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GROWTHPOINT PROPERTIES AUSTRALIA — Capital/Financing Update 2016
Feb 1, 2016
65007_rns_2016-02-01_5ee61d93-a58c-4f9d-9963-6e72a9f1b873.pdf
Capital/Financing Update
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ASX ANNOUNCEMENT GROWTHPOINT PROPERTIES AUSTRALIA (ASX Code: GOZ)
2 February 2016
Queensland Leasing Success
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Growthpoint’s largest asset, the SW1 Complex, now fully leased
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Good progress on leasing 333 Ann Street, Brisbane
Growthpoint Properties Australia ( “Growthpoint” ) is pleased to announce that it has entered into the following new leases:
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A new ten year lease of 2,004 square metres to the University of the Sunshine Coast at A4, 52 Merivale Street, South Brisbane, Queensland from 1 January 2016. The lease provides approximately $1.2 million of additional income in the first year growing at 3.75% per annum. The University of the Sunshine Coast is a publicly funded university established in 1996 and now has approximately 10,500 students.
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A new five year and seven month lease of 1,300 square metres to MasterCard at 333 Ann Street, Brisbane from 1 January 2016. Growthpoint have leased circa 4,000 square metres within 333 Ann Street since 1 July 2015 and continue to field strong enquiry for the balance of the building’s vacant space.
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Coventry Group have exercised a three year lease option over their 2,250 square metre office and warehouse building at 670 Macarthur Avenue, Pinkenba, Queensland. The property now has a 3.8 year weighted average lease expiry ( “WALE” ) as at 31 December 2015.
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Club Vitality have leased 235 square metres for eight years at A1, 32 Cordelia Street, South Brisbane, Queensland. The gym further enhances the amenity of the SW1 Complex.
Growthpoint’s Head of Property, Michael Green, commented:
“The ongoing appeal of Growthpoint’s SW1 Complex in South Brisbane has been further underlined with the addition of the University of the Sunshine Coast. Growthpoint have successfully leased over 35,000 square metres within the complex since acquiring the four towers in two tranches in 2010 and 2012. The complex is now fully leased with a combined WALE of 6.5 years as at 31 December 2015.
Growthpoint’s continued ability to attract and retain government tenants and high quality corporate tenants like MasterCard highlights both the quality of the Group’s assets and Growthpoint’s asset management skills.
These leases extend the weighted average lease expiry (WALE) of Growthpoint’s office portfolio to 7.0 years as at 31 December 2015 and the WALE of the Queensland office portfolio to 7.2 years.
Growthpoint’s industrial portfolio continues to be 100% leased at 31 December 2015 with a WALE of 6.2 years.”
Michael Green, Head of Property www.growthpoint.com.au
Media and investor enquiries should be directed to:
Aaron Hockly, Chief Operating Officer, Growthpoint Properties Australia Telephone: +61 8681 2900, [email protected]
Growthpoint Properties Australia
Growthpoint Properties Australia is a publicly traded ASX listed A-REIT (ASX Code: GOZ) that specialises in the ownership and management of quality investment property. GOZ owns interests in a diversified portfolio of 57 office and industrial properties throughout Australia valued at approximately $2.5 billion and has an investment mandate to invest in office, industrial and retail property sectors.
Growthpoint is included in the S&P/ASX 200 Index and has been issued with an investment grade rating of Baa2 for senior secured debt by Moody’s.
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GOZ aims to grow its portfolio over time and diversify its property investment by asset class, geography and tenant exposure through individual property acquisitions, portfolio transactions and corporate activity (M&A transactions) as opportunities arise.
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