abacus property group property book 2016 Property Book 2016 101 CONTENTS 02 Investment portfolio 03 Retail properties 06 Office properties 12 Industrial properties 16 Storage properties – ACT 17 Storage properties – NSW 21 Storage properties – NZ 24 Storage properties – QLD 28 Storage properties – VIC 34 Minority properties 37 Small properties, inventory and other assets 102 Abacus Property Group 710 collins street melbourne vic Property Book 2016 01 INVESTMENT PORTFOLIO e principl investment property portolio comprises sset one 0 or more by Abcus BOOK VALUE BOOK VALUE CONTENT SECTOR MILLION PROPERTY STATE SECTOR MILLION rincipl investment portolio iversiie 71 Asiel ll Asiel etil tore investment portolio tore 7 iverpool l iverpool etil inority ssets iversiie 6 ccus rs ille oppin entre ccus rs etil mll properties nventory n oter ssets iversiie utyce ity oppin entre risbne etil TOTAL 1,568 Total Retail 344 710 ollins treet elbourne Ofice Westpc ouse Aelie A Ofice 201 ciic iy t eonrs Ofice ABACUS PROPERTY GROUP IS A DIVERSIFIED LISTED A-REIT 1 Allr treet nberr A Ofice INCLUDED IN THE S&PAS 200 INDE (ASABP) 1 rtin lce yney Ofice As t 0 une 2016 Abcus roperty roup 16 million in totl property Virini rk entlei st Ofice ssets on blnce seet is totl comprises te principl investment portolio ueen treet risbne Ofice n te store investment portolio s ell s number o smller portolios Vrsity kes properties ol ost Ofice Total Offie 436 nterests in number o te bove properties re el trou oint ventures 176 ume iy mpbelliel nustril or ic e euity ccount in re Alerley nustril urter inormtion on Abcus ctivities is vilble rom our ebsite t PMP rons o lyton nustril wwwaauspropertyomau 16 Austrlis rive errimut nustril inkenb properties inkenb nustril Total Industrial 91 TOTAL 871 02 Abacus Property Group RETAIL PROPERTIES Ownership interest 100% ASHFIELD MALL LIVERPOOL ROAD, ASHFIELD, NSW Cap rate 6.0% Ashfield Mall is a sub-regional shopping centre located Valuation date April 2016 10km south-west of the Sydney CBD, close to the railway Acquisitions date September 1997 station and bus interchange. The fully enclosed four level building has four anchor tenants and over 80 specialty shops. Site area 21,890m2 The centre’s MAT (Moving Annual Turnover) has increased to 2 Net lettable area 24,661m over $190 million since acquisition. Occupancy 97% Ashfield is a core asset that we have owned for many years. WALE by income 5.9 years Our strategy remains to position Ashfield Mall as the quality Rent review food and convenience offer for the Sydney inner west CPI and Fixed structure suburbs. Recent DA approvals will result in an upgrade to the centre’s frontage, signage and forecourt positively enhancing Major tenants Woolworths, Coles, Kmart the centres ambience with improved alfresco dining options. by income and ALDI We anticipate further growth in MAT as we improve the fresh Parking spaces 1,074 food offering and continue to re-mix tenancies improving the Valuation range overall retail offer. Additional development projects will add extra retail NLA and $70-80m $80-90m $90-100m $100-150m $150m+ childcare facilities for 100 children and a 700m2 24 hour gym. Ownership interest 100% LIVERPOOL PLAZA MACQUARIE STREET, LIVERPOOL, NSW Cap rate 7.38% Liverpool Plaza is a neighbourhood shopping centre Valuation date June 2015 occupying a prime location on the Macquarie pedestrian Acquisition date August 2004 mall in the Liverpool CBD, approximately 34km south-west 2 of the Sydney CBD. The fully enclosed centre comprises Site area 8,904m of 50+ ground floor retail tenancies, mezzanine level Net lettable area 6,071m2 offices and 300 car parks in an open rooftop. Liverpool Plaza completed a full refurbishment by 2013 which has Occupancy 91% modernised the internal retail malls, improved entry WALE by income 4.1 years canopies and upgraded external facades. Rent review CPI and Fixed Our continued strategy revolves around leasing up vacant structure space following its refurbishment program, to deliver an Major tenants ALDI, ANZ, St George interesting CBD retail offer including dining and fast food by income and IMB in addition to its current supermarket and fresh food offer. Parking spaces 300 Valuation range $0-20m $20-30m $30-40m $40-50m $50-60m Property Book 2016 03 RETAIL PROPERTIES CONTINUED Ownership interest 100% BACCHUS MARSH VILLAGE SHOPPING CENTRE 176 MAIN STREET, BACCHUS MARSH, VIC Cap rate 6.75% Bacchus Marsh Village Shopping Centre is a sub-regional centre Valuation date December 2015 located approximately 49km west of Melbourne’s CBD. The Centre Acquisition date July 2013 forms a large and integral part of Bacchus Marsh’s retail and commercial precinct and is the township’s key shopping strip. Site area 47, 30 8m 2 The centre has undergone a very strong redevelopment with a Net lettable area 17,427m 2 number of projects including expansions and full refurbishments Occupancy 73% of its main anchors Coles and ALDI. These anchor tenants are WALE by income 4.1 years supported by 68 specialties. The centre has been positioned as the convenience shopping destination for all residents of Bacchus Rent review CPI and Fixed and its primary trade area. Improved car parking on site comprises structure a mixture of on-grade and multi-level deck parking for Major tenants approximately 680 vehicles. Coles, ALDI and Target Country by income Our main focus is to deliver 100% occupancy in line with the Parking spaces 680 development project leasing strategy which will be enhanced Valuation range following the finalisation and full refurbishment of the Coles supermarket expansion. $20-30m $30-40m $40-50m $50-60m $60-70m Vacant land on site has been developed into a Coles express service station which will increase customer visitation and provide valuable capital appreciation. Ownership interest 75% LUTWYCHE CITY SHOPPING CENTRE CNR LUTWYCHE ROAD AND CHALK STREET, Cap rate 7.25% LUTWYCHE, QLD Valuation date July 2015 Lutwyche City Shopping Centre is a large format four-level Acquisition date October 2015 enclosed neighbourhood shopping centre, 5km north of the Brisbane CBD. The shopping centre is in the heart of Site area 21,946m2 Lutwyche, an established inner city residential suburb. Net lettable area 18,891m2 The centre is the dominant convenience centre servicing Occupancy 81% local residents and is well located with exposure to major transport corridors and the local public transport hub. WALE by income 4.8 years The 18,883m2 centre has 12,103m2 of gross lettable area Rent review CPI and Fixed (GLA) anchored by Coles and ALDI supermarkets, two mini structure majors and approx. 5,659m2 of specialty GLA. Lutwyche Major tenants City also has 6,441m2 of office space and an adjacent Coles and ALDI 2 by income freestanding 384m childcare facility. Parking spaces 823 The centre has strong repositioning opportunities and is Valuation range currently undergoing refurbishment and redevelopment projects in line with strategic plans for dominating its $30-40m $40-50m $50-60m $60-70m $80-90m primary trade area for the convenience shopper. 04 Abacus Property Group 33 queen street brisbane qld Property Book 2016 05 OFFICE PROPERTIES Ownership interest 100% 710 COLLINS STREET, DOCKLANDS, MELBOURNE, VIC The property occupies a rectangular block of c.7,800m2 Cap rate 6.13% spanning between Collins Street and Bourke Street within Valuation date December 2014 the Batman’s Hill precinct in the heart of Melbourne’s Acquisition date December 2014 docklands main commercial office precinct. The property is surrounded by major commercial office towers and has Site area 7,795m2 almost immediate access to southern cross station. Net lettable area 11,236m 2 The property is a historic heritage listed former railway Occupancy 100% warehouse of the late 19th century (known as the Goods WALE by income 7.8 years Shed) which was transformed into a two level commercial Rent review office building over 2008-2010 following a significant CPI and Fixed structure refurbishment and development program. A 4 story retail and commercial building has been added at the Collins Major tenants Places Victoria and Victorian Street end. The property is substantially leased to the by income Building Authority Victorian Government until 2024. Parking spaces – While the property is considered a core asset hold, it has Valuation range strong development opportunities at its Collins Street end for an enhanced office tower development. We are $50-60m $60-70m $70-80m $80-90m $90-100m investigating all development options. Ownership interest 50% WESTPAC HOUSE 91 KING WILLIAM STREET, ADELAIDE, SA Cap rate 7.75% Westpac House at 91 King William Street is a premium Valuation date November 2014 grade office property located in central Adelaide with Acquisition date October 2004 four street frontages. The property comprises a 31 level office tower and two small office buildings. Abacus has Site area 4,287m2 a 50% interest in the property with the remaining 50% 2 Net lettable area 31,773m owned by one of Abacus’ managed funds. This building Occupancy 88% holds a 4.0 star NABERS rating. WALE by income 3.7 years The property continues to shoe promising repositioning Rent review and leasing opportunities to further grow revenue. CPI and Fixed structure Major tenants Westpac and by income SA Government Parking spaces 54 Valuation range $30-40m $40-50m $50-60m $60-70m $70-80m 06 Abacus Property Group Ownership interest 50% 201 PACIFIC HIGHWAY ST LEONARDS, SYDNEY, NSW Cap rate 7.25% The property is part of the Forum complex, a master Valuation date March 2015 planned development completed in the early 2000s. Acquisition date August 2015 Forum is located at the foot of the St Leonards railway station providing excellent amenity and proximity for Site area 4,718m2 tenants.