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GPT GROUP — Interim / Quarterly Report 2022
Aug 14, 2022
65009_rns_2022-08-14_db341236-9111-41f4-856b-89e1c573329f.pdf
Interim / Quarterly Report
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15 August 2022
2022 Interim Result Property Compendium
The GPT Group (“ GPT ”) provides its 2022 Interim 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
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Interim Result 2022
Contents
3 Office Logistics 58 Retail 74
Queen & Collins, Melbourne
THE GPT GROUP | 2022 INTERIM RESULT PROPERTY COMPENDIUM
Office Portfolio
Interim Result 2022
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 30 June 2022
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 51,700 sqm Retail 1,600 sqm Car Parking Spaces 372 Typical Floor Plate 1,030 sqm Office Tenant Details Number of Office Tenants 93 WALE (by income) 3.2 years
Current Valuation Fair Value $643.8m Capitalisation Rate 4.83% Valuation Type Independent Office Occupancy Actual 93.9% Including Signed Leases 94.7% Including Heads of Agreement 96.6% Key Tenants Area (sqm) HWL Ebsworth 7,230 Dexus 4,420
Lease Expiry Profile (by Income)
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26%
22%
16%
11%
8% 8%
7%
1%
0% 0% 0%
2H 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032+
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Sustainability
| Sustainability | |
|---|---|
| NABERS Rating Tower Plaza Energy rating (including GreenPower) 5.0 6.0 Energy rating (excluding GreenPower) 5.0 5.5 Water rating 4.0 5.0 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 30 June 2022.
5
THE GPT GROUP | 2022 INTERIM RESULT PROPERTY COMPENDIUM
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 30 June 2022
| General | |
|---|---|
| Ownership Interest | 50% GPT |
| Co-Owner | 50% Charter Hall Offce 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 | |
| Offce | 73,400 sqm |
| Retail | 500 sqm |
| Car Parking Spaces | 270 |
| Typical Floor Plate | 1,770 sqm |
| Offce Tenant Details | |
| Number of Offce Tenants | 25 |
| WALE (by income) | 3.9 years |
| Current Valuation | |
|---|---|
| Fair Value Capitalisation Rate Valuation Type Offce Occupancy |
$859.2m 4.50% Internal |
| Actual Including Signed Leases Including Heads of Agreement Key Tenants |
84.5% 91.6% 92.1% |
| Amazon Web Services Citibank |
Area(sqm) |
| 25,370 13,280 |
Lease Expiry Profile (by Income)
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42%
27%
18%
7%
4% 3%
0% 0% 0% 0% 0%
2H 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032+
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Sustainability
| Sustainability | |
|---|---|
| NABERS Rating Energy rating (including GreenPower) 5.5 Energy rating (excluding GreenPower) 5.5 Water rating 4.5 Waste rating 3.5 |
Building Certifcations |
| 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 30 June 2022.
7
THE GPT GROUP | 2022 INTERIM RESULT PROPERTY COMPENDIUM
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 30 June 2022
General
Ownership Interest 25% GPT Co-Owners 50% GWOF, 25% AWOF Acquired (by GPT) August 2019 Asset Quality Premium Grade Construction/Refurbishment Tower 1: Completed 1994/Refurbished 2022 Tower 2: Completed 1999/Refurbished 2018 Traditional Custodians
Traditional land of the Gadigal people of the Eora nation
Current Valuation Fair Value $579.3m (25% GPT) Capitalisation Rate DP1: 4.63%, DP2: 4.50% Valuation Type Independent
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Property Details Office Occupancy
Office 101,800 sqm Actual DP1: 100.0%, DP2: 97.6%
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: 97.9%
Typical Floor Plate 1,900 sqm
Office Tenant Details Key Tenants
Number of Office Tenants 12 Area (sqm)
WALE (by Income) DP1: 2.3 years, DP2: 6.4 years CBA 52,170
IAG 30,670
Lease Expiry Profile (by Income)
59%
9%
33% 35%
16%
32% 10%
2% 0% 4% 0% 0%
2H 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032+
DP1 DP2
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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.
additional 16 kilograms of CO2-e per square metre (Scope 1 & 2) beyond |
those required for carbon neutral certifcation. |
|---|---|
| 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 30 June 2022.
9
THE GPT GROUP | 2022 INTERIM RESULT PROPERTY COMPENDIUM
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. The property is situated in close proximity to Parramatta Square, Westfield Parramatta, Parramatta train station and bus interchange.
Key Metrics as at 30 June 2022
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General Current Valuation
Ownership Interest 100% GPT Fair Value $261.0m
Acquired (by GPT) September 2018 Capitalisation Rate 5.13%
Asset Quality A-Grade Valuation Type Independent
Construction/Refurbishment Completed 2012
Traditional Custodians Traditional land of the Burramattagal clan of the
Darug people
Property Details Office Occupancy
Office 25,100 sqm Actual 94.7%
Retail 600 sqm Including Signed Leases 100.0%
Car Parking Spaces 145 Including Heads of Agreement 100.0%
Typical Floor Plate 1,320 sqm
Office Tenant Details Key Tenants
Number of Office Tenants 6 Area (sqm)
WALE (by income) 2.0 years Deloitte 5,290
Government Property NSW 3,970
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Lease Expiry Profile (by Income)
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47%
17%
13% 11%
0% 5% 3% 0% 5% 0% 0%
2H 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032+
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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 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 30 June 2022.
11
THE GPT GROUP | 2022 INTERIM RESULT PROPERTY COMPENDIUM
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 30 June 2022
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 26,900 sqm Retail 300 sqm Car Parking Spaces 110 Typical Floor Plate 1,350 sqm Office Tenant Details Number of Office Tenants 8 WALE (by income) 8.0 years
Current Valuation Fair Value $352.5m Capitalisation Rate 5.00% Valuation Type Independent Office Occupancy Actual 81.7% Including Signed Leases 81.7% Including Heads of Agreement 83.9% Key Tenants Area (sqm) QBE 13,620 Space&Co 2,050
Lease Expiry Profile (by Income)
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72%
14%
0% 1% 0% 0% 2% 0% 6% 5% 0%
2H 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032+
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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 last reporting year.
13
THE GPT GROUP | 2022 INTERIM RESULT PROPERTY COMPENDIUM
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 30 June 2022
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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 Internal
Construction/Refurbishment Completed 2018
Traditional Custodians Traditional land of the Wanngal people
Property Details Office Occupancy
Office 15,600 sqm Actual 100.0%
Retail 100 sqm Including Signed Leases 100.0%
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) 7.0 years NSW Rural Fire Service 9,290
Toyota 2,530
Lease Expiry Profile (by Income)
65%
22%
11%
0% 2% 0% 0% 0% 0% 0% 0%
2H 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032+
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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 Energy rating (including GreenPower) 6.0 Energy rating (excluding GreenPower) 5.5 Water rating 5.5 Waste rating 1.5 |
Building Certifcations |
|---|---|
| Climate Active Carbon Neutral certifed Green Star Performance – Green Star Design & As Built 5 Star (Design) |
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 30 June 2022.
15
THE GPT GROUP | 2022 INTERIM RESULT PROPERTY COMPENDIUM
OFFICE PORTFOLIO
62 Northbourne Avenue
Canberra
62 Northbourne Avenue, Canberra
62 Northbourne Avenue comprises six levels of office accommodation with central atrium providing natural sunlight. The property is located on the eastern side Northbourne Avenue, a major thoroughfare in Canberra’s CBD and has additional frontage to Mort Street at the rear.
Key Metrics as at 30 June 2022
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 $80.5m Capitalisation Rate 5.25% Valuation Type Independent
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) 4.0 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)
100%
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0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
2H 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032+
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Sustainability
NABERS Rating
Building Certifications
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: No sustainability data reported as the asset was acquired during the last reporting year. Ratings are as at 30 June 2022.
OFFICE PORTFOLIO 17
THE GPT GROUP | 2022 INTERIM RESULT PROPERTY COMPENDIUM
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 30 June 2022
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 | $802.7m | |
| Capitalisation Rate | 4.88% | |
| Valuation Type | Internal |
| Property Details | |
|---|---|
| Offce | 65,800 sqm |
| Retail | 40 sqm |
| Car Parking Spaces | 0 |
| Typical Floor Plate | 1,480 sqm |
| Offce Tenant Details | |
| Number of Offce Tenants | 49 |
| WALE (by income) | 4.7 years |
| Offce Occupancy | |
|---|---|
| Actual Including Signed Leases Including Heads of Agreement Key Tenants |
94.3% 94.6% 95.0% |
| Members Equity Bank Allianz |
Area(sqm) |
| 13,680 7,800 |
Lease Expiry Profile (by Income)
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23%
16%
14%
12%
9%
6% 7%
5%
4%
3%
0%
2H 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032+
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Sustainability
| Sustainability | |
|---|---|
| NABERS Rating Energy rating (including GreenPower) 5.0 Energy rating (excluding GreenPower) 5.0 Water rating 5.5 Waste rating NR |
Building Certifcations |
| Climate Active Carbon Neutral – 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 30 June 2022.
19
THE GPT GROUP | 2022 INTERIM RESULT PROPERTY COMPENDIUM
OFFICE PORTFOLIO
181 William & 550 Bourke Streets Melbourne
181 William & 550 Bourke Streets, Melbourne
181 William Street & 550 Bourke Street are located in the core of Melbourne’s CBD. 181 William Street is a 26 level office tower, 550 Bourke Street is a 19 level office tower and Goldsbrough Village is a retail precinct comprising an undercover retail plaza and laneway which provides pedestrian access between the two office towers.
Key Metrics as at 30 June 2022
General
Ownership Interest 50% GPT Co-Owner 50% GWOF Acquired (by GPT) October 2014 Asset Quality A-Grade Construction/Refurbishment Completed 2009/Refurbished 2020 (550 Bourke Street) and 2022 (181 William Street) Traditional Custodians Traditional land of the Wurundjeri people Property Details Office 76,100 sqm Retail 5,200 sqm Car Parking Spaces 413 Typical Floor Plate 181 William: 1,920 sqm, 550 Bourke: 1,510 sqm Office Tenant Details Number of Office Tenants 14 WALE (by income) 5.4 years
| Current Valuation | |
|---|---|
| Fair Value Capitalisation Rate Valuation Type Offce Occupancy |
$465.5m (50% GPT) 4.88% Independent |
| Actual Including Signed Leases Including Heads of Agreement Key Tenants |
71.5% 76.8% 80.6% |
| IAG State of Victoria |
Area(sqm) |
| 17,120 12,280 |
Lease Expiry Profile (by Income)
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24%
22%
11% 12%
5% 6% 5% 7% 6%
2%
0%
2H 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032+
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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 30 June 2022.
21
THE GPT GROUP | 2022 INTERIM RESULT PROPERTY COMPENDIUM
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 30 June 2022
| 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 Yuggera people Property Details Offce 63,700 sqm Retail 400 sqm Car Parking Spaces 114 Typical Floor Plate 1,450 sqm Offce Tenant Details Number of Offce Tenants 28 WALE (by income) 4.0 years |
Current Valuation | |
|---|---|---|
| Fair Value Capitalisation Rate Valuation Type Offce Occupancy |
$322.0m (33.33% GPT) 4.88% Independent |
|
| Actual Including Signed Leases Including Heads of Agreement Key Tenants |
95.6% 97.1% 97.7% |
|
| EY ANZ |
Area(sqm) | |
| 7,500 7,130 |
Lease Expiry Profile (by Income)
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33%
24%
13%
11%
9%
6%
4%
0% 0% 0% 0%
2H 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032+
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Sustainability
One One One Eagle Street is certified carbon neutral using the NABERS verification pathway of Climate Active for Buildings, in alignment with the international Greenhouse Gas Protocol.
In 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.
additional 19 kilograms of CO2-e per square metre (Scope 1 & 2) beyond |
those required for carbon neutral certifcation. |
|---|---|
| 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 30 June 2022.
23
THE GPT GROUP | 2022 INTERIM RESULT PROPERTY COMPENDIUM
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 30 June 2022
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General Current Valuation
Ownership Interest 50% GWOF Fair Value $796.9m
Co-Owner 50% ISPT Capitalisation Rate 4.38%
Acquired (by GWOF) April 2010 Valuation Type Internal
Asset Quality Premium Grade
Construction/Refurbishment Completed 2013
Traditional Custodians Traditional land of the Gadigal people of the
Eora nation
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 97.1%
Typical Floor Plate 1,630 sqm
Office Tenant Details Key Tenants
Number of Office Tenants 12 Area (sqm)
WALE (by income) 7.0 years ANZ 22,600
Herbert Smith Freehills 15,560
Lease Expiry Profile (by Income)
41%
28%
12%
9%
6%
4%
0% 0% 0% 0% 0%
2H 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032+
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Sustainability
Liberty Place is certified carbon neutral using the NABERS verification pathway of Climate Active for Buildings, in alignment with the international Greenhouse Gas Protocol.
In 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 3.5 |
Building Certifcations |
|---|---|
| Climate Active Carbon Neutral certifed Green Star Performance 6 Star 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 30 June 2022.
OFFICE PORTFOLIO 25
THE GPT GROUP | 2022 INTERIM RESULT PROPERTY COMPENDIUM
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 30 June 2022
| General Ownership Interest 100% GWOF Acquired (by GWOF) July 2006 Asset Quality Premium Grade Construction/Refurbishment Completed 2005/Refurbished 2017 Traditional Custodians Traditional land of the Gadigal people of the Eora nation Property Details Offce 29,800 sqm Retail 30 sqm Car Parking Spaces 137 Typical Floor Plate 1,500 sqm Offce Tenant Details Number of Offce Tenants 6 WALE (by income) 4.1 years |
Current Valuation | |
|---|---|---|
| Fair Value Capitalisation Rate Valuation Type Offce Occupancy |
$613.0m 4.63% Independent |
|
| Actual Including Signed Leases Including Heads of Agreement Key Tenants |
95.0% 95.0% 95.0% |
|
| Rabobank NTT |
Area(sqm) | |
| 7,560 7,470 |
Lease Expiry Profile (by Income)
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29%
25% 25%
13%
5%
2%
0% 0% 0% 0% 0%
2H 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032+
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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 Energy rating (including GreenPower) 6.0 Energy rating (excluding GreenPower) 5.5 Water rating 5.0 Waste rating 2.5 |
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 30 June 2022.
27
THE GPT GROUP | 2022 INTERIM RESULT PROPERTY COMPENDIUM
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 30 June 2022
| 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 Offce 37,100 sqm Retail 4,300 sqm Car Parking Spaces 141 Typical Floor Plate 1,300 sqm Offce Tenant Details Number of Offce Tenants 27 WALE (by income) 3.6 years |
Current Valuation | |
|---|---|---|
| Fair Value Capitalisation Rate Valuation Type Offce Occupancy |
$681.6m 4.88% Internal |
|
| Actual Including Signed Leases Including Heads of Agreement Key Tenants |
100.0% 100.0% 100.0% |
|
| Uber ELMO Software |
Area(sqm) | |
| 3,890 3,830 |
Lease Expiry Profile (by Income)
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24%
23%
17% 16%
11%
8%
2%
0% 0% 0% 0%
2H 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 3.0 |
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 30 June 2022.
29
THE GPT GROUP | 2022 INTERIM RESULT PROPERTY COMPENDIUM
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 30 June 2022
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----- Start of picture text -----
General Current Valuation
Ownership Interest 100% GWOF Fair Value $355.3m
Acquired (by GWOF) December 2007 Capitalisation Rate 4.63%
Asset Quality A-Grade Valuation Type Internal
Construction/Refurbishment Completed 2008
Traditional Custodians Traditional land of the Gadigal people of the
Eora nation
Property Details Office Occupancy
Office 16,300 sqm Actual 100.0%
Retail 1,900 sqm Including Signed Leases 100.0%
Car Parking Spaces 135 Including Heads of Agreement 100.0%
Typical Floor Plate 3,620 sqm
Office Tenant Details Key Tenants
Number of Office Tenants 1 Area (sqm)
WALE (by income) 6.4 years Google 16,300
Lease Expiry Profile (by Income)
100%
0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
2H 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 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 30 June 2022.
OFFICE PORTFOLIO 31
THE GPT GROUP | 2022 INTERIM RESULT PROPERTY COMPENDIUM
155 Walker Street North Sydney
155 Walker Street, North Sydney
Located in North Sydney, the site comprises of two existing office buildings at 157 Walker Street which settled in June 2022 and 153 Walker Street structured under a deferred settlement due to occur in 2024. The amalgamated site is approximately 1,930 sqm in a prime North Sydney location and provides the opportunity to create a new Prime Grade office tower of over 45,000 sqm dependent on planning outcomes.
The site benefits from view corridors to the harbour and CBD and is a 2 minute walk from the metro station and a 5 minute walk from the existing North Sydney train station. The Victoria Cross metro station (due to open in 2024) is expected to offer a travel time of 5 minutes to Martin Place in the Sydney CBD.
Key Metrics as at 30 June 2022
General
Ownership Interest 100% GWOF Acquired (by GWOF) June 2022, additional settlement to occur in 2024 Asset Quality B-Grade office (future office development site) Construction/Refurbishment 153 Walker St: Completed in 1973, refurbished in 2017 157 Walker St: Completed in 1971, refurbished in 2020 Traditional Custodians Traditional land of the Cammeraygal people
Current Valuation
Fair Value[1] $125.5m Valuation Type Independent
155 Walker Street is held for future development so is not included in portfolio occupancy metrics.
Sustainability
NABERS Rating Energy rating (including GreenPower) 3.0 Energy rating (excluding GreenPower) 3.0 Water rating 3.5 Waste rating 1.0
Building Certifications
| Building Certifcations | |
|---|---|
| Climate Active Carbon Neutral | – |
| Green Star Performance | – |
| Green Star Design & As Built | – |
No sustainability data reported due to the asset being held for redevelopment. NABERS ratings are for 157 Walker Street, the existing building held for redevelopment.
Note: Artist’s impression of proposed future development site used in both images. 1. The fair value reflects the value of 157 Walker Street.
33
THE GPT GROUP | 2022 INTERIM RESULT PROPERTY COMPENDIUM
OFFICE PORTFOLIO
81 George Street
Parramatta
81 George Street, Parramatta
Located in the Parramatta CBD, the site consists of multiple adjoining lots totalling approximately 3,060 sqm. 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 47,000sqm, and when combined with 91 George Street, the collective scheme provides a future pipeline of approximately 125,000sqm across a multistage development.
Key Metrics as at 30 June 2022
General
Ownership Interest 100% GWOF Acquired (by GWOF) December 2021, January 2022, March 2022, May 2022, final settlement to occur in 2H 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] $70.0m Valuation Type Independent
pancy
81 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. 1. The valuation of 81 George Street, Parramatta reflects 100% of the site value including the value of an outstanding lot yet to settle. As at 30 June 2022, the fair value of 81 George Street, Parramatta is $64.6m.
35
THE GPT GROUP | 2022 INTERIM RESULT PROPERTY COMPENDIUM
OFFICE PORTFOLIO
91 George Street
Parramatta
91 George Street, Parramatta
Located within the Parramatta CBD the site consists of multiple adjoining lots. 87-89 George Street existing improvements comprise 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 Lot 1 and 2 of 85 George Street, a historic sandstone cottage and heritage stables.
The site represents a future development opportunity for the fund of approximately 70,000 sqm, and when combined with 81 George Street, the collective scheme provides a future pipeline of approximately 125,000 sqm across a multi stage development.
Key Metrics as at 30 June 2022
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 $83.8m Valuation Type Independent
pancy
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.
OFFICE PORTFOLIO 37
THE GPT GROUP | 2022 INTERIM RESULT PROPERTY COMPENDIUM
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 30 June 2022
| 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 Wurundjeri people Property Details Offce 53,900 sqm Retail 800 sqm Car Parking Spaces 537 Typical Floor Plate 1,860 sqm Offce Tenant Details Number of Offce Tenants 28 WALE (by income) 4.9 years |
Current Valuation | |
|---|---|---|
| Fair Value Capitalisation Rate Valuation Type Offce Occupancy |
$735.0m 4.75% Independent |
|
| Actual Including Signed Leases Including Heads of Agreement Key Tenants |
87.7% 91.4% 92.7% |
|
| Ausnet Services CUB |
Area(sqm) | |
| 7,690 6,390 |
Lease Expiry Profile (by Income)
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21%
16% 17% 16%
11%
8%
4% 4%
2% 2%
0%
2H 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032+
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Sustainability
2 Southbank Boulevard is certified carbon neutral using the NABERS verification pathway of Climate Active for Buildings, in alignment with the international Greenhouse Gas Protocol.
In 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 30 June 2022.
OFFICE PORTFOLIO 39
THE GPT GROUP | 2022 INTERIM RESULT PROPERTY COMPENDIUM
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 30 June 2022
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General Current Valuation
Ownership Interest 50% GWOF Fair Value $331.5m
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 93.7%
Retail 100 sqm Including Signed Leases 94.3%
Car Parking Spaces 0 Including Heads of Agreement 94.3%
Typical Floor Plate 1,620 sqm
Office Tenant Details Key Tenants
Number of Office Tenants 20 Area (sqm)
WALE (by income) 3.4 years EY 14,940
Amazon Web Services 4,860
Lease Expiry Profile (by Income)
37%
19%
14% 14%
8%
5%
0% 2% 0% 0% 0%
2H 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032+
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Sustainability
8 Exhibition Street is certified carbon neutral using the NABERS verification pathway of Climate Active for Buildings, in alignment with the international Greenhouse Gas Protocol.
In 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 4.5 Waste rating 2.5 |
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 30 June 2022.
OFFICE PORTFOLIO 41
THE GPT GROUP | 2022 INTERIM RESULT PROPERTY COMPENDIUM
51 Flinders Lane Melbourne
51 Flinders Lane, Melbourne
51 Flinders Lane is a new office development with completion expected in late 2025. The project will incorporate 28,300 sqm of prime office space and a 1,200 sqm 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 30 June 2022
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 $101.5m Valuation Type Independent
pancy
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.
OFFICE PORTFOLIO 43
THE GPT GROUP | 2022 INTERIM RESULT PROPERTY COMPENDIUM
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 30 June 2022
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
Property Details Office 33,600 sqm Retail 1,200 sqm Car Parking Spaces 56 Typical Floor Plate Podium: 1,320 sqm, Tower: 910 sqm Office Tenant Details Number of Office Tenants 8 WALE (by income) 6.0 years
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----- Start of picture text -----
Current Valuation
Fair Value $518.7m
Capitalisation Rate 4.63%
Valuation Type Internal
Office Occupancy
Actual 39.0%
Including Signed Leases 50.4%
Including Heads of Agreement 66.9%
Key Tenants
Area (sqm)
Afterpay 4,800
Cornwalls 2,080
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Lease Expiry Profile (by Income)
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40%
29%
12%
6% 5% 7%
0% 1% 0% 0% 0%
2H 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032+
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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.
45
THE GPT GROUP | 2022 INTERIM RESULT PROPERTY COMPENDIUM
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 30 June 2022
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----- Start of picture text -----
General Current Valuation
Ownership Interest 100% GWOF Fair Value $274.3m
Acquired (by GWOF) July 2012 Capitalisation Rate 4.63%
Asset Quality A-Grade Valuation Type Internal
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) 4.0 years Westpac Group 14,600
VECCI 2,800
Lease Expiry Profile (by Income)
78%
15%
0% 5% 2% 0% 0% 0% 0% 0% 0%
2H 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032+
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Sustainability
150 Collins Street is certified carbon neutral using the NABERS verification pathway of Climate Active for Buildings, in alignment with the international Greenhouse Gas Protocol.
In 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 30 June 2022.
47
THE GPT GROUP | 2022 INTERIM RESULT PROPERTY COMPENDIUM
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 30 June 2022
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----- Start of picture text -----
General Current Valuation
Ownership Interest 100% GWOF Fair Value $819.7m
Acquired (by GWOF) July 2006 Capitalisation Rate 4.75%
Asset Quality Premium Grade Valuation Type Internal
Construction/Refurbishment Completed 1991/Refurbished 2009 and 2021
Traditional Custodians Traditional land of the Wurundjeri people
Property Details Office Occupancy
Office 65,100 sqm Actual 76.9%
Retail 1,800 sqm Including Signed Leases 77.8%
Car Parking Spaces 304 Including Heads of Agreement 79.0%
Typical Floor Plate Podium: 3,510 sqm, Tower: 1,260 sqm
Office Tenant Details Key Tenants
Number of Office Tenants 25 Area (sqm)
WALE (by income) 4.8 years Suncorp 14,230
Mills Oakley 5,390
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Lease Expiry Profile (by Income)
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----- Start of picture text -----
27%
25%
12%
10% 9%
6% 5%
3% 1% 0% 2%
2H 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032+
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Sustainability
530 Collins Street is certified carbon neutral using the NABERS verification pathway of Climate Active for Buildings, in alignment with the international Greenhouse Gas Protocol.
In 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 30 June 2022.
49
THE GPT GROUP | 2022 INTERIM RESULT PROPERTY COMPENDIUM
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 30 June 2022
General Current Valuation Ownership Interest 100% GWOF Fair Value $179.1m Acquired (by GWOF) May 2014 Capitalisation Rate 4.75% Asset Quality A-Grade Valuation Type Internal Construction/Refurbishment Completed 2009 Traditional Custodians Traditional land of the Wurundjeri people Property Details Office Occupancy Office 16,600 sqm Actual 100.0% Retail N/A Including Signed Leases 100.0% Car Parking Spaces 89 Including Heads of Agreement 100.0% Typical Floor Plate 2,500 sqm Office Tenant Details Key Tenants Number of Office Tenants 1 Area (sqm) WALE (by income) 7.4 years Nine 16,600 Lease Expiry Profile (by Income) 100% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 2H 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032+
Lease Expiry Profile (by Income)
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.
additional 11 kilograms of CO2-e per square metre (Scope 1 & 2) beyond |
those required for carbon neutral certifcation. |
|---|---|
| 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 30 June 2022.
51
THE GPT GROUP | 2022 INTERIM RESULT PROPERTY COMPENDIUM
OFFICE PORTFOLIO
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 30 June 2022
| 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 Offce 41,400 sqm Retail N/A Car Parking Spaces 422 Typical Floor Plate 5,660 sqm Offce Tenant Details Number of Offce Tenants 1 WALE (by income) 13.3 years |
Current Valuation | |
|---|---|---|
| Fair Value Capitalisation Rate Valuation Type Offce Occupancy |
$528.0m 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)
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100%
0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
2H 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032+
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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.
53
THE GPT GROUP | 2022 INTERIM RESULT PROPERTY COMPENDIUM
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 30 June 2022
| 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 Offce 60,000 sqm Retail 1,300 sqm Car Parking Spaces 416 Typical Floor Plate 3,500 sqm Offce Tenant Details Number of Offce Tenants 2 WALE (by income) 7.0 years |
Current Valuation | |
|---|---|---|
| Fair Value Capitalisation Rate Valuation Type Offce Occupancy |
$632.0m 4.75% Internal |
|
| Actual Including Signed Leases Including Heads of Agreement Key Tenants |
100.0% 100.0% 100.0% |
|
| NAB Commonwealth of Australia |
Area(sqm) | |
| 35,300 24,730 |
Lease Expiry Profile (by Income)
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----- Start of picture text -----
60%
40%
0% 0% 0% 0% 0% 0% 0% 0% 0%
2H 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032+
----- End of picture text -----
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 Energy rating (including GreenPower) 6.0 Energy rating (excluding GreenPower) 5.5 Water rating 6.0 Waste rating NR |
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 30 June 2022.
55
THE GPT GROUP | 2022 INTERIM RESULT PROPERTY COMPENDIUM
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 30 June 2022
| 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 Yuggera people Property Details Offce 51,200 sqm Retail 4,500 sqm Car Parking Spaces 497 Typical Floor Plate 1,500 sqm Offce Tenant Details Number of Offce Tenants 43 WALE (by income) 5.5 years |
Current Valuation | |
|---|---|---|
| Fair Value Capitalisation Rate Valuation Type Offce Occupancy |
$797.0m 5.00% Independent |
|
| Actual Including Signed Leases Including Heads of Agreement Key Tenants |
97.6% 97.6% 97.6% |
|
| Deloitte Westpac Group |
Area(sqm) | |
| 7,890 6,720 |
Lease Expiry Profile (by Income)
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27%
23%
17%
10%
7% 8%
2% 3% 2%
1% 0%
2H 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032+
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Sustainability
Riverside Centre is certified carbon neutral using the NABERS verification pathway of Climate Active for Buildings, in alignment with the international Greenhouse Gas Protocol.
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 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 30 June 2022.
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THE GPT GROUP | 2022 INTERIM RESULT PROPERTY COMPENDIUM
OFFICE PORTFOLIO
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Logistics Portfolio
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Interim Result 2022
New South Wales
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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 11Silverwater10 A3 A40 A1
13 Smithfield 12
M12 Wetherill 14 Yennora A6
M7 Park A4
Badgerys 15 Villawood A22 Sydney
Creek A22 A22
A9 Western A28 Chullora A36 CBD
Sydney Airport A34 M1
(planned) A34 A6 16 Kingsgrove M8
M5
Sydney
City centres Planned Motorway Airport
A9
8 Minto Arterial roads Airport Port
Port of
Motorways West Connex Sydney
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-
1 Erskine Park (7 assets)
-
9 Rosehill Business Park, Camellia
-
10 4 Holker Street, Newington
-
2 Eastern Creek (3 assets)
-
3 128 Andrews Road, Penrith
-
11 83 Derby Street, Silverwater
-
12 Sydney Olympic Park (4 assets)
-
4 Huntingwood Drive, Huntingwood (2 assets)
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13 372-374 Victoria Street, Wetherill Park
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5 42 Cox Place, Glendenning
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14 Pine Road, Yennora (2 assets)
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6 30-32 Bessemer Street, Blacktown
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15 64 Biloela Street, Villawood
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7 18-24 Abbott Road, Seven Hills
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16 104 Vanessa Street, Kingsgrove
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8 407 Pembroke Road, Minto
Note: 21 Pipeclay Avenue, Thornton not shown.
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50 Old Wallgrove Road, Eastern Creek
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42 Cox Place, Glendenning
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1B Huntingwood Drive, Huntingwood
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THE GPT GROUP | 2022 INTERIM RESULT PROPERTY COMPENDIUM
LOGISTICS PORTFOLIO
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Property Details Current Valuation Logistics Occupancy (By Area)
Inc. Inc. WALE
GPT Site 30 Jun 22 30 Jun 22 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 8.0 141.6 4.25 Independent 100.0 100.0 100.0 0.9 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 49.0 4.00 Independent 100.0 100.0 100.0 5.3 Pact Group 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 Internal 100.0 100.0 100.0 2.6 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 Internal 100.0 100.0 100.0 4.6 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 82.4 4.00 Independent 100.0 100.0 100.0 7.0 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 6.2 149.5 3.88 Independent 100.0 100.0 100.0 12.6 Scott's Developed by GPT in 2015, the modern warehouse/office facility is
Refrigerated located in the core market of Erskine Park. The site benefits from its
Logistics close proximity to the M4/M7 Motorway Interchange.
54-70 Templar Road 100 Jun 2008 21,000 4.3 207.6 3.88 Independent 100.0 100.0 100.0 13.0 Coles Group 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 12,800 2.3 41.2 3.75 Independent 100.0 100.0 100.0 4.6 Flexible Logistics 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 8.8 150.0 3.88 Independent 100.0 100.0 100.0 7.5 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 9.2 129.2 3.88 Independent 100.0 100.0 100.0 8.1 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 12.1 107.5 4.00 Independent 100.0 100.0 100.0 8.2 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.
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THE GPT GROUP | 2022 INTERIM RESULT PROPERTY COMPENDIUM
LOGISTICS PORTFOLIO
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Property Details Current Valuation Logistics Occupancy (By Area)
Inc. Inc. WALE
GPT Site 30 Jun 22 30 Jun 22 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 55.5 4.00 Independent 100.0 100.0 100.0 8.7 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 15,400 4.6 45.5 (50%) 4.00 Internal 100.0 100.0 100.0 2.4 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 Internal 100.0 100.0 100.0 4.3 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 Internal 100.0 100.0 100.0 3.5 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 11,200 2.1 55.4 N/A Internal 36.9 36.9 36.9 0.1 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 use
Association redevelopment opportunities being located directly adjacent the
future Sydney Olympic Park Metro Station.
Quad 1 100 Jun 2001 4,700 0.9 32.1 5.75 Internal 82.7 86.2 86.2 2.4 Property NSW, High quality office facility located at 8 Parkview Drive within the
Herbalife integrated office precinct of Sydney Olympic Park. Situated close
Australasia to significant infrastructure and public recreational amenities, the
asset currently holds a 5.5 star NABERS Energy rating and a 4.5
star NABERS Water rating.
Quad 4 100 Jun 2004 7,600 0.8 60.4 5.25 Internal 100.0 100.0 100.0 8.3 ACPE, Balanced High quality office facility located at 10 Parkview Drive, within the
Investment Group integrated office precinct of Sydney Olympic Park. Situated close to
significant 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 July 2006 20,500 4.1 41.5 4.75 Independent 100.0 100.0 100.0 2.7 Infrabuild Warehouse/office facility located in the inner market of
Wetherill Park. The site benefits from its close proximity to the
Cumberland Highway.
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- Site area and fair value excludes development land.
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THE GPT GROUP | 2022 INTERIM RESULT PROPERTY COMPENDIUM
LOGISTICS PORTFOLIO
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Property Details Current Valuation Logistics Occupancy (By Area)
Inc. Inc. WALE
GPT Site 30 Jun 22 30 Jun 22 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
Yennora Traditional land of the Darug people
38 Pine Road 100 Nov 2013 33,800 7.4 91.2 4.25 Independent 100.0 100.0 100.0 0.7 Schenker Two modern warehouse/office facilities connected by an integrated
Australia 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 16.4 4.25 Independent 100.0 100.0 100.0 2.7 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.
Seven Hills Traditional land of the Darug people
18-24 Abbott Road 100 Oct 2006 18,100 4.0 55.0 4.00 Internal 100.0 100.0 100.0 2.2 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 Internal 100.0 100.0 100.0 5.1 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 Internal 100.0 100.0 100.0 1.2 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 34.1 3.75 Internal 100.0 100.0 100.0 8.1 Disability Services The warehouse/office facility is located in the inner market of
Australia Kingsgrove. The site benefits from its close proximity to the
M5 Motorway.
Villawood Traditional land of the Darug people
64 Biloela Street 100 May 2019 23,300 3.8 50.5 4.75 Independent 100.0 100.0 100.0 5.0 Pact Group Production/warehouse facility located in the inner market 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 49.0 4.50 Independent 100.0 100.0 100.0 3.5 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 4.2 4.38 Independent 100.0 100.0 100.0 8.3 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.
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THE GPT GROUP | 2022 INTERIM RESULT PROPERTY COMPENDIUM
LOGISTICS PORTFOLIO
Victoria
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A58 1 A58
Melbourne A39
Airport CampbellfieldM31
City centre
A35
A55
M2 M80 A46 Arterial roads
M79
A40
M80 A45 A27 Motorways
A41 M79 Airport
A40
M80 A35 A40 Port
M2
M8
C702 Derrimut Sunshine Doncaster
M3
A35
6 M80 4
9 7 10 A83 2 3 Melbourne A34
CBD Box Hill
Truganina 8
5
Port of A24 A26
Melbourne M1
M1 A23 Glen Waverley
M3
11
Brighton
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7 Truganina (6 assets)
8 Laverton North (2 assets)
9 1 Hurst Drive, Tarneit
1 Austrak Business Park, Somerton
2 21-23 Wirraway Drive, Port Melbourne
3 Citiport Business Park, Port Melbourne
4 Sunshine Business Estate, Sunshine
5 Citiwest Industrial Estate, Altona North
6 Derrimut (2 assets)
10 521 Geelong Road, Brooklyn 11 16 Henderson Road, Knoxfield
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1 Botero Place, Truganina
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21 Shiny Drive, Gateway Logistics Hub, Truganina
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25 Niton Drive, Gateway Logistics Hub, Truganina
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THE GPT GROUP | 2022 INTERIM RESULT PROPERTY COMPENDIUM
LOGISTICS PORTFOLIO
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Property Details Current Valuation Logistics Occupancy (By Area)
Inc. Inc. WALE
GPT Site 30 Jun 22 30 Jun 22 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 27,000 2.5 118.4 4.75 Internal 93.3 93.3 93.3 2.7 Elbit Systems Located in the inner market of Port Melbourne, Citiport
of Australia, provides for a range of logistics and office occupiers. The site
Chef's Hat 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 Internal 100.0 100.0 100.0 3.5 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 20.2 154.5 4.25 Internal 100.0 100.0 100.0 2.9 Super Retail The estate comprises six warehouse/office facilities leased to a
Group Services, 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 Wurundjeri people
Sunshine Business Estate 100 Jan 2018 52,800 8.9 108.0 4.00 Internal 100.0 100.0 100.0 4.5 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 52.5 N/A Independent 100.0 100.0 100.0 6.8 Tasman Logistics The site currently accommodates a warehouse/office facility
Service and 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 Road 100 Nov 2018 10,700 1.9 19.0 4.00 Internal 100.0 100.0 100.0 3.5 Mesh & Bar Modern warehouse/office facility located in the core market
of Derrimut. The site benefits from its close proximity to the
Western Ring Road.
40 Fulton Drive 100 Nov 2021 6,500 2.1 17.6 3.75 Independent 100.0 100.0 100.0 8.3 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 Internal 100.0 100.0 100.0 4.0 Godfrey Hirst, Developed by GPT in 2019, the modern warehouse/office facility
Petstock 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 51.9 4.00 Independent 100.0 100.0 100.0 4.5 DHL 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.
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THE GPT GROUP | 2022 INTERIM RESULT PROPERTY COMPENDIUM
LOGISTICS PORTFOLIO
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Property Details Current Valuation Logistics Occupancy (By Area)
Inc. Inc. WALE
GPT Site 30 Jun 22 30 Jun 22 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
25 Niton Drive 100 Jul 2019 29,800 4.5 62.3 4.00 Independent 100.0 100.0 100.0 4.2 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.
1 Botero Place 100 May 2020 23,800 4.9 57.0 3.75 Independent 100.0 100.0 100.0 7.9 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 9.4 148.5 3.75 Independent 100.0 100.0 100.0 6.6 Couriers Please, The estate comprises five modern warehouse/office tenancies
Laverton Cold located in the core market of Truganina. The site benefits from
Storage its close proximity to the Western Ring Road. Development of
a 10,700sqm facility on adjoining land has reached practical
completion in July 2022.
399 Boundary Road 100 Dec 2018 11,900 2.4 27.0 3.75 Internal 100.0 100.0 100.0 6.7 Krueger Transport Modern warehouse/office facility located in the core market
Equipment of Truganina. The site benefits from its close proximity to the
Western Ring Road.
Tarneit Traditional land of the Bunurong people
1 Hurst Drive 50.1 Apr 2021 70,100 11.4 76.9 (50.1%) 3.63 Independent 100.0 100.0 100.0 10.0 vidaXL Purpose built for vidaXL, this facility reached practical completion
in 2022. Located in Tarneit in Melbourne’s West, the site benefits
from its close proximity to the Western Ring Road.
Laverton North Traditional land of the Bunurong people
235-239 Boundary Road 100 Aug 2021 33,500 5.7 76.3 3.75 Independent 100.0 100.0 100.0 4.0 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 48.5 3.63 Independent 100.0 100.0 100.0 16.2 Probiotec Pharma Purpose built medical grade and warehousing facilities
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 34.3 3.75 Independent 100.0 100.0 100.0 10.3 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 63.4 255.5 (50%) 4.00 Internal 92.2 92.2 92.2 3.8 Coles Group, The business park comprises seven modern warehouse/logistics
Linfox facilities, leased to various national operators and an intermodal
rail terminal. It is located in the core market of Somerton.
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- Site area and fair value excludes development land.
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THE GPT GROUP | 2022 INTERIM RESULT PROPERTY COMPENDIUM
LOGISTICS PORTFOLIO
Queensland
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Brisbane
Airport
City centre M1 Port of Brisbane
A3
Arterial roads M7
Motorways
M4
Murarrie
Airport Brisbane 6 5 Tingalpa
CBD
Port
M5 M1
A7
M3
A17
M7
Wacol
M2 1
Wulkuraka M2
8 7 Bundamba Springwood
M2 2 3
Berrinba
A5 M6
Crestmead 4
M1
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-
1 Wacol (2 assets)
-
5 248 Fleming Road, Tingalpa 6 48 Miller Street, Murarrie
-
2 59 Forest Way, Karawatha
-
3 Berrinba (3 assets)
-
7 18 Gorrick Court, Bundamba 8 4 Enterprise Street, Wulkuraka
-
4 102-108 Magnesium Drive, Crestmead
Note: 15 Northern Link Circuit, Townsville and 2-8 Ridley Close, Cairns not shown.
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18 Gorrick Court, Bundamba
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100 Metroplex Place, Wacol
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2 Ironbark Close, Wembley Business Park, Berrinba
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Property Details Current Valuation Logistics Occupancy (By Area)
Inc. Inc. WALE
GPT Site 30 Jun 22 30 Jun 22 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 Internal 100.0 100.0 100.0 6.7 Toll Developed by GPT in 2014, the purpose built distribution centre is
located in a core market and benefits from its close proximity to the
Logan Motorway.
Wacol Traditional land of the Yuggera and Turrbul people
55 Whitelaw Place 100 Dec 2016 5,600 2.1 23.3 4.00 Internal 100.0 100.0 100.0 9.9 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.
100 Metroplex Place 50.1 Mar 2021 17,100 3.5 22.7 (50.1%) 4.25 Independent 100.0 100.0 100.0 4.9 Mainfreight, Developed by GPT in 2022 this asset comprises two modern
Bulk warehouse/office facilities in the core market of Wacol.
Transport
Berrinba
2 Ironbark Close 100 Jun 2015 20,600 4.9 66.3 4.00 Internal 100.0 100.0 100.0 7.7 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 34.8 4.38 Internal 100.0 100.0 100.0 1.3 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 40.5 4.38 Internal 100.0 100.0 100.0 5.0 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 Yuggera and Turrbul people
102-108 Magnesium Drive 100 Nov 2021 8,800 1.8 26.8 3.88 Independent 100.0 100.0 100.0 9.7 Oxworks Modern warehouse/office facility located in the core market
of Crestmead. The site benefits from its close proximity to the
Logan Motorway.
Tingalpa Traditional land of the Yuggera and Turrbul people
248 Fleming Road 100 Nov 2021 5,200 1.0 30.5 4.13 Independent 100.0 100.0 100.0 4.0 Royal Foods Two temperature controlled facilities located in the inner market
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 39.9 4.50 Independent 100.0 100.0 100.0 6.4 Tritium Modern laboratory/warehouse facility located in the inner market
of Murarrie. The site benefits from its close proximity to the
Gateway Motorway.
Bundamba Traditional land of the Yuggera people
18 Gorrick Court 50.1 Nov 2021 12,500 3.6 21.3 (50.1%) 4.00 Independent 100.0 100.0 100.0 5.9 Saab Purpose built for Saab, this facility reached practical completion
in 2022. The asset features two warehouse facilities with an
interconnecting breezeway.
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THE GPT GROUP | 2022 INTERIM RESULT PROPERTY COMPENDIUM
LOGISTICS PORTFOLIO
67
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Property Details Current Valuation Logistics Occupancy (By Area)
Inc. Inc. WALE
GPT Site 30 Jun 22 30 Jun 22 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
Wulkuraka Traditional land of the Yuggera Ugarapul people
4 Enterprise Street 100 Nov 2021 25,900 4.2 118.5 3.50 Independent 100.0 100.0 100.0 19.2 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 30.8 4.38 Independent 100.0 100.0 100.0 9.5 Bega Recently completed, the purpose built temperature controlled
Cheese facility located in Shaw, approximately 15 kilometers from 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 8.3 COPE Modern warehouse/distribution facility located in Edmonton,
Sensitive approximately 12 kilometers from the Cairns CBD.
Freight
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THE GPT GROUP | 2022 INTERIM RESULT PROPERTY COMPENDIUM
LOGISTICS PORTFOLIO
South Australia
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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
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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
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26 Butler Boulevard, Adelaide Airport
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176 Eastern Parade, Gillman
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1A Symonds Street, Royal Park
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THE GPT GROUP | 2022 INTERIM RESULT PROPERTY COMPENDIUM
LOGISTICS PORTFOLIO
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Property Details Current Valuation Logistics Occupancy (By Area)
Inc. Inc. WALE
GPT Site 30 Jun 22 30 Jun 22 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 21.4 4.25 Independent 100.0 100.0 100.0 6.9 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 17.5 4.25 Independent 100.0 100.0 100.0 8.4 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 3.5 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 8.3 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 4.0 GPC Asia Pacific Modern warehouse/office and showroom facility. The site
benefits from its close proximity to the North-South Motorway.
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THE GPT GROUP | 2022 INTERIM RESULT PROPERTY COMPENDIUM
LOGISTICS PORTFOLIO
Western Australia
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3
Wangara 4 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
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1 15 Modal Crescent, Canning Vale
-
2 23 Destiny Way, Wangara
-
3 50 Triumph Avenue, Wangara
4 56 Triumph Avenue, Wangara
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15 Modal Crescent, Canning Vale
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23 Destiny Way, Wangara
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50 Triumph Avenue, Wangara
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THE GPT GROUP | 2022 INTERIM RESULT PROPERTY COMPENDIUM
LOGISTICS PORTFOLIO
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Property Details Current Valuation Logistics Occupancy (By Area)
Inc. Inc. WALE
GPT Site 30 Jun 22 30 Jun 22 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 of the Noongar nation
15 Modal Crescent 100 Nov 2021 9,600 3.1 24.0 4.50 Independent 100.0 100.0 100.0 8.3 COPE Sensitive Modern warehouse/office facility located in the core market
Freight of Canning Vale.
Wangara Traditional land of the Whadjuk people of the Noongar nation
23 Destiny Way 100 Nov 2021 4,600 3.1 25.8 5.25 Independent 100.0 100.0 100.0 2.2 GCS Hire Modern workshop/office facility located in the core market
of Wangara.
50 Triumph Avenue 100 Nov 2021 3,700 0.8 7.5 5.00 Independent 100.0 100.0 100.0 3.5 ContiTech Modern warehouse/office facility located in the core market
Australia of Wangara.
56 Triumph Avenue 100 Nov 2021 2,800 0.6 5.1 5.50 Independent 100.0 100.0 100.0 0.2 Glass Processing Modern warehouse/office facility located in the core market
Australia of Wangara.
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THE GPT GROUP | 2022 INTERIM RESULT PROPERTY COMPENDIUM
LOGISTICS PORTFOLIO
Australian Capital Territory, Northern Territory and Tasmania
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Property Details Current Valuation Logistics Occupancy (By Area)
Inc. Inc. WALE
GPT Site 30 Jun 22 30 Jun 22 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
Australian Capital Territory
Symonston Traditional land of the Ngunnawal people
12 Faulding Street 100 Nov 2021 3,300 0.7 22.7 5.13 Independent 100.0 100.0 100.0 2.6 Telstra, Secure & Two modern warehouse/office facilities located 6 kilometres
Innovate Group 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 8.3 COPE Sensitive Modern warehouse/office facility located in Berrimah,
Freight approximately 15 kilometers from 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 8.3 COPE Sensitive Modern warehouse/office facility located within close
Freight proximity of Hobart Airport.
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THE GPT GROUP | 2022 INTERIM RESULT PROPERTY COMPENDIUM
LOGISTICS PORTFOLIO
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Retail Portfolio
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Interim Result 2022
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 30 June 2022
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: $885.0m Capitalisation Rate 5.50% Valuation Type Independent
Centre Details
Total GLA 91,100 sqm Number of Tenancies 260 Car Parking Spaces 3,419 Retail Occupancy 99.4%
Sales Information
| Sales Turnover per Square Metre Occupancy Costs Annual Centre Turnover |
Total Centre Specialties |
|---|---|
| $6,002 $10,258 11.1% 15.5% $495.4m |
Key Tenants
| Key Tenants | |
|---|---|
| Myer Big W Target Woolworths Reading Cinemas Coles Aldi |
Area(sqm) |
| 11,500 7,750 5,590 4,800 4,580 4,320 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. Ratings are as at 30 June 2022.
76
THE GPT GROUP | 2022 INTERIM RESULT PROPERTY COMPENDIUM
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, and will 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 30 June 2022
| Key Metrics as at 30 June 2022 | ||
|---|---|---|
| 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 Centre Details Total GLA 149,800 sqm Number of Tenancies 447 Car Parking Spaces 7,276 Retail Occupancy 99.7% |
Current Valuation | |
| Fair Value Capitalisation Rate Valuation Type Sales Information |
GPT: $390.0m, GWSCF: $1,950.0m 4.50% Independent |
|
| Sales Turnover per Square Metre Occupancy Costs Annual Centre Turnover Key Tenants |
Total Centre Specialties |
|
| $7,118 $10,069 13.5% 18.7% $881.8m |
||
| Myer Hoyts Big W David Jones Kmart Waterman (AFL) Woolworths Coles (AFL) |
Area(sqm) | |
| 15,490 9,030 8,160 7,300 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. Ratings are as at 30 June 2022.
78
THE GPT GROUP | 2022 INTERIM RESULT PROPERTY COMPENDIUM
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 30 June 2022
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 Wurundjeri people
Current Valuation
Fair Value[1] GPT: $1,514.0m Capitalisation Rate[2] 4.50% Valuation Type Independent
Centre Details
Total GLA 56,200 sqm Number of Tenancies 292 Car Parking Spaces 822 Retail Occupancy 98.5%
Sales Information
| Sales Information | |
|---|---|
| Sales Turnover per Square Metre Occupancy Costs Annual Centre Turnover |
Total Centre Specialties |
| $7,625 $8,551 17.6% 24.0% $359.7m |
Key Tenants
| Key Tenants | |
|---|---|
| Hoyts Coles |
Area(sqm) |
| 7,710 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. Ratings are as at 30 June 2022.
-
Includes retail and car park.
-
Retail component only.
80
THE GPT GROUP | 2022 INTERIM RESULT PROPERTY COMPENDIUM
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 tenancies including two discount department stores, two supermarkets and a cinema/entertainment precinct.
The asset also benefits from the Northwest Metro with the Rouse Hill Station sitting adjacent to the Town Centre.
Key Metrics as at 30 June 2022
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: $702.0m Capitalisation Rate 5.50% Valuation Type Independent
Centre Details
Total GLA 70,100 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 |
Total Centre Specialties |
|---|---|
| $7,944 $9,780 8.8% 13.9% $491.8m |
Key Tenants
Area (sqm) Big W 8,560 Kmart 6,820 Reading Cinemas 5,780 Woolworths 4,610 Coles 4,130
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. Ratings are as at 30 June 2022.
82
THE GPT GROUP | 2022 INTERIM RESULT PROPERTY COMPENDIUM
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 30 June 2022
| Key Metrics as at 30 June 2022 | ||
|---|---|---|
| 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 106,700 sqm Number of Tenancies 331 Car Parking Spaces 4,962 Retail Occupancy 99.1% |
Current Valuation | |
| Fair Value Capitalisation Rate Valuation Type Sales Information |
GPT: $608.5m 5.00% Independent |
|
| Sales Turnover per Square Metre Occupancy Costs Annual Centre Turnover Key Tenants |
Total Centre Specialties |
|
| $7,061 $10,334 11.2% 16.9% $698.5m |
||
| Myer David Jones Target Big W Kmart Coles BCC Cinemas Woolworths |
Area(sqm) | |
| 12,590 7,780 6,920 6,520 6,270 5,850 4,690 3,870 |
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. Ratings are as at 30 June 2022.
84
THE GPT GROUP | 2022 INTERIM RESULT PROPERTY COMPENDIUM
RETAIL PORTFOLIO
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 discount department store, 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 30 June 2022
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: $665.2m Capitalisation Rate 5.00% Valuation Type Internal
Centre Details
Total GLA 90,900 sqm Number of Tenancies 319 Car Parking Spaces 3,521 Retail Occupancy 99.2%
Sales Information
| Sales Information | |
|---|---|
| Sales Turnover per Square Metre Occupancy Costs Annual Centre Turnover Key Tenants |
Total Centre Specialties |
| $6,843 $9,532 14.9% 22.6% $513.7m |
|
| Myer Big W Hoyts Coles (AFL) Woolworths Aldi |
Area(sqm) |
| 20,110 8,740 4,790 3,830 3,800 1,610 |
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. Ratings are as at 30 June 2022.
86
THE GPT GROUP | 2022 INTERIM RESULT PROPERTY COMPENDIUM
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 30 June 2022
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 nation
Centre Details
Total GLA 38,800 sqm Number of Tenancies 117 Car Parking Spaces 2,088 Retail Occupancy 99.2%
| Current Valuation | ||
|---|---|---|
| Fair Value | GWSCF: $294.5m | |
| Capitalisation Rate | 5.75% | |
| Valuation Type | Internal |
Sales Information
| Sales Turnover per Square Metre Occupancy Costs Annual Centre Turnover |
Total Centre Specialties |
|---|---|
| $8,443 $11,629 7.0% 15.6% $300.4m |
Key Tenants
| Key Tenants | |
|---|---|
| Kmart Target Woolworths Reading Cinemas Coles Aldi |
Area(sqm) |
| 7,800 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. Ratings are as at 30 June 2022.
88
THE GPT GROUP | 2022 INTERIM RESULT PROPERTY COMPENDIUM
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.
The centre also includes international retailers H&M, JD Sport and Sephora, and will introduce Uniqlo in 2022.
Macarthur Square is jointly owned with Australian Prime Property Fund Retail and is managed by Lendlease.
Key Metrics as at 30 June 2022
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 Dhawawal people
Current Valuation
Fair Value GWSCF: $505.0m Capitalisation Rate 5.25% Valuation Type Internal
Centre Details
Total GLA 107,900 sqm Number of Tenancies 329 Car Parking Spaces 4,142 Retail Occupancy 99.7%
Sales Information
| Sales Information | |
|---|---|
| Sales Turnover per Square Metre Occupancy Costs Annual Centre Turnover Key Tenants |
Total Centre Specialties |
| $5,732 $7,556 10.9% 17.6% $567.6m |
|
| Big W David Jones Event Cinemas Target Coles Woolworths Aldi |
Area(sqm) |
| 8,790 6,910 6,090 5,360 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. Ratings are as at 30 June 2022.
90
THE GPT GROUP | 2022 INTERIM RESULT PROPERTY COMPENDIUM
RETAIL PORTFOLIO
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 centre also includes several international retailers including H&M, Uniqlo, JD Sport and Sephora. The centre is located in a rapidly gentrifying trade area supported by strong income growth.
Northland Shopping Centre is jointly owned with, and managed by Vicinity Centres.
Key Metrics as at 30 June 2022
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 nation
Centre Details
Total GLA 96,900 sqm Number of Tenancies 282 Car Parking Spaces 4,640 Retail Occupancy 99.1%
Current Valuation Fair Value GWSCF: $408.5m Capitalisation Rate 5.50% Valuation Type Internal
Sales Information
| Sales Turnover per Square Metre Occupancy Costs Annual Centre Turnover Key Tenants |
Total Centre Specialties |
|---|---|
| $5,657 $8,012 11.6% 18.6% $506.0m |
|
| Myer Target Hoyts Kmart Coles Woolworths Aldi |
Area(sqm) |
| 18,510 6,890 6,530 6,500 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. Ratings are as at 30 June 2022.
92
THE GPT GROUP | 2022 INTERIM RESULT PROPERTY COMPENDIUM
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 30 June 2022
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 Bunurong people
Current Valuation Fair Value GWSCF: $291.7m Capitalisation Rate 5.75% Valuation Type Internal
Centre Details
Total GLA 36,900 sqm Number of Tenancies 126 Car Parking Spaces 2,519 Retail Occupancy 99.5%
Sales Information
| Sales Information | |
|---|---|
| Sales Turnover per Square Metre Occupancy Costs Annual Centre Turnover |
Total Centre Specialties |
| $7,252 $8,926 8.2% 15.2% $243.8m |
Key Tenants
| Key Tenants | |
|---|---|
| Kmart Big W Coles Woolworths |
Area(sqm) |
| 8,390 6,670 3,850 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. Ratings are as at 30 June 2022.
94
THE GPT GROUP | 2022 INTERIM RESULT PROPERTY COMPENDIUM
RETAIL PORTFOLIO
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95 RETAIL PORTFOLIO
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Charlestown Square, NSW
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