31 May 31% Geographic Weighting to Victoria1 Contents
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GPT Melbourne 1 Asset Tour 31 May 31% geographic weighting to Victoria1 Contents Agenda ................................................................................... 2 Highpoint Shopping Centre.................................................... 5 Austrak Business Park ........................................................ 13 Melbourne CBD.................................................................... 17 800 and 808 Bourke Street .............................................21 818 Bourke Street .......................................................... 25 530 Collins Street ........................................................... 29 Melbourne Central ......................................................... 33 150 Collins Street ........................................................... 41 8 Exhibition Street .......................................................... 45 1. As at 31 December 2012 Agenda Transport to Somerton 12.00Noon 9.30am 9.00am Highpoint Asset Tour David Jones Michael Cameron Paul Zahra Welcome CEO and Managing Director CEO, David Jones Anthony McNulty Michael Cameron Topshop, Topman, Head of Development, Retail and Major Projects CEO and Managing Director Glue and Super Glue Brett Williams, Retail Portfolio Manager & Anthony McNulty Hilton Seskin Deputy Head of Investment Management Head of Development, Chairman, Next Athleisure Retail and Major Projects Mark Pheely Carmel Hourigan Development Manager, Retail and Major Projects Head of Investment Management Scott Crellin Bruce Sedgwick General Manager, Highpoint Shopping Centre National Director Leasing, Retail Ken Knox Project Director, Retail and Major Projects Tour Transport to concludes Melbourne CBD 4.00pm 1.00pm 1.45pm 12.30pm 3 Austrak Business Walking tour Mark Fookes Park, Somerton of Melbourne CBD Chief Financial Officer Mark Assetta Docklands - 800/808 and Carmel Hourigan CEO, Austrak Group Head of Investment Management 818 Bourke Street David Burgess 530 Collins Street David Burgess Office & Logistics Portfolio Manager Office & Logistics Portfolio Manager Melbourne Central Tower Luke Briscoe Sam Vincent 150 Collins Street Capital Transactions Manager National Director Leasing, Office, 8 Exhibition Street Logistics and Business Parks Luke Briscoe National Director Leasing, Office, Logistics and Business Parks Highpoint Shopping Centre 5 Highpoint Shopping Centre is located in Only open for two months, the Centre is Maribyrnong, eight kilometres north-west of already trading ahead of expectations and the Melbourne CBD and is one of Australia’s has experienced a substantial increase in foot leading retail destinations. traffic. A $300 million redevelopment of Highpoint The redevelopment project has enhanced commenced in 2011 and was completed on the value of the Centre and created a greatly schedule in March 2013, making it one of the improved retail experience for customers largest shopping centres in Australia. and the western region of Melbourne with an extensively enhanced retail offer, the The expansion added approximately 100 creation of significant job opportunities, specialty stores and western Melbourne’s first improved traffic flow, new public spaces and David Jones, as well as several international sustainability initiatives. retailers including Zara, Topshop, Apple and Samsung. Water Intensity Emissions Intensity Operational Waste 2 2 (litres/m ) (kg CO2 -e/m ) (% reused/recycled) 1,200 150 50% Recycling rate of 1,000 120 40% 800 31% 90 30% 600 36% 60 34% 20% 400 reduction reduction since 2005 since 2005 200 30 10% 0 0 0% 2008 2009 2010 2011 2012 2008 2009 2010 2011 2012 2008 2009 2010 2011 2012 Key Metrics as at 31 December 2012 Ownership Interest 16.67% Asset Type Super Regional Centre GWSCF (50%) Co-Owner Completed 1975 Highpoint Property Group (33.33%) Construction/Refurbishment Refurbished 1989, 1995, 2006, 2012 Acquired (by GPT) August 2009 Property Details¹ Retail 113,900 sqm Other 7,100 sqm Office 1,800 sqm Total 122,800 sqm Current Valuation² Latest External Valuation Fair Value $281.7m Value $255.0m Capitalisation Rate 5.75% Capitalisation Rate 5.75% Terminal Capitalisation Rate 6.00% Terminal Capitalisation Rate 6.00% Discount Rate 8.75% Discount Rate 8.75% Valuation Type Directors Valuer CB Richard Ellis Income (12 months) $14.0m Valuation Date 30 June 2012 Centre Details Number of Tenancies¹ 415 Retail Occupancy¹ N/A Car Parking Spaces¹ 6,200 Specialty Expiry Profile by Base Rent 2013: 24% 2014: 14% 2015: 15% Sales Information³ Total Centre Specialties Notes Sales Turnover per Square Metre $5,781 $9,440 1. Pre-development impact 2. Fair values and income include Occupancy Costs 14.8% 21.0% Homemaker City Maribyrnong Annual Centre Turnover $609.9m 3. Development impacted Key Tenants Area (sqm) Expiry Date Myer 19,120 June 2021 Target 9,920 July 2015 Hoyts 9,030 April 2014 Big W 8,160 June 2025 Woolworths¹ 3,410 N/A 4th largest retail 7 centre in Australia by size Highpoint Store Directory 2083 BLACK 2079 CARPARK 2082 2081 ENTRY 2084 2085 0008 2080 2078 2077 2501 2502 2503 2504 2505 2506 2507 2508 2509 2087 2091 2090 2086 DAVID JONES 2510A ATRIUM 2510 ENTRY 7217 7210 FOODCOURT 7219 7202 2521 2521A 2108 2511 PINK 2525 2526 2107 2073 2109 2708 2105 2092 2095 2096 2097 CARPARK 2098 2099 2100 2103 2101 2102 2527 2512 2110 2072 2522 2529 2524 2513 6013 2111 2071 7208 WASH ‘N’ SHOP 2514 2112 2070 2531 CAR WASH 2515 2115 2068 2707 7211 2516 2542 2116 2067 2533 2517 2520 2539 2120 2117 2065 7213 2518 2118 2535 2536 2540 2538 2537 2542A PINK 0001 2064 2541 2714 ENTRY 2715 CARPARK MYER 7212 2712 2713 2706 2716 2562 7215 2055 2552 2058 2056 1123 2054 2704 2547 2548 2549 2550 2551 2546 PINK 2545 2123 2056 2553 2561A CARPARK 1122 2053 1124 2121 2122 2124 2052 2554 2561 1121 2543A 2703 2125 2051 2555 2559 GREEN 2558A 1120 2126 2543 2702 CARPARK 2701 1125 7104 2127 2558 1119 2128 2600 1118 2129 WOOLWORTHS 2557 2556 2130 1126/1128 1117 2034 2544 2131 2035 2133 1116 2031/33 7105 2132 7220 ROSAMOND ROAD 7109 2134 1129 STAGE 2135 7204 2030 1130 2136 2027 7205 1131 2138 2026 1114 11111155 7100 JJBB HI-FHI-FII 2139 2025 1132 1113 0010 GREEN 2140 2024 1111c HIGHPOINT CARPARK 2141 2023 7103 1112 TAVERNER 2022 1111b 2142 1110 2020 HARRIS SCARFE 1111a 2143 0006 ROSAMOND ROAD 7101 2013 1109 2144 11111111 2012 PPLAYTIMELAYTIME 7107 1108 7203 2011 1149 BEST & LESS 1106 1105 0007 2010 BLUE 1133 1107 ENTRY 2149 2009 CARPARK 2150 2008 1104 2151 2007 1103 1102 1101 1140 2152 2006 2153 2005 6206 6204 6203 6202 6201 6205 6215 6214 2154 2004 2155 2001A REBEL SPORT GREEN 2156 2003 0009 CARPARK 2157 2002 2001 L2 LIVING HOYTS 7222 7223 7224 ENTRY 2159 2158 2160 2161 BLUE CARPARK 6014 MAGIC HAND CAR WASH AQUATIC DRIVE AQUATIC DRIVE BLACK CARPARK 3080 3079 3082 0008 3086 3083 3081/ 3084 3085 3075 3501 3502 3503 3504 3505 3506 3507 3508 3078 3077 3076 3509A 3509 DAVID JONES ENTRY 7312 7313 7311 3510 3087 3092 3516 3517 3518 3519 3520 3521 3522 3523 3096 3093 3094 3097 3095 3100 YELLOW PINK 3069 3524 3511 3525 CARPARK CARPARK 3068 3512 3101 3067 3526 3066 3513 3104 3549 3526A 3105 3527 3106 3514 3539 3535 3528 3537 3108 3107 3539 0001 MYER 7318 3544 3543 3540 3545 3550 7039 3110 3111 3109 3547A 9 3113 3054 3053 3545 3548 3117 3116 3115 3114 3052 3050 3119 3118 7301 490+ ENTRY ENTRY 3125 3049 3121 3124 specialty 3126 3136 3127 GREEN 3045 3047 0004 3046 CARPARK TAXIS & BUSES 3135 3128 TOYS R US retailers 3137 3129 3042 3134 3130 3040 3133 3132 3131 7306 3039 7315 7308 7324 3038 6001 ENTRY PLATINUM 3036 CAR WASH 3142 3037 3138 3139 3141 3035 3034 3143 3033 3144 3032 3044 3031 HOYTS & LEVEL 1 3145 3030 EXPRESS LIFT 3146 6004 3029 3147 ROAD WARRS LIBRARY ORANGE 3148 3028 ENTRY CARPARK 3149 0003 MALE RESTROOMS STAIRCASE LIFT 6003 3151 PLUME 7303A BIG W RESTAURANT 3152 7303B 3027 3153 6005 3026 FEMALE RESTROOMS ESCALATORS ATM 3154 MEDICAL 3025 CENTRE 3155 3024 3156 3023/ 6002 ENTRY 3157 3022 DISABLED RESTROOMS CUSTOMER SERVICE RIVERBANK FOODCOURT RED ROOSTER 3158 3021 REBEL 3166 3159 3020 ENTRY 3160 SPORT 3019 PARENT’S ROOM TELEPHONE ATRIUM FOODCOURT 3162 3170 3171 3172 3169 3168 3165 3161 7327 7316 ENTRY 3001/ 3179 3180 7326 3173 3002 3174 3175 3003 3018 3181 3017 3016 3015 3014 0020 3201 3182 3202 3200 TARGET HOME 3199 0002 3183 7323 3198 TARGET HOME BLUE 3184 3197 CARPARK 3185 7322 RIVERBANK 3196 3186 3195 7321 FOODCOURT 3187 3194 6300 3191 3188 3192 3193 FITNESS FIRST 3190 6306 6309 6307 6311 6310 6312 6302 6301 ENTRY ENTRY AQUATIC DRIVE Highpoint Store Directory MAJORS LEVEL SHOP PHONE Rhubarb 2 2117 9318 1699 Ally Fashion 2 2527 9318 1699 Vodafone 3 2 2052 9318 8855 Guzman Y Gomez 1 1105 9317 0053 Apple 3 3513 9318 1699 Seed 3 3535 9318 1699 Bardot 3 3540 9318 7300 Happy Days Diner 1 1103 9317 3990 Best & Less 2 0007 9317 5299 Shoes n Socks 2 2548 9317 0781 Bariano COMING SOON 3 3067 9318 1699 DISCOUNT STORES LEVEL SHOP PHONE Happy Lab 2 2107 9318 1699 Big W 3 0003 9223 5808 The Kidstore 2 2546 9317 7350 Blue Illusion 3 3054 9317 0076 $2 Paradise 2 2097 9317 9890 Healthy Habits 3 3199 9317 8555 David Jones 2/3 0008 9318 1699 Urban Angel 2 2120 9317 0545 BNT (Bras N Things) 2 2034 9317 9221 Best & Less 2 0007 9317 5299 Highpoint Kebabs OPEN 14/2/13 2 2103 9318 1699 Fitness First 3 6300 9038 9500 Witchery Kids 2 2150 9318 1699 Chicabootie 2 2503 9318 1699 Priceline 2 2126 9318 6708 Highpoint Taverner 1 0010 9317 9466 GAP 3 3514 9318 1699 City Chic 3 3128 9317 4825 The Reject Shop 2 2544 9317 8701 Junbo Chinese 3 3193 9317 9290 Harris Scarfe 2 0006 9317 9099 CASUAL CLOTHING LEVEL SHOP PHONE Coco Blue 1 1129 9318 3032 KFC 2 2099 9318 8576 ELECTRICAL