0.7 22.6 5.13 Independent 100.0 100.0 100.0 2.7 Telstra Two modern warehouse/office facilities located
6 kilometres south-east of the Canberra CBD.
The larger facility includes two levels of office, warehouse
as well as undercroft and hardstand parking.
Northern Territory
Berrimah Traditional land of the Larrakia people
16 Anictomatis Road 100 Nov 2021 1,100 0.4 3.0 5.00 Independent 100.0 100.0 100.0 8.8 COPE Sensitive Modern warehouse/office facility located within close
Freight proximity of the Darwin CBD.
Tasmania
Cambridge Traditional land of the Paredarerme people
229 Kennedy Drive 100 Nov 2021 1,200 0.4 2.9 5.00 Independent 100.0 100.0 100.0 8.8 COPE Sensitive Modern warehouse/office facility located within close
Freight proximity of Hobart Airport.
----- End of picture text -----
THE GPT GROUP | 2021 ANNUAL RESULT PROPERTY COMPENDIUM
70
LOGISTICS PORTFOLIO
==> picture [151 x 151] intentionally omitted <==
Retail Portfolio
Annual Result 2021
Casuarina Square Northern Territory
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 196 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 2021
General
Ownership Interest 50% GPT Co-Owners 50% GWSCF Acquired October 1973 (GPT), June 2012 (GWSCF) Asset Type Regional Construction Completed 1973 Latest Refurbishment/Development 2016 (Entertainment and Leisure Precinct) Traditional Custodians Traditional land of the Larrakia people
| Current Valuation | ||
|---|---|---|
| Fair Value1 | GPT: $198.6m, GWSCF: $198.6m | |
| Capitalisation Rate2 | 6.25% | |
| Valuation Type | Internal |
Centre Details
Total GLA 55,000 sqm Number of Tenancies 196 Car Parking Spaces 2,456 Retail Occupancy 99.0%
Sales Information
| Sales Information | |
|---|---|
| Sales Turnover per Square Metre Occupancy Costs Annual Centre Turnover Key Tenants |
Total Centre Specialties |
| $7,434 $11,409 9.9% 14.4% $359.8m |
|
| 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 2021 assured 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 | 2021 ANNUAL RESULT PROPERTY COMPENDIUM
73
RETAIL PORTFOLIO
Charlestown Square New South Wales
Charlestown Square, New South Wales
Charlestown Square is the largest shopping and entertainment destination in the Newcastle and Hunter region.
The centre incorporates 260 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 2021
General
Ownership Interest 100% GPT Acquired December 1977 Asset Type Super Regional Construction Completed 1979 Latest Refurbishment/Development 2019 ("The Corner" Dining Precinct) Traditional Custodians Traditional land of the Awabakal people
Current Valuation
Fair Value GPT: $864.4m Capitalisation Rate 5.50% Valuation Type Internal
Centre Details
Total GLA 91,200 sqm Number of Tenancies 260 Car Parking Spaces 3,419 Retail Occupancy 99.6%
Sales Information
| Sales Turnover per Square Metre Occupancy Costs Annual Centre Turnover |
Total Centre Specialties |
|---|---|
| $6,046 $10,509 11.6% 16.3% $497.1m |
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 2021 assured according to Global Reporting Initiative (GRI) Sustainability Reporting Standards and the Greenhouse Gas Protocol.
THE GPT GROUP | 2021 ANNUAL RESULT PROPERTY COMPENDIUM
75
RETAIL PORTFOLIO
Highpoint Shopping Centre Victoria
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 447 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 will also introduce a Coles Supermarket and 'Waterman' co-working space in 2023.
Having undergone a full aesthetic upgrade during 2020 and 2021, 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 2021
| Key Metrics as at 31 December 2021 | |
|---|---|
| General Ownership Interest 16.67% GPT Co-Owners 83.33% GWSCF Acquired August 2009 (GPT), March 2007 (GWSCF) Asset Type Super Regional Construction Completed 1975 Latest Refurbishment/Development 2021 (Existing Centre Upgrades) Traditional Custodians Traditional land of the Wurundjeri people of the Kulin nations |
Current Valuation |
| Fair Value GPT: $366.7m, GWSCF: $1,833.3m Capitalisation Rate 4.50% Valuation Type Independent |
| Centre Details | |
|---|---|
| Total GLA | 150,900 sqm |
| Number of Tenancies | 447 |
| Car Parking Spaces | 7,276 |
| Retail Occupancy | 98.6% |
Sales Information
| Sales Information | |
|---|---|
| Sales Turnover per Square Metre Occupancy Costs Annual Centre Turnover Key Tenants |
Total Centre Specialties |
| $6,533 $9,509 14.0% 20.0% $819.7m |
|
| Myer Hoyts Big W David Jones Kmart Waterman (AFL) Woolworths Coles (AFL) |
Area (sqm) |
| 14,520 9,030 8,160 7,750 6,260 4,600 4,240 4,000 |
Sustainability
Note: Comprehensive sustainability data, including asset-level reporting, is available at gpt.com.au/sustainability . Data is current to 31 December 2021 assured according to Global Reporting Initiative (GRI) Sustainability Reporting Standards and the Greenhouse Gas Protocol.
THE GPT GROUP | 2021 ANNUAL RESULT PROPERTY COMPENDIUM
77
RETAIL PORTFOLIO
Melbourne Central
Victoria
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 292 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 2021
General Ownership Interest 100% GPT Acquired 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] GPT: $1,492.0m Capitalisation Rate[2] 4.50% Valuation Type Independent
Centre Details
Total GLA 56,300 sqm Number of Tenancies 292 Car Parking Spaces 822 Retail Occupancy 97.6%
Sales Information
Total Centre Specialties Sales Turnover per Square Metre $6,245 $7,095 Occupancy Costs 21.6% 29.4% Annual Centre Turnover $299.1m 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 2021 assured according to Global Reporting Initiative (GRI) Sustainability Reporting Standards and the Greenhouse Gas Protocol.
-
Retail component only.
-
Includes retail and car park.
THE GPT GROUP | 2021 ANNUAL RESULT PROPERTY COMPENDIUM
79
RETAIL PORTFOLIO
Rouse Hill Town Centre New South Wales
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 also benefits from the North West Metro with the Rouse Hill Station sitting adjacent to the Town Centre.
Key Metrics as at 31 December 2021
General
Ownership Interest 100% GPT Acquired Stage 1: September 2007 Stage 2: March 2008 Asset Type Regional Construction Completed 2008 Traditional Custodians Traditional land of the Darug people
Current Valuation Fair Value GPT: $672.8m Capitalisation Rate 5.50% Valuation Type Internal
Centre Details
Total GLA 69,700 sqm Number of Tenancies 251 Car Parking Spaces 2,621 Retail Occupancy 100%
Sales Information
| Sales Turnover per Square Metre Occupancy Costs Annual Centre Turnover Key Tenants |
Total Centre Specialties |
|---|---|
| $7,472 $9,407 9.3% 14.5% $460.6m |
|
| Big W Kmart 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 2021 assured according to Global Reporting Initiative (GRI) Sustainability Reporting Standards and the Greenhouse Gas Protocol.
THE GPT GROUP | 2021 ANNUAL RESULT PROPERTY COMPENDIUM
81
RETAIL PORTFOLIO
Sunshine Plaza
Queensland
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 331 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 2021
| General | |
|---|---|
| Ownership Interest | 50% GPT |
| Co-Owners | 50% Australian Prime Property Fund Retail |
| Acquired | December 1992 |
| Asset Type | Super Regional |
| Construction | Completed 1994 |
| Latest Refurbishment/Development | 2019 (Centre Expansion) |
| Traditional Custodians | Traditional land of the Gubbi Gubbi people |
| Centre Details | |
| Total GLA | 107,900 sqm |
| Number of Tenancies | 331 |
| Car Parking Spaces | 4,962 |
| Retail Occupancy | 99.1% |
| Current Valuation | |
|---|---|
| Fair Value | GPT: $596.2m |
| Capitalisation Rate | 5.00% |
| Valuation Type | Internal |
Sales Information
| Sales Information | |
|---|---|
| Sales Turnover per Square Metre Occupancy Costs Annual Centre Turnover Key Tenants |
Total Centre Specialties |
| $6,905 $10,262 11.3% 17.0% $678.2m |
|
| 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 2021 assured according to Global Reporting Initiative (GRI) Sustainability Reporting Standards and the Greenhouse Gas Protocol.
THE GPT GROUP | 2021 ANNUAL RESULT PROPERTY COMPENDIUM
RETAIL PORTFOLIO 83
Westfield Penrith New South Wales
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 319 tenancies including the region's only Myer department store, in addition to a Big W DDS, a Hoyts Cinema complex and two supermarkets. The Centre will also be introducing a Coles Supermarket in late 2022. Westfield Penrith is owned jointly with, and managed by Scentre Group.
Key Metrics as at 31 December 2021
General
Ownership Interest 50% GPT Co-Owners 50% Scentre Group Acquired June 1971 Asset Type Super Regional Construction Completed 1971 Latest Refurbishment/Development 2005 (Major Redevelopment) Traditional Custodians Traditional land of the Darug people
Current Valuation
Fair Value GPT: $660.0m Capitalisation Rate 5.00% Valuation Type Independent
Centre Details
Total GLA 90,900 sqm Number of Tenancies 319 Car Parking Spaces 3,521 Retail Occupancy 98.5%
Sales Information
| Sales Turnover per Square Metre Occupancy Costs Annual Centre Turnover |
Total Centre Specialties |
|---|---|
| $6,095 $9,313 15.6% 23.2% $500.6m |
Key Tenants
| Key Tenants | |
|---|---|
| Myer Big W Hoyts Coles (AFL) Woolworths Aldi |
Area (sqm) |
| 20,110 8,740 4,790 3,830 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 2021 assured according to Global Reporting Initiative (GRI) Sustainability Reporting Standards and the Greenhouse Gas Protocol.
THE GPT GROUP | 2021 ANNUAL RESULT PROPERTY COMPENDIUM
85
RETAIL PORTFOLIO
Chirnside Park Victoria
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 117 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 2021
General
Ownership Interest 100% GWSCF Acquired March 2007 Asset Type Regional 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 39,100 sqm Number of Tenancies 117 Car Parking Spaces 2,088 Retail Occupancy 99.3%
Current Valuation
Fair Value GWSCF: $275.0m Capitalisation Rate 5.75% Valuation Type Independent
Sales Information
| Sales Turnover per Square Metre Occupancy Costs Annual Centre Turnover Key Tenants |
Total Centre Specialties |
|---|---|
| $8,191 $11,915 7.3% 15.4% $289.4m |
|
| Kmart Target Woolworths Reading Cinemas Coles Aldi |
Area (sqm) |
| 8,250 4,770 4,180 3,500 3,290 1,520 |
Sustainability
Note: Comprehensive sustainability data, including asset-level reporting, is available at gpt.com.au/sustainability . Data is current to 31 December 2021 assured according to Global Reporting Initiative (GRI) Sustainability Reporting Standards and the Greenhouse Gas Protocol.
THE GPT GROUP | 2021 ANNUAL RESULT PROPERTY COMPENDIUM
87
RETAIL PORTFOLIO
Macarthur Square New South Wales
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 329 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 2021
| Key Metrics as at 31 December 2021 | |
|---|---|
| General Ownership Interest 50% GWSCF Co-Owners 50% Australian Prime Property Fund Retail Acquired March 2007 Asset Type Super Regional Construction Completed 1979 Latest Refurbishment/Development 2017 (Centre Expansion) Traditional Custodians Traditional land of the Dharawal nation |
Current Valuation |
| Fair Value GWSCF: $493.5m Capitalisation Rate 5.25% Valuation Type Independent |
| Centre Details Total GLA 108,700 sqm Number of Tenancies 329 Car Parking Spaces 4,142 Retail Occupancy 99.8% |
Sales Information | |
|---|---|---|
| Sales Turnover per Square Metre Occupancy Costs Annual Centre Turnover Key Tenants |
Total Centre Specialties |
|
| $5,530 $7,414 12.1% 19.7% $538.8m |
||
| 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 2021 assured according to Global Reporting Initiative (GRI) Sustainability Reporting Standards and the Greenhouse Gas Protocol.
THE GPT GROUP | 2021 ANNUAL RESULT PROPERTY COMPENDIUM
RETAIL PORTFOLIO 89
Northland Shopping Centre Victoria
Northland Shopping Centre, Victoria
Northland Shopping Centre is located in East Preston, approximately 11 kilometres north of Melbourne’s CBD.
The centre incorporates 282 tenancies including a Myer department store, two discount department stores, three supermarkets and a cinema entertainment offer. The trade area is supported by 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 2021
General Ownership Interest 50% GWSCF Co-Owners 50% Vicinity Centres Acquired May 2014 Asset Type Super Regional 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
Total GLA 96,900 sqm Number of Tenancies 282 Car Parking Spaces 4,640 Retail Occupancy 99.4%
Current Valuation Fair Value GWSCF: $398.5m Capitalisation Rate 5.50% Valuation Type Independent
Sales Information
| Sales Turnover per Square Metre Occupancy Costs Annual Centre Turnover |
Total Centre Specialties |
|---|---|
| $5,296 $7,512 12.5% 20.3% $473.7m |
Key Tenants
| Key Tenants | |
|---|---|
| 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 2021 assured according to Global Reporting Initiative (GRI) Sustainability Reporting Standards and the Greenhouse Gas Protocol.
THE GPT GROUP | 2021 ANNUAL RESULT PROPERTY COMPENDIUM
91
RETAIL PORTFOLIO
Parkmore Shopping Centre
Victoria
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 126 tenancies including two discount department stores and two supermarkets as well as a strong convenience and service offering.
Key Metrics as at 31 December 2021
General
Ownership Interest 100% GWSCF Acquired March 2007 Asset Type Regional Construction Completed 1973 Latest Refurbishment/Development 2007 (Centre Expansion) Traditional Custodians Traditional land of the Kulin nations
Current Valuation
Fair Value GWSCF: $284.0m Capitalisation Rate 5.75% Valuation Type Independent
Centre Details
Total GLA 36,900 sqm Number of Tenancies 126 Car Parking Spaces 2,519 Retail Occupancy 100%
Sales Information
Total Centre Specialties Sales Turnover per Square Metre $6,872 $8,354 Occupancy Costs 8.8% 16.5% Annual Centre Turnover $231.8m
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 2021 assured according to Global Reporting Initiative (GRI) Sustainability Reporting Standards and the Greenhouse Gas Protocol.
THE GPT GROUP | 2021 ANNUAL RESULT PROPERTY COMPENDIUM
93
RETAIL PORTFOLIO
==> picture [93 x 6] intentionally omitted <==
----- Start of picture text -----
94 RETAIL PORTFOLIO
----- End of picture text -----
==> picture [129 x 9] intentionally omitted <==
----- Start of picture text -----
Casuarina Square, Northern Territory
----- End of picture text -----