Mirvac : MGR 1H19 Property Compendium (pdf | 16.8 MB)

INVESTMENT OVERVIEW

SOUTH VILLAGE SHOPPING CENTRE, SYDNEY

Mirvac manages a diverse portfolio of investment assets

across the office, industrial and retail sectors, leased

to quality tenants including leading Australian and

international companies.

Mirvac's integrated business approach includes utilising

the specialised in-house asset management team, that

is responsible for all leasing and property management

across the entire portfolio.

INVESTMENT OVERVIEW

PROPERTY PORTFOLIO

as at 31 December 2018

TYPE OF PROPERTY OFFICE INDUSTRIAL RETAIL SUBTOTAL

NO. OF PROPERTIES1

BOOK VALUE2

GLA/NLA

(sqm)WALE (by income)OCCUPANCY

(by area)CAP RATE

30 18 17 65 n/a 65

$6,370m $868m $3,385m $10,623m $267m $10,890m

658,300 SQM 469,273 SQM 437,911 SQM 1,565,484 SQM n/a 1,565,484 SQM

• 6.6 yrs

  97.2% 5.46%

• 7.6 yrs 4.1 yrs 5.8 yrs n/a 5.8 yrs

100.0% 5.89%

99.3% 5.40%

98.6% 5.48%

OTHER INVESTMENTS TOTAL PORTFOLIO

n/a 98.6%n/a 5.48%

PROPERTY PORTFOLIO DIVERSIFICATION

SECTOR DIVERSIFICATION3

GEOGRAPHIC DIVERSIFICATION3

LEASE EXPIRY PROFILE4

TOTAL PORTFOLIO

OFFICE PORTFOLIO

FY24+

Vacant 2H19

FY20

INDUSTRIAL PORTFOLIO

FY21

FY22

FY23 FY24+

Vacant

RETAIL PORTFOLIO

• 1. Portfolio number includes investment properties under construction (IPUC), but excludes properties being held for development.

• 2. Portfolio value includes investment properties under construction (IPUC), and properties being held for development. Subject to rounding

• 3. By book value, including IPUC and properties being held for development, but excluding other investments.

• 4. By income, excludes other investments. IPUC and properties being held for development.

2H19

FY20

FY21

FY22

FY23

OFFICE

EY CENTRE, 200 GEORGE STREET, SYDNEY

Comprising 60% of Mirvac's property portfolio, the office

portfolio is focused on the core markets of Sydney and

Melbourne and has a weighted average lease expiry

of 6.6 years.

OFFICE

GRADE DIVERSIFICATION1

GEOGRAPIC DIVERSIFICATION2

Premium 35%

• A Grade 60%

• B Grade 2%

• C Grade 3%

Sydney 57%

Melbourne 27%

Canberra 5%

Perth 8%

Brisbane 3%

VALUATION AT
31 DECEMBER	NABERS
PROPERTY	LOCATION	NLA	VALUE3	20184	RATING
1	101-103 MILLER STREET	NORTH SYDNEY, NSW	37,454 SQM	5.0%	$295.0m	4.5 Star
2	40 MILLER STREET	NORTH SYDNEY, NSW	12,615 SQM	2.5%	$145.6m	5.0 Star
3	10-20 BOND STREET	SYDNEY, NSW	38,282 SQM	5.2%	$309.5m	5.5 Star
4	200 GEORGE STREET	SYDNEY, NSW	38,983 SQM	8.4%	$497.5m	5.5 Star
5	275 KENT STREET	SYDNEY, NSW	75,868 SQM	12.5%	$745.6m	5.0 Star
6	60 MARGARET STREET	SYDNEY, NSW	40,945 SQM	5.5%	$325.0m	4.0 Star
7	37 PITT STREET	SYDNEY, NSW	12,138 SQM	1.5%	$87.2m	3.5 Star
8	51 PITT STREET	SYDNEY, NSW	4,986 SQM	0.6%	$35.2m	2.5 Star
9	6-8 UNDERWOOD STREET	SYDNEY, NSW	3,251 SQM	0.3%	$18.1m	3.0 Star
10	QUAY WEST CAR PARK, 109-111 HARRINGTON STREET	SYDNEY, NSW	398 SQM	0.7%	$39.5m
11	75 GEORGE STREET	PARRAMATTA, NSW	9,569 SQM	1.5%	$87.6m	4.0 Star
12	1 DARLING ISLAND	PYRMONT, NSW	22,197 SQM	4.8%	$285.5m	6.0 Star
13	65 PIRRAMA ROAD	PYRMONT, NSW	15,931 SQM	2.7%	$159.6m	6.0 Star
14	699 BOURKE STREET	MELBOURNE, VIC	19,303 SQM	1.7%	$102.8m	5.0 Star
15	90 COLLINS STREET	MELBOURNE, VIC	21,308 SQM	4.3%	$255.8m	4.0 Star
16	367 COLLINS STREET	MELBOURNE, VIC	37,917 SQM	6.4%	$378.0m	4.0 Star
17	664 COLLINS STREET	MELBOURNE, VIC	26,476 SQM	2.3%	$138.6m
18	383 LATROBE STREET	MELBOURNE, VIC	10,211 SQM	2.1%	$122.0m	2.5 Star
19	380 ST KILDA ROAD	MELBOURNE, VIC	24,554 SQM	3.0%	$175.7m	5.0 Star
20	RIVERSIDE QUAY	SOUTHBANK, VIC	32,738 SQM	4.9%	$292.2m	4.5 Star
21	2 RIVERSIDE QUAY	SOUTHBANK, VIC	21,132 SQM	2.2%	$131.1m	5.0 Star
22	23 FURZER STREET	PHILLIP, ACT	46,167 SQM	5.0%	$300.0m	6.0 Star
23	340 ADELAIDE STREET	BRISBANE, QLD	12,876 SQM	1.1%	$67.2m	3.5 Star
24	189 GREY STREET	SOUTHBANK, QLD	12,729 SQM	1.4%	$84.5m	4.0 Star
25	ALLENDALE SQUARE, 77 ST GEORGES TERRACE	PERTH, WA	29,043 SQM	4.1%	$244.4m	4.0 Star
OFFICE INVESTMENT PROPERTIES TOTAL	607,070 SQM	92.1% 5	$5,512.8m 5
26	AUSTRALIAN TECHNOLOGY PARK	SOUTH EVELEIGH, NSW	$196.7m
27	80 ANN STREET	BRISBANE, QLD	$56.5m
28	477 COLLINS STREET	MELBOURNE, VIC	$136.4m
OFFICE INVESTMENT PROPERITIES UNDER CONSTUCTION TOTAL	$389.6m
607,070 SQM	$5,902.4m 5
29	19,349 SQM	4.2%	$247.5m	5.0 Star
30	31,881 SQM	3.7%	$220.0m	5.0 Star
51,230 SQM	7.9%	$467.5m
658,300 SQM	100% 5	$6,369.9m 5
6.6 YEARS
97.2%

% OF OFFICE PORTFOLIO

BOOKGROSS OFFICE RENT

$974/SQM

$880/SQM

$1,055/SQM

$1,316/SQM

$1,153/SQM

$890/SQM

$670/SQM

$729/SQM

$552/SQM

$581/SQM

$802/SQM

$759/SQM

$680/SQM

$714/SQM

$681/SQM

$638/SQM

$631/SQM

$510/SQM

$581/SQM

$649/SQM

$510/SQM

$527/SQM

$555/SQM

$919/SQM

OFFICE INVESTMENT PROPERTIES AND INVESTMENT PROPERTIES UNDER CONSTRUCTION TOTAL

8 CHIFLEY SQUARE

DAVID MALCOLM JUSTICE CENTRE, 28 BARRACK STREET INVESTMENTS IN JOINT VENTURES TOTAL

SYDNEY, NSW PERTH, WA

$1,432/SQM $884/SQM

OFFICE TOTAL

WEIGHTED AVERAGE LEASE EXPIRY (BY INCOME)

OCCUPANCY % (BY AREA)

• 1. By book value, excluding IPUC and properties being held for development.

• 2. By book value, including IPUC and properties being held for development.

• 3. Excludes office properties under development.

• 4. Book values represent Mirvac's ownership.

• 5. This total value includes 55 Coonara Avenue West Pennant Hills, valued at $77.0m, Australian Technology Park Locomotive Workshop, valued at $86.7m, which are being held for development, and various other $25.9m These assets are excluded from all other metrics. Subject to rounding.