Fund Management

Internalisation Proposal

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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, the ASX Listing Rules and the ASX Corporate Governance Council's Corporate Governance Principles and Recommendations. The Fund is also committed to sustainability, diversity and minimising its environmental impact.

For more information on corporate governance see the 2020 Annual Report.

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2020 Annual Report

As at 6 May 2020

Properties30

Portfolio value AUD 1 085mn

Occupancy99.0%

GLA333 889m²

WALE4.5 years

Key Metrics

Office

449 Punt Road

Cremorne, VIC

Building type: Office
Address: 449 Punt Road, Cremome VIC
Year built: 2009
Grade: A
Site area / NLA: 2,170m² / 6,719m²
Valuation: AUD58,800,000
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 / NLA: 3,617m²/ 24,810m²
Valuation: NZD138,500,000
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 / NLA: 14,645m² / 12,906m²
Valuation: AUD62,500,000
Occupancy: 90%
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 / NLA: 14,320m² / 15,205m²
Valuation: AUD97,150,000
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 / NLA: 1,821m² / 19,364m²
Valuation: AUD153,500,000 (50% share)
Occupancy: 96%
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 / NLA: 6,812m² / 6,199m²
Valuation: AUD29,000,000
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 / NLA: 11,610m² / 10,820m²
Valuation: AUD61,500,000
Occupancy: 98%
No. of tenants: 10
Major tenants: Clarendon Homes, Novo Nordisk, HWL Ebsworth

2404 Logan Road

Eight Mile Plains, QLD

Building type: Office
Address: 2404 Logan Road, Eight Mile Plains QLD
Year built: 2010
Grade: A
Site area / NLA: 4,691m² / 3,637m²
Valuation: AUD18,150,000
Occupancy: 100%
No. of tenants: 5
Major tenants: Healthscope, Medicare Local

35-49 Elizabeth Street

Richmond, VIC

Building type: Office
Address: 35-49 Elizabeth Street, Richmond VIC
Year built: 2008
Grade: A
Site area / NLA: 4,045m² / 11,917m²
Valuation: AUD93,000,000
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 / NLA: 2,703m² / 13,870m²
Valuation: AUD77,000,000
Occupancy: 100%
No. of tenants: 6
Major tenant: The Commonwealth of Australia, Commonwealth Bank of Australia, Employers Mutual

186 Reed Street

Tuggeranong, ACT

Building type: Office
Address: 186 Reed Street, Tuggeranong ACT
Year built: 1991 (refurbished in 2013)
Grade: A
Site area / NLA: 9,457m² / 5,407m²
Valuation: AUD 25,650,000
Occupancy: 100%
No. of tenants: 1
Major tenant: The Commonwealth of Australia

24 Wormald Street

Symonston, ACT

Building type: Office
Address: 24 Wormald Street, Symonston ACT
Year built: 2007
Grade: A
Site area / NLA: 5,185m² / 4,720m²
Valuation: AUD 29,150,000
Occupancy: 100%
No. of tenants: 1
Major tenants: The Commonwealth of Australia

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: AUD10,400,000
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: AUD20,150,000
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: AUD20,000,000
Occupancy: 100%
No. of tenants: 1
Major tenant: Focus on Furniture

24 Rodborough Road