Charter Hall Group Property Portfolio Period ending 30 June 2013 2 / Contents Contents
Charter Hall Group 4 Industrial Core Plus Industrial Fund (CPIF) 80 Our funds, partnerships & mandates 6 Direct Industrial Fund (DIF1) 98 Office Direct Industrial Fund No.2 (DIF2) 106 Charter Hall Office Trust (CHOT) 10 Core Logistics Partnership (CLP) 110 Core Plus Office Fund (CPOF) 24 Diversified Office mandates 38 PFA Diversified Trust (PFA) 114 Charter Hall Direct Property Fund (CHDPF) 40 Charter Hall Opportunity Fund No.4 (CHOF4) 124 130 Stirling Street (CHIF7) 52 Charter Hall Opportunity Fund No.5 (CHOF5) 126 144 Stirling Street (CHIF8) 54 Diversified Property Fund (DPF) 130 685 LaTrobe Street Melbourne 56 No. 1 Martin Place Trust (1MPT) 58 Index 136 Retail Further Information 141 Charter Hall Retail REIT (CQR) Listed REIT 62 Retail Partnership No.1 70 Retail Partnership No.2 72 Bunnings Partnership 74 Charter Hall Direct Retail Fund (DRF) 76
(Cover) Bankwest Place and Raine Square, Perth WA Charter Hall Property Portfolio / 30 June 2013 / 3
Funds under management $10.3 billion Number of properties 203 Occupancy1 97% Weighted Average Lease Expiry (WALE)1 6.1 years Weighted Average Rental Review1 3.8%”
Note: 1. Represents entire Charter Hall Funds Management platform Wanneroo Central, Wanneroo WA 4 / Charter Hall Group Charter Hall Group
Charter Hall is one of Australia’s leading fully integrated property groups, with over 22 years’ experience managing high quality property on behalf of institutional, wholesale and retail clients.
We have a $10.3 billion predominately Australian property spectrum from investment management to property portfolio focused on the core real estate sectors of office, management to development. retail and industrial. We are the largest third party manager We believe sustainability is a key element to good business of Australian office and grocery anchored retail centre and that by ensuring our actions are not only commercially assets, and have the third largest managed industrial sound but that they make a difference to our people, our property portfolio. customers and the environment in which we work and live, As an integrated property group, our 300 plus employees we can contribute in a positive way. deliver professional services across the full property
Charter Hall Funds Management Platform As at 30 June 2013
1% 59% Office 59% 11% Retail 29% Industrial 11% Residential 1%
29%
Total Office Retail Industrial Residential No. of properties 203 56 105 39 3
NLA 2,750,323sqm 1,052,211sqm 915,617sqm 782,495sqm n/a
Value $10.3bn $6.1bn $3.0bn $1.1bn $0.1bn
Charter Hall Property Investment Portfolio1 As at 30 June 2013
13% 52% Office 52% Retail 35% Industrial 13%
35%
Total Office Retail Industrial Residential Investments $603m $311m $213m $79m $0m
Note: 1. Includes Charter Hall Group direct property and investment in property funds, excludes development investments and investment in CIP Charter Hall Property Portfolio / 30 June 2013 / 5
Charter Hall aims to outperform investment benchmarks, achieving high levels of tenant retention and rental growth across 203 assets1.
Northern Territory
Queensland
Western Australia
South Australia
New South Wales
ACT
Victoria
Australian Capital Territory 5 properties Tasmania Office 1 Retail 4
New South Wales Queensland Western Australia 71 properties 38 properties 25 properties Office 22 Office 8 Office 9 Retail 44 Retail 17 Retail 11 Industrial 5 Industrial 13 Industrial 5
Victoria South Australia Tasmania Residential 36 properties 6 properties 6 properties 3 properties Office 12 Office 3 Office 1 New South Wales 2 Retail 11 Retail 2 Retail 3 Victoria 1 Industrial 13 Industrial 1 Industrial 2
Note: 1. Includes offshore assets. 7 Europe, 3 USA and 3 New Zealand. 6 / Our funds and partnerships Our funds, partnerships & mandates As at 30 June 2013
Office Retail Charter Hall Office Trust (CHOT) Charter Hall Retail REIT (CQR) Listed REIT Assets 18 Grocery anchored Australian portfolio 74 Gross property assets $2,031 million Gross property assets $1,658 million Balance sheet gearing 45.8% Balance sheet gearing3 29.7% Capitalisation Rate 7.73% WALE (all tenancies) 7.1 years WALE 4.4 years Occupancy 98% Occupancy 97% Charter Hall co-investment $103.1 million (9.2%) Charter Hall co-investment $159.0 million (14.5%) Retail Partnership No.1 (RP1) Core Plus Office Fund (CPOF)1 Assets 10 Assets 15 Gross property assets $393 million Gross property assets $1,793 million Balance sheet gearing 41.2% Balance sheet gearing 39.4% Capitalisation Rate 7.67% Capitalisation Rate 7.77% WALE 12.4 years WALE 5.2 years Occupancy 99% Occupancy 97% Bateau Bay Square (RP2) Charter Hall co-investment $114.7 million (12.3%) Assets 1 Charter Hall Direct Property Fund (CHDPF) Gross property assets $164.0 million Assets 9 Balance sheet gearing 45.8% Gross property assets $491 million Capitalisation Rate 8.00% Balance sheet gearing 47.3% WALE 3.9 years Capitalisation Rate 8.33% Occupancy 99% WALE 4.3 years Charter Hall co-investment $17.7 million (20.0%) Occupancy 95% Bunnings Partnership (BP Fund) Charter Hall co-investment $10.7 million (4.0%) Assets 10 130 Stirling Street Trust (CHIF7) Gross property assets $238.7 million Assets 1 Balance sheet gearing 55.0% Gross property assets $84 million Capitalisation Rate 7.58% Balance sheet gearing 39.9% WALE 12.0 years Capitalisation Rate 8.50% Occupancy 100% WALE 5.8 years Charter Hall co-investment $14.3 million (13.0%) Occupancy 100% Charter Hall Direct Retail Fund (DRF) 144 Stirling Street Trust (CHIF8) Assets 2 Assets 1 Gross property assets $55.5 million Gross property assets $57 million Balance sheet gearing 45.5% Balance sheet gearing 40.2% Capitalisation Rate 10.29% Capitalisation Rate 8.50% WALE 4.3 years WALE 6.7 years Occupancy 98% Occupancy 100% Charter Hall co-investment $55.2 million (100%) No.1 Martin Place Trust (1MPT)2 Assets 1 Gross property assets $210 million Balance sheet gearing 36.0% Capitalisation Rate 6.70% WALE 3.1 years Occupancy 100%
Note: 1. Excludes forecast completion value of 100 Skyring Terrace 2. Sold post balance date 3. Post initiatives Charter Hall Property Portfolio / 30 June 2013 / 7
Industrial Diversified Core Plus Industrial Fund (CPIF) PFA Diversified Trust (PFA) Assets 21 Assets 11 Gross property assets $560 million Gross property assets $370 million Balance sheet gearing 1.2% Balance sheet gearing 51.8% Capitalisation Rate 8.30% Capitalisation Rate 9.21% WALE 9.6 years WALE 3.9 years Occupancy 99% Occupancy 94% Charter Hall co-investment $56.7 million (13.1%) Charter Hall co-investment $0.2 million (0.1%) Core Logistics Partnership (CLP) Charter Hall Opportunity Fund No.4 (CHOF4) Assets 6 Assets 1 Gross property assets $232.1 million WALE (all tenancies) 5.5 years Balance sheet gearing 0% Occupancy 99% Capitalisation Rate 8.10% Charter Hall Opportunity Fund No.5 (CHOF5) WALE 12.2 years Occupancy 100% Assets 5 Charter Hall co-investment $10.8 million (5.3%) Gross property assets $277 million Charter Hall co-investment 15% Direct Industrial Fund (DIF1) Diversified Property Fund (DPF) Assets 7 Gross property assets $211 million Assets 5 Balance sheet gearing 38.3% Gross property assets $70 million Capitalisation Rate 8.00% Balance sheet gearing 44.3% WALE 12.2 years Capitalisation Rate 8.35% Occupancy 100% WALE 5.5 years Charter Hall co-investment $0.2 million (0.2%) Occupancy 100% Charter Hall co-investment $8.1 million (19.6%) Direct Industrial Fund No.2 (DIF2) Charter Hall Investment Funds (CHIF) 3 & 6 Assets 2 Gross property assets $55 million Assets 2 Balance sheet gearing 0% Gross property assets $23 million Capitalisation Rate 7.92% WALE 7.6 years WALE 14.9 years Occupancy 100% Occupancy 100% Charter Hall Umbrella Fund (CHUF) Assets nil Gross property assets $116 million Balance sheet gearing 0% WALE 6.3 years Occupancy 96% Charter Hall co-investment $30.1 million (24.2%) 8 / Office Office
Bankwest Place 300 Murray Street, Perth WA Charter Hall Property Portfolio / 30 June 2013 / 9 10 / Office / Charter Hall Office Trust
Argus Centre, 300 LaTrobe Street, Melbourne Vic Charter Hall Property Portfolio / 30 June 2013 / 11 Charter Hall Office Trust
Charter Hall Office Trust is a leading unlisted wholesale real estate partnership focused on investing in high grade office buildings predominantly located in major business districts across Australia.
Top 10 tenants By gross income
17% Australian Government
9% Macquarie Group Ltd
7% Telstra Corporation Ltd
4% Citigroup
3% Aurizon
3% Allianz
2% Wilson Parking
2% Gilbert & Tobin
2% Mediacom
2% Caltex
Annual lease expiry By net lettable area
3% Vacant
7% FY14
22% FY15
11% FY16
11% FY17
45% FY18+ 12 / Office / Charter Hall Office Trust Fund Statistics
Asset diversification Tenant type diversification By current value By gross income
2 Park St, Sydney NSW 19% No.1 Martin Place, Sydney NSW 10% 2 Market St, Sydney NSW 9% 17% 65%1 59 Goulburn St, Sydney NSW 4% The Denison 65 Berry Street, North Sydney NSW 5% Charter Grove 29-57 Christie St, St Leonards NSW 4% Avaya House 123 Epping Rd, North Ryde NSW 4% 18% Wentworth Place 9 Wentworth St, Parramatta NSW 1% ATO 266 King St, Newcastle NSW 2%
Argus Centre 300 LaTrobe St, Melbourne Vic 8% Investment grade 65%1 150 Lonsdale St, Melbourne Vic 7% Other 18% 171 Collins St, Melbourne Vic (Development) 6% Government 17% 5 Queens Rd, Melbourne Vic 3% ATO Moonee Ponds 6-20 Gladstone St, Melbourne Vic 4% 175 Eagle St, Brisbane Qld 7% Capital Hill 83-85 George St, Brisbane Qld 3% Eastpoint Plaza 233-237 Adelaide Terrace, Perth WA 3%
NABERS Energy Rating (with GreenPower) 2 Park St, Sydney NSW Argus Centre 300 LaTrobe St, Melbourne Vic
No.1 Martin Place, Sydney NSW 150 Lonsdale St, Melbourne Vic
2 Market St, Sydney NSW 5 Queens Rd, Melbourne Vic
59 Goulburn St, Sydney NSW ATO Moonee Ponds, Melbourne Vic
The Denison, North Sydney NSW 175 Eagle St, Brisbane Qld
Charter Grove, St Leonards NSW Capital Hill, Brisbane Qld
Avaya House, North Ryde NSW Eastpoint Plaza, Perth WA
Wentworth Place, Parramatta NSW Australia Place, Canberra ACT
ATO, Newcastle NSW
Note: 1. Includes widely recognised professional service firms Charter Hall Property Portfolio / 30 June 2013 / 13 Property Portfolio
June 2013 Capitalisation Rate 7.73% June 2013 Discount Rate 9.19%”
CHOT Jun 2013 WALE (years) Weighted Avg Ownership % valuation A$M rent reviews (%) 2 Park St, Sydney NSW 50% 385.0 4.9 3.9%
No.1 Martin Place, Sydney NSW1 50% 210.0 3.1 4.2%
2 Market St, Sydney NSW 50% 178.5 5.1 4.0%
59 Goulburn St, Sydney NSW 100% 86.0 2.4 3.9%
The Denison 65 Berry Street, North Sydney NSW 100% 88.0 4.9 4.0%
Charter Grove 29-57 Christie St, St Leonards NSW 100% 83.0 3.6 4.2%
Avaya House 123 Epping Rd, North Ryde NSW 100% 75.5 2.7 3.7%
Wentworth Place 9 Wentworth St, Parramatta NSW 100% 25.4 4.0 3.5%
ATO 266 King St, Newcastle NSW 100% 47.8 3.8 3.5%
Argus Centre 300 LaTrobe St, Melbourne Vic 100% 167.1 9.1 3.6%
150 Lonsdale St, Melbourne Vic 100% 135.0 1.8 3.6%
171 Collins St, Melbourne Vic 50% 115.5 9.8 3.8%
5 Queens Rd, Melbourne Vic 100% 66.0 2.7 3.8%
ATO Moonee Ponds 6-20 Gladstone St, Melbourne Vic 100% 81.0 6.6 4.0%
175 Eagle St, Brisbane Qld 100% 150.5 5.1 4.2%
Capital Hill 83-85 George St, Brisbane Qld 100% 48.5 2.8 3.5%
Eastpoint Plaza 233-237 Adelaide Terrace, Perth WA 100% 62.8 2.8 4.2%
Australia Place 14 Mort St, Canberra ACT 100% 25.5 2.5 0.0%
Total/Weighted average 2,031.0 4.4 3.8%
Note: 1. CHOT acquired remaining 50% interest in No.1 Martin Place from it’s JV partner post 30 June 2013, taking it’s interest in the asset to 100%. 14 / Office / Charter Hall Office Trust
Allianz Centre, 2 Market Street, Sydney NSW Charter Hall Property Portfolio / 30 June 2013 / 15
CitiCentre No.1 Martin Place, 2 Park Street, Sydney NSW Sydney NSW
Premium grade 47 level office tower located in the Sydney Prime office building located in the Sydney CBD on the CBD directly opposite the Queen Victoria Building and prestigious GPO site in Martin Place. Sydney Town Hall.
Summary Summary Year built (or refurbished) 2000 Year built (or refurbished) 1999 Grade Premium Grade Prime Ownership 50% Ownership 50%1 JV partner General Property Trust (GPT) JV partner No. 1 Martin Place Trust1 Total NLA (sqm) 73,582 Total NLA (sqm) 40,237 Typical floor plate (sqm) 1,865 Typical floor plate (sqm) 1,672 Car spaces 284 Car spaces 374 Valuation (30 June 2013) Valuation (30 June 2013) Valuation (50%) $385.0 million Valuation (50%) $210.0 million1 Value ($/sqm) $10,423 Value ($/sqm) $10,438 Last external valuation date 31 December 2012 Last external valuation date 31 December 2012 Valuer CBRE Valuer Colliers Tenancy statistics Tenancy statistics WALE (by income) 4.9 years WALE (by income) 3.1 years Occupancy 94.5% Occupancy 90% Major tenants NLA (sqm) Major tenant NLA (sqm) Citi 25,488 Macquarie Group Ltd 36,364 Gilbert and Tobin 9,280 Royal Bank of Canada 6,987
Note: 1. CHOT acquired remaining 50% interest in the asset from its JV Partner post 30 June 2013. 16 / Office / Charter Hall Office Trust
Allianz Centre 59 Goulburn Street, 2 Market Street, Sydney NSW Sydney NSW
A 24 level, A-grade building with an adjoining seven level A 28 level, A-grade office tower located between George forecourt building located in the western corridor of the and Pitt Streets, opposite World Square. Sydney CBD.
Summary Summary Year built (or refurbished) 1991 (2007 forecourt) Year built (or refurbished) 1973 (2001) Grade A Grade A Ownership 50% Ownership 100% JV partner Allianz Total NLA (sqm) 19,586 Total NLA (sqm) 39,818 Typical floor plate (sqm) 858 Typical floor plate (sqm) 1,954 (main) Car spaces 135 Car spaces 301 Valuation (30 June 2013) Valuation (30 June 2013) Valuation $86.0 million Valuation (50%) $178.5 million Value ($/sqm) $4,390 Value ($/sqm) $8,955 Last external valuation date 31 December 2012 Last external valuation date 31 December 2012 Valuer Savills Valuer Knight Frank Tenancy statistics Tenancy statistics WALE (by income) 2.4 years WALE (by income) 5.1 years Occupancy 97% Occupancy 100% Major tenants NLA (sqm) Major tenants NLA (sqm) Dept of Environment and Heritage (NSW) 10,996 Allianz 18,909 Charles Parsons 1,669 Caltex 9,201 BDO Kendalls 3,952 Charter Hall Property Portfolio / 30 June 2013 / 17
The Denison Charter Grove 65 Berry Street, North Sydney NSW 29-57 Christie Street, St Leonards NSW
A modern 18 level office building centrally located within the A modern seven level, A-grade office building and adjoining North Sydney CBD. sports and community complex located in the St Leonards business district.
Summary Summary Year built (or refurbished) 1986 Year built (or refurbished) 1990 Grade A Grade A Ownership 100% Ownership 100% Total NLA (sqm) 15,123 Total NLA (sqm) 18,081 Typical floor plate (sqm) 873 Typical floor plate (sqm) 2,155 Car spaces 157 Car spaces 285 Valuation (30 June 2013) Valuation (30 June 2013) Valuation $88.0 million Valuation $83.0 million Value ($/sqm) $5,819 Value ($/sqm) $4,590 Last external valuation date 31 December 2012 Last external valuation date 31 December 2012 Valuer Knight Frank Valuer m3 Property Tenancy statistics Tenancy statistics WALE (by income) 4.9 years WALE (by income) 3.6 years Occupancy 94% Occupancy 100% Major tenants NLA (sqm) Major tenants NLA (sqm) MediaCom 6,941 Coca Cola Amatil (Australia) 4,313 Reckon 2,442 Australian Rugby Union (ARU) 3,679 Fitness First 3,056 18 / Office / Charter Hall Office Trust
Avaya House Wentworth Place 123 Epping Road, Macquarie Park NSW 9 Wentworth Street, Parramatta NSW
A modern 10 level, A-grade office building prominently A recently refurbished and upgraded seven level building, located in one of Australia’s premier technology precincts. well located in the Parramatta CBD.
Summary Summary Year built (or refurbished) 2000 Year built (or refurbished) 1988 Grade A Grade A Ownership 100% Ownership 100% Total NLA (sqm) 16,281 Total NLA (sqm) 7,672 Typical floor plate (sqm) 1,774 Typical floor plate (sqm) 1,220 Car spaces 534 Car spaces 97 Valuation (30 June 2013) Valuation (30 June 2013) Valuation $75.5 million Valuation $25.4 million Value ($/sqm) $4,637 Value ($/sqm) $3,304 Last external valuation date 31 December 2012 Last external valuation date 31 December 2012 Valuer Knight Frank Valuer CBRE Tenancy statistics Tenancy statistics WALE (by income) 2.7 years WALE (by income) 4.0 years Occupancy 100% Occupancy 84% Major tenants NLA (sqm) Major tenant NLA (sqm) Avaya Australia 5,050 Dept of Immigration & Citizenship 5,972 Amgen Australia 2,739 Charter Hall Property Portfolio / 30 June 2013 / 19
Australian Taxation Office Argus Centre 266 King Street, Newcastle NSW 300 LaTrobe Street, Melbourne Vic
A modern nine level, A-grade office building located within A modern 34 level, A-grade office tower located opposite the civic precinct of the Newcastle CBD. Melbourne Central Railway Station in the Flagstaff Precinct of Melbourne’s CBD, inclusive of 10 levels of car parking, comprising 520 car bays.
Summary Summary Year built (or refurbished) 1989 Year built (or refurbished) 1991 (2012) Grade A Grade A Ownership 100% Ownership 100% Total NLA (sqm) 14,157 Total NLA (sqm) 33,051 Typical floor plate (sqm) 1,682 Typical floor plate (sqm) 1,487 Car spaces 64 Car spaces 520 Valuation (30 June 2013) Valuation (30 June 2013) Valuation $47.8 million Valuation $167.1 million Value ($/sqm) $3,376 Value ($/sqm) $5,057 Last external valuation date 31 December 2012 Last external valuation date 31 December 2012 Valuer CBRE Valuer CBRE Tenancy statistics Tenancy statistics WALE (by income) 3.8 years WALE (by income) 9.1 years Occupancy 100% Occupancy 100% Major tenant NLA (sqm) Major tenants NLA (sqm) Australian Taxation Office 14,157 Telstra Corporation Ltd 23,482 Department of Veteran Affairs 4,749 20 / Office / Charter Hall Office Trust
150 Lonsdale Street, 171 Collins Street, Melbourne Vic Melbourne Vic
A refurbished 29 level, A-grade office building located in the Developed by Charter Hall and Cbus Property and designed north eastern section of the Melbourne CBD. by Bates Smart, 171 Collins Street is Victoria’s first Premium Grade building having achieved a 6 star Green Star – Office Design (v2) rating, representing ‘World Leadership’ in environmentally sustainable design and is targeting a 6 star NABERS Energy rating. Located on the prestigious ‘Paris-end’ of Collins Street, the building comprises 31,000sqm of office space across 17 floors in a new generation tower and seven levels of boutique office space in the heritage listed Mayfair building.
Summary Summary Year built (or refurbished) 1974 (2005) Year built (or refurbished) 2013 Grade A Grade Premium Ownership 100% Ownership 50% Total NLA (sqm) 28,744 JV partner Cbus Property Typical floor plate (sqm) 1,130 Total NLA (sqm) 33,092 Car spaces 647 Typical floor plate (sqm) 1,823 Valuation (30 June 2013) Car spaces 136 Valuation $135.0 million Valuation (30 June 2013) Value ($/sqm) $4,695 Valuation (50%) $115.5 million Last external valuation date 31 December 2012 Value ($/sqm) $6,950 Valuer m3 Property Last external valuation date 31 May 2013 Tenancy statistics Valuer Savills WALE (by income) 1.8 years Tenancy statistics Occupancy 100% WALE (by income) 9.8 years Major tenants NLA (sqm) Occupancy 54% Telstra Corporation Ltd 13,783 Major tenants NLA (sqm) Superpartners 4,317 BHP Billiton 14,166 GMK Centric Services 2,717 Evans and Partners 1,690 GHD 2,485 Egon Zhender 1,000 Dolce & Gabbana 320 Charter Hall Property Portfolio / 30 June 2013 / 21
5 Queens Road, Australia Taxation Office Melbourne Vic 6-20 Gladstone Street, Moonee Ponds Vic
An 11 level, A-grade office building situated in the midst of A seven level, A-grade office building situated in Moonee the St Kilda Road office precinct, opposite Albert Park. Ponds in Melbourne’s north west.
Summary Summary Year built (or refurbished) 1989 Year built (or refurbished) 1991 Grade A Grade A Ownership 100% Ownership 100% Total NLA (sqm) 17,726 Total NLA (sqm) 21,034 Typical floor plate (sqm) 1,670 Typical floor plate (sqm) 2,862 Car spaces 323 Car spaces 120 Valuation (30 June 2013) Valuation (30 June 2013) Valuation $66.0 million Valuation $81.0 million Value ($/sqm) $3,723 Value ($/sqm) $3,664 Last external valuation date 31 December 2012 Last external valuation date 31 December 2012 Valuer Jones Lang LaSalle Valuer m3 Property Tenancy statistics Tenancy statistics WALE (by income) 2.7 years WALE (by income) 6.6 years Occupancy 100% Occupancy 100% Major tenants NLA (sqm) Major tenant NLA (sqm) Beca 5,041 Australian Taxation Office 22,107 Leighton Contractors Pty Ltd 3,362 ISIS 2,827 Unico 2,405 22 / Office / Charter Hall Office Trust
175 Eagle Street Capital Hill Brisbane Qld 83-85 George Street, Brisbane Qld
An A-grade quality riverfront property situated within the An 18 level office building located within the Queensland ‘Golden Triangle’ of the Brisbane CBD. Government office precinct in the Brisbane CBD.
Summary Summary Year built (or refurbished) 2002 Year built (or refurbished) 1989 Grade A Grade B Ownership 100% Ownership 100% Total NLA (sqm) 22,851 Total NLA (sqm) 10,516 Typical floor plate (sqm) 1,159 Typical floor plate (sqm) 581 Car spaces 162 Car spaces 105 Valuation (30 June 2013) Valuation (30 June 2013) Valuation $150.5 million Valuation $48.5 million Value ($/sqm) $6,586 Value ($/sqm) $4,612 Last external valuation date 31 December 2012 Last external valuation date 31 December 2012 Valuer CBRE Valuer Colliers Tenancy statistics Tenancy statistics WALE (by income) 5.1 years WALE (by income) 2.8 years Occupancy 87% Occupancy 100% Major tenants NLA (sqm) Major tenant NLA (sqm) Aurizon 10,727 State of Qld - Dept Main Roads 8,780 AON Risk Services 1,890 Charter Hall Property Portfolio / 30 June 2013 / 23
Eastpoint Plaza Australia Place 233-237 Adelaide Terrace, Perth WA 14 Mort Street, Canberra ACT
A 13 level B-grade office building well located in the eastern A modern eight level A-grade commercial office building end of Perth’s CBD. with basement parking located in the civic precinct of the Canberra CBD.
Summary Summary Year built (or refurbished) 1982 Year built (or refurbished) 1996 Grade B Grade A Ownership 100% Ownership 100% Total NLA (sqm) 11,672 Total NLA (sqm) 9,384 Typical floor plate (sqm) 1,050 Typical floor plate (sqm) 900 Car spaces 89 Car spaces 67 Valuation (30 June 2013) Valuation (30 June 2013) Valuation $62.8 million Valuation $25.5 million Value ($/sqm) $5,376 Value ($/sqm) $2,718 Last external valuation date 31 December 2012 Last external valuation date 31 December 2012 Valuer Jones Lang LaSalle Valuer Jones Lang LaSalle Tenancy statistics Tenancy statistics WALE (by income) 2.8 years WALE (by income) 2.5 years Occupancy 100% Occupancy 100% Major tenants NLA (sqm) Major tenants NLA (sqm) Minister for Works (Health & Police) 6,094 Dept of Innovation, Industry, Science, 4,942 Research, and Tertiary Education Goldfields Gas Transmissions Pty Ltd 1,472 Dept of Education and Training 4,442 24 / Office / Core Plus Office Fund
Brisbane Square, Brisbane Qld Charter Hall Property Portfolio / 30 June 2013 / 25 Core Plus Office Fund
Charter Hall’s Core Plus Office Fund (CPOF) is the Group’s largest wholesale pooled fund. Launched in 2006, the Fund targets the office property sector in the major capital city markets of Australia.
Top 10 tenants By gross income
12% Telstra Corporation Ltd
11% Australian Government
9% Westpac Group
7% BHP Billiton
4% Bupa
3% Queensland Gas Company Ltd
2% Suncorp
2% Secure Car Park Management
2% Parsons Brinckerhoff
Annual lease expiry By net lettable area
8% 3% Core Vacancy Vacant 5% Vacant due to asset redevelopment underway 8% FY14
14% FY15
9% FY16
8% FY17
17% FY18
11% FY19
25% FY20+ 26 / Office / Core Plus Office Fund Fund Statistics
Asset diversification Tenant type diversification By current value By gross income
167 Macquarie Street, Sydney NSW 5% St George Bank, Kogarah, Sydney NSW 6% 331 & 333 George Street, Sydney NSW 4% 14% 69% 9 Castlereagh Street, Sydney NSW 9% 11 Exhibition Street, Melbourne Vic 10% 570 Bourke Street, Melbourne Vic 10% Brisbane Square, Brisbane Qld 7% 17% 275 George Street, Brisbane Qld 10% Northbank Plaza, Brisbane Qld 9%
100 Skyring Terrace, Brisbane Qld 5% National and international 69% 51 Pirie Street, Adelaide SA 1% Government and government related 17% Bank SA, Adelaide SA 1% Other 14% 225 St Georges Terrace, Perth WA 11%
109 St Georges Terrace, Perth WA 4% Geographical diversification Bankwest Place 300 Murray Street, Perth WA 8% By current value
2% 32%
23%
24% 19%
Queensland 32% Victoria 19% New South Wales 24% Western Australia 23% South Australia 2% Charter Hall Property Portfolio / 30 June 2013 / 27
Weighted Average Lease Expiry (years) By gross income
9.3 Bankwest Place, Perth WA
8.6 Brisbane Square, Brisbane Qld
8.2 St George Bank, Kogarah NSW
8.2 Bank SA, Adelaide SA
7.8 100 Skyring Terrace, Brisbane Qld
6.1 11 Exhibition Street, Melbourne Vic
6.0 275 George Street, Brisbane Qld
4.3 Northbank Plaza, Brisbane Qld
3.8 109 St Georges Terrace, Perth WA
3.7 167 Macquarie Street, Sydney NSW
3.2 51 Pirie Street, Adelaide SA
2.5 9 Castlereagh Street, Sydney NSW
2.4 570 Bourke Street, Melbourne Vic
2.3 225 St Georges Terrace, Perth WA
0.6 331 George Street, Sydney NSW
0.4 333 George Street, Sydney NSW
4.7 WALE 28 / Office / Core Plus Office Fund Property Portfolio
June 2013 Capitalisation Rate 7.77% June 2013 Discount Rate 9.26%”
CPOF Jun 2013 WALE (years) Weighted Avg Ownership % valuation A$M rent reviews (%) 167 Macquarie Street, Sydney NSW 100% 87.0 3.7 3.79%
St George Bank, Kogarah NSW 100% 118.0 8.2 CPI (3.0%)
331 & 333 George Street, Sydney NSW 100% 72.9 0.4 3.79%
9 Castlereagh Street, Sydney NSW 100% 177.0 2.5 4.08%
11 Exhibition Street, Melbourne Vic 100% 183.0 6.1 4.12%
570 Bourke Street, Melbourne Vic 100% 178.0 2.4 3.52%
Brisbane Square, Brisbane Qld 33% 136.7 8.6 3.43%
275 George Street, Brisbane Qld 50% 187.5 6.0 4.45%
Northbank Plaza, Brisbane Qld 100% 165.5 4.3 4.55%
100 Skyring Terrace, Brisbane Qld 50% 87.8 7.8 4.00%
51 Pirie Street, Adelaide SA 100% 14.0 3.2 3.79%
Bank SA, Adelaide SA 100% 20.5 8.2 CPI (3.0%)
225 St Georges Terrace, Perth WA 100% 200.0 2.3 5.14%
109 St Georges Terrace, Perth WA 100% 80.0 3.8 3.78%
Bankwest Place 300 Murray Street, Perth WA 33% 154.0 9.3 3.86%
Total/Weighted average1 1,861.9 4.7 4.05%
Note: 1. Forecast completion value Charter Hall Property Portfolio / 30 June 2013 / 29
570 Bourke Street, Melbourne Vic 30 / Office / Core Plus Office Fund
331 and 333 George Street, 9 Castlereagh Street, Sydney NSW ( core/development inventory) Sydney NSW (core)
Artist’s Impression
Prominently located on the corner of George Street and Completed in 1989, 9 Castlereagh Street is a unique, Harry Martin Place in Sydney’s CBD, the property comprises a Seidler designed landmark office tower. The property has 31 15 level refurbished office tower built in 1971. 331 George upper office levels and ground floor retail incorporating a café Street is a standalone three level retail terrace building, which and childcare facility at the rear. There is basement car parking is currently fully leased. for 79 vehicles, including 29 self-park car spaces on the upper 331 George Street was acquired by CPOF as part of a basement and access to a car stacker which provides parking strategic site consolidation plan, which is part of a medium for a further 50 vehicles in the lower basement. to long term strategy to redevelop the combined properties into an integrated A-grade retail and office building.
Summary 331 333 Summary Year built (or refurbished) n/a 1971 Year built (or refurbished) 1989 Grade Retail B Grade A Ownership 100% 100% Ownership 100% Total NLA (sqm) 138 9,882 Total NLA (sqm) 21,044 Typical floor plate (sqm) 138 730 Typical floor plate (sqm) 760 Car spaces 0 16 Car spaces 79 Valuation (30 June 2013) Valuation (30 June 2013) Valuation $5.4 million $67.5 million Valuation $177.0 million Value ($/sqm) - Office n/a $5,244 Value ($/sqm) $8,463 - Retail $39,855 $17,608 Last external valuation date 30 June 2013 Last external valuation date 30 June 2013 30 June 2013 Valuer m3 Property Valuer Colliers Colliers Tenancy statistics Tenancy statistics WALE (by income) 2.5 years WALE (by income) 0.6 years 0.4 years Occupancy 87.4% Occupancy1 100% 69.3% Major tenants NLA (sqm) Major tenants NLA (sqm) NLA (sqm) Talent 2 1,329 Charter Hall n/a 1,799 Van Eyk Research 917 Bar 333 (Ryans Hotels) n/a 1,089 Morgan Lewis Attorneys 746 Australian Ugg 138 n/a
Note: 1. Building is being prepeared for redevelopment Charter Hall Property Portfolio / 30 June 2013 / 31
167 Macquarie Street, St George Bank Sydney NSW (core) 4-16 Montgomery Street, Kogarah NSW (core)
Located in the prestigious financial core of Sydney’s CBD, St George House is well positioned on the southern rail Macquarie House is a refurbished A grade office tower network, providing the Bank with an excellent ability to tap offering spectacular views across the Royal Botanic Gardens into the large southern Sydney workforce. St George House and Sydney Harbour. comprises a purpose built commercial complex, spanning The building spans 19 levels consisting two ground level eight levels featuring extensive office space, a bank branch retail tenancies. and car spaces. In addition to the office space and bank branch, the property incorporates a cafeteria, community centre, child care centre, auditorium, gymnasium, outdoor area, tennis court and running track.
Summary Summary Year built (or refurbished) 1970 (2005) Year built (or refurbished) 1990 Grade A Grade A Ownership 100% Ownership 100% Total NLA (sqm) 9,734 Total NLA (sqm) 31,398 Typical floor plate (sqm) 780 Typical floor plate (sqm) 1,965 Car spaces 78 Car spaces 595 Valuation (30 June 2013) Valuation (30 June 2013) Valuation $87.0 million Valuation $118.0 million Value ($/sqm) $8,912 Value ($/sqm) $3,758 Last external valuation date 30 June 2013 Last external valuation date 30 June 2013 Valuer CBRE Valuer m3 Property Tenancy statistics Tenancy statistics WALE (by income) 3.7 years WALE (by income) 8.2 years Occupancy 100% Occupancy 100% Major tenants NLA (sqm) Major tenants NLA (sqm) Gresham Partners 2,364 St George Bank (Westpac) 31,780 Fidelity 2,364 32 / Office / Core Plus Office Fund
11-33 Exhibition Street, 570 Bourke Street, Melbourne Vic (core) Melbourne Vic ( core/development inventory)
Located in the prime eastern sector of the Melbourne CBD, 570 Bourke Street is located in the heart of Melbourne within close proximity to Collins Street, 11–33 Exhibition CBD’s legal and commercial district. The property Street is a modern prime-grade office building. comprises 35,083sqm of refurbished office space over The building comprises 16 levels of office accommodation 31 levels with a public car park over five basement levels. with a further 1,077sqm of various retail leases. Planning approval has been granted for a 14,000sqm expansion of the lower 11 levels of the tower. The project includes renewal of the entire ground level with retail space, an increase in the floorplate size and a dedicated end of trip facility.
Summary Summary Year built (or refurbished) 2005 Year built (or refurbished) 1972 (2003) Grade A Grade A Ownership 100% Ownership 100% Total NLA (sqm) 22,842 Total NLA (sqm) 35,083 Typical floor plate (sqm) 1,700 Typical floor plate (sqm) 1,150 Car spaces 340 Car spaces 522 Valuation (30 June 2013) Valuation (30 June 2013) Valuation $183.0 million Valuation $178.0 million Value ($/sqm) $8,012 Value ($/sqm) $5,076 Last external valuation date 30 June 2013 Last external valuation date 30 June 2013 Valuer Savills Valuer Savills Tenancy statistics Tenancy statistics WALE (by income) 6.1 years WALE (by income) 2.4 years Occupancy 97.3% Occupancy1 64.1% Major tenants NLA (sqm) Major tenants NLA (sqm) Bupa 12,364 State Government 9,588 Fair Work Australia (Commonwealth of Australia) 9,797 Secure Parking 522 bays
Note: 1. Building is being prepeared for redevelopment Charter Hall Property Portfolio / 30 June 2013 / 33
Brisbane Square 275 George Street, Brisbane Qld (core) Brisbane Qld (core)
Located within the Brisbane CBD at the top of the Queen Comprising more than 40,000sqm of A-grade office and retail Street Mall, Brisbane Square is an iconic office building space over 30 levels, this state-of-the-art energy efficient located in the heart of the government and legal precincts building is located in the heart of the Brisbane CBD. With a along George Street. The property comprises premium office 5 star NABERS Energy rating and a 5 star Green Star rating, space over 38 levels, ground floor retail and parking over three the building offers sweeping 360 degree views of the Brisbane basement levels. River and city scape. CPOF holds a 50% stake with the Singaporean listed K-REIT.
Summary Summary Year built (or refurbished) 2006 Year built (or refurbished) 2009 Grade A Grade A Ownership 33% Ownership 50% Total NLA (sqm) 57,368 Total NLA (sqm) 41,738 Typical floor plate (sqm) 1,420 Typical floor plate (sqm) 1,302 Car spaces 341 Car spaces 246 Valuation (30 June 2013) Valuation (30 June 2013) Valuation $136.7 million Valuation $187.5 million Value ($/sqm) $6,940 Value ($/sqm) $8,985 Last external valuation date 30 June 2013 Last external valuation date 30 June 2013 Valuer CBRE Valuer Savills Tenancy statistics Tenancy statistics WALE (by income) 8.6 years WALE (by income) 6.0 years Occupancy 99.5% Occupancy 99.1% Major tenants NLA (sqm) Major tenants NLA (sqm) Brisbane City Council 34,599 Telstra Corporation Ltd 28,836 Suncorp 23,572 Queensland Gas Company 11,652 34 / Office / Core Plus Office Fund
Northbank Plaza 100 Skyring Terrace, 69 Ann Street, Brisbane Qld (core) Brisbane Qld (core)
Artist’s Impression
Located within the Brisbane CBD, Northbank Plaza has 100 Skyring Terrace is a commercial development site located been comprehensively refurbished and repositioned with in the emerging Fortitude Valley/Newstead Riverpark Precinct A-grade services. The majority of floors feature expansive on the fringe of the Brisbane CBD. river, mountain and CBD views. Due for completion in late 2014, the development will encompass a total of 23,547sqm of A Grade office space across 10 tenancy levels. In addition the building will comprise a further 1,056sqm of retail space and 164 car spaces.
Summary Summary Year built (or refurbished) 2008 Year built (or refurbished) 2014 Grade A Grade A Ownership 100% Ownership 50% Total NLA (sqm) 26,700 Total NLA (sqm) 23,547 Typical floor plate (sqm) 1,200 Typical floor plate (sqm) 2,500 Car spaces 156 Car spaces 164 Valuation (30 June 2013) Tenancy statistics Valuation $165.5 million WALE (by income) 7.8 years Value ($/sqm) $6,165 Occupancy 55% Last external valuation date 30 June 2013 Major tenants NLA (sqm) Valuer Savills Bank of Queensland 12,950 Tenancy statistics WALE (by income) 4.3 years Occupancy 100% Major tenants NLA (sqm) Telstra Corporation Ltd 17,996 Parsons Brinckerhoff 5,847 The Bureau of Meteorology 1,400 Charter Hall Property Portfolio / 30 June 2013 / 35
fitzpatrick+partners 51 Pirie Street, Bank SA Adelaide SA (core/development) 97 King William Street, Adelaide SA (core)
Artist’s Impression Artist’s Impression
Located in the heart of the Adelaide CBD, 51 Pirie StreetArtist Impression Only Bank SA is located in the heart of Adelaide and comprises a 51 Pirie Street Adelaide
This drawing is issued upon the condition it is not copied, reproduced, Drawings show design intent only. Shop drawings are to be CLIENT PROJECT NORTH SCALE PRINT DATE fitzpatrick+partners DRAWING PROJECT NO. DRAWING NO. ISSUE retained or disclosed to any unauthorised person either wholly or in provided for approval prior to construction or manufacture. 1:0.60 28/10/2010 © Copyright 2010 P) + 61 2 8274 8200 W) www.fitzpatrickpartners.com part without prior consent in writing of fitzpatrick+partners. Inconsistencies are to be reported to fitzpatrick + partners. @ A1 Perspective 4 Entry 2730 DA-034 A comprises a sevenDo not scale drawings. Check dimensions beforelevel commencing work. retail/office building. The property basement vault, ground and mezzanine level banking branch, comprises refurbished commercial B-grade accommodation and an office building over eight upper levels. The building covering ground retail, five upper levels of office space and a also includes a gymnasium and squash courts which are basement level. located on the roof area. Planning approval has been obtained for a new 32,000sqm A-grade office tower comprising 21 levels and will target a 5 star Green Star rating and a 5 star NABERS Energy rating.
Summary Summary Year built (or refurbished) 1983 Year built (or refurbished) 1943 Grade B Grade B Ownership 100% Ownership 100% Total NLA (sqm) 6,315 Total NLA (sqm) 15,115 Typical floor plate (sqm) 940 Typical floor plate (sqm) 1,340 Car spaces 0 Car spaces 28 Valuation (30 June 2013) Valuation (30 June 2013) Valuation $14.0 million Valuation $20.5 million Value ($/sqm) $2,266 Value ($/sqm) $1,356 Last external valuation date 30 June 2013 Last external valuation date 30 June 2013 Valuer Knight Frank Valuer Savills Tenancy statistics Tenancy statistics WALE (by income) 3.2 years WALE (by income) 8.7 years Occupancy 79.1% Occupancy 100% Major tenants NLA (sqm) Major tenants NLA (sqm) St George Bank 4,427 St George Bank 15,115 36 / Office / Core Plus Office Fund
BHP House Bankwest Place and Raine Square, 225 St Georges Terrace, Perth WA (core) Perth WA (core)
Located on St Georges Terrace, 225 St Georges Terrace Bankwest Place and Raine Square is an office and retail comprises a 21,192sqm office building, with 733sqm of retail complex situated in a prime location within the Perth CBD space and three levels of basement parking. market. The office component is occupied by Bankwest on a long term lease with the retail component anchored by a Coles Supermarket. The site also includes almost an entire CBD block of retail and office use buildings.
Summary Summary Year built (or refurbished) 1990 Year built (or refurbished) 2011 Grade A Grade A Ownership 100% Ownership 33% Total NLA (sqm) 21,192 Total NLA (sqm) 61,564 Typical floor plate (sqm) 1,130 Typical floor plate (sqm) 2,000 Car spaces 373 Car spaces 377 Valuation (30 June 2013) Valuation (30 June 2013) Valuation $200.0 million Valuation $154.0 million Value ($/sqm) $9,433 Value ($/sqm) $7,504 Last external valuation date 30 June 2013 Last external valuation date 30 June 2013 Valuer Savills Valuer Knight Frank Tenancy statistics Tenancy statistics WALE (by income) 2.3 years WALE (by income) 9.3 years Occupancy 98.8% Occupancy 96.5% Major tenants NLA (sqm) Major tenants NLA (sqm) BHP Billiton 13,974 Bankwest 44,086 Wilson Parking 373 bays Coles 1,995 Charter Hall Property Portfolio / 30 June 2013 / 37
109 St Georges Terrace, Perth WA (core)
Located in the heart of the Perth CBD, the Westpac building at 109 St Georges Terrace, comprises a lower A-grade office building, which underwent extensive refurbishment in 2005. The building spans 19 upper office levels, a ground level bank, vault and security storage area.
Summary Year built (or refurbished) 2005 Grade A Ownership 100% Total NLA (sqm) 13,897 Typical floor plate (sqm) 75 Car spaces 550 Valuation (30 June 2013) Valuation $80.0 million Value ($/sqm) $5,757 Last external valuation date 30 June 2013 Valuer Jones Lang LaSalle Tenancy statistics WALE (by income) 3.8 years Occupancy 100% Major tenants NLA (sqm) Westpac Bank 8,169 Calibre Global 2,497
11 Exhibition Street, Melbourne Vic 38 / Office / Office mandates Office mandates
Charter Hall’s wholesale mandate business manages a range of high quality institutional grade office assets on behalf of its institutional clients. These wholesale mandates include 275 George Street Brisbane, 100 Skyring Terrace Newstead, Brisbane Square, Bankwest Place Perth and the Riverside Centre in Adelaide.
Brisbane Square 275 George Street, Brisbane Qld (core) Brisbane Qld (core)
Artist’s Impression
Located within the Brisbane CBD at the top of the Queen Comprising more than 40,000sqm of A-grade office and retail Street Mall, Brisbane Square is an iconic office building space over 30 levels, this state-of-the-art energy efficient located in the heart of the government and legal precincts building is located in the heart of the Brisbane CBD. With a along George Street. The property comprises of premium 5 star NABERS Energy rating and a 5 star Green Star rating, office space over 38 levels, ground floor retail and parking the building offers sweeping 360 degree views of the Brisbane over three basement levels. River and city scape. CPOF holds a 50% stake with the Singaporean listed K-REIT.
Ownership Ownership Institutional clients and CPOF 100% Institutional clients and CPOF 100% Charter Hall Group 0% Charter Hall Group 0% Charter Hall Property Portfolio / 30 June 2013 / 39
100 Skyring Terrace, Bankwest Place and Raine Square, Brisbane Qld Perth WA
100 Skyring Terrace is an office development site located Bankwest Place and Raine Square is an office and retail in the master-planned Newstead Riverpark Precinct, on the complex situated in a prime location within the Perth CBD fringe of the Brisbane CBD. market. The office component is occupied by Bankwest on Due for completion in late 2014, the development comprises a long term lease with the retail component anchored by a a total of 23,547sqm of A-Grade office space across Coles Supermarket. The site also includes almost an entire 10 levels. In addition the building will comprise a further CBD block of retail and office use buildings. 1,056sqm of retail space and 164 car spaces.
Ownership Ownership Institutional clients and CPOF 100% Institutional clients and CPOF 100% Charter Hall Group 0% Charter Hall Group 0% 40 / Office / Charter Hall Direct Property Fund
68 Pitt Street, Sydney NSW Charter Hall Property Portfolio / 30 June 2013 / 41 Charter Hall Direct Property Fund
Charter Hall Direct Property Fund (CHDPF) is an unlisted property fund, open for investment to retail investors, that aims to provide regular, tax effective income payable quarterly from a diversified portfolio of direct property.
Top 10 tenants By gross income
9% Australian Government
6% Barristers’ Chambers
6% Orica
4% DOF Subsea
4% Wilson Parking
4% Davies Collison Cave Holding Ltd
4% SMEC Australia Ltd
4% Meat & Livestock Australia
3% Adecco
3% Citigroup
Annual lease expiry By gross income
6% Vacant
18% FY14
17% FY15
6% FY16
9% FY17
7% FY18
7% FY19
15% FY20
15% FY21+ 42 / Office / Charter Hall Direct Property Fund Fund Statistics
Asset diversification Sector diversification By current value By current value
68 Pitt Street, Sydney NSW 25% 165 Walker Street, North Sydney NSW 4% 504 Pacific Highway, St Leonards NSW 6% 1% 94% 2 Wentworth Street, Parramatta NSW 8% 5% 71 Queens Road, Melbourne Vic 5% 200 Queen Street, Melbourne Vic 21% 1 Nicholson Street, Melbourne Vic 15% 300 Adelaide Street, Brisbane Qld 10% 181 St Georges Terrace, Perth WA 6%
Direct Property 94% Unlisted Property fund 5% Cash & Other 1%
Geographical diversification By current value
6% 42%
10%
42%
New South Wales 42% Victoria 42% Queensland 10% Western Australia 6% Charter Hall Property Portfolio / 30 June 2013 / 43
Weighted Average Lease Expiry (years) By gross income
8.2 71 Queens Road, Melbourne Vic
7.8 1 Nicholson Street, Melbourne Vic
4.9 181 St Georges Terrace, Perth WA
4.4 68 Pitt Street, Sydney NSW
3.7 300 Adelaide Street, Brisbane Qld
3.7 200 Queen Street, Melbourne Vic
2.2 2 Wentworth Street, Parramatta NSW
1.6 165 Walker Street, North Sydney NSW
1.5 504 Pacific Highway, St Leonards NSW
4.3 WALE 44 / Office / Charter Hall Direct Property Fund Property Portfolio
June 2013 Capitalisation Rate 8.33% June 2013 Discount Rate 9.53%”
CHDPF Jun 2013 WALE (years) Weighted avg Ownership % valuation A$M rent reviews (%) 68 Pitt Street, Sydney NSW 100% 120.5 4.4 3.71%
165 Walker Street, North Sydney NSW 100% 22.2 1.6 3.77%
504 Pacific Highway, St Leonards NSW 100% 29.0 1.5 3.84%
2 Wentworth Street, Parramatta NSW 100% 37.0 2.2 2.49%
71 Queens Road, Melbourne Vic 100% 24.4 8.2 3.56%
200 Queen Street, Melbourne Vic 100% 105.0 3.7 3.79%
1 Nicholson Street, Melbourne Vic 100% 75.5 7.8 3.81%
300 Adelaide Street, Brisbane Qld 100% 50.0 3.7 3.87%
181 St Georges Terrace, Perth WA 100% 27.0 4.9 4.40%
Total/Weighted average 490.61 4.3 3.71%
Note: 1. Charter Hall Direct Property Fund also retains a $24.6m investment in a wholesale unlisted property fund resulting in total funds under management of $522.9m. Charter Hall Property Portfolio / 30 June 2013 / 45
200 Queen Street, Melbourne Vic 46 / Office / Charter Hall Direct Property Fund
68 Pitt Street, 165 Walker Street, Sydney NSW North Sydney NSW
Situated in the centre of the Sydney CBD on the corner The building comprises ground level entrance foyer and retail of Pitt and Hunter Streets, the 26 level office building is in accommodation, mezzanine office accommodation and six immediate proximity to Australia Square and Wynyard Station upper levels of office accommodation. Located in the North and benefits from four sides of natural light. The property was Sydney CBD adjacent to the Warringah Expressway, it has repositioned via refurbishment in December 2008. views over Sydney Harbour.
Summary Summary Year built (or refurbished) 1965 (refurbished in 2008) Year built (or refurbished) 1963 (refurbished in 1988 and 2001) Grade B Grade B Ownership 100% Ownership 100% Total NLA (sqm) 14,336 Total NLA (sqm) 5,279 Typical floor plate (sqm) 549 Typical floor plate (sqm) 812 Car spaces 54 Car spaces 43 Valuation (30 June 2013) Valuation (30 June 2013) Valuation $120.5 million Valuation $22.2 million Value ($/sqm) $8,405 Value ($/sqm) $4,206 Last external valuation date 30 June 2013 Last external valuation date 30 June 2013 Valuer Knight Frank Valuer CBRE Tenancy statistics Tenancy statistics WALE (by income) 4.4 years WALE (by income) 1.6 years Occupancy 100% Occupancy 91.8% Major tenants NLA (sqm) Major tenants NLA (sqm) Adecco 1,846 Meat and Livestock Australia Ltd 3,171 Troy Law Services 1,253 ABB Australia 1,139 NIB dental and eye care centre 928 Citigroup Ltd 414 Charter Hall Property Portfolio / 30 June 2013 / 47
504 Pacific Highway, 2 Wentworth Street, St Leonards NSW Parramatta NSW
A 14 level commercial building located on the south western This A-grade office property comprises nine upper levels of alignment of the Pacific Highway with a rear south eastern office and three levels of parking. Located on the corner of frontage to Nicholson Street and located within the heart of Wentworth Street and Parkes Street in the south eastern the St Leonards commercial precinct. commercial precinct of Parramatta, it is in close proximity to the train station.
Summary Summary Year built (or refurbished) 1963 (refurbished in 1991) Year built (or refurbished) 1990 (refurbished in 2011) Grade B Grade A Ownership 100% Ownership 100% Total NLA (sqm) 11,091 Total NLA (sqm) 10,953 Typical floor plate (sqm) 789 Typical floor plate (sqm) 1,023 Car spaces 115 Car spaces 118 Valuation (30 June 2013) Valuation (30 June 2013) Valuation $29.0 million Valuation $37.0 million Value ($/sqm) $2,615 Value ($/sqm) $3,378 Last external valuation date 30 June 2013 Last external valuation date 30 June 2013 Valuer Knight Frank Valuer Savills Tenancy statistics Tenancy statistics WALE (by income) 1.5 years WALE (by income) 2.2 years Occupancy 64.9% Occupancy 100% Major tenants NLA (sqm) Major tenants NLA (sqm) Southern Pacific Hotel Corporation 1,775 NSW State Government 9,584 48 / Office / Charter Hall Direct Property Fund
71 Queens Road, 200 Queen Street, Melbourne Vic Melbourne Vic
This fully refurbished office building comprises 12 levels of The A-grade commercial office building comprises nine office accommodation, ground level retail and basement, levels of parking, ground level retail premises and office ground and mezzanine car parking is provided. Located in foyer and 25 levels of office accommodation. The building Queens Road in close proximity to St Kilda Road, the building is well located close to the legal and financial precincts of enjoys uninterrupted views over Albert Park. Melbourne’s CBD, reflected in the calibre of tenants, mainly legal service providers.
Summary Summary Year built (or refurbished) 1970 (various refurbishments) Year built (or refurbished) 1982 (refurbished in 2007) Grade B Grade A Ownership 100% Ownership 100% Total NLA (sqm) 8,443 Total NLA (sqm) 19,732 Typical floor plate (sqm) 839 Typical floor plate (sqm) 813 Car spaces 115 Car spaces 413 Valuation (30 June 2013) Valuation (30 June 2013) Valuation $24.4 million Valuation $105.0 million Value ($/sqm) $2,895 Value ($/sqm) $5,321 Last external valuation date 30 June 2013 Last external valuation date 31 December 2012 Valuer External Sale Valuer Jones Lang LaSalle Tenancy statistics Tenancy statistics WALE (by income) 8.2 years WALE (by income) 3.7 years Occupancy 83.4% Occupancy 100% Major tenants NLA (sqm) Major tenants NLA (sqm) SMEC Australia 5,186 Barristers Chambers Ltd 6,896 Australian Government Solicitors 3,270 Charter Hall Property Portfolio / 30 June 2013 / 49
1 Nicholson Street, 300 Adelaide Street, Melbourne Vic Brisbane Qld
Melbourne’s first glass curtain wall facade ‘sky-scraper’, The B-grade commercial office building comprising of 19 designed by Bates Smart and constructed in 1958. The upper levels of office accommodation, ground floor retail building comprises 18 levels of office, ground floor retail cafe premises, foyer and two levels of basement parking. The and basement parking. The building enjoys fantastic views building underwent a major refurbishment in 2000, and the over Parliament Gardens and State Parliament House and is foyer and lifts were upgraded in 2009. The building is well located close to public transport hubs, both tram and train. located within close proximity to the Brisbane River, Central Station and the Queen Street Mall.
Summary Summary Year built (or refurbished) 1958 (refurbished in 2008) Year built (or refurbished) 1974 (refurbished in 2000) Grade B Grade B Ownership 100% Ownership 100% Total NLA (sqm) 16,965 Total NLA (sqm) 13,134 Typical floor plate (sqm) 920 Typical floor plate (sqm) 650 Car spaces 55 Car spaces 41 Valuation (30 June 2013) Valuation (30 June 2013) Valuation $75.5 million Valuation $50.0 million Value ($/sqm) $4,450 Value ($/sqm) $3,807 Last external valuation date 30 June 2013 Last external valuation date 30 June 2013 Valuer Jones Lang LaSalle Valuer Savills Tenancy statistics Tenancy statistics WALE (by income) 7.8 years WALE (by income) 3.7 years Occupancy 100% Occupancy 89.9% Major tenants NLA (sqm) Major tenants NLA (sqm) Orica 7,374 Transaction Network Services 1,302 Davies Collison Cave 5,078 Caterpillar Australia 1,296 50 / Office / Charter Hall Direct Property Fund
181 St Georges Terrace, Perth WA
Located at 181 St Georges Terrace, the property comprises a modern A-grade quality office building comprising of ground floor foyer and retail tenancies and six upper level office floors. The property’s location on St Georges Terrace is the premier address for financial and commercial activity within the Perth CBD.
Summary Year built (or refurbished) 2000 Grade A Ownership 100% Total NLA (sqm) 3,588 Typical floor plate (sqm) 535 Car spaces 14 Valuation (30 June 2013) Valuation $27.0 million Value ($/sqm) $7,525 Last external valuation date 31 December 2012 Valuer Savills Tenancy statistics WALE (by income) 4.9 years Occupancy 100% Major tenants NLA (sqm) DOF Subsea 2,378 Westlink Logistics 533 Charter Hall Property Portfolio / 30 June 2013 / 51
300 Adelaide Street, Brisbane Qld 52 / Office / 130 Stirling Street Trust 130 Stirling Street Trust
130 Stirling Street Trust (CHIF7) is Charter Hall’s seventh direct property syndicate, an unlisted trust providing exposure to a high quality A-grade office building in the growth corridor of the Perth CBD fringe.
Top 5 tenants By gross income
41% Commonwealth Government (Medicare) 33% WA Police & Nurses Credit Society
10% Downer EDI
9% HLB Mann Judd
5% Wilson Parking
Annual lease expiry By gross income
0% Vacant
0% FY14
1% FY15
10% FY16
0% FY17
0% FY18
73% FY19
10% FY20
6% FY21+ Charter Hall Property Portfolio / 30 June 2013 / 53
130 Stirling Street, Perth WA
130 Stirling Street comprises four office levels plus retail tenancies with four levels of car parking. The property has a 5.5 star NABERS Energy rating and is located on the northern fringe of the Perth CBD and has views to the city centre.
Summary Year built (or refurbished) 2009 Grade A Ownership 100% Total NLA (sqm) 12,351 Typical floor plate (sqm) 2,700 to 3,075 Car spaces 242 Valuation (30 June 2013) Valuation $84.0 million Value ($/sqm) $6,801 Last external valuation date 31 December 2012 Valuer Jones Lang LaSalle Tenancy statistics WALE (by income) 5.8 years Occupancy 100% Major tenants NLA (sqm) Commonwealth Government (Medicare) 5,306 WA Police and Nurses Credit Society 4,150 Downer EDI Mining Pty Ltd 1,328
130 Stirling Street, Perth WA 54 / Office / 144 Stirling Street Trust 144 Stirling Street Trust
The Charter Hall Direct 144 Stirling Street Trust (CHIF8) is an unlisted property syndicate investing in a quality A-grade office building located in the Perth CBD fringe. The Trust aims to provide investors with sustainable and stable, tax-advantaged income and the potential for capital growth.
Top 3 tenants By gross income
65% Hatch
24% Minister for Works (WA Governmnet)
8% Wilson Parking
Annual lease expiry By gross income
0% Vacant
1% FY14
0% FY15
26% FY16
0% FY17
0% FY18
0% FY19
0% FY20
73% FY21+ Charter Hall Property Portfolio / 30 June 2013 / 55
Hatch Building 144 Stirling Street, Perth WA
The A-grade office building is located within the northern fringe of the Perth CBD, a rapidly emerging office precinct. The asset’s key tenants, include Hatch, and WA Minister for Works who occupy a total of 98% of the building’s NLA. The remainder of the building is occupied by a retail tenant (167sqm).
Summary Year built (or refurbished) 2001 Grade A Ownership 100% Total NLA (sqm) 11,042 Typical floor plate (sqm) 2,269 to 2,411 Car spaces 243 Valuation (30 June 2013) Valuation $57.0 million Value ($/sqm) $5,162 Last external valuation date 30 June 2013 Valuer CBRE Tenancy statistics WALE (by income) 7.2 years Occupancy 100% Major tenants NLA (sqm) Hatch 7,349 Minister for Works 3,525 Wilson Parking 201 bays
144 Stirling Street, Perth WA 56 / Office / Charter Hall Group
685 La Trobe Street, Melbourne Vic Artist’s Impression Charter Hall Property Portfolio / 30 June 2013 / 57 685 LaTrobe
Charter Hall Group has a 50% interest in an office development project at 685 La Trobe Street, Melbourne.
685 La Trobe Street, Melbourne Vic
Summary Status Pre-leasing Ownership 50% Total NLA (sqm) 38,347 Typical floor plate (sqm) 3,300 JV Partner Flagship Pty Ltd Car spaces 136
Artist’s Impression Artist’s Impression
Developed through a Joint Venture between Charter Hall and Flagship Pty Ltd, 685 La Trobe will be a new, highly efficient, 37,000sqm A-grade office building that offers an open, transparent and flexible workspace over 12 levels in the heart of Docklands’ Stadium Precinct. With large floorplates comprising 3,300sqm, it allows the flexibility to create dynamic meeting spaces for teams to work efficiently and collaborate easily. The building is designed to achieve a 5 star Green Star rating and a 5 star NABERS Energy rating and comprises 137 car spaces, a dedicated hub for 250 bicycles and 1,100sqm of retail. Charter Hall is currently sourcing tenant pre-commitments for the project. 58 / Office / No.1 Martin Place Trust
No.1 Martin Place, Sydney NSW Charter Hall Property Portfolio / 30 June 2013 / 59 No.1 Martin Place Trust
No.1 Martin Place Trust1 (1MPT) was established in 2002 to acquire a 50% interest in the office tower and car park located at No.1 Martin Place, Sydney.
No.1 Martin Place, Sydney NSW
Summary Year built (or refurbished) 1999 Grade Prime Ownership 50% Total NLA (sqm) 40,237 Typical floor plate (sqm) 1,672 Car spaces 374 Valuation (30 June 2013) Valuation (50%) $210.0 million Value ($/sqm) $10,438 Last external valuation date 31 December 2012 Valuer Colliers Set in the financial heart of Sydney, No.1 Martin Place is one Tenancy statistics of Australia’s most esteemed business addresses. The 24 level office building has flexible floor plans, floor-to-ceiling WALE (by income) 3.1 years windows and views of the surrounding city - all in the centre of Occupancy 90% the Sydney CBD. Beneath the office tower is seven levels of basement car parking. Major tenant NLA (sqm) Macquarie Group 36,364
Annual lease expiry By gross income
0% Vacant
2% FY14
76% FY15
0% FY16
22% FY17+
Note: 1. Sale of units to CHOT approved in July 2013. Scheme implementation occured in August 2013. 60 / Retail Retail
Morisset Shopping Centre, Morisset Charter Hall Property Portfolio / 30 June 2013 / 61 62 / Retail / Charter Hall Retail REIT
Lake Macquarie Fair, Mount Hutton Charter Hall Property Portfolio / 30 June 2013 / 63 Charter Hall Retail REIT
Charter Hall Retail REIT is a specialist REIT with over 17 years experience in owning and managing Australian retail properties. With an active management strategy focused on maximising total returns, the REIT aims to offer unitholders an investment product that provides a secure and growing income stream from its portfolio of supermarket anchored shopping centres.
Tenants > 2% of total Australian Base Rent
29% Woolworths
25% Wesfarmers
Annual lease expiry By net lettable area
12% FY14
10% FY15
7% FY16
11% FY17
9% FY18
4% FY19
5% FY20
7% FY21
35% FY22+
Australia1, 2 Number of properties 74 Gross lettable area (CQR share, ‘000sqm) 472.0 Valuation (CQR share, $m) 1657.6 NTA per unit ($)3 3.21 Proportion of NTA3 97% Operational performance metrics Same property NOI growth 2.8% Occupancy 98.2% Specialty rental rate growth 3.1% Portfolio WALE (years) 7.1
Note: 1. Excludes Home HQ Nunawading sold post 30 June 2013 2. All information represents CQR’s Australian portfolio only 3. Post balance date initatives 64 / Retail / Charter Hall Retail REIT
Lake Macquarie Fair, Mount Hutton Charter Hall Property Portfolio / 30 June 2013 / 65
New South Wales
Windsor Marketplace, Windsor Thornleigh Marketplace, Thornleigh
Summary Property Ownership (%) Classification Number of properties 33 Gordon Village Centre, Gordon 100% Neighbourhood Number of tenancies 712 Carnes Hill Marketplace, 50% Sub-regional Horningsea Park Total GLA (sqm) 199,931 Jerrabomberra Village, Jerrabomberra 100% Neighbourhood Valuation Kings Langley Shopping Centre, Valuation $757.6 million 100% Neighbourhood Kings Langley Value ($/sqm) $3,790 Highlands Marketplace, Mittagong 50% Sub-regional Capitalisation rate 8.19% Balo Square, Moree 100% Neighbourhood Discount rate 9.22% Morisset Shopping Centre, Morisset 100% Neighbourhood Tenancy statistics Lake Macquarie Fair, Mount Hutton 100% Sub-regional WALE (by income) 8.3 years Mount Hutton Plaza, Mount Hutton 100% Neighbourhood Occupancy 98.2% Mudgee Metroplaza, Mudgee 100% Neighbourhood 1 Major tenants ABR Contribution (%) Sunnyside Mall, Murwillumbah 100% Neighbourhood Woolworths 24.8% Narrabri Coles, Narrabri 100% Freestander Coles 17.5% Kierath’s Shopping Square, 100% Neighbourhood Big W 6.2% Narromine Target 3.3% Orange Central, Orange 100% Neighbourhood Kmart 1.6% Parkes Metroplaza, Parkes 100% Neighbourhood Property Ownership (%) Classification Rosehill Woolworths, Rosehill 100% Freestander Bathurst Chase, Bathurst 100% Neighbourhood Rutherford Marketplace, Rutherford 50% Neighbourhood Cooma Woolworths, Cooma 100% Freestander Gowrie Street Mall, Singleton 100% Sub-regional Cootamundra Woolworths, Tamworth City Plaza, Tamworth 100% Sub-regional 100% Freestander Cootamundra Thornleigh Marketplace, Thornleigh 50% Neighbourhood Dubbo Square, Dubbo 100% Sub-regional Tumut Coles, Tumut 100% Freestander Earlwood Coles, Earlwood 100% Freestander Wellington Coles, Wellington 100% Freestander Pemulwuy Marketplace, Greystanes 50% Neighbourhood West Ryde Marketplace, West Ryde 50% Neighbourhood Mackenzie Mall, Glen Innes 100% Neighbourhood Windsor Marketplace, Windsor 50% Neighbourhood Goonellabah Village, Goonellabah 100% Neighbourhood Young Woolworths, Young 100% Freestander
Note: 1. Annual Base Rent 66 / Retail / Charter Hall Retail REIT
Victoria Queensland
Pakington Strand, Geelong West Bribie Island Shopping Centre, Bribie Island
Summary Summary Number of properties 8 Number of properties 14 Number of tenancies 106 Number of tenancies 353 Total GLA (sqm) 45,471 Total GLA (sqm) 96,862 Valuation Valuation Valuation $108.9 million Valuation $371.2 million Value ($/sqm) $2,395 Value ($/sqm) $3,833 Capitalisation rate 7.70% Capitalisation rate 8.23% Discount rate 8.60% Discount rate 9.69% Tenancy statistics Tenancy statistics WALE (by income) 5.6 years WALE (by income) 6.3 years Occupancy 99.8% Occupancy 99.1% Major tenants ABR Contribution (%) Major tenants ABR Contribution (%) Woolworths 29.2% Woolworths 22.1% Coles 17.2% Coles 20.2% Kmart 13.7% Property Ownership (%) Classification Property Ownership (%) Classification Albany Creek Square, Albany Creek 100% Neighbourhood Bairnsdale Coles, Bairnsdale 100% Freestander Tablelands Village, Atherton 100% Neighbourhood Lansell Square, Bendigo 100% Sub-regional Bribie Island Shopping Centre, Bribie Island 100% Sub-regional Caboolture Park Shopping Centre, Pakington Strand, Geelong West 50% Neighbourhood 100% Sub-regional Caboolture Safeway Kerang, Kerang 100% Freestander Currimundi Markets, Currimundi 100% Neighbourhood Kyneton Shopping Centre, Kyneton 100% Neighbourhood Gatton Plaza, Gatton 100% Neighbourhood Olive Tree Shopping Centre, Lilydale 100% Neighbourhood Gladstone Square, Gladstone 50% Neighbourhood Moe Coles, Moe 100% Freestander Bay Plaza, Hervey Bay 100% Neighbourhood Moe Kmart, Moe 100% Freestander Kallangur Fair, Kallangur 100% Neighbourhood Sydney Street Markets, Mackay 100% Neighbourhood Mareeba Plaza, Mareeba 100% Neighbourhood Moranbah Fair, Moranbah 100% Neighbourhood Allenstown Plaza, Rockhampton 100% Neighbourhood Springfield Fair, Springfield 100% Neighbourhood Charter Hall Property Portfolio / 30 June 2013 / 67
South Australia Western Australia
Wharflands Plaza, Port Augusta Wanneroo Central, Wanneroo
Summary Summary Number of properties 2 Number of properties 11 Number of tenancies 41 Number of tenancies 234 Total GLA (sqm) 22,100 Total GLA (sqm) 84,039 Valuation Valuation Valuation $47.2 million Valuation $263.3 million Value ($/sqm) $2,136 Value ($/sqm) $3,133 Capitalisation rate 9.00% Capitalisation rate 8.04% Discount rate 9.71% Discount rate 9.46% Tenancy statistics Tenancy statistics WALE (by income) 6.4 years WALE (by income) 5.9 years Occupancy 99.0% Occupancy 96.8% Major tenants ABR Contribution (%) Major tenants ABR Contribution (%) Big W 33.0% Coles 17.6% Woolworths 30.1% Woolworths 16.9% Property Ownership (%) Classification Kmart 9.7% Wharflands Plaza, Port Augusta 100% Sub-regional Property Ownership (%) Classification Renmark Plaza, Renmark 100% Sub-regional Albany Plaza, Albany 100% Sub-regional Ballajura Central , Ballajura 100% Neighbourhood Carnarvon Central, Carnarvon 100% Neighbourhood Collie Central, Collie 100% Neighbourhood Esperance Boulevard, Esperance 100% Neighbourhood Kalgoorlie Central, Kalgoorlie 100% Neighbourhood Maylands Coles, Maylands 100% Freestander Narrogin Coles, Narrogin 100% Freestander South Hedland Shopping Centre, 100% Sub-regional South Hedland Swan View Shopping Centre, 100% Neighbourhood Swan View Wanneroo Central, Wanneroo 50% Sub-regional 68 / Retail / Charter Hall Retail REIT
ACT Tasmania
Erindale Shopping Centre, Wanniassa Newstead Coles, Newstead
Summary Summary Number of properties 3 Number of properties 3 Number of tenancies 59 Number of tenancies 4 Total GLA (sqm) 17,145 Total GLA (sqm) 6,446 Valuation Valuation Valuation $87.0 million Valuation $22.4 million Value ($/sqm) $5,074 Value ($/sqm) $3,475 Capitalisation rate 7.95% Capitalisation rate 7.67% Discount rate 9.18% Discount rate 8.83% Tenancy statistics Tenancy statistics WALE (by income) 5.7 years WALE (by income) 8.4 years Occupancy 96.0% Occupancy 100% Major tenants ABR Contribution (%) Major tenants ABR Contribution (%) Woolworths 29.5% Woolworths 62.9% Coles 17.3% Coles 34.8% Property Ownership (%) Classification Property Ownership (%) Classification Dickson Woolworths, Dickson 100% Freestander Newstead Coles, Newstead 100% Freestander Manuka Terrace, Manuka 100% Neighbourhood Smithton Woolworths, Smithton 100% Freestander Erindale Shopping Centre, Wynyard Woolworths, Wynyard 100% Freestander 100% Neighbourhood Wanniassa Charter Hall Property Portfolio / 30 June 2013 / 69
Windsor Marketplace, Windsor NSW 70 / Retail / Retail Partnership No.1 Retail Partnership No.1
Retail Partnership No.1 is a 50/50 joint-venture investment between the Charter Hall Retail REIT and a major Australian Superannuation Fund. The portfolio comprises supermarket anchored neighbourhood and sub-regional shopping centres.
Tenants By gross income
40% Woolworths
7% Wesfarmers
Annual lease expiry By Annual Base Rent
8% FY14
16% FY15
8% FY16
8% FY17
6% FY18
6% FY19
3% FY20
1% FY21
44% FY22+ Charter Hall Property Portfolio / 30 June 2013 / 71
Retail Partnership No.1
Wanneroo Central, Wanneroo
Summary Number of properties 10 Number of tenancies 307 Total GLA (sqm) 94,644 Valuation (30 June 2013) Valuation $393.5 million Value ($/sqm) $4,157 Capitalisation rate 7.67% Discount rate 9.24% Tenancy statistics Portfolio WALE (by income) 12.4 years Anchor Wale (by income) 23.2 years Occupancy 98.8% Major tenants ABR Contribution (%) Woolworths 32.1% Big W 7.1% Kmart 3.2% Property Carnes Hill Marketplace, Horningsea Park NSW Highlands Marketplace, Mittagong NSW Pemulwuy Marketplace, Greystanes NSW Rutherford Marketplace, Rutherford NSW Thornleigh Marketplace, Thornleigh NSW West Ryde Marketplace, West Ryde NSW Windsor Marketplace, Windsor NSW Pakington Strand, Geelong West Vic Gladstone Square, Gladstone Qld Wanneroo Central, Wanneroo WA
Pemulwuy Marketplace, Greystanes NSW 72 / Retail / Bateau Bay Square Retail Partnership No.2
Bateau Bay Square is a sub-regional shopping centre on the Central Coast of NSW, purchased by Charter Hall in 2012. The centre is strongly anchored and continues to strengthen its position providing convenient retail and services for the local community and significant tourist market. The asset is owned by Retail Partnership No.2, a wholesale partnership between Charter Hall Group (20%) and an institutional investor (80%).
Top 6 tenants By gross income
11% Kmart
7% Woolworths
7% Coles
3% Aldi
3% The Reject Shop
3% Terry White Chemist
Annual lease expiry By gross income
17% FY14
21% FY15
13% FY16
10% FY17
9% FY18
22% FY19
1% FY20
0% FY21
7% FY22+ Charter Hall Property Portfolio / 30 June 2013 / 73
Bateau Bay Square Bateau Bay NSW
Located on a 9.89 hectare site, the Centre offers a choice of three supermarkets; Woolworths, Coles and Aldi, plus a Kmart and Best & Less. There are also over 80 specialty stores and an automotive service pad site. As at April 2013, Moving Annual Turnover was $212.4 million and Moving Annual Traffic was 4.92 million.
Summary Number of properties 1 Number of tenancies 120 Total GLA (sqm) 28,227 Valuation (30 June 2013) Valuation $164.0 million Value ($/sqm) $5,800 Capitalisation rate 8.00% Discount rate 9.50% Tenancy statistics Portfolio WALE (by income) 3.9 years Anchor Wale (by income) 7.4 years Occupancy 99% Major tenants NLA(sqm) Kmart 7,587 Coles 5,135 Woolworths 3,600
Bateau Bay Square, Bateau Bay NSW 74 / Retail / Bunnings Partnership Bunnings Partnership
Established in October 2012, the Bunnings Partnership is a wholesale Partnership between Charter Hall Group (13%) and an Australian superannuation fund (87%) which invests in modern Bunnings Warehouse stores. The stores are standalone facilities with long term leases with fixed annual rent increases. The Fund aims to acquire investment grade assets underpinned by long term leases with Bunnings, one of the Southern hemisphere’s largest retailers of home improvement and outdoor living products. Bunnings is fully owned by Wesfarmers Limited.
Tenants By gross income
95% Bunnings
5% Wiley
Annual lease expiry By net lettable area
0% 11% Vacant
0% 10% FY14
0% 7% FY15
0% 11% FY16
0% 9% FY17
0% 7% FY18
16% FY19
0% 12% FY20
15% 28% FY21
69% FY22+ Charter Hall Property Portfolio / 30 June 2013 / 75
Bunnings Partnership
Summary Number of properties 10 Number of tenancies 10 Total GLA (sqm) 124,243 Valuation (30 June 2013) Valuation $238.7 million Value ($/sqm) $1,921 Capitalisation rate 7.58% Discount rate 9.48% Tenancy statistics WALE (by income) 12.0 years Occupancy 100.0% Major tenants (%) Bunnings 95.0% Wiley 5.0% Property Ownership (%) Classification Bunnings, Armidale NSW1 100% Regional Bunnings, Castle Hill NSW 100% Metro Bunnings, Chatswood NSW 100% Metro Bunnings, Kirrawee NSW 100% Metro Bunnings, Narellan NSW1 100% Metro Bunnings, Rouse Hill NSW 100% Metro Bunnings, Taree NSW1 100% Regional Bunnings, Rosebud Vic 100% Regional Bunnings, Stafford Qld 100% Metro Wiley Stafford Qld 100% Metro
Note: 1. Terms agreed with to settlement due post 30 June 2013. 76 / Retail Charter Hall Direct Retail Fund
Charter Hall’s Direct Retail Fund (DRF) invests directly in quality retail properties with a property portfolio of two retail shopping centres1 as at 30 June 2013
Property Portfolio
June 2013 Capitalisation Rate 10.18% June 2013 Discount Rate 11.13%”
DRF Jun 13 WALE (years) Weighted avg Ownership % valuation A$M rent reviews (%) Menai Central, Sydney NSW 100% 31.5 5.7 2.92%
Home HQ Nunawading, Melbourne Vic 50% 24.0 3.4 3.31%
Total/Weighted average 55.5 4.6 3.10%
Note: 1. Home HQ Nunawading sold post 30 June 2013 and Menai Central expected to settle in September 2013 77 / Retail / Charter Hall Direct Retail Fund Charter Hall Property Portfolio / 30 June 2013 / 77
Menai Central Home HQ Nunawading Sydney NSW Melbourne Vic
Menai Central is a modern neighbourhood shopping centre Home HQ Nunawading is a modern two-level household comprising six separate buildings. Menai is an established retail centre located on Whitehorse Road in Nunawading, residential neighbourhood located within the Sutherland approximately 25 kilometres east of the Melbourne CBD. Shire Local Government Area, approximately 28 kilometres south of the Sydney CBD.
Summary Summary Year built (or refurbished) 2002 Year built (or refurbished) 2007 Classification Neighbourhood Classification Household retail Ownership 100% Ownership 50% Total GLA (sqm) 10,799 Total GLA (sqm) 22,871 Car spaces 275 Car spaces 417 Valuation (30 June 2013) Valuation (30 June 2013) Valuation $31.5 million Valuation (50%) $24.0 million Value ($/sqm) $2,917 Value ($/sqm) $2,099 Last external valuation date 31 December 2012 Last external valuation date 30 June 2013 Valuer Savills Valuer Colliers Tenancy statistics Tenancy statistics WALE (by income) 5.7 years WALE (by income) 3.4 years Occupancy 97% Occupancy 100% Major tenants NLA (sqm) Major tenants NLA (sqm) Goodlife Gym 1,839 The Good Guys 3,443 IGA Supermarket 1,617 Bev Marks Beds 3,359 Dan Murphy’s 1,548 Nick Scali Furniture 2,667 78 / Industrial Industrial
Fastline Facility, Derrimut Vic Charter Hall Property Portfolio / 30 June 2013 / 79 80 / Industrial / Core Plus Industrial Fund
CPIF has a 99% occupancy, owns 21 assets with an average value of $27 million and a strong WALE of 9.6 years.
Coles Distribution Centre, Perth WA Charter Hall Property Portfolio / 30 June 2013 / 81 Core Plus Industrial Fund
Charter Hall’s Core Plus Industrial Fund (CPIF) was launched in 2007. The Fund predominantly targets assets within the industrial and logistics sectors in major capital city markets of Australia, and sources a mix of core and enhanced investment grade property assets. Top 10 tenants By gross income
19% Coles Group
11% Metcash
10% Volkswagen
7% Woolworths
5% Fastline International
5% Volvo
5% Arrium
3% Schenker
3% Chevron
3% Shiro
Annual lease expiry By net lettable area
1% Vacant
1% FY14
4% FY15
1% FY16
15% FY17
6% FY18
11% FY19
2% FY20
59% FY21+ 82 / Industrial / Core Plus Industrial Fund Fund Statistics
Asset diversification Core vs. Enhanced assets By current value By current value
Volkswagen Distribution Centre, Chullora NSW 11% 372 Eastern Valley Way, Chatswood NSW 5% 56 Anzac Street, Chullora NSW 3% 5% 95% 15 Huntingwood Drive, Huntingwood NSW 3% Schenker Facility, Melbourne Airport Vic 2% 130-138 Link Road, Melbourne Airport Vic 3% Kathmandu Facility, Melbourne Airport Vic 1% Fastline Facility, Derrimut Vic 5% Arrium Distribution Centre, Pinkenba Qld 5%
200 Holt Street, Pinkenba Qld 2% Core 95% 140-160 Robinson Road, Geebung Qld 5% Enhanced 5% Toll Facility, Brisbane Airport Qld 2% 17 Sugarmill Road, Meeandah Qld 4% Geographical diversification Lot 2 Sherbrooke Road, Willawong Qld 2% By current value 80-120 Canberra Street, Hemmant Qld 3% 238-260 Gilmore Road, Berrinba Qld 2% 7% 35% 108 Faisal Hatia Way, Berrinba Qld 1% 123-135 Kewdale Road, Kewdale WA 6% 11% Coles Distribution Centre, Perth Airport WA 16% Metcash Distribution Centre, Canning Vale WA 12% Woolworths Distribution Centre, Launceston Tas 7% 22% 25%
Western Australia 35% Queensland 25% New South Wales 22% Victoria 11% Tasmania 7% Charter Hall Property Portfolio / 30 June 2013 / 83
Weighted Average Lease Expiry (years) By gross income
23.7 Woolworths Distribution Centre, Launceston Tas 14.9 Coles Distribution Centre, Perth Airport WA
14.4 Fastline Facility, Derrimut Vic
11.2 Volkswagen Distribution Centre, Chullora NSW
11.0 15 Huntingwood Drive, Huntingwood NSW
10.5 Arrium Distribution Centre, Pinkenba Qld
10.5 Metcash Distribution Centre, Canning Vale WA
9.4 80-120 Canberra Street, Hemmant Qld
6.2 130-138 Link Road, Melbourne Airport Vic
5.9 Schenker Facility, Melbourne Airport Vic
5.3 56 Anzac Street, Chullora NSW
4.4 123-135 Kewdale Road, Kewdale WA
4.1 372 Eastern Valley Way, Chatswood NSW
4.0 17 Sugarmill Road, Meeandah Qld
3.7 Toll Facility, Brisbane Airport Qld
3.3 Kathmandu Facility, Melbourne Airport Vic
2.4 140-160 Robinson Road, Geebung Qld
9.6 WALE 84 / Industrial / Core Plus Industrial Fund Property Portfolio
June 2013 Capitalisation Rate 8.30% June 2013 Discount Rate 9.76%”
CPIF Jun 2013 WALE (years) Weighted avg Ownership % valuation (A$M) rent reviews (%) Volkswagen Distribution Centre, Chullora NSW 100% 59.5 11.2 3.25%
372 Eastern Valley Way, Chatswood NSW 100% 30.0 4.1 3.61%
56 Anzac Street, Chullora NSW 100% 17.5 5.3 3.06%
15 Huntingwood Drive, Huntingwood NSW 100% 16.5 11.0 3.00%
Schenker Facility, Melbourne Airport Vic 100% 11.8 5.9 3.50%
130-138 Link Road, Melbourne Airport Vic 100% 14.7 6.2 3.50%
Kathmandu Facility, Melbourne Airport Vic 100% 7.1 3.3 3.50%
Fastline Facility, Derrimut Vic 100% 29.8 14.4 3.50%
Smorgon Distribution Centre, Pinkenba Qld 100% 28.0 10.5 3.25%
200 Holt Street, Pinkenba Qld 100% 10.2 land land
140-160 Robinson Road, Geebung Qld 100% 27.0 2.4 3.23%
Toll Facility, Brisbane Airport Qld 100% 8.5 3.7 3.25%
17 Sugarmill Road, Meeandah Qld 100% 22.0 4.0 3.94%
238-260 Gilmore Road, Berrinba Qld 100% 8.5 land land
450 Sherbrooke Road, Willawong Qld 100% 12.3 land land
80-120 Canberra Street, Hemmant Qld 100% 15.8 9.4 3.25%
108 Faisal Hatia Way, Berrinba Qld 100% 8.0 land land
123-135 Kewdale Road, Kewdale WA 100% 35.0 4.4 4.00%
Coles Distribution Centre, Perth Airport WA 50% 91.8 14.9 2.75%
Metcash Distribution Centre, Canning Vale WA 50% 67.5 10.5 3.00%
Woolworths Distribution Centre, Launceston Tas 50% 38.5 23.7 2.80%
Total/Weighted average 559.9 9.6 3.22% Charter Hall Property Portfolio / 30 June 2013 / 85
Volkswagen Distribution Centre 24 Muir Rd, Chullora 86 / Industrial / Core Plus Industrial Fund
Volkswagen Australia Chatswood Business Park 24 Muir Road, Chullora NSW 372 Eastern Valley Way, Chatswood NSW
Located within Chullora Business Park, the new The Chatswood Business Park is located on a high profile Volkswagen Group Australia head office and distribution site at the corner of Eastern Valley Way and Smith Street, two centre comprises three office levels over 10,500sqm, kilometres north east of the Chatswood Regional Centre and an international training centre, service area and a high 10 kilometres north of the Sydney CBD. clearance warehouse facility comprising 16,000sqm. The property comprises a modern, ten unit industrial complex The state of the art facility comprises warehouse that was completed in 1986. The units are constructed over accommodation featuring a minimum clearance height of two main levels and have a GLA of 12,674sqm. The top level approximately ten metres and ten recessed docks and on- of the estate is occupied by traditional industrial tenants, whilst site expansion of up to 8,000sqm. the ground level of the estate comprises more commercial and household retail uses. Bunnings now occupies the adjoining site. Summary Summary Year built (or refurbished) 2011 Year built (or refurbished) 1986 Ownership 100% Ownership 100% Total GLA (sqm) 26,739 Total GLA (sqm) 12,674 Valuation (30 June 2013) Valuation (30 June 2013) Valuation $59.5 million Valuation $30.0 million Value ($/sqm) $2,225 Value ($/sqm) $2,367 Last external valuation date 31 December 2012 Last external valuation date 30 June 2013 Valuer Knight Frank Valuer Savills Tenancy statistics Tenancy statistics WALE (by income) 11.2 years WALE (by income) 4.1 years Occupancy 100% Occupancy 100% Major tenants GLA (sqm) Major tenants GLA (sqm) Volkswagen Group 26,739 Petbarn 3,624 The Good Guys 2,566 Charter Hall Property Portfolio / 30 June 2013 / 87
56 Anzac Street, 15 Huntingwood Drive, Chullora NSW Huntingwood NSW
The property comprises two substantial industrial warehouse/ The property incorporates a modern logistics facility that office facilities, with attached awning and hardstand areas has a gross lettable area of 11,736sqm, with a reinforced situated on a site of 6.476 hectares. Building one comprises concrete mezzanine within the warehouse of a further a modern showroom/ office area fronting the Hume Highway 1,598sqm and awnings of 1,219sqm. The property is and warehouse area to the rear. It is occupied by Volvo Truck situated on a site of 3.67 hectares (site coverage of 32%) in Australia and has a GLA of 6,995sqm. the established industrial estate of Huntingwood, adjoining Building two is a large freestanding office/warehouse of the M4 motorway approximately 34 kilometres west of the approximately 21,204sqm. Internal clearance up to 13 metres Sydney CBD and 10 kilometres west of Parramatta. and access is provided via a series of 15 roller shutter doors The site provides for a further potential 3,000sqm of GLA. with a large covered awning and large open marshalling areas.
Summary Summary Year built (or refurbished) 2010 Year built (or refurbished) 1996 Ownership 100% Ownership 100% Total GLA (sqm) 28,924 Total GLA (sqm) 11,736 Valuation (30 June 2013) Valuation (30 June 2013) Valuation $17.5 million Valuation $16.5 million Value ($/sqm) $621 Value ($/sqm) $1,3211 Last external valuation date 31 December 2012 Last external valuation date 30 June 2013 Valuer Savills Valuer Knight Frank Tenancy statistics Tenancy statistics WALE (by income) 5.3 years WALE (by income) 11.0 years Occupancy 100% Occupancy 100% Major tenants GLA (sqm) Major tenants GLA (sqm) Australia Post 10,507 Danks 11,736 Shriro 10,409 Volvo 8,008
Note: 1. Excludes $1 million attributed to surplus land. 88 / Industrial / Core Plus Industrial Fund
41-57 South Centre Road 130-138 Link Road Melbourne Airport Business Park, Tullamarine Vic Melbourne Airport Business Park, Tullamarine Vic
Ideally located within the Melbourne Airport precinct, the site The property comprises a logistics facility, within the is in close proximity to all airport freight and logistics facilities Melbourne Airport Business Park, which is located to the as well as excellent immediate access to major freeway southern confines of Tullamarine Airport. The facility comprises systems. This new facility was completed and occupied in two stages, the Caterpillar Logistics tenancy, two level office May 2009, and features GLA of 13,716sqm incorporating a attached to a sprinklered, high bay (ten metre springing high clearance (ten metre) sprinklered warehouse with roller height) warehouse totalling 10,678sqm and providing both shutter doors and recessed loading docks, an external 15 on-grade and recessed dock loading. metre awning and efficient B-double access. The balance of this building comprises a further two level office attached to a sprinklered, high bay warehouse totalling 10,479sqm and providing both on-grade and recessed dock loading leased to the Victorian Government. Summary Summary Year built (or refurbished) 2009 Year built (or refurbished) 2006 Ownership 100% Ownership 100% Total GLA (sqm) 13,716 Total GLA (sqm) 21,157 Valuation (30 June 2013) Valuation (30 June 2013) Valuation $11.8 million Valuation $14.7 million Value ($/sqm) $860 Value ($/sqm) $695 Last external valuation date 30 June 2013 Last external valuation date 31 December 2012 Valuer m3 Property Valuer m3 Property Tenancy statistics Tenancy statistics WALE (by income) 5.9 years WALE (by income) 6.2 years Occupancy 100% Occupancy 100% Major tenant GLA (sqm) Major tenants GLA (sqm) DB Schenker 13,716 Victorian Electoral Commission 10,678 Caterpillar 10,479 Charter Hall Property Portfolio / 30 June 2013 / 89
55-65 Sky Road 309 Fitzgerald Road, Melbourne Airport Business Park, Tullamarine Vic Derrimut Vic
The property comprises a logistics facility, within the Situated on a 48,253sqm site is a modern distribution facility, Melbourne Airport Business Park, which is located to the which was constructed over three stages, commencing in southern confines of Tullamarine Airport. 1998 and completed in 2004. The facility comprises a total The Kathmandu facility comprises a two level office attached core GLA of 27,432sqm, made up of a 2,303sqm office and a to a sprinklered, high bay (ten metre springing height) 25,129sqm warehouse. warehouse totalling approximately 10,040sqm, both The property is an excellent modern logistics facility, enjoying on-grade and recessed dock loading provides for a convenient location, only 800 metres from the Western Ring B-double access. Road on and off ramps. The site coverage provides efficient B-double access and the flexibility to be subdivided into smaller tenancies.
Summary Summary Year built (or refurbished) 2006 Year built (or refurbished) 2002 Ownership 100% Ownership 100% Total GLA (sqm) 10,040 Total GLA (sqm) 27,432 Valuation (30 June 2013) Valuation (30 June 2013) Valuation $7.1 million Valuation $29.8 million Value ($/sqm) $707 Value ($/sqm) $1,086 Last external valuation date 31 December 2012 Last external valuation date 31 December 2012 Valuer m3 Property Valuer Jones Lang LaSalle Tenancy statistics Tenancy statistics WALE (by income) 3.3 years WALE (by income) 14.4 years Occupancy 100% Occupancy 100% Major tenants GLA (sqm) Major tenants GLA (sqm) Kathmandu 10,040 Fastline International 27,432 90 / Industrial / Core Plus Industrial Fund
30 Main Beach Road, 200 Holt Street, Pinkenba Qld Pinkenba Qld
Artist’s Impression
The Arrium Distribution Centre is a state of the art logistics The property comprises a 31,880sqm site, and it is proposed facility located on a large land holding of 4.22 hectares to construct new industrial buildings, providing a total GLA of strategically situated within the Trade Coast Precinct, close to circa 17,500sqm. The Eagle Farm/Pinkenba industrial precinct Brisbane Airport, the Port of Brisbane and the Brisbane CBD is one of the most tightly held industrial precincts in Brisbane on the north side of the river. and is sought after by industrial/commercial users, given its The facility has a GLA of 11,705sqm incorporating a high unparalleled access to the Gateway Arterial Network, Airport, clearance (9.7 metres) warehouse, with multiple access Port and the Brisbane CBD. points, together with two level offices and amenities, The property represents one of the last remaining large scale b-double access, an expansive marshalling area and on- freehold industrial development sites in the precinct and grade dock access. provides for drive around access from dual entry/exit ports.
Summary Summary Year built (or refurbished) 2008 Year built (or refurbished) Development site Ownership 100% Ownership 100% Total GLA (sqm) 11,705 Site area (ha) 3.18 Valuation (30 June 2013) Valuation (30 June 2013) Valuation $28.0 million Valuation $10.2 million Value ($/sqm) $2,392 Value ($/sqm) $321 Last external valuation date 31 December 2012 Last external valuation date 31 December 2012 Valuer Savills Valuer Knight Frank Tenancy statistics WALE (by income) 10.5 years Occupancy 100% Major tenant GLA (sqm) Smorgon Steel 11,705 Charter Hall Property Portfolio / 30 June 2013 / 91
140-160 Robinson Road, Toll, 7 Viola Place Geebung Qld Brisbane Airport Qld
140–160 Robinson Road comprises two industrial sites The property comprises a 14,920sqm leasehold site, located within the core industrial precinct of Geebung, improved with a newly completed logistics building, providing which is located within close proximity to Brisbane a 1,668sqm two level office and 4,881sqm warehouse, with Airport and the Gateway Motorway. The properties have a minimal internal clearance height of eight metres and an prominent frontage on Robinson Road, which is currently additional 1,370sqm of awnings and b-double access. Off- undergoing considerable gentrification toward a higher street parking is provided for 105 cars. office/showroom style product. The acquisition of both The property is located within the newly developed Brisbane the Robinson Road properties created an institutional Airport Business Park and sits alongside DHL, Repco and grade industrial estate. The metrics for both properties are Custom Fleet, providing further support for the location as a assessed as one single holding. logistics hub.
Summary Summary Year built (or refurbished) 2002-2006 Year built (or refurbished) 2007 Ownership 100% Ownership 100% Total GLA (sqm) 17,376 Total GLA (sqm) 6,550 Valuation (30 June 2013) Valuation (30 June 2013) Valuation $27.0 million Valuation $8.5 million Value ($/sqm) $1,554 Value ($/sqm) $1,298 Last external valuation date 31 December 2012 Last external valuation date 31 December 2012 Valuer Knight Frank Valuer Colliers International Tenancy statistics Tenancy statistics WALE (by income) 2.4 years WALE (by income) 3.7 years Occupancy 100% Occupancy 100% Major tenants GLA (sqm) Major tenant GLA (sqm) TJM (subsidiary of USA listed Toll Transport 6,550 9,310 Group CMI Ltd) Protector Alsafe (100% subsidiary 4,396 of Wesfarmers) Wild Republic (K&M Toys) 1,977 92 / Industrial / Core Plus Industrial Fund
Citiport Industrial Estate 80 -120 Canberra Street, 17 Sugarmill Road, Meeandah Qld Hemmant Qld
The Citiport Industrial Estate is located approximately nine The property comprises a level and regular shaped industrial kilometres north east of the Brisbane CBD in the heart of site of 4.8103 hectare (45,000sqm of useable) that is situated the Australia Trade Precinct. The estate is accessed directly on a high profile corner location in the established and land from Sugarmill Road and provides for good access and constrained industrial area of Hemmant within the southern manoeuvrability. Trade Coast precinct of Brisbane. The property comprises seven modern office and warehouse The property is within close proximity to the Port of Brisbane space erected in three buildings, together with 135 car and is easily accessed via Lytton Road and the Port of spaces. The estate has a GLA of 14,244sqm with approved Brisbane Motorway, with on/off ramps to the Motorway expansion potential of approximately 4,150sqm and ability to located approximately 700 metres to the east. The site is sell 3 separate allotments. also within close proximity to the Gateway Arterial Motorway, offering ease of access both north and south. Summary Summary Year built (or refurbished) 1991/1996 Year built (or refurbished) n/a Ownership 100% Ownership 100% Total GLA (sqm) 14,244 Total GLA (sqm) 45,000 Valuation (30 June 2013) Valuation (30 June 2013) Valuation $22.0 million Valuation $15.8 million Value ($/sqm) $1,545 Value ($/sqm) $350 Last external valuation date 31 December 2012 Last external valuation date 31 December 2012 Valuer Savills Valuer Colliers Tenancy statistics Tenancy statistics WALE (by income) 4.0 years WALE (by income) 9.4 years Occupancy 95.1% Occupancy 100% Major tenants GLA (sqm) Major tenants GLA (sqm) Thales 6,307 Tyne 45,000 Sandvik 4,391 CV Services 2,943 Charter Hall Property Portfolio / 30 June 2013 / 93
108 Faisal Hatia Way 450 Sherbrooke Road, Berrinba Qld Willawong QLD
Artist’s Impression Artist’s Impression
The LoganLink Industrial Park is strategically located in the The property is situated in the established Brisbane southern sought after Logan Motorway corridor, within close proximity suburb of Willawong, approximately 17 kilometres by road to the Gateway Motorway and is located approximately 22 from the Brisbane Central Business District and 3km from the radial kilometres south of the Brisbane CBD. This site is Acacia Ridge precinct. positioned to take advantage of Brisbane’s major transport The industrial area of Willawong is an emerging precinct with corridors. The site area of 3.46 ha with capacity to develop some large (5ha plus) vacant sites available that is expected a facility that can be leased in either one line of up to to become popular with transport and logistics users as 19,000sqm or as two separate tenancies ranging in sizes infrastructure upgrades take place and industrial land along between 4,900sqm and 13,882sqm. The two tenant scheme the Logan Motorway is developed over the next 5 years. will enjoy complete independence of operations via separate truck and car entries for each facility. Summary Summary Year built (or refurbished) n/a Ownership 100% Ownership 100% Site size (sqm) 61,425 Total GLA (sqm) 34,566 Total proposed GLA (sqm) 33,000 Valuation (30 June 2013) Valuation (30 June 2013) Valuation $8.0 million Valuation $12.3 million Value ($/sqm) $230 Value ($/sqm) $200 Last external valuation date 30 June 2013 Last external valuation date 30 June 2013 Valuer Jones Lang LaSalle Valuer m3 Property 94 / Industrial / Core Plus Industrial Fund
230-238 Gilmore Road, Coles Distribution Centre Berrinba, QLD 136 Horrie Miller Drive, Perth WA
Artist’s Impression
The site is located in the emerging prime industrial precinct The Coles Distribution Centre is a state-of-the-art logistics of Berrinba approximately 21 kilometres south-east of the facility located on a 25 hectare site strategically situated Brisbane CBD, 23 kilometres south of the Gateway Bridge within Perth Airport, ten kilometres east of the Perth CBD. and 28 kilometres from the Port of Brisbane. The centre is located on Horrie Miller Drive, midway from Berrinba has become a preferred location over several other its intersection with Tonkin Highway and Perth International older established industrial areas such as Acacia Ridge Terminal. Perth Airport is one of the major logistics hubs in and Richlands largely due to the ease of access for truck Western Australia, with tenants including Woolworths, Toll, movements from the Port of Brisbane and the Brisbane Electrolux and Linfox recently committing to large facilities Airport via the Gateway, Pacific & Logan Motorways which are along Horrie Miller Drive. the main link roads to Yatala, the Gold Coast and the western industrial precincts through to Ipswich and Toowoomba. Summary Summary Ownership 100% Year built (or refurbished) 2008 Site size (sqm) 78,295 Ownership 50% Total proposed GLA (sqm) 40,000 Total GLA (sqm) 81,647 Valuation (30 June 2013) Valuation (30 June 2013) Valuation $18.5 million Valuation $91.8 million Last external valuation date 30 June 2013 Value ($/sqm) $2,247 Valuer m3 Property Last external valuation date 30 June 2013 Valuer Jones Lang LaSalle Tenancy statistics WALE (by income) 14.9 years Occupancy 100% Major tenants GLA (sqm) Coles Group Ltd 81,647 Charter Hall Property Portfolio / 30 June 2013 / 95
123-135 Kewdale Road, 218 Bannister Road, Kewdale WA Canning Vale WA
The property is located approximately eight kilometres south The property incorporates a modern logistics facility that has of the Perth CBD, one kilometre south of Perth Airport and a gross lettable area of 98,295sqm with canopies, loading adjoins the Kewdale Freight Terminal. It is a proven transport docks and ancillary areas of a further 8,630sqm located within and distribution location, and is in close proximity to the the land constrained precinct of Canning Vale. The high quality Leach, Tonkin and Roe Highways. facility is in very good condition with the original improvements The 4.5 hectare site contains a former Woolworths distribution being circa 15-20 years old however approximately 21% centre, comprising approximately 2,071sqm of office and of the improvements have been constructed over the 26,947sqm of warehouse space. The facility provides last 2 years and are in new or near new condition. The complete drive around and double access, in addition to both improvements comprise a number of separate buildings on-grade and dock access. providing future flexibility.
Summary Summary Year built (or refurbished) 2007 Year built (or refurbished) 2011 Ownership 100% Ownership 50% Total GLA (sqm) 29,018 Total GLA (sqm) 98,265 Car spaces n/a Car spaces 950 Valuation (30 June 2013) Valuation (30 June 2013) Valuation $35.0 million Valuation $67.8 million Value ($/sqm) $1,206 Value ($/sqm) $1,373 Last external valuation date 30 June 2013 Last external valuation date 30 June 2013 Valuer Colliers Valuer Savills Tenancy statistics Tenancy statistics WALE (by income) 4.4 years WALE (by income) 10.5 years Occupancy 100% Occupancy 100% Major tenant GLA (sqm) Major tenants GLA (sqm) Chevron 14,362 Metcash Limited 98,265 Myer 12,585 Woolworths 2,071 96 / Industrial / Core Plus Industrial Fund
Woolworths Distribution Centre 4-20 Translink Avenue, Launceston Tas
The Woolworths Distribution Centre is a state-of-the-art logistics facility located on a 19.8 hectare site which adjoins the northern end of Launceston Airport and is approximately 15 kilometres from Launceston’s CBD. The building is highly energy efficient using the latest environmental controls and sustainability initiatives and also provides for significant expansion with development approval for the construction of another 25,000sqm of warehouse accommodation.
Summary Year built (or refurbished) 2012 Ownership 50% Total GLA (sqm) 45,041 Car spaces 394 Valuation (30 June 2013) Valuation $38.5 million Value ($/sqm) $1,709 Last external valuation date 30 June 2013 Valuer Jones Lang LaSalle Tenancy statistics WALE (by income) 23.7 years Occupancy 100% Major tenants GLA (sqm) Woolworths Ltd 45,041 Charter Hall Property Portfolio / 30 June 2013 / 97
309 Fitzgerald Road, Derrimut Vic 98 / Industrial / Charter Hall Direct Industrial Fund
Toll Fleet & Auto Logistics Centre Altona North Vic Charter Hall Property Portfolio / 30 June 2013 / 99 Charter Hall Direct Industrial Fund
Established in July 2010, the Charter Hall Direct Industrial Fund (DIF1) is an unlisted property fund which invests directly in a diversified selection of prime Australian industrial assets. The Fund aims to provide retail investors with sustainable and stable, tax-advantaged income payable quarterly.
Top 5 tenants By gross income
21% Coles
19% Woolworths
15% Grace Worldwide
15% Electrolux
12% Toll Holdings
Weighted Average Lease Expiry (years) By gross income
19.7 Coates Hire Distribution Centre 14.9 Coles Distribution Centre
13.0 Australia Post Distribution Centre
12.4 Toll Fleet & Auto Logistics Centre
11.5 Electrolux Distribution Centre
10.1 Grace Worldwide Logistics Facility
7.5 Woolworths Distribution Centre
12.2 WALE 100 / Industrial / Charter Hall Direct Industrial Fund Fund Statistics
Asset diversification Geographical diversification By current value By current value
Australia Post Distribution Centre Kingsgrove, NSW 8% Toll Fleet & Auto Logistics Centre Altona, Vic 13% 8% 32% Woolworths Distribution Centre Hoppers Crossing, Vic 19% Coates Hire Distribution Centre Kingston, Vic 10% 13% Grace Worldwide Logistics Facility Willawong, Qld 15% Electrolux Distribution Centre Beverley, SA 13% Coles Distribution Centre1 Perth Airport, WA 22% 22%1 25%
Victoria 32% Queensland 25% Western Australia 22%1 South Australia 13% New South Wales 8%
Note 1. Fund’s 25% interest Charter Hall Property Portfolio / 30 June 2013 / 101 Property Portfolio
June 2013 Capitalisation Rate 7.99% June 2013 Discount Rate 9.75%”
DIF Jun 2013 WALE (years) Weighted Avg Ownership % valuation A$M rent reviews (%) Australia Post Distribution Centre Kingsgrove, NSW 100% 16.8 13.0 3.00%
Toll Fleet & Auto Logistics Centre Altona, Vic 100% 26.8 12.4 3.50%
Woolworths Distribution Centre Hoppers Crossing, Vic 100% 41.3 7.5 3.00%
Coates Hire Distribution Centre Kingston, Vic 100% 21.0 19.7 4.00%
Grace Worldwide Logistics Facility Willawong, Qld 100% 31.9 10.1 3.50%
Electrolux Distribution Centre Beverley, SA 100% 27.1 11.5 3.50%
Coles Distribution Centre Perth Airport, WA 25% 45.91 14.9 2.75%
Total/Weighted average 210.8 12.2 3.25%
Note 1. Fund’s 25% interest 102 / Industrial / Charter Hall Direct Industrial Fund
Australia Post Distribution Centre Toll Fleet & Auto Logistics Centre Kingsgrove NSW Altona North Vic
The Australia Post Distribution Centre comprises an office The property comprises a new logistics facility of 6,310sqm and warehouse facility of 6,729sqm that is situated on a site that is situated on a site of 49,515sqm. Acquired in 2010, of 13,803sqm. Practical completion was reached in June the property is located at Altona North, 14 kilometres west 2011. The property is located within the Kingsgrove industrial of Melbourne’s CBD with direct access to the West Gate precinct, some 20 kilometres south-west of the Sydney CBD Freeway, the Port of Melbourne and Melbourne Airport. The and features convenient access to the M5 Motorway, Sydney sole tenant is a subsidiary of Toll Holdings, an ASX listed Airport and Port Botany. company with a market capitalisation of $4.1 billion.
Summary Summary Year built (or refurbished) 2011 Year built (or refurbished) 2010 Ownership 100% Ownership 100% Total GLA (sqm) 6,729 Total GLA (sqm) 6,310 Valuation (30 June 2013) Valuation (30 June 2013) Valuation $16.8 million Valuation $26.8 million Value ($/sqm) $2,497 Value ($/sqm) $4,2391 Last external valuation date 31 December 2012 Last external valuation date 30 June 2013 Valuer Savills Valuer Jones Lang LaSalle Tenancy statistics Tenancy statistics WALE (by income) 13.0 years WALE (by income) 12.4 years Occupancy 100% Occupancy 100% Major tenants GLA (sqm) Major tenants GLA (sqm) Australia Post 6,729 Toll Holdings 6,310
Note: 1. Reflects low site cover ratio of 13%. Site sales rate is $540/sqm Charter Hall Property Portfolio / 30 June 2013 / 103
Woolworths Distribution Centre Coates Hire Distribution Centre Hoppers Crossing Vic 29-47 Mudgee Street Kingston, Qld
The Woolworths Distribution Centre is a modern logistics The property was purpose built in 2012 for Coates Hire, facility situated on a site of 14.5 ha in the established who are Australia’s largest equipment hire company with over industrial locality of Hoppers Crossing, approximately 20kms 125 years experience. south-west of Melbourne CBD. The facility comprises of The property is situated on a site with a usable area of 5.4 ha 52,364sqm GLA with canopies and loading docks of a further that is located in the established industrial locality of Kingston, 5,354sqm. The sole tenant is Woolworths Limited, the largest approximately 24 kilometres south-east of the Brisbane CBD. retail company in Australia and New Zealand by market The property features significant exposure to the Logan capitalisation and sales. Motorway, which is one of South-East Queensland’s busiest transport routes.
Summary Summary Year built (or refurbished) 1989 (2010) Year built (or refurbished) 2012 Ownership 100% Ownership 100% Total GLA (sqm) 52,364 Total GLA (sqm) 54,1261 Valuation (30 June 2013) Valuation (30 June 2013) Valuation $41.3 million Valuation $21.0 million Value ($/sqm) $789 Value ($/sqm) $3871 Last external valuation date 30 June 2013 Last external valuation date 1 September 2012 Valuer Savills Valuer Savills Tenancy statistics Tenancy statistics WALE (by income) 7.5 years WALE (by income) 19.7 years Occupancy 100% Occupancy 100% Major tenants GLA (sqm) Major tenants GLA (sqm) Woolworths Ltd 52,364 Coates Hire 54,126
Note: 1. Net usable land area 104 / Industrial / Charter Hall Direct Industrial Fund
Grace Worldwide Logistics Facility Electrolux Distribution Centre Willawong, Qld Beverley, SA
The Grace Worldwide Logistics Facility is located at The brand new logistics facility incorporates a high clearance Willawong, 17 kilometres south of Brisbane’s CBD with easy warehouse with attached air conditioned offices and showroom access and egress to the Logan Motorway, Ipswich Motorway that has a combined gross lettable area of 25,562sqm. The and the Brisbane CBD. The facility comprises a GLA of facility was completed in December 2012 and was purpose 22,108sqm that is situated on a site of 38,929sqm. The sole built for Electrolux. tenant, Grace Worldwide, is the largest records management, The property is situated on a site of 4ha in the inner ring suburb removals and storage company in Australia. of Beverley, approximately 6 kilometres north west of the Adelaide CBD in an established industrial precinct, with good access to major arterial roads and is in close proximity to the Adelaide Airport and Port of Adelaide.
Summary Summary Year built (or refurbished) 2011 Year built (or refurbished) 2013 Ownership 100% Ownership 100% Total GLA (sqm) 22,108 Total GLA (sqm) 25,562 Valuation (30 June 2013) Valuation (30 June 2013) Valuation $31.9 million Valuation $27.2 million Value ($/sqm) $1,445 Value ($/sqm) $1,062 Last external valuation date 31 December 2012 Last external valuation date 19 October 2012 Valuer m3 Property Valuer Knight Frank Tenancy statistics Tenancy statistics WALE (by income) 10.1 years WALE (by income) 11.5 years Occupancy 100% Occupancy 100% Major tenants GLA (sqm) Major tenants GLA (sqm) Grace Worldwide 21,880 Electrolux Home Products Pty Ltd 25,562 Charter Hall Property Portfolio / 30 June 2013 / 105
Coles Distribution Centre Perth Airport, WA
The Coles Distribution Centre is a state-of-the-art logistics facility located on a 25 hectare site strategically situated within Perth Airport, ten kilometres east of the Perth CBD. The centre is located on Horrie Miller Drive, midway from its intersection with Tonkin Highway and Perth International Terminal. Perth Airport is one of the major logistics hubs in Western Australia, with tenants including Woolworths, Toll, Electrolux and Linfox recently committing to large facilities along Horrie Miller Drive.
Summary Year built (or refurbished) 2008 Ownership 25% Total GLA (sqm) 81,647 Valuation (30 June 2013) Valuation (25%) $45.9 million Value ($/sqm) $2,247 Last external valuation date 30 June 2013 Valuer Jones Lang LaSalle Tenancy statistics WALE (by income) 14.9 years Occupancy 100% Major tenants GLA (sqm) Coles Group Ltd 81,647
Grace Worldwide Logistics Facility, Willawong Qld 106 / Industrial / Charter Hall Direct Industrial Fund No.2
Coles Distribution Centre, Perth Airport WA Charter Hall Property Portfolio / 30 June 2013 / 107 Charter Hall Direct Industrial Fund No.2 The Charter Hall Direct Industrial Fund No.2 (DIF2) was established in December 2012 following the success in closing the first Charter Hall Direct Industrial Fund. DIF2 is an unlisted property fund progressively investing in a diversified portfolio of prime Australian industrial property assets.
Top 2 tenants By gross income
85% Coles Distribution Centre
15% Australia Post Distribution Centre
Annual lease expiry By net lettable area
0% Vacant
0% FY14
0% FY15
0% FY16
0% FY17
0% FY18
0% FY19
0% FY20
0% FY21
100% FY22+
Geographical diversification By current value
17% 83% Western Australia 83% Victoria 17% 108 / Industrial / Charter Hall Direct Industrial Fund No.2 Fund Statistics
June 2013 Capitalisation Rate 7.92% June 2013 Discount Rate 9.50%”
DIF2 Jun 2013 WALE (years) Weighted Avg Ownership % valuation A$M rent reviews (%) Australia Post Distribution Centre 100% 9.4 14.9 3.25% 136 Horrie Miller Drive, Perth WA Coles Distribution Centre 25% 45.91 14.9 2.75% Perth Airport WA Total/Weighted average 55.3 14.9 2.82%
Note: 1. Funds 25% ownership interest Charter Hall Property Portfolio / 30 June 2013 / 109
Australia Post Distribution Centre Coles Distribution Centre 15-21 Enterprise Drive, Rowville Vic Perth Airport, WA
This brand new, high-quality prime-grade industrial facility The Coles Distribution Centre is a state-of-the-art logistics is located in Rowville, some 25 kilometres south-east of the facility located on a 25 hectare site strategically situated Melbourne CBD. The property is fully occupied by Australia within Perth Airport, ten kilometres east of the Perth CBD. Post Stamp manufacturing and distribution business, The centre is located on Horrie Miller Drive, midway from Sprintpak. its intersection with Tonkin Highway and Perth International Terminal. Perth Airport is one of the major logistics hubs in Western Australia, with tenants including Woolworths, Toll, Electrolux and Linfox recently committing to large facilities along Horrie Miller Drive.
Summary Summary Year built (or refurbished) 2013 Year built (or refurbished) 2008 Ownership 100% Ownership 25% Total GLA (sqm) 6,468 Total GLA (sqm) 81,647 Valuation (30 June 2013) Valuation (30 June 2013) Valuation $9.4 million Valuation (25%) $45.9 million Value ($/sqm) $1,421 Value ($/sqm) $2,247 Last external valuation date 30 November 2012 Last external valuation date 30 June 2013 Valuer Savills Valuer Jones Lang LaSalle Tenancy statistics Tenancy statistics WALE (by income) 14.9 years WALE (by income) 14.9 years Occupancy 100% Occupancy 100% Major tenants GLA (sqm) Major tenants GLA (sqm) Australia Post 6,468 Coles Group Ltd 81,647 110 / Industrial / Core Logistics Partnership Core Logistics Partnership (CLP)
CLP was established in December 2012 with the investment strategy of acquiring a portfolio of institutional quality industrial logistics property assets in Australia and New Zealand. The Wholesale Partnership’s mandate is to secure modern properties with minimal capex requirements and a minimum portfolio WALE of 8 years.
Tenants By gross income
47% Metcash
25% Woolworths
15% Amcor
Annual lease expiry By net lettable area
0% Vacant
0% FY14
0% FY15
0% FY16
0% FY17
0% FY18
0% FY19
0% FY20
100% FY21+ Charter Hall Property Portfolio / 30 June 2013 / 111
Core Logistics Partnership (CLP)
Woolworths RDC, Launceston Tas
Summary Number of properties 6 Number of tenancies 4 Total GLA (sqm)1 172,040 Valuation (30 June 2013) Valuation $232.1 million Value ($/sqm) $1,244 Capitalisation rate 8.10% Discount rate 10.32% Tenancy statistics WALE (by income) 12.2 years Occupancy 100% Major tenants GLA(sqm) Metcash 52,678 Amcor 36,213 Woolworths 22,521 Property Ownership (%) Classification Amcor, Scoresby Vic 100% Industrial Fastline, Truganina Vic 100% Industrial Blackwoods, Mackay Qld 100% Industrial Darra, Qld (Landbank) 100% Industrial Metcash RDC, Canning Vale WA 50% Industrial Woolworths RDC, Launceston Tas 50% Industrial
Note: 1. Excludes Darra (Landbank) 112 / Diversified Diversified
Lacrosse Apartments, 675 LaTrobe Street, Docklands Charter Hall Property Portfolio / 30 June 2013 / 113 114 / Diversified / PFA Diversified Property Trust
Civic Tower 66-68 Goulburn Street, Sydney NSW Charter Hall Property Portfolio / 30 June 2013 / 115 PFA Diversified Property Trust
PFA Diversified Property Trust (PFA), is an unlisted property fund diversified across geographic location, property sector, tenant profile and lease expiry within Australia. The Trust was established in 2001 and currently invests in an office, industrial and retail property portfolio. Top 5 tenants By gross income
45% Australia Government (federal & state agencies) 7% PBL
6% Foxtel Management
6% AP Facilities
2% Woolworths and Woolworths liquor
Annual lease expiry By gross income
7% Vacant
8% FY14
10% FY15
6% FY16
32% FY17
28% FY18
4% FY19
1% FY20
4% FY21+
Geographical diversification By current value
6% 41% 9% New South Wales 41% Victoria 21% 9% Western Australia 14% Tasmania 9% ACT 9% 14% 21% Queensland 6% 116 / Diversified / PFA Diversified Property Trust Property Portfolio
June 2013 Capitalisation Rate 9.21% June 2013 Discount Rate 9.81%”
PFA Jun 2013 WALE (years) Weighted Avg Ownership % valuation A$M rent reviews (%) 657 Pacific Highway, St Leonards, NSW 100% 15.8 2.9 3.98%
706 Mowbray Road, Lane Cove, NSW 100% 23.0 4.3 3.39%
Civic Tower, 66-68 Goulburn Street Sydney, NSW 50% 63.01 2.8 3.98%
Riverdale Centre 49-65 Macquarie Street, Dubbo NSW 100% 12.0 5.4 3.92%
The Octagon Parramatta, NSW 50% 37.51 4.6 3.53%
390 St Kilda Road, Melbourne, Vic 100% 50.3 3.5 3.87%
Foxtel Building, 1-21 Dean Street Moonee Ponds, Vic 100% 26.0 3.8 3.00%
Anzac Square, 200 Adelaide Street Brisbane, Qld 100% 23.0 2.0 4.49%
Sevenoaks, 303 Sevenoaks Street Cannington, WA 100% 53.0 4.3 4.00% Homeworld Centre, 150-180 Soward Way, 100% 32.3 4.8 4.04% Tuggeranong ACT Lands Building, 134 Macquarie Street, Hobart Tas 100% 34.0 4.8 n/a
Total/Weighted average 369.9 3.9 3.49%
Note: 1. Trusts 50% ownership share Charter Hall Property Portfolio / 30 June 2013 / 117
657 Pacific Highway, 706 Mowbray Road, St Leonards NSW Lane Cove NSW
This modern B Grade office building comprises ground The property incorporates a multilevel, hi-tech industrial floor retail and eight upper level office accommodation plus complex comprising two three-level office buildings, two basement level parking for 47 vehicles. warehouse levels and four levels of basement parking and is located less than 10 kilometres from the Sydney CBD.
Summary Summary Year built (or refurbished) 1970 Year built (or refurbished) 1987 Grade B Grade n/a Ownership 100% Ownership 100% Total NLA (sqm) 3,666 Total NLA (sqm) 17,259 Typical floor plate (sqm) 454 Typical floor plate (sqm) 750 Car spaces 47 Car spaces 324 Valuation (30 June 2013) Valuation (30 June 2013) Valuation $15.8 million Valuation $23.0 million Value ($/sqm) $4,296 Value ($/sqm) $1,333 Last external valuation date 31 December 2012 Last external valuation date 31 December 2012 Valuer Knight Frank Valuer CBRE Tenancy statistics Tenancy statistics WALE (by income) 2.9 years WALE (by income) 4.3 years Occupancy 98% Occupancy 90% Major tenants NLA (sqm) Major tenants NLA (sqm) SKM 1,144 AP Facilities 11,587 St Leonards Health Club 849 Vintage & Vine 1,541 118 / Diversified / PFA Diversified Property Trust
Civic Tower Riverdale Centre 66-68 Goulburn Street, Sydney NSW 49-65 Macquarie Street, Dubbo NSW
Civic Tower is a 24-floor building comprising a ground floor The Riverdale Centre is a quality community shopping and foyer and separate retail area. Located on a prominent corner entertainment complex located in the heart of the strategically in the Sydney mid-town with frontage on to both Castlereagh located inland NSW city of Dubbo. The Centre includes a and Goulburn Streets its major tenants include Publishing Woolworths supermarket, specialty shops, and the only and Broadcasting Limited (PBL) and the Commonwealth cinema complex in Dubbo. Department of Public Prosecutions.
Summary Summary Year built (or refurbished) 2004 Year built (or refurbished) 1999 Grade A Grade Neighbourhood Ownership 50% Ownership 100% Total NLA (sqm) 23,176 Total NLA (sqm) 6,157 Typical floor plate (sqm) 975 Typical floor plate (sqm) n/a Car spaces 54 Car spaces 299 Valuation (30 June 2013) Valuation (30 June 2013) Valuation (50%) $63.0 million Valuation $12.0 million Value ($/sqm) $5,437 Value ($/sqm) $1,949 Last external valuation date 15 February 2013 Last external valuation date 30 June 2013 Valuer Knight Frank Valuer Jones Lang LaSalle Tenancy statistics Tenancy statistics WALE (by income) 2.8 years WALE (by income) 5.4 years Occupancy 98% Occupancy 99% Major tenants NLA (sqm) Major tenants NLA (sqm) PBL 10,432 Woolworths1 2,902 Reading Entertainment 2.058
Note: 1. Includes Woolworths liquor Charter Hall Property Portfolio / 30 June 2013 / 119
The Octagon 390 St Kilda Road, Parramatta NSW Melbourne Vic
This modern, seven-storey commercial building comprises The property is a refurbished older style office building ground floor lobby, retail and quality office space spread comprising 23 levels of office accommodation and five levels across eight octagonal pods. Located within the heart of the of basement parking for 219 vehicles. It’s rectangular floor established Parramatta CBD financial district, The Octagon plates achieve good levels of natural light and views from the has dual street frontage onto Phillip and George Streets. north-east and south-west elevations.
Summary Summary Year built (or refurbished) 1990 Year built (or refurbished) 1975 Grade A Grade B Ownership 50% Ownership 100% Total NLA (sqm) 20,773 Total NLA (sqm) 16,287 Typical floor plate (sqm) 330-550 Typical floor plate (sqm) 750 Car spaces 333 Car spaces 219 Valuation (30 June 2013) Valuation (30 June 2013) Valuation $37.5 million Valuation $50.3 million Value ($/sqm) $3,611 Value ($/sqm) $3,088 Last external valuation date 31 December 2012 Last external valuation date 31 December 2012 Valuer Jones Lang LaSalle Valuer Jones Lang LaSalle Tenancy statistics Tenancy statistics WALE (by income) 4.6 years WALE (by income) 3.5 years Occupancy 95.2% Occupancy 89% Major tenants NLA (sqm) Major tenants NLA (sqm) State Property Authority 17,213 Toll Transport 1,920 120 / Diversified / PFA Diversified Property Trust
Foxtel Building Anzac Square 1-21 Dean Street, Moonee Ponds Vic 200 Adelaide Street, Brisbane Qld
Purpose-built by Foxtel for its own occupation, and features Anzac Square offices is the commercial component of the virtually uninterrupted natural light and a central, four- award-winning Anzac Square heritage complex in the heart level high atrium with a translucent ceiling and suspended of the Brisbane CBD. The property is located close to public stairways. Adjoining the building is a two level car parking transport and Queen Street Mall and offers excellent tenant deck providing parking for 181 car spaces in addition to the amenity. 69 on grade car spaces.
Summary Summary Year built (or refurbished) 2004 Year built (or refurbished) 1999 Grade B Grade B Ownership 100% Ownership 100% Total NLA (sqm) 7,136 Total NLA (sqm) 6,180 Typical floor plate (sqm) 1,730 Typical floor plate (sqm) 1,010 Car spaces 250 Car spaces 28 Valuation (30 June 2013) Valuation (30 June 2013) Valuation (50%) $26.0 million Valuation $23.0 million Value ($/sqm) $3,643 Value ($/sqm) $3,722 Last external valuation date 31 December 2012 Last external valuation date 30 June 2013 Valuer CBRE Valuer Colliers Tenancy statistics Tenancy statistics WALE (by income) 3.8 years WALE (by income) 2.0 years Occupancy 100% Occupancy 70% Major tenants NLA (sqm) Major tenants NLA (sqm) Foxtel 7,104 State of Queensland (Health) 3,538 Charter Hall Property Portfolio / 30 June 2013 / 121
Sevenoaks Homeworld Centre 303 Sevenoaks Street, Cannington WA 150-180 Soward Way, Tuggeranong ACT
This modern four-level office building is situated in the Perth Homeworld Centre is a mixed-use property comprising a suburb of Cannington, approximately 12km from the Perth unique mix of convenience-style retail with a first floor office CBD. The property offers large floorplates which are highly use. Located at Tuggeranong, approximately 22 kilometres attractive to government and large corporate tenants for south-west of the centre of Canberra, Homeworld is anchored spatial efficiencies, and two internal atriums within the building by Aldi and Dan Murphy’s. that enhance natural lighting.
Summary Summary Year built (or refurbished) 1992 Year built (or refurbished) 1987 Grade B Grade Sub-Regional Ownership 100% Ownership 100% Total NLA (sqm) 20,817 Total NLA (sqm) 12,200 Typical floor plate (sqm) 5,500 Typical floor plate (sqm) n/a Car spaces 100 Car spaces 333 Valuation (30 June 2013) Valuation (30 June 2013) Valuation $53.0 million Valuation $32.3 million Value ($/sqm) $2,546 Value ($/sqm) $2,648 Last external valuation date 31 December 2012 Last external valuation date 31 December 2012 Valuer CBRE Valuer Savills Tenancy statistics Tenancy statistics WALE (by income) 4.3 years WALE (by income) 4.8 years Occupancy 100% Occupancy 89% Major tenants NLA (sqm) Major tenants NLA (sqm) Western Australian Government 20,817 Commonwealth of Australia 3,739 Aldi Foods 1,362 122 / Diversified / PFA Diversified Property Trust
Lands Building 134 Macquarie Street, Hobart Tas
The Lands Building is a 10 level office complex plus a basement with 16 car parks and archival quality storage spaces, and located in the prime southern precinct of Hobart’s CBD. The property underwent a major refurbishment in 1998 to maintain its A grade status.
Summary Year built (or refurbished) 1975 Grade A Ownership 100% Total NLA (sqm) 11,675 Typical floor plate (sqm) 1,182 Car spaces 17 Valuation (30 June 2013) Valuation (50%) $34.0 million Value ($/sqm) $2,913 Last external valuation date 31 December 2012 Valuer Jones Lang LaSalle Tenancy statistics WALE (by income) 4.8 years Occupancy 100% Major tenants NLA (sqm) State Government of Tasmania 11,675 Charter Hall Property Portfolio / 30 June 2013 / 123
706 Mowbray Road, Lane Cove NSW 124 / Diversified / Charter Hall Opportunity Fund No.4
275 George Street, Brisbane Qld Charter Hall Property Portfolio / 30 June 2013 / 125 Charter Hall Opportunity Fund No.4 Charter Hall’s Opportunity Fund No.4 (CHOF4) was launched in 2005. The majority of CHOF4’s assets have been realised, with one asset remaining in the portfolio.
Home HQ North Shore Artarmon NSW
Summary Status Completed and leased Year built (or refurbished) 2010 Ownership 100% Total GLA (sqm) 22,186 Car spaces 503 Major tenants NLA (sqm) Freedom 3,171 The Good Guys 3,076 JB HiFi 1,289
Located in Artarmon, the award-winning Home HQ North Shore, is the first integrated household retail centre to achieve a 4 star Green Star rating for a household retail development in Australia. Comprising approximately 22,186sqm of retail space with customer parking for 503 cars, the centre offers a one-stop shopping destination for all home, entertainment, technology and lifestyle needs.
Realised Projects
Summary 275 George Street, Brisbane Qld Northbank Plaza, 69 Ann Street, Brisbane Qld 420 George Street, Brisbane Qld Gepps Cross Centre, Adelaide SA Gepps Cross Trade Centre, Adelaide SA Alluvion, 58 Mounts Bay Road, Perth WA
Alluvion, Perth WA Northbank Plaza, Brisbane Qld 126 / Diversified / Charter Hall Opportunity Fund No.5
WorkZone 202 Pier Street, Perth WA Artist’s Impression Charter Hall Property Portfolio / 30 June 2013 / 127 Charter Hall Opportunity Fund No.5 Charter Hall’s Opportunity Fund No.5 (CHOF5) was launched in early 2007. The Fund’s mandate is to identify, acquire and deliver property development and value-add opportunities across various sectors, including commercial, industrial, household retail and infill residential sectors located primarily in capital cities and metropolitan markets across Australia and New Zealand.
Little Bay Cove 1408 Anzac Parade, Little Bay NSW
Summary Status Estate creation works underway Ownership 50% Development Alliance TA Global Berhad No. of potential dwellings >500
Artist’s Impression
One of Sydney’s last remaining coastal communities, Little Bay Cove is located on the southern-end of the prime eastern suburbs coastline, just 14 kilometres from the Sydney CBD. Situated on 13.6 hectares, this master planned community will feature approximately 570 dwellings, comprising architecturally designed apartments, courtyard homes plus vacant land lots, most with coastal views. The community is within walking distance to Little Bay Beach, a local retail village and prestigious golf courses. 128 / Diversified / Charter Hall Opportunity Fund No.5
Aquilo Lacrosse Apartments - Stage 1 34-94 Oak Avenue, Mentone Vic 675 LaTrobe Street Docklands, Melbourne Vic
Aquilo is a master planned community located in the sought- Lacrosse is situated in the heart of Docklands on La Trobe after bayside suburb of Mentone, approximately 20km Street, just 200m from the Victoria Harbour waterfront. The southeast of Melbourne’s CBD. The community comprises building comprises 312 apartments over 21 levels with 151 car 119 two storey architecturally designed townhouses designed parking spaces and 1,350sqm of retail and commercial space to achieve a 5 star Energy Efficient rating. fronting La Trobe Street and the Etihad Stadium concourse. The 3.33 hectare site is currently being developed and offers Lacrosse is the first multi-unit high rise apartment development excellent proximity to Mentone Beach, parklands, public in Victoria to have the National Broadband Network (NBN) transport, shopping facilities, quality schools and local cafes. delivered and installed and offers a modern urban lifestyle with all the luxuries of harbourside living on the fringe of the CBD with easy pedestrian access to Southern Cross Station.
Summary Summary Status Under construction and >96% pre-sold Status Completed and apartments 98% sold Ownership 100% Ownership 100% No. of dwellings 119 No. of dwellings 312 Charter Hall Property Portfolio / 30 June 2013 / 129
WORKZONE The Park Megacentre 202 Pier Street, Perth WA 700 Caroline Road, Hastings NZ
Artist’s Impression
WorkZone is one of Perth’s most innovative and sustainable The Park Megacentre enjoys a prime location on the CBD office developments located in the rapidly developing fringe in Hastings, New Zealand. On completion it will CBD fringe. comprise 25,000sqm of large format retail space with parking This campus style workplace comprises a total NLA of for 750 cars and is the premier integrated household centre 27,910sqm across two A-grade buildings with large, open within the region of Hawkes Bay. Retailers Warehouse Group, and flexible floor plates of approximately 2,000sqm Mitre 10 Mega and Fishing Camping Outdoors are complete WorkZone has been designed to achieve a 5 star Green and open for trade. Star – Office As Built V3 rating and a 5 star NABERS Energy rating and completion is due in September 2013.
Summary Summary Construction complete with Completed with progressive staged Status Status 76% pre-lease to Leighton Contractors sale and settlements underway Ownership 100% Ownership 100% Total NLA (sqm) 27,910 Total NLA (sqm) 25,500 Building A: 2,440 Car spaces 750 Typical floor plate (sqm) Building B: 1,950 Car spaces 224 130 / Diversified / Charter Hall Diversified Property Fund
53 Berry Street, North Sydney NSW Charter Hall Property Portfolio / 30 June 2013 / 131 Charter Hall Diversified Property Fund Charter Hall Diversified Property Fund (DPF), launched in November 2005, as an unlisted retail investor fund investing in quality assets across office, retail and industrial sectors throughout Australia.
Top 4 tenants By gross income
47% Central Queensland University 10% Schenker Australia
5% Visual Design Concepts
5% Jets Transport Express
Annual lease expiry By Net Lettable Area
0% Vacant
9% FY14
14% FY15
21% FY16
0% FY17
7% FY18
0% FY19
0% FY20
49% FY21+
Geographical diversification By current value
12% 88% New South Wales 88% Victoria 12% 132 / Diversified / Charter Hall Diversified Property Fund Property Portfolio
June 2013 Capitalisation Rate 8.35% June 2013 Discount Rate 9.42%”
DPF Jun 2013 WALE (years) Weighted Avg Ownership % valuation A$M rent reviews (%) 400 Kent Street, Sydney NSW 75% 42.91 8.2 3.79%
53 Berry Street, North Sydney NSW 100% 18.8 2.6 3.58% 95 South Centre Road and 1 and 15 Jets Court, 100% 8.2 2.2 2.79% Tullamarine Vic Total/Weighted average 69.9 5.5 3.55%
Note: 1. Trusts 75% ownership share Charter Hall Property Portfolio / 30 June 2013 / 133
400 Kent Street1, 53 Berry Street1, Sydney NSW North Sydney NSW
Situated in the western corridor of the CBD, 400 Kent Street 53 Berry Street, is a modern seven level office building comprises an 11 level office building and retains the façade of situated on the high profile south western corner of Berry and a former heritage building. Miller Streets in the North Sydney CBD. The property has prominent retail exposure.
Summary Summary Year built (or refurbished) 1992 (refurbished in 2005) Year built (or refurbished) 1988 Grade B Grade B Ownership 75% Ownership 100% Total NLA (sqm) 10,461 Total NLA (sqm) 3,536 Typical floor plate (sqm) 866 Typical floor plate (sqm) 550 Car spaces 10 Car spaces 30 Valuation (30 June 2013) Valuation (30 June 2013) Valuation $42.9 million Valuation $18.8 million Value ($/sqm) $5,477 Value ($/sqm) $5,304 Last external valuation date 30 June 2013 Last external valuation date 30 June 2013 Valuer Savills Valuer CBRE Tenancy statistics Tenancy statistics WALE (by income) 8.2 years WALE (by income) 2.6 years Occupancy 100% Occupancy 100% Major tenants NLA (sqm) Major tenants NLA (sqm) Central Queensland University 9,541 National Credit Insurance Providers 550 UGL 549
Note: Sold post 30 June 2013 134 / Diversified / Charter Hall Diversified Property Fund
95 South Centre Road and 1 and 15 Jets Court, Tullamarine Vic
South Centre Road and Jets Court combines a portfolio of three industrial leasehold investments located in the new Melbourne Airport Business Park, adjacent to the Melbourne Airport.
Summary Year built (or refurbished) 2003/2004 Grade Industrial Ownership 100% Total NLA (sqm) 10,462 Typical floor plate (sqm) n/a Car spaces 134 Valuation (30 June 2013) Valuation $8.2 million Value ($/sqm) $785 Last external valuation date 31 December 2012 Valuer m3 Property Tenancy statistics WALE (by income) 2.2 years Occupancy 100% Major tenants NLA (sqm) Schenker 5,042 Gibsons Freight 3,004 Jets Transport 2,416 Charter Hall Property Portfolio / 30 June 2013 / 135
400 Kent Street Sydney NSW
400 Kent Street, Sydney NSW 136 / Index Index
Office Office Charter Hall Office Trust (CHOT) Office mandates New South Wales Queensland CitiCentre, 2 Park Street, Sydney 15 Brisbane Square, Brisbane 38 No.1 Martin Place, Sydney 15 275 George Street, Brisbane 38 Allianz Centre, 2 Market Street, Sydney 16 100 Skyring Terrace, Brisbane 39 59 Goulburn Street, Sydney 16 Western Australia The Denison, 65 Berry Street, North Sydney 17 Charter Grove, 29-57 Christie Street, St Leonards 17 Bankwest Place and Raine Square, Perth 39 Avaya House, 123 Epping Road, Macquarie Park 18 Charter Hall Direct Property Fund (CHDPF) Wentworth Place, 9 Wentworth Street, Parramatta 18 ATO, 266 King Street, Newcastle 19 New South Wales Victoria 68 Pitt Street, Sydney 46 165 Walker Street, North Sydney 46 Argus Centre, 300 LaTrobe Street, Melbourne 19 504 Pacific Highway, St Leonards 47 150 Lonsdale Street, Melbourne 20 2 Wentworth Street, Parramatta 47 171 Collins Street, Melbourne 20 5 Queens Road, Melbourne 21 Victoria ATO, 6-20 Gladstone Street, Moonee Ponds 21 71 Queens Road, Melbourne 48 Queensland 200 Queen Street, Melbourne 48 1 Nicholson Street, Melbourne 49 175 Eagle Street, Brisbane 22 Capital Hill, 83-85 George Street, Brisbane 22 Queensland Western Australia 300 Adelaide Street, Brisbane 49 Eastpoint Plaza, 233-237 Adelaide Terrace, Perth 23 Western Australia ACT 181 St Georges Terrace, Perth 50 Australia Place, 14 Mort Street, Canberra 23 130 Stirling Street Trust (CHIF7) Core Plus Office Fund (CPOF) 130 Stirling Street, Perth WA 53 New South Wales 144 Stirling Street Trust (CHIF8) 331 and 333 George Street, Sydney 30 Hatch Building 144 Stirling Street, Perth WA 55 9 Castlereagh Street, Sydney 30 685 LaTrobe 167 Macquarie Street, Sydney 31 St George Bank, 4-16 Montgomery Street, Kogarah 31 Victoria Victoria 685 La Trobe Street, Melbourne Vic 57 11-33 Exhibition Street, Melbourne 32 No.1 Martin Place Trust (1MPT) 570 Bourke Street, Melbourne 32 New South Wales Queensland No.1 Martin Place, Sydney 59 Brisbane Square, Brisbane 33 275 George Street, Brisbane 33 Northbank Plaza, 69 Ann Street, Brisbane 34 100 Skyring Terrace, Brisbane 34 South Australia 51 Pirie Street, Adelaide 35 Bank SA, 97 William Street, Adelaide 35 BHP House, 225 St Georges Terrace, Perth 36 Bankwest Place and Raine Square, Perth 36 109 St Georges Terrace, Perth 37 Charter Hall Property Portfolio / 30 June 2013 / 137
Retail Retail Charter Hall Retail REIT (CQR) Charter Hall Retail REIT (CQR) New South Wales South Australia Bathurst Chase, Bathurst 65 Wharflands Plaza, Port Augusta 67 Cooma Woolworths, Cooma 65 Renmark Plaza, Renmark 67 Cootamundra Woolworths, Cootamundra 65 Western Australia Dubbo Square, Dubbo 65 Earlwood Coles, Earlwood 65 Albany Plaza, Albany 67 Pemulwuy Marketplace, Greystanes 65 Ballajura Central, Ballajura 67 Mackenzie Mall, Glen Innes 65 Carnarvon Central, Carnarvon 67 Goonellabah Village, Goonellabah 65 Collie Central, Collie 67 Gordon Village Centre, Gordon 65 Esperance Boulevard, Esperance 67 Carnes Hill Marketplace, Horningsea Park 65 Kalgoorlie Central, Kalgoorlie 67 Jerrabomberra Village, Jerrabomberra 65 Coles, Maylands 67 Kings Langley Shopping Centre, Kings Langley 65 Coles, Narrogin 67 Highlands Marketplace, Mittagong 65 South Hedland Shopping Centre, South Hedland 67 Balo Square, Moree 65 Swan View Shopping Centre, Swan View 67 Morisset Shopping Centre, Morisset 65 Wanneroo Central, Wanneroo 67 Lake Macquarie Fair, Mt Hutton 65 ACT Mount Hutton Plaza, Mt Hutton 65 Mudgee Metroplaza, Mudgee 65 Woolworths, Dickson 68 Sunnyside Mall, Murwillumbah 65 Manuka Terrace, Manuka 68 Narrabri Coles, Narrabri 65 Erindale Shopping Centre, Wanniassa 68 Kierath’s Shopping Square, Narromine 65 Tasmania Orange Central, Orange 65 Parkes Metroplaza, Parkes 65 Coles, Newstead 68 Rosehill Woolworths, Parramatta 65 Woolworths, Smithton 68 Rutherford Marketplace, Rutherford 65 Woolworths, Wynyard 68 Gowrie Street Mall, Singleton 65 Retail Partnership No.1 (RP1) Tamworth Marketplace, Tawworth 65 Thornleigh Marketplace, Thornleigh 65 New South Wales Tumut Coles, Tumut 65 Carnes Hill Marketplace, Horningsea Park 71 Wellington Coles, Wellington 65 Highlands Marketplace, Mittagong 71 West Ryde Marketplace, West Ryde 65 Pemulwuy Marketplace, Greystanes 71 Windsor Marketplace, Windsor 65 Rutherford Marketplace, Rutherford 71 Young Woolworths, Young 65 Thornleigh Marketplace, Thornleigh 71 Victoria West Ryde Marketplace, West Ryde 71 Windsor Marketplace, Windsor 71 Coles, Bairnsdale 66 Lansell Square, Kangaroo Flat (Bendigo) 66 Victoria Pakington Strand, Geelong West 66 Pakington Strand, Geelong West 71 Safeway, Kerang 66 Queensland Kyneton Shopping Centre, Kyneton 66 Olive Tree Shopping Centre, Lilydale 66 Gladstone Square, Gladstone 71 Coles, Moe 66 Western Australia Kmart, Moe 66 Wanneroo Central, Wanneroo 71 Queensland Retail Partnership No.2 (RP2) Albany Creek Shopping Centre, Albany Creeky 66 Tablelands Village, Atherton 66 New South Wales Bribie Island Shopping Centre, Bongaree 66 Bateau Bay Square, Bateau Bay 73 Caboolture Park Shopping Centre, Caboolture 66 Currimundi Markets, Currimundi 66 Gatton Plaza, Gatton 66 Gladstone Shopping Centre, Gladstone 66 Bay Plaza, Pialba 66 Kallangur Fair, Kallangur 66 Sydney Street Markets, Mackay 66 Mareeba Plaza, Mareeba 66 Moranbah Fair, Moranbah 66 Allenstown Plaza, Rockhampton 66 Springfield Fair, Springfield 66 138 / Index Index
Retail Industrial Bunnings Partnership Core Plus Industrial Fund (CPIF) New South Wales New South Wales Bunnings, Armidale 75 Volkswagen Distribution Centre, Chullora 86 Bunnings, Castle Hill 75 372 Eastern Valley Way, Chatswood 86 Bunnings, Chatswood 75 56 Anzac Street, Chullora 87 Bunnings, Kirrawee 75 15 Huntingwood Drive, Huntingwood 87 Bunnings, Narellan 75 Victoria Bunnings, Rouse Hill 75 Bunnings, Taree 75 Schenker Facility, Melbourne Airport 88 130-138 Link Road, Melbourne Airport 88 Victoria Kathmandu Facility, Melbourne Airport 89 Bunnings, Rosebud 75 Fastline Facility, Derrimut 89 Queensland Queensland Bunnings, Stafford 75 Smorgon Distribution Centre, Pinkenba 90 Wiley Stafford 75 200 Holt Street, Pinkenba 90 140-160 Robinson Road, Geebung 91 Charter Hall Direct Retail Fund (DRF) Toll Facility, Brisbane Airport 91 New South Wales 17 Sugarmill Road, Meeandah 92 Menai Central, Sydney 76 80-120 Canberra Street, Hemmant 92 108 Faisal Hatia Way, Berrinba 93 Victoria 450 Sherbrooke Road, Willawong 93 Home HQ Nunawading, Melbourne 76 230-238 Gilmore Road, Berrinba Western Australia Coles Distribution Centre, Perth Airport 94 123-135 Kewdale Road, Kewdale 95 Metcash Distribution Centre, Canning Vale 95 Tasmania Woolworths Distribution Centre, Launceston 96 Direct Industrial Fund (DIF1) New South Wales Australia Post Distribution Centre, Kingsgrove 102 Victoria Toll Fleet & Auto Logistics Centre, Altona 102 Woolworths Distribution Centre, Hoppers Crossing 103 Queensland Coates Hire Distribution Centre, Kingston 103 Grace Worldwide Logistics Facility, Willawong 104 South Australia Electrolux Distribution Centre, Beverley 104 Western Australia Coles Distribution Centre, Perth 105 Direct Industrial Fund No.2 (DIF2) Western Australia Australia Post Distribution Centre, Perth 109 Coles Distribution Centre, Perth 109 Charter Hall Property Portfolio / 30 June 2013 / 139
Industrial Diversified Core Logistics Partnership (CLP) PFA Diversified Trust (PFA) Victoria New South Wales Amcor, Scoresby 111 657 Pacific Highway, St Leonards 119 Fastline, Truganina 111 706 Mowbray Road, Lane Cove 119 Civic Tower, 66-68 Goulburn Street, Sydney 120 Queensland Riverdale Centre 49-65 Macquarie Street, Dubbo 120 Blackwoods, Mackey 111 The Octagon, Parramatta 121 Darra 111 Victoria Western Australia 390 St Kilda Road, Melbourne 121 Metcash RDC, Canning Vale 111 Foxtel Building, Moonee Ponds 122 Tasmania Queensland Woolworths RDC, Launceston 111 Anzac Square, 200 Adelaide Street Brisbane 122 Western Australia Sevenoaks, 303 Sevenoaks Street Cannington 123 ACT Homeworld Centre, Tuggeranong 123 Tasmania Lands Building, 134 Macquarie Street, Hobart 124 Charter Hall Opportunity Fund No.4 (CHOF4) New South Wales Home HQ North Shore, Artarmon 127 Charter Hall Opportunity Fund No.5 (CHOF5) New South Wales Little Bay Cove, Little Bay 129 Victoria Aquilo, Mentone 130 Lacrosse Apartments, Melbourne 130 Western Australia WORKZONE, Perth 131 New Zealand The Park Megacentre, Hastings 131 Diversified Property Fund (DPF) New South Wales 400 Kent Street, Sydney 135 53 Berry Street, North Sydney 135 Victoria 95 South Centre Rd & 1 and 15 Jets Court, Tullamarine 136 140 / Further information
No.1 Martin Place Sydney, NSW Charter Hall Property Portfolio / 30 June 2013 / 141 Further information
Listed enquiries Unlisted enquiries Kylie Ramsden Nick Kelly Head of Listed Investor Relations Head of Investor Relations +61 2 8295 1016 +61 2 8908 4028 [email protected] [email protected]
Disclaimer: This document has been prepared by Charter Hall Group (Charter Hall Limited (ABN 57 113 531 150) and Charter Hall Funds Management Limited (ABN 31 082 991 786) (AFSL 262861) as the responsible entity for Charter Hall Property Trust (ARSN 113 339 147) (together, the Charter Hall Group or the Group). It is a summary and does not purport to be complete. It is not intended to be relied upon as advice to investors or potential investors and does not take into account the investment objectives, financial situation or needs of any particular investor. A reader should, before making any decisions in relation to their investment or potential investment in the Charter Hall Group, seek their own professional advice. This document is not an offer or invitation for subscription or purchase of securities or other financial products. Indications of, and guidance on, future earnings and financial position and performance are “forward-looking statements”. Due care and attention has been used in the preparation of any forward-looking statements. Such forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors, many of which are beyond the control of the Group, that may cause actual results to differ materially from those expressed or implied in such statements. There can be no assurance that actual outcomes will not differ materially from these statements. Except as required by law, the Group does not undertake any obligation to publicly update or review any forward - looking statements, whether as a result of new information or future events. This information has been made available to the recipient for information purposes only. It is not intended to be, and does not constitute a product disclosure statement, prospectus, short form prospectus or profile statement as those terms are defined in the Corporations Act. It does not constitute an offer for the issue, sale or purchase of any securities, or any recommendation in relation to investing in any asset. This document has been prepared without taking account of any particular investor’s objectives, financial situation or needs. For this reason, it is important that you consider the relevant PDS for the offer and consider whether to seek appropriate professional advice before making any investment decision. Entities within the Charter Hall Group may receive fees for managing the assets of, and providing resources to each Fund. For more detail on fees, see the relevant PDS.
Charter Hall fund’s currently accepting investments The responsible entity of Charter Hall Direct Property Fund (“CHDPF”) Charter Hall Property Securities Fund (“CHPSF”) and Charter Hall Direct Industrial Fund No.2 (“DIF2) is Charter Hall Direct Property Management Limited (“CHDPML”) (ABN 56 073 623 784, AFSL 226849). CHDPML has issued a product disclosure statement (“PDS”) for CHDPF dated 20 December 2010, CHPSF dated 19 November 2010 and DIF2 dated 17 December 2012. The PDSs for the aforementioned funds (“Funds”) set out the offer to apply for units in the Funds. If you are considering an investment in a Fund or Funds you should read the relevant PDS in its entirety and consider the information set out in the PDS in relation to the offer. You can request a copy of a Fund’s PDS, free of charge, by calling CHDPML on 1300 652 790. Applications for units must be made in the application form acompanying the relevant PDS.