GROWTHPOINT PROPERTIES AUSTRALIA

==> picture [322 x 70] intentionally omitted <==

10 April 2017

ASX ANNOUNCEMENT GROWTHPOINT PROPERTIES AUSTRALIA (ASX Code: GOZ)

Leasing Update

Growthpoint Properties Australia ( “Growthpoint” ) is pleased to announce that it has undertaken 28,323 square metres of leasing since the release of its half year results on 21 February 2017 including a 26,517 square metre logistics warehouse at 120 Link Road, Melbourne Airport to The Workwear Group (a wholly-owned subsidiary of ASX-listed Wesfarmers) for 10 years from 1 July 2017.

Successful leasing outcomes over the quarter, along with asset sales announced on 5 April 2017, mean that Growthpoint’s total portfolio occupancy as at 31 March 2017 is 98%, with 2.5% vacancy in the office portfolio and 0.3% in industrial. Growthpoint currently has only 7% of its leases (by income) potentially expiring over the next 24 months.

Further detail on Growthpoint’s lease expiry profile as at 31 March 2017 is provided below:

Vacant	2%
FY17	1%
FY18	3%
FY19	3%
FY20	12%
FY21	6%
FY22	22%
FY23+	51%

Full details of leases completed since 31 December 2016 are included in the table overleaf. Growthpoint continues to work on a number of new and extended leases and expects to be able to make further announcements on leasing success before the end of the financial year.

	Growthpoint’s Key Metricsat 31 March 2017Total property portfoliovalueDistribution guidance FY17	Growthpoint’s Key Metricsat 31 March 2017Total property portfoliovalueDistribution guidance FY17	$3.1 billion21.5 cents

	Number of properties		57

	Office / industrial		65% / 35%
	Average property age		9.5 years

	Occupancy		98%
	Weighted average leaseexpiry		6.1 years

	Weighted average rent		3.2%
	review
	(assumes CPI of 1.5%)

	Weighted average		6.7%
	capitalisation rate
	NTA per stapled security		$2.72
	(as at 31 December 2016)

	Balance sheet gearing(pro forma after asset		39.4%
	sales referred to in ASX
	announcement of 5 April2017)

	Percentage debt fixed		>75%
	(post settlement of USPP
	in June 2017)

	Average debt maturity post		5.3 years
	settlement of USPP(pro forma 31 December2016)Average NABERS rating(energy)		4.4 stars

Growthpoint’s Head of Property, Michael Green, said:

“We welcome The Workwear Group as a new industrial tenant to our portfolio, along with four new or extended leases to tenants in our office properties. These transactions reaffirm Growthpoint’s leasing credentials and demonstrate the desirability of Growthpoint’s property portfolio. Securing a tenant of the quality of The Workwear Group less than two months after the previous tenant vacated 120 Link Road is a tremendous result.

Growthpoint is committed to growing distributions for its Securityholders in a sustainable way. Taking positive action to address upcoming vacancies at least two years in advance has helped Growthpoint maintain high average occupancy levels, which have remained in excess of 97% across the property portfolio over the past 5 years.

Growthpoint will continue to act with immediacy, and in advance of potential expiries, to lease up vacant space within its portfolio.”

Growthpoint Properties Australia Trust ARSN 120 121 002 Growthpoint Properties Australia Limited ABN 33 124 093 901 AFSL 316409

==> picture [30 x 36] intentionally omitted <==

Leasing undertaken since 31 December 2016

Property	Sector	Tenant	Startdate	Term	Annualrentincreases	Netlettablearea(sqm)	Carparks
A4, 52 Merivale Street, SouthBrisbane, Qld	Office	Subway Realty	Q3, FY17	7.0	4.00%	81	-
333AnnStreet,Brisbane, Qld	Office	FrontierSoftware	Q3,FY17	6.2	4.00%	333	4
102 Bennelong Parkway,Sydney Olympic Park, NSW	Office	Charles SturtUniversity	Q4, FY17	1.0	Notapplicable	470	11
Building C, 211 WellingtonRoad, Mulgrave, Vic	Office	GuardianCommunity EarlyLearning Centres	Q4, FY17	10.0	3.25%	922	57
120 Link Road, MelbourneAirport, Vic	Industrial	The WorkwearGroup	Q1, FY18	10.0	Greater ofCPI &3.5%	26,517	135
Total / Weighted Average	-	-	-	9.0	3.5%	28,323	207

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 is a publicly traded ASX listed A-REIT (ASX Code: GOZ) that specialises in the ownership and management of quality investment property. After allowing for recently announced transactions, Growthpoint owns interests in a diversified portfolio of 57 office and industrial properties throughout Australia valued at approximately $3.1 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.

Growthpoint 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.

Page 2 of 2

AI assistant