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.
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Mirvac Group published this content on 07 February 2019 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 06 February 2019 22:14:08 UTC