Investec Property
About Fund Management
Investec Australia Property Fund is an Australian domiciled real estate investment trust that is registered in Australia under the Corporations Act 2001 as a managed investment scheme and regulated by the Australia Securities and Investments Commission. As the responsible entity of the Fund, Investec Property Limited has the primary responsibility for the governance and operation of the Fund.
The Fund has been established to invest in quality commercial real estate (office, industrial and retail) that is well located in major metropolitan cities or established commercial precincts in Australia and New Zealand.
Fund objectives
Whilst the Fund is an independently listed entity, it shares a common ethos and ethical foundation with the Investec Group. A common brand and culture provide the foundation for the ethics and governance principles adopted by the Fund.
Growth
Grow and diversify the Fund’s asset base with further investments that offer attractive income and capital growth profiles, and which spread investment risk.
Sustainability
Offer unitholders sustainable growth in income and capital appreciation across a diversified sectoral portfolio.
Corporate Governance
Maintain a strong corporate governance framework to ensure that the interests of unitholders are protected.
Strategy
- To achieve these objectives, Investec Property Limited as the responsible entity intends to pursue the following strategies:
- Focus on property fundamentals
- Acquire quality commercial real estate with the following characteristics:
- Medium to long-term lease profiles
- Situated in well-located commercial precincts
- Limited or no short-term capex requirements
- Contracted rental growth
- Sustainable income supported by strong tenant covenants
- Leverage off the management team’s on-the-ground presence in Australia and existing relationships with key industry players to source growth opportunities
- Maximise property performance through proactive asset management, property management and leasing
Corporate Governance
Investec Property Limited, as responsible entity of the Fund, is committed to upholding the highest standards of disclosure, transparency and adherence to the JSE Listings Requirements and the King Code of Corporate Governance Principles for South Africa, and by this means ensuring that the Fund is managed ethically and in compliance with the highest standards. We are also committed to sustainability, diversity and environmental preservation – limiting the Fund’s environmental impact.
For more information on corporate governance see the 2018 Annual Report.
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2018 Annual Report
Investec Australia Property Fund Portfolio
Office
449 Punt Road
Cremorne, VIC
Building type:
Office
Address:
449 Punt Road, Cremome VIC
Year built:
2009
Grade:
A
Site area / GLA:
2,170m2 / 6,384m2
Valuation:
AUD53,000,000
Weighted average rental escalation:
3.8%
Occupancy:
100%
No. of tenants:
1
Major tenant:
Carsales.com
100 Willis Street
Wellington, NZ
Building type:
Office
Address:
100 Willis Street, Wellington NZ
Year built:
1991
Grade:
A
Site area / GLA:
3,617m2 / 24,664m2
Valuation:
NZD128,500,000
Weighted average rental escalation:
2.8%
Occupancy:
100%
No. of tenants:
27
Major tenant:
New Zealand Government, Ernst & Young, Cigna Insurance
20 Rodborough Road
Frenchs Forest, NSW
Building type:
Office
Address:
20 Rodborough Road, Frenchs Forest NSW
Year built:
1991 (major refurbishment in 2015)
Grade:
A
Site area / GLA:
14,645m² / 13,023m²
Valuation:
AUD61,000,000
Weighted average rental escalation:
3.2%
Occupancy:
94%
No. of tenants:
12
Major tenants:
KFC, Henkel, Alexion Pharmaceuticals
2 Richardson Place
North Ryde, NSW
Building type:
Office
Address:
2 Richardson Place, North Ryde NSW
Year built:
2004
Grade:
A
Site area / GLA:
14,320m² / 15,205m²
Valuation:
AUD90,000,000
Weighted average rental escalation:
3.3%
Occupancy:
100%
No. of tenants:
5
Major tenants:
Ricoh, Honeywell
324 Queen Street
Brisbane, QLD
Building type:
Office
Address:
324 Queen Street, Brisebane QLD
Year built:
1975 (major refurbishment in 2001)
Grade:
A
Site area / GLA:
1,821m² / 19,386m²
Valuation:
AUD151,000,000 (50% share)
Weighted average rental escalation:
3.8%
Occupancy:
99%
No. of tenants:
27
Major tenants:
Allianz, ANZ
113 Wicks Road
Macquarie Park, NSW
Building type:
Office
Address:
113 Wicks Road, Macquarie Park NSW
Year built:
1989 (major refurbishment in 2014)
Grade:
A
Site area / GLA:
6,812m² / 6,253m²
Valuation:
AUD26,500,000
Weighted average rental escalation:
3.5%
Occupancy:
100%
No. of tenants:
6
Major tenants:
Telstra, NSW Health, Mine Site Technologies, Kings Transport
21-23 Solent Circuit
Baulkham Hills, NSW
Building type:
Office
Address:
21-23 Solent Circuit, Baulkham Hills NSW
Year built:
2002
Grade:
A
Site area / GLA:
11,610m2 / 10,822m2
Valuation:
AUD59,000,000
Weighted average rental escalation:
3.6%
Occupancy:
96%
No. of tenants:
10
Major tenants:
Clarendon Homes, Novo Nordisk, HWL Ebsworth
Garden City Office Park
Eight Mile Plains, QLD
Building type:
Office
Address:
2404 Logan Road, Eight Mile Plains QLD
Year built:
2010
Grade:
A
Site area / GLA:
4,691m2 / 3,637m2
Valuation:
AUD20,000,000
Weighted average rental escalation:
3.1%
Occupancy:
100%
No. of tenants:
5
Major tenants:
Healthscope, Medicare Local
757 Ann Street
Fortitude Valley, QLD
Building type:
Office
Address:
757 Ann Street, Fortitude Valley QLD
Year built:
2014
Grade:
A
Site area / GLA:
1,219m2 / 9,422m2
Valuation:
AUD85,000,000
Weighted average rental escalation:
3.0%
Occupancy:
100%
No. of tenants:
6
Major tenant:
ABB Enterprise Software
35-49 Elizabeth Street
Richmond, VIC
Building type:
Office
Address:
35-49 Elizabeth Street, Richmond VIC
Year built:
2008
Grade:
A
Site area / GLA:
4,045m2 / 11,917m2
Valuation:
AUD82,750,000
Weighted average rental escalation:
3.6%
Occupancy:
100%
No. of tenants:
6
Major tenant:
Department of Justice, Mercy Health, Probe
266 King Street
Newcastle, NSW
Building type:
Office
Address:
266 King Street, Newcastle NSW
Year built:
1998 (Major refurbishment in 2016)
Grade:
A
Site area / GLA:
2,703m2 / 13,870m2
Valuation:
AUD75,000,000
Weighted average rental escalation:
3.5%
Occupancy:
100%
No. of tenants:
6
Major tenant:
The Commonwealth of Australia, Commonwealth Bank of Australia, Employers Mutual
Investec Australia Property Fund Portfolio
Industrial
44 Sawmill Circuit
Hume, ACT
Building type:
Logistics
Address:
44 Sawmill Circuit, Hume ACT
Year built:
2012
Grade:
A
Site area / GLA:
16,948m2 / 4,639m2
Valuation:
AUD11,300,000
Weighted average rental escalation:
3.8%
Occupancy:
100%
No. of tenants:
1
Major tenants:
Toll Transport
36-42 Hydrive Close
Dandenong South, VIC
Building type:
Industrial
Address:
36-42 Hydrive Close, Dandenong South VIC
Year built:
1997 (extension in 2001)
Grade: A
Site area / GLA:
32,780m² / 14,635m²
Valuation:
AUD19,450,000
Weighted average rental escalation:
Greater of CPI and 3.5%
Occupancy:
100%
No. of tenants:
1
Major tenant:
Pact Group
6-8 & 11 Siddons Way
Hallam, VIC
Building type
: Industrial
Address
: 6-8 and 11 Siddons Way, Hallam VIC
Year built:
1994 - 1997
Grade:
A
Site area / GLA:
32,701m² / 15,504 m²
Valuation:
AUD22,350,000
Weighted average rental escalation:
3.0%
Occupancy:
100%
No. of tenants:
1
Major tenant:
Focus on Furniture
24 Rodborough Road
Frenchs Forest, NSW
Building type:
Industrial
Address:
24 Rodborough Road, Frenchs Forest NSW
Year built:
2009
Grade:
A
Site area / GLA:
8,315m2 / 7,198m2
Valuation:
AUD21,000,000
Weighted average rental escalation:
3.3%
Occupancy:
100%
No. of tenants:
1
Major tenant:
Pharmaxis
54 Miguel Road
Bibra Lake, WA
Building type:
Industrial
Address:
54 Miguel Road, Bibra Lake WA
Year built:
1992-2008
Grade:
A
Site area / GLA:
40,824m2 / 22,358m2
Valuation:
AUD29,500,000
Weighted average rental escalation:
3.0%
Occupancy:
100%
No. of tenants:
1
Major tenant:
CTI Freight Systems
85 Radius Drive
Larapinta, QLD
Building type:
Industrial
Address:
85 Radius Drive, Larapinta QLD
Year built:
2009
Grade:
A
Site area / GLA:
21,930m2 / 10,088m2
Valuation:
AUD18,000,000
Weighted average rental escalation:
CPI
Occupancy:
100%
No. of tenants:
1
Major tenant:
Coil Steels
66 Glendenning Road
Glendenning, NSW
Building type:
Industrial
Address:
66 Glendenning Road, Glendenning NSW
Year built:
1988
Grade:
B
Site area / GLA:
29,310m2 / 16,461m2
Valuation:
AUD25,600,000
Weighted average rental escalation:
3.0%
Occupancy:
100%
No. of tenants:
1
Major tenant:
Hussmann
2-8 Mirage Road
Direk, SA
Building type:
Logistics
Address:
2-8 Mirage Road, Direk SA
Year built:
2010
Grade:
A
Site area / GLA:
19,930m2 / 6,783m2
Valuation:
AUD9,250,000
Weighted average rental escalation:
3.5%
Occupancy:
100%
No. of tenants:
1
Major tenants:
Toll Transport
24 Sawmill Circuit
Hume, ACT
Building type:
Logistics
Address:
24 Sawmill Circuit, Hume ACT
Year built:
2012
Grade:
A
Site area / GLA:
10,940m2 / 6,300m2
Valuation:
AUD9,900,000
Weighted average rental escalation:
3.8%
Tenancy:
100%
No. of tenants:
1
Major tenants:
Toll Transport
24 Split Island Close
Newcastle, NSW
Building type:
Industrial
Address:
24 Split Island Close, Newcastle NSW
Year built:
2006
Grade:
A
Site area / GLA:
8,871m2 / 5,257m2
Valuation:
AUD10,000,000
Weighted average rental escalation:
3.8%
Occupancy:
100%
No. of tenants:
1
Major tenants:
Horan Steel
30-48 Kellar Street
Berrinba, QLD
Building type:
Industrial
Address:
30-48 Kellar Street, Berrinba QLD
Year built:
2012
Grade:
A
Site area / GLA:
8,544m2 / 4,102m2
Purchase price:
AUD8,350,000
Weighted average rental escalation:
3.2%
Occupancy:
100%
No. of tenants:
1
Major tenants:
HJ Longdon & Co
47 Sawmill Circuit
Hume, ACT
Building type:
Logistics
Address:
47 Sawmill Circuit, Hume ACT
Year built:
2011
Grade:
A
Site area / GLA:
13,550m2 / 5,535m2
Valuation:
AUD11,400,000
Weighted average rental escalation:
4.0%
Occupancy:
100%
No. of tenants:
1
Major tenants:
Allied Pickfords
57 Sawmill Circuit
Hume, ACT
Building type:
Logistics
Address:
57 Sawmill Circuit, Hume ACT
Year built:
2011
Grade:
A
Site area / GLA:
11,610m2 / 7,079m2
Valuation:
AUD10,350,000
Weighted average rental escalation:
4.0%
Occupancy:
100%
No. of tenants:
1
Major tenants:
Allied Pickfords
67 Calarco Drive
Derrimut, VIC
Building type:
Industrial
Address:
67 Calarco Drive, Derrimut VIC
Year built:
2008
Grade:
A
Site area / GLA:
17,880m² / 7,150m²
Valuation:
AUD9,700,000
Weighted average rental escalation:
3.4%
Occupancy:
100%
No. of tenants:
2
Major tenant:
Groundmaster Engineering
165 Newton Road
Wetherill Park, NSW
Building type:
Industrial
Address:
165 Newton Road, Wetherill Park NSW
Year built:
1995
Grade:
A
Site area / GLA:
20,230m2 / 12,529m2
Valuation:
AUD23,450,000
Weighted average rental escalation:
3.0%
Occupancy:
100%
No. of tenants:
1
Major tenant:
Horan Steel
As at 30 September 2018
Properties27
Portfolio value AUD 1 013mn
Occupancy99%
GLA285 146m²
WALE5.1 years
Performance
