Fund Management

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

As at 30 September 2018

Properties27

Portfolio value AUD 1 013mn

Occupancy99%

GLA285 146m²

WALE5.1 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 / 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

186 Reed Street

Tuggeranong, ACT

Building type: Office
Address: 186 Reed Street, Tuggeranong ACT
Year built: 1991 (refurbished in 2013)
Grade: A
Site area / GLA: 9,457m² / 5,407m²
Valuation: AUD 28,200,000
Weighted average rental escalation: 3.5%
Occupancy: 100%
No. of tenants: 1
Major tenants: 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 / GLA: 5,185m² / 4,720m²
Valuation: AUD29,750,000
Weighted average rental escalation: 3.5%
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: 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