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GROWTHPOINT PROPERTIES AUSTRALIA — Annual Report 2021
Aug 24, 2021
65007_rns_2021-08-24_6b0b7306-6e24-4934-b86e-1f9765169d21.pdf
Annual Report
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Growthpoint Properties Australia
FY21 property compendium
25 August 2021
Space to thrive.
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Growthpoint Properties Australia
About us
Key portfolio metrics as at 30 June 2021
Property portfolio value
Growthpoint provides spaces for people to thrive. For more than 11 years, we’ve been investing in high-quality industrial and office properties across Australia. Today, we own and manage 55 properties, valued at approximately $4.5 billion.
We actively manage our portfolio. We invest in our existing properties, ensuring they meet our tenants’ needs now and into the future. We are also focused on growing our property portfolio.
$4.5b 30 June 2020: $4.2b
WALE
6.2yrs 30 June 2020: 6.2yrs
Weighted average cap rate
We are committed to operating in a sustainable way and reducing our impact on the environment.
Growthpoint is a real estate investment trust (REIT), listed on the ASX, and is part of the S&P/ASX 200. Moody’s has issued us with an investment-grade rating of Baa2 for domestic senior secured debt.
5.2% 30 June 2020: 5.7%
Portfolio occupancy
97%
30 June 2020: 93%
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2 Growthpoint Properties Australia –– FY21 property compendium
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Growthpoint Properties Australia
Total portfolio overview
as at 30 June 2021
Sector diversity
Geographic diversity
by value
by value
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WA 8%
NSW 25%
SA 8%
ACT 4%
QLD 26%
VIC 29%
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Industrial
33%
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Office
67%
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Tenant type
Tenant use
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by income
SME 3% [1]
Large private
Government
company
23%
14%
Listed
company
60%
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by income
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Office 63%
Logistics /
distribution
30%
Manufacturing 2%
Retail 3%
Car parking 1%
Other 1%
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- Growthpoint estimate of proportion of tenants with revenue below $50 million.
Top ten tenants, total portfolio by income
| by income | ||
|---|---|---|
| % portfolio | WALE | |
| income | (years) | |
| Woolworths | 13 | 5.4 |
| NSW Police Force | 8 | 23.5 |
| Commonwealth of Australia | 7 | 5.1 |
| CountryRoad Group | 4 | 11.0 |
| Linfox | 3 | 3.7 |
| Bank of Queensland | 3 | 5.6 |
| ANZ BankingGroup | 3 | 4.7 |
| Bunnings Warehouse | 3 | 9.8 |
| SamsungElectronics | 3 | 0.7 |
| Lion | 2 | 2.8 |
| Total / weighted average | 49 | 8.5 |
| Balance ofportfolio | 51 | 4.1 |
| Totalportfolio | 100 | 6.2 |
Portfolio lease expiry
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Portfolio lease expiry 29%
per financial year, by income
17%
13%
12%
10%
9%
7%
3%
Vacant FY22 FY23 FY24 FY25 FY26 FY27 FY28+
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3 Growthpoint Properties Australia –– FY21 property compendium
Office portfolio.
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Office portfolio overview
as at 30 June 2021
Top ten office tenants by income
Geographic diversity by value
Tenants by industry by income
| by income | ||
|---|---|---|
| % | ||
| NSW Police Force | portfolio income 12 |
WALE (years) 23.5 |
| Commonwealth of Australia | 10 | 5.1 |
| Country Road Group | 5 | 11.0 |
| Bank of Queensland | 5 | 5.6 |
| ANZ Banking Group | 4 | 4.7 |
| Bunnings Warehouse Samsung Electronics |
4 4 |
9.8 0.7 |
| Lion Jacobs Group |
4 3 |
2.8 4.4 |
| Fox Sports | 3 | 1.5 |
| Total / weighted average | 54 | 9.5 |
| Balance of portfolio | 46 | 4.1 |
| Total portfolio | 100 | 7.0 |
Government 27% Financial services 17% Resources, infrastructure and construction 15% IT, media and comms 13% Retail 13% Manufacturing/logistics 6% Education 4% Other consumer and business services 3% Health 2%
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ACT 6%
NSW 29%
WA 3%
SA 2%
VIC 30% QLD 30%
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Portfolio lease expiry
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31%
per financial year, by income
16% 16%
10%
9% 9%
6%
3%
Vacant FY22 FY23 FY24 FY25 FY26 FY27 FY28+
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5 Growthpoint Properties Australia –– FY21 property compendium
Office portfolio
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Victoria
| 1 2 3 4 |
pg |
|---|---|
| 75 Dorcas Street, South Melbourne 7 |
|
| Botanicca Corporate Park(3 assets) | |
| – Building3, 570 Swan Street, Richmond 8 |
|
| – Building2, 572-576 Swan Street, Richmond 9 |
|
| – Building1, 572-576 Swan Street, Richmond 10 |
|
| 109 Burwood Road, Hawthorn 11 |
|
| Wellington Road(2 assets) | |
| – BuildingB, 211 Wellington Road, Mulgrave 12 |
|
| – BuildingC, 211 Wellington Road, Mulgrave 13 |
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6 Growthpoint Properties Australia –– FY21 property compendium
Office portfolio
75 Dorcas Street, South Melbourne, VIC
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Location
Located 1.5 kilometres south of the Melbourne CBD, this landmark building features prominent frontage to Kingsway, a major arterial road. The property borders the bustling St Kilda Road and South Melbourne neighbourhood precincts and is within walking distance of comprehensive local amenities, parks, trams and the Anzac Metro Station (opening in 2025). Access to the M1 Citylink Freeway is approximately 500 metres away.
| urne, VIC | urne, VIC |
|---|---|
| Asset summaryas at 30 June 2021 | |
| Title | Freehold |
| Site area | 9,632 sqm |
| Lettable area | 23,811 sqm |
| Occupancy | 97% |
| WALE (by income) | 6.7 years |
| Major tenant | ANZ Banking Group |
| NABERS Energy rating | 4.5 stars |
| Valuation summary | |
| Book value | $249.0m |
| Valuation date | 30-Jun-21 |
| Cap rate | 5.13% |
| Discount rate | 6.13% |
Description
The property offers 10 levels of A-Grade office space with sweeping bay and city views. Large 3,000 sqm plus floorplates set around a light-filled atrium offer flexibility to accommodate a range of tenancy sizes. Car parking is provided over four levels. The building has full generator back-up power, a recently installed rooftop solar array and end-of-trip facilities.
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7 Growthpoint Properties Australia –– FY21 property compendium
Office portfolio
Building 3, 570 Swan Street, Richmond, VIC
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Location
The property is situated approximately five kilometres east of the Melbourne CBD within the Botanicca Corporate Park. Located next to the Yarra River Park precinct, the building has access to sporting facilities and is serviced by both metro rail and tram services as well as the M1 Freeway.
| chmond, VIC | chmond, VIC |
|---|---|
| Asset summaryas at 30 June 2021 | |
| Title | Freehold |
| Site area | 8,525 sqm |
| Lettable area | 19,427 sqm |
| Occupancy | 78% |
| WALE (by income) | 7.6 years |
| Major tenant | Bunnings Warehouse |
| NABERS Energy rating | Not rated1 |
| Valuation summary | |
| Book value | $183.5m |
| Valuation date | 30-Jun-21 |
| Cap rate | 5.00% |
| Discount rate | 6.25% |
- Designed to achieve a 5 star NABERS Energy rating. Rating pending 12 months of operating occupancy data.
Description
This property was developed by Growthpoint and completed in early 2020. It provides state-of-the-art A-Grade office accommodation in two interconnected towers over five and six levels. It features abundant natural light, hotel-style end-of-trip facilities and a high ratio of off-street parking. The property has a 5.0 star Green Star - Design & As Built rating.
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8 Growthpoint Properties Australia –– FY21 property compendium
Office portfolio
Building 2, 572-576 Swan Street, Richmond, VIC
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Location
The property is situated approximately five kilometres east of the Melbourne CBD within the Botanicca Corporate Park. Located next to the Yarra River Park precinct, the building has access to sporting facilities and is serviced by both metro rail and tram services as well as the M1 Freeway.
| t, Richmond, VIC | t, Richmond, VIC |
|---|---|
| Asset summaryas at 30 June 2021 | |
| Title | Freehold |
| Site area | 7,130 sqm |
| Lettable area | 14,602 sqm |
| Occupancy | 100% |
| WALE (by income) | 11.0 years |
| Major tenant | Country Road Group |
| NABERS Energy rating | 4.0 stars |
| Valuation summary | |
| Book value | $130.0m |
| Valuation date | 30-Jun-21 |
| Cap rate | 5.00% |
| Discount rate | 6.00% |
Description
The building was constructed in 2006 and consists of three levels of basement car parking and four levels of A-Grade office space with a central atrium. During 2017, the building underwent an extensive fit-out to upgrade the facilities for new long-term tenant, Country Road Group.
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9 Growthpoint Properties Australia –– FY21 property compendium
Office portfolio
Building 1, 572-576 Swan Street, Richmond, VIC
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Location
The property is situated approximately five kilometres east of the Melbourne CBD within the Botanicca Corporate Park. Located next to the Yarra River Park precinct, the building has access to sporting facilities and is serviced by both metro rail and tram services as well as the M1 Freeway.
| t, Richmond, VIC | t, Richmond, VIC |
|---|---|
| Asset summaryas at 30 June 2021 | |
| Title | Freehold |
| Site area | 8,365 sqm |
| Lettable area | 8,554 sqm |
| Occupancy | 100% |
| WALE (by income) | 11.0 years |
| Major tenant | Country Road Group |
| NABERS Energy rating | 4.0 stars |
| Valuation summary | |
| Book value | $79.0m |
| Valuation date | 30-Jun-21 |
| Cap rate | 5.00% |
| Discount rate | 6.00% |
Description
Completed in 1998, this two-level A-Grade office includes a sunny courtyard and basement car parking. During 2017, the building underwent an extensive fit-out to upgrade the facilities for new longterm tenant, Country Road Group.
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10 Growthpoint Properties Australia –– FY21 property compendium
Office portfolio
109 Burwood Road, Hawthorn, VIC
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Location
The property is situated in a premium metro location, approximately seven kilometres east of the Melbourne CBD. It is easily accessed by road and public transport, being close to metro rail and tram services, and major roadways (Eastern and M1 Freeways). The immediate area provides access to restaurants, cafes, shops and supermarkets.
| VIC | VIC |
|---|---|
| Asset summaryas at 30 June 2021 | |
| Title | Freehold |
| Site area | 3,529 sqm |
| Lettable area | 12,388 sqm |
| Occupancy | 98% |
| WALE (by income) | 3.6 years |
| Major tenant | Orora |
| NABERS Energy rating | 5.0 stars |
| Valuation summary | |
| Book value | $113.0m |
| Valuation date | 30-Jun-21 |
| Cap rate | 5.25% |
| Discount rate | 6.25% |
Description
Built in 2008, this building comprises five levels of A-Grade office space with a ground floor cafe and basement car parking. The property was refurbished in 2018 with basement end-of-trip and bike lockup facilities installed. This building has a 5.0 star NABERS Energy rating and a 6.0 star NABERS Water rating.
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Growthpoint Properties Australia –– FY21 property compendium
Office portfolio
Building B, 211 Wellington Road, Mulgrave, VIC
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Location
The property is situated approximately 20 kilometres from the Melbourne CBD within the Monash technology precinct and is conveniently accessed via Springvale Road, the M1 Freeway and metro train and bus services. The site features on site cafes and a multi-level car park.
| d, Mulgrave, VIC | d, Mulgrave, VIC |
|---|---|
| Asset summaryas at 30 June 2021 | |
| Title | Freehold |
| Site area | 11,040 sqm |
| Lettable area | 12,780 sqm |
| Occupancy | 100% |
| WALE (by income) | 4.6 years |
| Major tenant | Monash University |
| NABERS Energy rating | 6.0 stars |
| Valuation summary | |
| Book value | $83.2m |
| Valuation date | 30-Jun-21 |
| Cap rate | 5.88% |
| Discount rate | 6.50% |
Description
This seven-level, A-Grade office building was constructed in 2015 and features abundant natural light and premium end-of-trip facilities. The building has excellent green credentials with a 5.0 star Green Star - Office Design v3 rating, 6.0 star NABERS Energy rating and 6.0 star NABERS Water rating.
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12 Growthpoint Properties Australia –– FY21 property compendium
Office portfolio
Building C, 211 Wellington Road, Mulgrave, VIC
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Location
The property is situated approximately 20 kilometres from the Melbourne CBD within the Monash technology precinct and is conveniently accessed via Springvale Road, the M1 Freeway and metro train and bus services.
| d, Mulgrave, VIC | d, Mulgrave, VIC |
|---|---|
| Asset summaryas at 30 June 2021 | |
| Title | Freehold |
| Site area | 11,070 sqm |
| Lettable area | 10,289 sqm |
| Occupancy | 98% |
| WALE (by income) | 1.6 years |
| Major tenant | BMW Australia Finance |
| NABERS Energy rating | 5.0 stars |
| Valuation summary | |
| Book value | $57.5m |
| Valuation date | 30-Jun-21 |
| Cap rate | 6.25% |
| Discount rate | 6.75% |
Description
This A-Grade office building, comprising five levels, was constructed in 2016. The ground floor features retail cafe facilities and a childcare centre. Substantial on-site car parking is also provided in a separate multi-level car park. This building has a 5.0 star NABERS Energy rating and 6.0 star NABERS Water rating.
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13 Growthpoint Properties Australia –– FY21 property compendium
Office portfolio
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New South
Wales
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| 1 2 3 |
pg |
|---|---|
| 1 Charles Street, Parramatta 15 |
|
| SydneyOlympic Office Park(2 assets) | |
| – 5 MurrayRose Avenue, SydneyOlympic Park 16 |
|
| – 3 MurrayRose Avenue, SydneyOlympic Park 17 |
|
| BuildingC, 219-247 Pacific Highway, Artarmon 18 |
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1
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PA R R A M AT TA
2
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Growthpoint Properties Australia –– FY21 property compendium
Office portfolio
1 Charles Street, Parramatta, NSW
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Location
The property is located in Parramatta, the fast growing and popular Western Sydney CBD. It has good access to road networks and is conveniently located close to Parramatta train station and ferry terminal. Ample retail amenity is provided by Westfield Parramatta and Parramatta Square.
| SW | SW |
|---|---|
| Asset summaryas at 30 June 2021 | |
| Title | Freehold |
| Site area | 6,460 sqm |
| Lettable area | 32,356 sqm |
| Occupancy | 100% |
| WALE (by income) | 23.5 years |
| Major tenant | NSW Police Force |
| NABERS Energy rating | 5.0 stars |
| Valuation summary | |
| Book value | $525.0m |
| Valuation date | 30-Jun-21 |
| Cap rate | 3.75% |
| Discount rate | 5.50% |
Description
Constructed in 2003, this A-Grade office building comprises two towers of nine and 13 levels, plus four basement levels of car parking. In late 2019, a new 25-year lease was signed with the tenant, the NSW Police Force. A tenant fit out is scheduled for progressive refurbishment over the next few years.
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Growthpoint Properties Australia –– FY21 property compendium
Office portfolio
5 Murray Rose Avenue, Sydney Olympic Park, NSW
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Location
The building is situated in Sydney Olympic Park, approximately 13 kilometres from the Sydney CBD. The precinct boasts world-class sporting and recreational facilities and has access to ever improving rail, road and ferry services. Numerous local parks and sports facilities surround the building and a wide variety of food retail is located within a short walking distance.
| Olympic Park, NSW | Olympic Park, NSW |
|---|---|
| Asset summaryas at 30 June 2021 | |
| Title | Leasehold |
| Site area | 3,826 sqm |
| Lettable area | 12,386 sqm |
| Occupancy | 100% |
| WALE (by income) | 2.8 years |
| Major tenant | Lion |
| NABERS Energy rating | 6.0 stars |
| Valuation summary | |
| Book value | $100.5m |
| Valuation date | 30-Jun-21 |
| Cap rate | 5.50% |
| Discount rate | 6.38% |
Description
This five-level, A-Grade office building was built in 2012. The building has excellent sustainability credentials with a 6.0 star Green Star - As Built rating, 6.0 star NABERS Energy rating and a 4.0 star NABERS Water rating. In 2014, the property was recognised by the Property Council of Australia as Best Sustainable Development.
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Growthpoint Properties Australia –– FY21 property compendium
Office portfolio
3 Murray Rose Avenue, Sydney Olympic Park, NSW
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Location
The building is situated in Sydney Olympic Park, approximately 13 kilometres from the Sydney CBD. The precinct boasts world-class sporting and recreational facilities and has access to ever improving rail, road and ferry services. Numerous local parks and sports facilities surround the building and a wide variety of food retail is located within a short walking distance.
| Olympic Park, NSW | Olympic Park, NSW |
|---|---|
| Asset summaryas at 30 June 2021 | |
| Title | Leasehold |
| Site area | 3,980 sqm |
| Lettable area | 13,423 sqm |
| Occupancy | 100% |
| WALE (by income) | 0.7 years |
| Major tenant | Samsung Electronics |
| NABERS Energy rating | 6.0 stars |
| Valuation summary | |
| Book value | $111.0m |
| Valuation date | 30-Jun-21 |
| Cap rate | 5.36% |
| Discount rate | 6.25% |
Description
This A-Grade office building was constructed in 2015 and is made up of five levels of office space and five and a half levels of basement car parking. The building has strong sustainability credentials with a 6.0 star NABERS Energy rating and 4.5 star NABERS Water rating.
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17 Growthpoint Properties Australia –– FY21 property compendium
Office portfolio
Building C, 219-247 Pacific Highway, Artarmon, NSW
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Location
The property is situated in the Gore Hill Business Park, on the leafy lower north shore adjacent to St Leonards and approximately six kilometres from the Sydney CBD. The Gore Hill Business Park provides access to a range of amenities including cafes, restaurants, post office and banking services with local parks in close proximity.
| hway, Artarmon, NSW | hway, Artarmon, NSW |
|---|---|
| Asset summaryas at 30 June 2021 | |
| Title | Freehold |
| Site area | 4,212 sqm |
| Lettable area | 14,406 sqm |
| Occupancy | 100% |
| WALE (by income) | 2.0 years |
| Major tenant | Fox Sports |
| NABERS Energy rating | 5.0 stars |
| Valuation summary | |
| Book value | $137.0m |
| Valuation date | 30-Jun-21 |
| Cap rate | 5.50% |
| Discount rate | 6.25% |
Description
A modern A-Grade office building featuring seven levels of office and television studio space, on-site cafe, end-of-trip facilities and two levels of basement car park. Built in 2012 with broadcasting in mind, the site incorporates specialised acoustic, electrical and mechanical infrastructure. The property has 5.0 star NABERS Energy and Water ratings.
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18 Growthpoint Properties Australia –– FY21 property compendium
Office portfolio
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Australian Capital Territory
| 1 2 |
pg |
|---|---|
| 10-12 Mort Street, Canberra 20 |
|
| 255 London Circuit, Canberra 21 |
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Growthpoint Properties Australia –– FY21 property compendium
Office portfolio
10-12 Mort Street, Canberra, ACT
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Location
The building is centrally located in the Canberra CBD close to the popular retail shopping precinct and Canberra Centre. It can be easily accessed by road, light rail and bus services. In addition, local parks, cafes and restaurants are in close proximity.
| CT | CT |
|---|---|
| Asset summaryas at 30 June 2021 | |
| Title | Leasehold |
| Site area | 3,064 sqm |
| Lettable area | 15,398 sqm |
| Occupancy | 100% |
| WALE (by income) | 3.7 years |
| Major tenant | Commonwealth of Australia |
| NABERS Energy rating | 5.5 stars |
| Valuation summary | |
| Book value | $95.0m |
| Valuation date | 30-Jun-21 |
| Cap rate | 6.76% |
| Discount rate | 6.75% |
Description
The property was built in 1984, extended in 1994 and extensively refurbished in 2012. It consists of two modern A-Grade, eight-level office buildings plus basement carparking. The property has strong sustainability credentials with a 5.5 star NABERS Energy rating and 5.0 star NABERS Water rating.
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Growthpoint Properties Australia –– FY21 property compendium
Office portfolio
255 London Circuit, Canberra, ACT
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Location
The property is centrally located in the western precinct of Canberra's CBD and can be easily accessed by road, light rail and bus services. In addition, local parks, cafes and restaurants are in close proximity.
| ACT | ACT |
|---|---|
| Asset summaryas at 30 June 2021 | |
| Title | Leasehold |
| Site area | 2,945 sqm |
| Lettable area | 8,972 sqm |
| Occupancy | 100% |
| WALE (by income) | 6.2 years |
| Major tenant | Commonwealth of Australia |
| NABERS Energy rating | 4.5 stars |
| Valuation summary | |
| Book value | $81.0m |
| Valuation date | 30-Jun-21 |
| Cap rate | 5.20% |
| Discount rate | 6.00% |
Description
Built in 2007, the property comprises six levels of A-Grade office accommodation and two levels of basement carparking. The building has a 4.5 star NABERS Energy rating and 5.0 star NABERS Water rating.
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21 Growthpoint Properties Australia –– FY21 property compendium
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Queensland
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pg |
|---|---|
| 100 SkyringTerrace, Newstead 23 |
|
| 15 Green Square Close, Fortitude Valley 24 |
|
| 333 Ann Street, Brisbane 25 |
|
| SW1, South Brisbane(4 assets) | |
| – CB1, 22 Cordelia Street, South Brisbane 26 |
|
| – A1, 32 Cordelia Street, South Brisbane 27 |
|
| – A4, 52 Merivale Street, South Brisbane 28 |
|
| – CB2, 42 Merivale Street, South Brisbane 29 |
Key
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22 Growthpoint Properties Australia –– FY21 property compendium
Office portfolio
100 Skyring Terrace, Newstead, QLD
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Location
The property is located in Brisbane's prestigious Urban Renewal precinct and features 360-degree river and city views. It is proximate to Brisbane CBD in the upscale Gasworks development, within Newstead Riverpark. The building has access to restaurants, cafes, shops and a supermarket as well as parklands, river walkways and bike paths.
| , QLD | , QLD |
|---|---|
| Asset summaryas at 30 June 2021 | |
| Title | Freehold |
| Site area | 5,157 sqm |
| Lettable area | 24,665 sqm |
| Occupancy | 100% |
| WALE (by income) | 5.3 years |
| Major tenant | Bank of Queensland |
| NABERS Energy rating | 6.0 stars |
| Valuation summary | |
| Book value | $257.5m |
| Valuation date | 30-Jun-21 |
| Cap rate | 5.63% |
| Discount rate | 6.25% |
Description
Built in 2014, this modern 12-level A-Grade office building has high sustainability credentials including a 5.0 Star Green Star - As-built & Office design v3 rating and a 6.0 star NABERS Energy rating. The building features office accommodation with high-quality fit out, ground floor foyer and retail amenities, as well as extensive end-of-trip facilities and basement parking.
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23 Growthpoint Properties Australia –– FY21 property compendium
Office portfolio
15 Green Square Close, Fortitude Valley, QLD
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Location
The property is located within the Fortitude Valley Gateway Precinct, proximate to Brisbane CBD, Brisbane's RNA Showgrounds, Emporium Brisbane and the Royal Brisbane and Women's Hospital. This location is well serviced by public transport and provides access to an abundance of amenities.
| de Valley, QLD | de Valley, QLD |
|---|---|
| Asset summaryas at 30 June 2021 | |
| Title | Freehold |
| Site area | 2,519 sqm |
| Lettable area | 16,442 sqm |
| Occupancy | 92% |
| WALE (by income) | 3.2 years |
| Major tenant | Queensland Urban Utilities |
| NABERS Energy rating | 5.5 stars |
| Valuation summary | |
| Book value | $143.0m |
| Valuation date | 30-Jun-21 |
| Cap rate | 5.75% |
| Discount rate | 6.50% |
Description
This A-Grade office building was completed 2013 and includes ground floor foyer, retail accommodation, 11 levels of office accommodation and three levels of basement car parking. The building has a 5.5 star NABERS Energy rating and 4.0 star NABERS Water rating.
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24 Growthpoint Properties Australia –– FY21 property compendium
Office portfolio
333 Ann Street, Brisbane, QLD
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Location
The property is located in the Brisbane CBD within the Ann Street Corridor. This central location provides access to a multitude of transport services including major arterials, railway and bus stations and ferry services. An abundance of cafes and retail amenities are within easy walking distance.
| Asset summaryas at 30 June 2021 | Asset summaryas at 30 June 2021 |
|---|---|
| Title | Freehold |
| Site area | 1,563 sqm |
| Lettable area | 16,342 sqm |
| Occupancy | 89% |
| WALE (by income) | 3.8 years |
| Major tenant | Federation University |
| NABERS Energy rating | 3.0 stars |
| Valuation summary | |
| Book value | $140.0m |
| Valuation date | 30-Jun-21 |
| Cap rate | 5.63% |
| Discount rate | 6.00% |
Description
This modern A-Grade office building was completed in 2008. It provides 24 levels of office accommodation, ground floor retail and podium car parking over four levels. The property features brand new fit outs across several floors, and extensive end-of-trip facilities. The building has a 4.0 star Green Star - Office Design v2 rating and 5.5 star NABERS Water rating.
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25 Growthpoint Properties Australia –– FY21 property compendium
Office portfolio
CB1, 22 Cordelia Street, South Brisbane, QLD
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Location
CB1 forms part of SW1 development which is positioned in the heart of South Brisbane. The awarding wining development is an urban oasis featuring high-quality offices, ample parking, retail conveniences and inner city living. SW1 is situated within close proximity to South Bank, Brisbane CBD and has direct access to all major arterials.
| Brisbane, QLD | Brisbane, QLD |
|---|---|
| Asset summaryas at 30 June 2021 | |
| Title | Leasehold |
| Site area | 5,772 sqm |
| Lettable area | 11,460 sqm |
| Occupancy | 94% |
| WALE (by income) | 2.7 years |
| Major tenant | Downer EDI Mining |
| NABERS Energy rating | 5.0 stars |
| Valuation summary | |
| Book value | $103.0m |
| Valuation date | 30-Jun-21 |
| Cap rate | 5.88% |
| Discount rate | 6.75% |
Description
This A-Grade office building was completed in 2006. It includes ground-floor foyer, retail accommodation and eight levels of office accommodation with access to extensive onsite parking and end-of-trip facilities.
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26 Growthpoint Properties Australia –– FY21 property compendium
Office portfolio
A1, 32 Cordelia Street, South Brisbane, QLD
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Location
A1 forms part of SW1 development which is positioned in the heart of South Brisbane. The awarding wining development is an urban oasis of highquality offices, ample parking, retail conveniences and inner city living. SW1 is situated within close proximity to South Bank, Brisbane CBD and has direct access to all major arterials.
| risbane, QLD | risbane, QLD |
|---|---|
| Asset summaryas at 30 June 2021 | |
| Title | Leasehold |
| Site area | 2,667 sqm |
| Lettable area | 10,003 sqm |
| Occupancy | 100% |
| WALE (by income) | 4.0 years |
| Major tenant | Jacobs Group |
| NABERS Energy rating | 5.5 stars |
| Valuation summary | |
| Book value | $89.0m |
| Valuation date | 30-Jun-21 |
| Cap rate | 5.75% |
| Discount rate | 6.25% |
Description
This A-Grade office building was completed in 2008. It includes ground-floor foyer, retail accommodation and seven levels of office accommodation, as well as access to extensive onsite parking and end-of-trip facilities.
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27 Growthpoint Properties Australia –– FY21 property compendium
Office portfolio
A4, 52 Merivale Street, South Brisbane, QLD
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Location
A4 forms part of SW1 development which is positioned in the heart of South Brisbane. The awarding wining development is an urban oasis of highquality offices, ample parking, retail conveniences and inner city living. SW1 is situated within close proximity to South Bank, Brisbane CBD and has direct access to all major arterials.
| risbane, QLD | risbane, QLD |
|---|---|
| Asset summaryas at 30 June 2021 | |
| Title | Leasehold |
| Site area | 2,331 sqm |
| Lettable area | 9,405 sqm |
| Occupancy | 98% |
| WALE (by income) | 4.3 years |
| Major tenant | Stantec Australia |
| NABERS Energy rating | 5.0 stars |
| Valuation summary | |
| Book value | $87.5m |
| Valuation date | 30-Jun-21 |
| Cap rate | 5.75% |
| Discount rate | 6.25% |
Description
This A-Grade office building was completed in 2009. It includes ground-floor foyer, retail accommodation and seven levels of office accommodation, as well as access to extensive onsite parking and end-of-trip facilities.
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28 Growthpoint Properties Australia –– FY21 property compendium
Office portfolio
CB2, 42 Merivale Street, South Brisbane, QLD
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Location
CB2 forms part of SW1 development which is positioned in the heart of South Brisbane. The awarding wining development is an urban oasis of high-quality offices, ample parking, retail conveniences and inner city living. SW1 is situated within close proximity to South Bank, Brisbane CBD and has direct access to all major arterials.
| Brisbane, QLD | Brisbane, QLD |
|---|---|
| Asset summaryas at 30 June 2021 | |
| Title | Leasehold |
| Site area | 3,158 sqm |
| Lettable area | 6,598 sqm |
| Occupancy | 100% |
| WALE (by income) | 3.6 years |
| Major tenant | Peabody Energy |
| NABERS Energy rating | 5.0 stars |
| Valuation summary | |
| Book value | $60.0m |
| Valuation date | 30-Jun-21 |
| Cap rate | 5.88% |
| Discount rate | 6.25% |
Description
This A-Grade office building was completed in 2006. It includes ground-floor foyer, retail accommodation and five levels of office accommodation, with balconies to each floor, as well as access to extensive onsite parking and end-of-trip facilities.
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29 Growthpoint Properties Australia –– FY21 property compendium
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----- Start of picture text -----
Office portfolio
South
Australia
1
Key
pg Airport
1 33-39 Richmond Road, Keswick 31 Port
Growthpoint Properties Australia –– FY21 property compendium
----- End of picture text -----
Office portfolio
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----- Start of picture text -----
South
Australia
----- End of picture text -----
30
Office portfolio
33-39 Richmond Road, Keswick, SA
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Location
Adelaide's best suburban office building is situated in a city fringe location just two kilometres from the CBD. The property is easily accessed by road, rail and bus services.
| k, SA | k, SA |
|---|---|
| Asset summaryas at 30 June 2021 | |
| Title | Freehold |
| Site area | 4,169 sqm |
| Lettable area | 11,730 sqm |
| Occupancy | 93% |
| WALE (by income) | 5.3 years |
| Major tenant | Coffey Corporate |
| NABERS Energy rating | 5.5 stars |
| Valuation summary | |
| Book value | $69.0m |
| Valuation date | 30-Jun-21 |
| Cap rate | 6.50% |
| Discount rate | 6.75% |
Description
Built in 2010, this A-Grade office building comprises ground-floor foyer and retail, rooftop plant room and five levels of premium office accommodation. Abundant parking is provided on site. The full height central atrium provides abundant natural light and the office park location affords expansive views of the surrounding area. The property has a 5.5 star NABERS Energy rating and a 4.5 star NABERS Water rating.
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31 Growthpoint Properties Australia –– FY21 property compendium
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----- Start of picture text -----
Office portfolio
Western
Australia
1
Key
pg Airport
1 836 Wellington Street, West Perth 33 Port
Growthpoint Properties Australia –– FY21 property compendium
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Office portfolio
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----- Start of picture text -----
Western
Australia
----- End of picture text -----
32
Office portfolio
836 Wellington Street, West Perth, WA
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Location
The building is located in West Perth, approximately 1.3 kilometres from the Perth CBD. The central location is easily accessed by road, rail and bus services. Local parks, cafes, restaurants, the Watertown Brand Outlet Centre and Perth's RAC Arena are all within close proximity.
| th, WA | th, WA |
|---|---|
| Asset summaryas at 30 June 2021 | |
| Title | Freehold |
| Site area | 4,304 sqm |
| Lettable area | 11,973 sqm |
| Occupancy | 100% |
| WALE (by income) | 5.6 years |
| Major tenant | Commonwealth of Australia |
| NABERS Energy rating | 5.5 stars |
| Valuation summary | |
| Book value | $100.0m |
| Valuation date | 30-Jun-21 |
| Cap rate | 6.00% |
| Discount rate | 6.75% |
Description
This six-level A-Grade office building was constructed in 2009 and has a 5.5 star NABERS Energy rating. The property includes basement car parking facilities, ground-level foyer/reception area and five levels of premium office accommodation featuring abundant natural light.
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33 Growthpoint Properties Australia –– FY21 property compendium
Industrial portfolio.
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Industrial portfolio overview
as at 30 June 2021
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----- Start of picture text -----
Tenants by industry
by income
Retail 47%
Logistics 29%
Manufacturing 14%
Other consumer and
business services 6%
Health 3%
Resources, infrastructure
and construction 1%
----- End of picture text -----
Top ten industrial tenants by income
Geographic diversity by value
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----- Start of picture text -----
|||||
|---|---|---|---|
|% portfolio|WALE|
|SA 18%|
|income|(yrs)|VIC 28%|
|Woolworths|40|5.4|
|Linfox|10|3.7|
|Australia Post|6|10.0|
|NSW 18%|
|Laminex Group|4|4.0|
|HB Commerce|3|1.2|QLD 18%|
|Brown & Watson|
|3|4.1|
|International|WA 18%|
|The Workwear Group|2|6.0|
|Autocare Services|2|9.3|Portfolio lease expiry|
|per financial year, by income|
|Symbion|2|7.5|
|Mainfreight Distribution|1|1.4|
|Total / weighted average|73|5.4|20%|
|Balance of portfolio|27|2.9|
|Total portfolio|100|4.7|11%|
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----- Start of picture text -----
26%
20%
18%
11%
10%
8%
5%
2%
Vacant FY21 FY22 FY23 FY24 FY25 FY26 FY27+
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35 Growthpoint Properties Australia –– FY21 property compendium
7
Industrial portfolio
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Victoria
| 1 2 3 4 5 6 7 |
pg |
|---|---|
| Melbourne Airport(6 assets) | |
| – 40 Annandale Road, Melbourne Airport 37 |
|
| – 130 Sharps Road, Melbourne Airport 38 |
|
| – 120 Link Road, Melbourne Airport 39 |
|
| – 60 Annandale Road, Melbourne Airport 40 |
|
| – 101-111 South Centre Road, Melbourne Airport 41 |
|
| – 75 Annandale Road, Melbourne Airport 42 |
|
| Knoxfield(3 assets) | |
| – 1500 Ferntree Gully Road & 8 Henderson Road, Knoxfield 43 |
|
| – 6 Kingston Park Court, Knoxfield 44 |
|
| – 3 Millennium Court, Knoxfield 45 |
|
| Keysborough(3 assets) | |
| – 120-132 Atlantic Drive, Keysborough 46 |
|
| – 20 Southern Court, Keysborough 47 |
|
| – 19 Southern Court, Keysborough 48 |
|
| 3 Maker Place, Truganina 49 |
|
| 9-11 Drake Boulevard, Altona 50 |
|
| Lots 2, 3 & 4, 34-44 Raglan Street, Preston 51 |
|
| 31 Garden Street, Kilsyth 52 |
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1
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6
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4 5
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2
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----- Start of picture text -----
3
Airport
Port
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Key
36 Growthpoint Properties Australia –– FY21 property compendium
Industrial portfolio
40 Annandale Road, Melbourne Airport, VIC
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Location
The property is located within Melbourne Airport Business Park, an industrial precinct, approximately 16 kilometres north of the Melbourne CBD. The location is sought after due to its close proximity to the airport and surrounding key roadways. It has easy access to the Western Ring Road, Tullamarine Freeway and Calder Highway.
| Airport, VIC | Airport, VIC |
|---|---|
| Asset summaryas at 30 June 2021 | |
| Title | Leasehold |
| Site area | 75,325 sqm |
| Lettable area | 44,424 sqm |
| Occupancy | 100% |
| WALE (by income) | 10.0 years |
| Major tenant | Australia Post |
| Valuation summary | |
| Book value | $38.3m |
| Valuation date | 30-Jun-21 |
| Cap rate | 6.50% |
| Discount rate | 6.00% |
Description
Constructed in 2002 and progressively extended up to 2009, the property comprises two freestanding warehouses with high-clearance and multiple loading bays, each with adjoining offices. The site has dual access to the front and rear. The property is being upgraded to an automated parcel sorting facility along with other site improvements.
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37
Growthpoint Properties Australia –– FY21 property compendium
Industrial portfolio
130 Sharps Road, Melbourne Airport, VIC
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Location
The property is located within Melbourne Airport Business Park, an industrial precinct, approximately 16 kilometres north of the Melbourne CBD. The location is sought after due to its close proximity to the airport and surrounding key roadways. It has easy access to the Western Ring Road, Tullamarine Freeway and Calder Highway.
| irport, VIC | irport, VIC |
|---|---|
| Asset summaryas at 30 June 2021 | |
| Title | Leasehold |
| Site area | 47,446 sqm |
| Lettable area | 28,100 sqm |
| Occupancy | 100% |
| WALE (by income) | 4.0 years |
| Major tenant | Laminex Group |
| Valuation summary | |
| Book value | $26.0m |
| Valuation date | 30-Jun-21 |
| Cap rate | 7.25% |
| Discount rate | 6.00% |
Description
The property was built in 2002 and comprises a multi-level office/showroom and warehouse facilities with paved hardstand and drive-around access. Extensive onsite parking is provided.
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38 Growthpoint Properties Australia –– FY21 property compendium
Industrial portfolio
120 Link Road, Melbourne Airport, VIC
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Location
The property is located within Melbourne Airport Business Park, an industrial precinct, approximately 16 kilometres north of the Melbourne CBD. The location is sought after due to its close proximity to the airport and surrounding key roadways. It has easy access to the Western Ring Road, Tullamarine Freeway and Calder Highway.
| ort, VIC | ort, VIC |
|---|---|
| Asset summaryas at 30 June 2021 | |
| Title | Leasehold |
| Site area | 51,434 sqm |
| Lettable area | 26,517 sqm |
| Occupancy | 100% |
| WALE (by income) | 6.0 years |
| Major tenant | The Workwear Group |
| Valuation summary | |
| Book value | $21.1m |
| Valuation date | 30-Jun-21 |
| Cap rate | 7.25% |
| Discount rate | 6.25% |
Description
Constructed in 2006, the property comprises an open span high-clearance warehouse with forklift battery charging room, recessed loading docks and multiple on-grade roller doors. It has full drive around access, integral twolevel offices and amenities and a stand-alone dangerous good store.
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39 Growthpoint Properties Australia –– FY21 property compendium
Industrial portfolio
60 Annandale Road, Melbourne Airport, VIC
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Location
The property is located within Melbourne Airport Business Park, an industrial precinct, approximately 16 kilometres north of the Melbourne CBD. The location is sought after due to its close proximity to the airport and surrounding key roadways. It has easy access to the Western Ring Road, Tullamarine Freeway and Calder Highway.
| Airport, VIC | Airport, VIC |
|---|---|
| Asset summaryas at 30 June 2021 | |
| Title | Leasehold |
| Site area | 34,726 sqm |
| Lettable area | 16,276 sqm |
| Occupancy | 100% |
| WALE (by income) | 1.9 years |
| Major tenant | Garden City Planters |
| Valuation summary | |
| Book value | $11.9m |
| Valuation date | 30-Jun-21 |
| Cap rate | 7.50% |
| Discount rate | 6.25% |
Description
This purpose-built factory and warehouse, constructed in 2003, includes offices and staff amenities and features a high-capacity electrical power supply. Front and rear loading is provided.
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40 Growthpoint Properties Australia –– FY21 property compendium
Industrial portfolio
101-111 South Centre Road, Melbourne Airport, VIC
==> picture [436 x 195] intentionally omitted <==
Location
The property is located within Melbourne Airport Business Park, an industrial precinct, approximately 16 kilometres north of the Melbourne CBD. The location is sought after due to its close proximity to the airport and surrounding key roadways. It has easy access to the Western Ring Road, Tullamarine Freeway and Calder Highway.
| elbourne Airport, VIC | elbourne Airport, VIC |
|---|---|
| Asset summaryas at 30 June 2021 | |
| Title | Leasehold |
| Site area | 24,799 sqm |
| Lettable area | 14,082 sqm |
| Occupancy | 100% |
| WALE (by income) | 6.4 years |
| Major tenant | Direct Couriers |
| Valuation summary | |
| Book value | $11.2m |
| Valuation date | 30-Jun-21 |
| Cap rate | 7.50% |
| Discount rate | 6.25% |
Description
Constructed in 2003, the property comprises a modern two-level office and warehouse facility and on-site parking. The property offers a large 'super awning' as well as recessed and on-grade loading docks.
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41 Growthpoint Properties Australia –– FY21 property compendium
Industrial portfolio
75 Annandale Road, Melbourne Airport, VIC
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Location
The property is located within Melbourne Airport Business Park, an industrial precinct, approximately 16 kilometres north of the Melbourne CBD. The location is sought after due to its close proximity to the airport and surrounding key roadways. It has easy access to the Western Ring Road, Tullamarine Freeway and Calder Highway.
| Airport, VIC | Airport, VIC |
|---|---|
| Asset summaryas at 30 June 2021 | |
| Title | Leasehold |
| Site area | 16,930 sqm |
| Lettable area | 10,310 sqm |
| Occupancy | 100% |
| WALE (by income) | 1.3 years |
| Major tenant | Unipart Group Australia |
| Valuation summary | |
| Book value | $8.3m |
| Valuation date | 30-Jun-21 |
| Cap rate | 7.50% |
| Discount rate | 6.25% |
Description
Constructed in 2003, this modern distribution centre comprises a singlelevel office and warehouse facility.
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42 Growthpoint Properties Australia –– FY21 property compendium
Industrial portfolio
1500 Ferntree Gully Rd & 8 Henderson Rd, Knoxfield, VIC
==> picture [436 x 195] intentionally omitted <==
Location
The property is situated in the Kingston Business Park, approximately 27 kilometres east of the Melbourne CBD, and has access to one of Melbourne's largest roadways, EastLink.
| Asset summaryas at 30 June 2021 | Asset summaryas at 30 June 2021 |
|---|---|
| Title | Freehold |
| Site area | 40,844 sqm |
| Lettable area | 22,009 sqm |
| Occupancy | 100% |
| WALE (by income) | 4.3 years |
| Major tenant | Brown & Watson International |
| Valuation summary | |
| Book value | $55.3m |
| Valuation date | 30-Jun-21 |
| Cap rate | 4.75% |
| Discount rate | 6.00% |
Description
Constructed in 2009, the property comprises a large warehouse with a twolevel office to the front and additional office to the rear. Extensive on-site parking is provided. The property includes adjoining expansion land of approximately 5,750 sqm.
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43 Growthpoint Properties Australia –– FY21 property compendium
Industrial portfolio
6 Kingston Park Court, Knoxfield, VIC
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Location
The property is situated approximately 26 kilometres east of the Melbourne CBD and has access to one of Melbourne's largest roadways, EastLink. The location is a well-established industrial area.
| d, VIC | d, VIC |
|---|---|
| Asset summaryas at 30 June 2021 | |
| Title | Freehold |
| Site area | 12,795 sqm |
| Lettable area | 7,645 sqm |
| Occupancy | 100% |
| WALE (by income) | 0.9 years |
| Major tenant | NGK Spark Plug |
| Valuation summary | |
| Book value | $14.5m |
| Valuation date | 30-Jun-21 |
| Cap rate | 5.00% |
| Discount rate | 6.00% |
Description
Constructed in 2007, this office/warehouse facility features highclearance accommodation, on-grade and recessed loading areas and drive around access.
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44 Growthpoint Properties Australia –– FY21 property compendium
Industrial portfolio
3 Millennium Court, Knoxfield, VIC
==> picture [436 x 195] intentionally omitted <==
Location
The property is situated approximately 26 kilometres east of the Melbourne CBD and has access to one of Melbourne's largest roadways, EastLink. The location is a well-established industrial area.
| IC | IC |
|---|---|
| Asset summaryas at 30 June 2021 | |
| Title | Freehold |
| Site area | 14,750 sqm |
| Lettable area | 8,040 sqm |
| Occupancy | 100% |
| WALE (by income) | 4.7 years |
| Major tenant | Opal Packaging |
| Valuation summary | |
| Book value | $15.3m |
| Valuation date | 30-Jun-21 |
| Cap rate | 5.00% |
| Discount rate | 6.00% |
Description
This industrial facility was constructed in 2000 and comprises a twolevel office and warehouse with side loading. The site features two street frontages and has on-site parking.
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45 Growthpoint Properties Australia –– FY21 property compendium
Industrial portfolio
120-132 Atlantic Drive, Keysborough, VIC
==> picture [436 x 195] intentionally omitted <==
Location
The property is situated within the Key Industrial Park, a sought-after location, approximately 30 kilometres south-east of the Melbourne CBD. It has easy access to EastLink, Dandenong Bypass and South Gippsland Highway.
| ough, VIC | ough, VIC |
|---|---|
| Asset summaryas at 30 June 2021 | |
| Title | Freehold |
| Site area | 26,181 sqm |
| Lettable area | 12,864 sqm |
| Occupancy | 100% |
| WALE (by income) | 7.5 years |
| Major tenant | Symbion |
| Valuation summary | |
| Book value | $34.8m |
| Valuation date | 30-Jun-21 |
| Cap rate | 4.25% |
| Discount rate | 5.75% |
Description
Constructed in 2013, this high-spec distribution facility comprises ambient and temperature controlled environments and high-bay clearance. The property includes adjoining expansion land of approximately 3,000 sqm.
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46 Growthpoint Properties Australia –– FY21 property compendium
Industrial portfolio
20 Southern Court, Keysborough, VIC
==> picture [436 x 195] intentionally omitted <==
Location
The property is situated within the Key Industrial Park, a sought-after location, approximately 30 kilometres south-east of the Melbourne CBD. It has easy access to EastLink, Dandenong Bypass and South Gippsland Highway.
| h, VIC | h, VIC |
|---|---|
| Asset summaryas at 30 June 2021 | |
| Title | Freehold |
| Site area | 19,210 sqm |
| Lettable area | 11,430 sqm |
| Occupancy | 100% |
| WALE (by income) | 1.5 years |
| Major tenant | Sales Force National |
| Valuation summary | |
| Book value | $19.4m |
| Valuation date | 30-Jun-21 |
| Cap rate | 5.00% |
| Discount rate | 6.00% |
Description
The property was constructed in 2014 and comprises a high-clearance warehouse and two-level office. Access to the warehouse is via both ongrade doors and recessed loading docks with canopy.
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47 Growthpoint Properties Australia –– FY21 property compendium
Industrial portfolio
19 Southern Court, Keysborough, VIC
==> picture [436 x 195] intentionally omitted <==
Location
The property is situated within the Key Industrial Park, a sought-after location, approximately 30 kilometres south-east of the Melbourne CBD. It has easy access to EastLink, Dandenong Bypass and South Gippsland Highway.
| h, VIC | h, VIC |
|---|---|
| Asset summaryas at 30 June 2021 | |
| Title | Freehold |
| Site area | 11,650 sqm |
| Lettable area | 6,455 sqm |
| Occupancy | 100% |
| WALE (by income) | 5.8 years |
| Major tenant | Wabtec Australia |
| Valuation summary | |
| Book value | $12.7m |
| Valuation date | 30-Jun-21 |
| Cap rate | 4.75% |
| Discount rate | 6.00% |
Description
Constructed in 2014, the property comprises a two-level office and highclearance warehouse which features on-grade and recessed loading docks with canopy.
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48 Growthpoint Properties Australia –– FY21 property compendium
Industrial portfolio
3 Maker Place, Truganina, VIC
==> picture [436 x 195] intentionally omitted <==
Location
The property is located in Truganina, one of Melbourne's sought after logistics and e-commerce hubs, approximately 18 kilometres west of the Melbourne CBD. It has easy access to the Port of Melbourne and both the Princes Freeway and the Western Ring Road.
| Asset summaryas at 30 June 2021 | Asset summaryas at 30 June 2021 |
|---|---|
| Title | Freehold |
| Site area | 49,810 sqm |
| Lettable area | 31,092 sqm |
| Occupancy | 100% |
| WALE (by income) | 1.2 years |
| Major tenant | HB Commerce |
| Valuation summary | |
| Book value | $48.3m |
| Valuation date | 30-Jun-21 |
| Cap rate | 4.75% |
| Discount rate | 5.75% |
Description
Constructed in 2019, this award-winning logistics property comprises a large warehouse with office facilities located at each end, enabling the warehouse to be split into two components and separately leased. The building offers pallet racking throughout, two large 'super awnings' as well as multiple on-grade and recessed loading docks.
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49 Growthpoint Properties Australia –– FY21 property compendium
Industrial portfolio
9-11 Drake Boulevard, Altona, VIC
==> picture [436 x 195] intentionally omitted <==
Location
The property is located within the Altona Industrial Estate, approximately 12 kilometres west of the Melbourne CBD. It has direct access to the Port of Melbourne and is close to both the West Gate Freeway and Princes Freeway.
| VIC | VIC |
|---|---|
| Asset summaryas at 30 June 2021 | |
| Title | Freehold |
| Site area | 41,730 sqm |
| Lettable area | 25,743 sqm |
| Occupancy | 100% |
| WALE (by income) | 2.3 years |
| Major tenant | Peter Stevens Motorcycles |
| Valuation summary | |
| Book value | $48.0m |
| Valuation date | 30-Jun-21 |
| Cap rate | 4.50% |
| Discount rate | 5.75% |
Description
Constructed in 2013, this property comprises internal mezzanine offices and three separate warehouses with high-clearance, multiple access points and loading zones.
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50 Growthpoint Properties Australia –– FY21 property compendium
Industrial portfolio
Lots 2, 3 & 4, 34-44 Raglan Street, Preston, VIC
==> picture [436 x 195] intentionally omitted <==
Location
The property is approximately nine kilometres north of the Melbourne CBD. The property has access to major roads and transport services making it desirable for inner city services.
| eet, Preston, VIC | eet, Preston, VIC |
|---|---|
| Asset summaryas at 30 June 2021 | |
| Title | Freehold |
| Site area | 42,280 sqm |
| Lettable area | 27,978 sqm |
| Occupancy | 100% |
| WALE (by income) | 2.8 years |
| Major tenant | Paper Australia |
| Valuation summary | |
| Book value | $41.1m |
| Valuation date | 30-Jun-21 |
| Cap rate | 5.25% |
| Discount rate | 6.25% |
Description
The property comprises three factory/warehouses and a small stand-alone two-level office. Lighting at the site has been upgraded to LEDs and the premises are fully sprinklered. The property offers institutional-grade accommodation in a precinct that has historically been tightly held by private owners.
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51 Growthpoint Properties Australia –– FY21 property compendium
Industrial portfolio
31 Garden Street, Kilsyth, VIC
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Location
The property is located in Kilsyth approximately 34 kilometres east of the Melbourne CBD, in a well-established industrial area with nearby access to the Maroondah Highway.
| Asset summaryas at 30 June 2021 | Asset summaryas at 30 June 2021 |
|---|---|
| Title | Freehold |
| Site area | 17,610 sqm |
| Lettable area | 8,919 sqm |
| Occupancy | 100% |
| WALE (by income) | 2.4 years |
| Major tenant | Cummins Filtration |
| Valuation summary | |
| Book value | $15.0m |
| Valuation date | 30-Jun-21 |
| Cap rate | 5.00% |
| Discount rate | 6.00% |
Description
This steel frame warehouse was constructed in 1990 and was refurbished and extended in 2005. The property is used for manufacturing and storage and includes laboratory areas, an office and on-site parking.
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52 Growthpoint Properties Australia –– FY21 property compendium
Industrial portfolio
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Queensland
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| 1 2 3 |
pg |
|---|---|
| 70 Distribution Street, Larapinta 54 |
|
| 13 Business Street, Yatala 55 |
|
| Brisbane Airport(2 assets) | |
| – 5 Viola Place, Brisbane Airport 56 |
|
| – 3 Viola Place, Brisbane Airport 57 |
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53 Growthpoint Properties Australia –– FY21 property compendium
Industrial portfolio
70 Distribution Street, Larapinta, QLD
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Location
The property is located 20 kilometres south of the Brisbane CBD in the Motorway Business Park, ideally positioned for logistics and distribution. The property has access via two street frontages and direct access to the Logan Motorway, a major arterial for the city.
| , QLD | , QLD |
|---|---|
| Asset summaryas at 30 June 2021 | |
| Title | Leasehold |
| Site area | 250,900 sqm |
| Lettable area | 76,109 sqm |
| Occupancy | 100% |
| WALE (by income) | 0.7 years |
| Major tenant | Woolworths |
| Valuation summary | |
| Book value | $235.0m |
| Valuation date | 30-Jun-21 |
| Cap rate | 5.89% |
| Discount rate | 6.00% |
Description
The property was purpose-built for Woolworths in 2007 as its regional distribution centre serving Queensland and northern New South Wales. It comprises a fully automated high-bay warehouse as well as multi-level pick faces, temperature-controlled and ambient warehousing. The impressive facility also includes fruit-ripening rooms, a staff canteen, changing facilities, offices and a separate truck maintenance facility.
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54 Growthpoint Properties Australia –– FY21 property compendium
Industrial portfolio
13 Business Street, Yatala, QLD
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Location
The property is located in Yatala within the Access Business Park, 35 kilometres south east of the Brisbane CBD, with direct access to the Pacific Motorway. Yatala is located between Brisbane and the Gold Coast and is a significant logistics and manufacturing hub servicing south east Queensland and northern New South Wales.
| Asset summaryas at 30 June 2021 | |
| Title | Freehold |
| Site area | 18,630 sqm |
| Lettable area | 8,951 sqm |
| Occupancy | 100% |
| WALE (by income) | 4.1 years |
| Major tenant | Volo Modular |
| Valuation summary | |
| Book value | $15.4m |
| Valuation date | 30-Jun-21 |
| Cap rate | 5.25% |
| Discount rate | 6.00% |
Description
The property was constructed in 2008 and consists of a purpose-built warehouse with adjoining two-level office/showroom.
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55 Growthpoint Properties Australia –– FY21 property compendium
Industrial portfolio
5 Viola Place, Brisbane Airport, QLD
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Location
The property is located at Brisbane Airport within the Export Park Estate, approximately eight kilometres from the Brisbane CBD. It is well situated with good access to both the Brisbane CBD and south-east Queensland's arterial road network via the M1 Gateway Motorway.
| QLD | QLD |
|---|---|
| Asset summaryas at 30 June 2021 | |
| Title | Leasehold |
| Site area | 35,166 sqm |
| Lettable area | 14,726 sqm |
| Occupancy | – |
| WALE (by income) | – |
| Major tenant | Vacant |
| Valuation summary | |
| Book value | $9.2m |
| Valuation date | 30-Jun-21 |
| Cap rate | 6.75% |
| Discount rate | 6.50% |
Description
Constructed in 2004, this property comprises a modern warehouse and two levels of corporate offices. In addition to staff amenities and a dangerous-good store, the property includes ample car parking and drive around access for B-Double trucks. An adjacent concrete surfaced yard can be leased separately for open storage or built on to provide additional warehousing.
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56 Growthpoint Properties Australia –– FY21 property compendium
Industrial portfolio
3 Viola Place, Brisbane Airport, QLD
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Location
The property is located at Brisbane Airport within the Export Park Estate, approximately eight kilometres from the Brisbane CBD. It is well situated with good access to both the Brisbane CBD and south-east Queensland's arterial road network via the M1 Gateway Motorway.
| QLD | QLD |
|---|---|
| Asset summaryas at 30 June 2021 | |
| Title | Leasehold |
| Site area | 12,483 sqm |
| Lettable area | 3,431 sqm |
| Occupancy | 100% |
| WALE (by income) | 1.7 years |
| Major tenant | Cargo Transport Systems |
| Valuation summary | |
| Book value | $3.2m |
| Valuation date | 30-Jun-21 |
| Cap rate | 6.25% |
| Discount rate | 6.50% |
Description
The property was constructed in 2004 and consists of a single-level office with warehousing facilities to the rear. A large yard area is also included which can be used for open storage or built on for additional warehousing.
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57 Growthpoint Properties Australia –– FY21 property compendium
Industrial portfolio
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New South Wales
pg
| pg | |
|---|---|
| 1 2 3 |
Erskine Park(3 assets) |
| – 27-49 Lenore Drive, Erskine Park 59 |
|
| – 6-7 John Morphett Place, Erskine Park 60 |
|
| – 51-65 Lenore Drive, Erskine Park 61 |
|
| 81 DerbyStreet, Silverwater 62 |
|
| 34 Reddalls Road, Kembla Grange 63 |
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58 Growthpoint Properties Australia –– FY21 property compendium
Industrial portfolio
27-49 Lenore Drive, Erskine Park, NSW
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Location
The property is located in Erskine Park, approximately 39 kilometres west of the Sydney CBD. This site is well positioned for logistics with both the Westlink M7 and the M4 Motorway within approximately one kilometre.
| k, NSW | k, NSW |
|---|---|
| Asset summaryas at 30 June 2021 | |
| Title | Freehold |
| Site area | 76,490 sqm |
| Lettable area | 29,476 sqm |
| Occupancy | 100% |
| WALE (by income) | 2.2 years |
| Major tenant | Linfox |
| Valuation summary | |
| Book value | $89.9m |
| Valuation date | 30-Jun-21 |
| Cap rate | 4.25% |
| Discount rate | 5.75% |
Description
The property was purpose-built in 2013 and comprises a pharmaceutical logistics facility with high-clearance warehousing and temperaturecontrolled vaults. Offices and staff amenities are located over two levels. The property has a generous concrete loading yard and a large cantilevered awning for all weather loading.
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59 Growthpoint Properties Australia –– FY21 property compendium
Industrial portfolio
6-7 John Morphett Place, Erskine Park, NSW
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Location
The property is located in Erskine Park, approximately 39 kilometres west of the Sydney CBD. This site is well positioned for logistics with both the Westlink M7 and the M4 Motorway within approximately one kilometre.
| ne Park, NSW | ne Park, NSW |
|---|---|
| Asset summaryas at 30 June 2021 | |
| Title | Freehold |
| Site area | 82,280 sqm |
| Lettable area | 24,881 sqm |
| Occupancy | 100% |
| WALE (by income) | 3.7 years |
| Major tenant | Linfox |
| Valuation summary | |
| Book value | $68.5m |
| Valuation date | 30-Jun-21 |
| Cap rate | 4.25% |
| Discount rate | 5.50% |
Description
The property was constructed in 2008 and consists of a two-level office building and high-clearance warehousing facilities, with front and rear loading via a combination of recessed loading docks and ongrade roller doors.
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60 Growthpoint Properties Australia –– FY21 property compendium
Industrial portfolio
51-65 Lenore Drive, Erskine Park, NSW
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Location
The property is located in Erskine Park, approximately 39 kilometres west of the Sydney CBD. This site is well positioned for logistics with both the Westlink M7 and the M4 Motorway within approximately one kilometre.
| k, NSW | k, NSW |
|---|---|
| Asset summaryas at 30 June 2021 | |
| Title | Freehold |
| Site area | 36,720 sqm |
| Lettable area | 3,720 sqm |
| Occupancy | 100% |
| WALE (by income) | 6.7 years |
| Major tenant | Linfox |
| Valuation summary | |
| Book value | $45.0m |
| Valuation date | 30-Jun-21 |
| Cap rate | 4.00% |
| Discount rate | 5.50% |
Description
The property comprises a purpose-built truck maintenance facility constructed in 2011. It includes an expansive concrete yard for truck parking and manoeuvring.
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61 Growthpoint Properties Australia –– FY21 property compendium
Industrial portfolio
81 Derby Street, Silverwater, NSW
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Location
The property is located approximately 16 kilometres west of Sydney's CBD. The property has access to the major arterials of Sydney with the M4 Motorway and Silverwater Road within approximately one kilometre.
| W | W |
|---|---|
| Asset summaryas at 30 June 2021 | |
| Title | Freehold |
| Site area | 13,490 sqm |
| Lettable area | 8,253 sqm |
| Occupancy | 100% |
| WALE (by income) | 1.2 years |
| Major tenant | IVE Group Australia |
| Valuation summary | |
| Book value | $27.2m |
| Valuation date | 30-Jun-21 |
| Cap rate | 4.50% |
| Discount rate | 5.75% |
Description
The property was purpose built in 2000 as a printing facility with adjoining offices over two levels. Built as two adjoining units the property could be easily repurposed for warehousing.
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62 Growthpoint Properties Australia –– FY21 property compendium
Industrial portfolio
34 Reddalls Road, Kembla Grange, NSW
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Location
The property is located in the Kembla Grange industrial precinct, approximately 10 kilometres from the Wollongong CBD. It has direct access to both the Princes Highway and Princes Motorway and is near the port.
| nge, NSW | nge, NSW |
|---|---|
| Asset summaryas at 30 June 2021 | |
| Title | Freehold |
| Site area | 141,100 sqm |
| Lettable area | 355 sqm |
| Occupancy | 100% |
| WALE (by income) | 9.3 years |
| Major tenant | Autocare Services |
| Valuation summary | |
| Book value | $33.0m |
| Valuation date | 30-Jun-21 |
| Cap rate | 5.25% |
| Discount rate | 6.50% |
Description
This property is used as a motor vehicle storage facility and comprises bitumen sealed pavement, hail mesh, security gatehouse and perimeter fencing, plus a vehicle wash bay facility.
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63 Growthpoint Properties Australia –– FY21 property compendium
Industrial portfolio
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Australia
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| 1 2 3 |
pg |
|---|---|
| 599 Main North Road, Gepps Cross 65 |
|
| 1-3 Pope Court, Beverley 66 |
|
| Adelaide Airport(2 assets) | |
| – 12-16 Butler Boulevard, Adelaide Airport 67 |
|
| – 10 Butler Boulevard, Adelaide Airport 68 |
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64 Growthpoint Properties Australia –– FY21 property compendium
Industrial portfolio
599 Main North Road, Gepps Cross, SA
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Location
The property is located in Gepps Cross approximately 10 kilometres north of Adelaide's CBD. This position provides easy access to Adelaide's north and eastern suburbs via road and rail.
| ross, SA | ross, SA |
|---|---|
| Asset summaryas at 30 June 2021 | |
| Title | Freehold |
| Site area | 233,500 sqm |
| Lettable area | 91,686 sqm |
| Occupancy | 100% |
| WALE (by income) | 13.9 years |
| Major tenant | Woolworths |
| Valuation summary | |
| Book value | $224.5m |
| Valuation date | 30-Jun-21 |
| Cap rate | 4.25% |
| Discount rate | 5.25% |
Description
This Woolworths Regional Distribution Centre was purpose built in 1996 and extended in 2005 and 2020. It incorporates ambient and temperature-controlled warehouse space, a returns transfer facility and a modern two-level office building. The expansion in 2020 included installation of a 1.6 MVa roof-top solar system.
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65 Growthpoint Properties Australia –– FY21 property compendium
Industrial portfolio
1-3 Pope Court, Beverley, SA
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Location
The property is located approximately seven kilometres north-west of Adelaide's CBD with easy access to major transport routes including Port Road, and the Port of Adelaide.
| Asset summaryas at 30 June 2021 | Asset summaryas at 30 June 2021 |
|---|---|
| Title | Freehold |
| Site area | 25,660 sqm |
| Lettable area | 14,459 sqm |
| Occupancy | 100% |
| WALE (by income) | 3.1 years |
| Major tenant | Aluminium Specialties Group |
| Valuation summary | |
| Book value | $26.4m |
| Valuation date | 30-Jun-21 |
| Cap rate | 6.00% |
| Discount rate | 7.00% |
Description
The property was built in 2015 and is made up of three adjoining warehouses with internal mezzanine offices, each with separate access points.
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66 Growthpoint Properties Australia –– FY21 property compendium
Industrial portfolio
12-16 Butler Boulevard, Adelaide Airport, SA
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Location
The property is located within the Adelaide Airport precinct, approximately seven kilometres from the Adelaide CBD. The location is sought after due to its close proximity to the airport and surrounding key roadways connecting the northern and southern suburbs.
| e Airport, SA | e Airport, SA |
|---|---|
| Asset summaryas at 30 June 2021 | |
| Title | Leasehold |
| Site area | 30,621 sqm |
| Lettable area | 16,835 sqm |
| Occupancy | 100% |
| WALE (by income) | 10.1 years |
| Major tenant | Australia Post |
| Valuation summary | |
| Book value | $17.7m |
| Valuation date | 30-Jun-21 |
| Cap rate | 6.34% |
| Discount rate | 6.50% |
Description
This property was built in 2005 and comprises a warehouse complex featuring high-clearance accommodation with a main loading area and large hardstand. A single-level office adjoins the warehouse. The property is being upgraded to an automated parcel sorting facility along with other site improvements.
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67 Growthpoint Properties Australia –– FY21 property compendium
Industrial portfolio
10 Butler Boulevard, Adelaide Airport, SA
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Location
The property is located within the Adelaide Airport precinct, approximately seven kilometres from the Adelaide CBD. The location is sought after due to its close proximity to the airport and surrounding key roadways connecting the northern and southern suburbs.
| irport, SA | irport, SA |
|---|---|
| Asset summaryas at 30 June 2021 | |
| Title | Leasehold |
| Site area | 16,100 sqm |
| Lettable area | 8,461 sqm |
| Occupancy | 100% |
| WALE (by income) | 0.6 years |
| Major tenant | Toll Transport |
| Valuation summary | |
| Book value | $8.9m |
| Valuation date | 30-Jun-21 |
| Cap rate | 7.34% |
| Discount rate | 7.25% |
Description
This purpose-built facility was constructed in 2005 and comprises a high-clearance warehouse with loading to each elevation and drivearound configuration. A two-level office adjoins the front of the warehouse.
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68 Growthpoint Properties Australia –– FY21 property compendium
Industrial portfolio
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Western Australia
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| 1 | pg |
|---|---|
| Perth Airport(2 assets) | |
| – 20 Colquhoun Road, Perth Airport 70 |
|
| – Hugh Edwards Drive & Tarlton Crescent, Perth Airport 71 |
Key Airport Port
69 Growthpoint Properties Australia –– FY21 property compendium
Industrial portfolio
20 Colquhoun Road, Perth Airport, WA
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Location
The property is located within the Perth Airport precinct, approximately 15 kilometres from the Perth CBD. It has access to both air and road services with major arterials, the Leach, Tonkin and Roe Highways, all within a short distance.
| ort, WA | ort, WA |
|---|---|
| Asset summaryas at 30 June 2021 | |
| Title | Leasehold |
| Site area | 193,936 sqm |
| Lettable area | 80,374 sqm |
| Occupancy | 100% |
| WALE (by income) | 4.3 years |
| Major tenant | Woolworths |
| Valuation summary | |
| Book value | $213.0m |
| Valuation date | 30-Jun-21 |
| Cap rate | 5.13% |
| Discount rate | 6.00% |
Description
This property is a Woolworths Regional Distribution Centre, purpose built in 2007 and expanded in 2009. The property features temperaturecontrolled and ambient warehousing with multiple loading docks and office spaces throughout. It has extensive parking for cars, trucks and trailers.
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70 Growthpoint Properties Australia –– FY21 property compendium
Industrial portfolio
Hugh Edwards Drive & Tarlton Crescent, Perth Airport, WA
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Location
The property is located within the Perth Airport precinct, approximately 15 kilometres from the Perth CBD. It has access to both air and road services with major arterials, the Leach, Tonkin and Roe Highways, all within a short distance.
| scent, Perth Airport, WA | scent, Perth Airport, WA |
|---|---|
| Asset summaryas at 30 June 2021 | |
| Title | Leasehold |
| Site area | 57,617 sqm |
| Lettable area | 32,018 sqm |
| Occupancy | 100% |
| WALE (by income) | 4.7 years |
| Major tenant | Mainfreight |
| Valuation summary | |
| Book value | $57.3m |
| Valuation date | 30-Jun-21 |
| Cap rate | 6.21% |
| Discount rate | 6.73% |
Description
This asset comprises four modern industrial buildings of varying sizes mostly utilised for warehouse accommodation with one workshop. Each separate site includes office accommodation and car spaces.
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71 Growthpoint Properties Australia –– FY21 property compendium
Contact us.
This announcement was authorised for release by Growthpoint’s Board of Directors.
Retail investors
Computershare
1300 665 792 (within Australia) +61 (3) 9415 4366 (outside Australia) [email protected]
Institutional investors
Virginia Spring
Investor Relations and Communications Manager +61 (3) 8681 2933 [email protected]
Growthpoint Properties Australia Level 31, 35 Collins Street, Melbourne VIC 3000
www.growthpoint.com.au
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