• Centuria signs up to parking technology, further enhancing the service quality for its tenants.
  • The app-based system will increase value and client satisfaction through ease-of-use parking provisions.
  • Centuria, an earlier adopter of BaseUp, will be the first property group to roll this out nationally, across the largest portfolio of assets.
  • Centuria will provide 280 tenants across 32 buildings access to 300 bays for short term use for the staff. Centuria estimate this will benefit approximately 2,800 people that occupy their buildings.

Centuria Property Services, the asset management arm of Centuria Capital Group (ASX:CNI), has signed a new and innovative parking app contract with provider BaseUp. Vacant parking bays in and around commercial properties owned by Centuria’s listed and unlisted property funds will be made available via the BaseUp app, where tenants can participate and register for short-term parking solutions.

BaseUp, a provider of smart parking technology to large tenants and landlords in the commercial property market, has changed the way that employees interact with their office parking. BaseUp provides a suite of solutions that solve one of commercial real estate’s biggest problems – underutilised parking and a lack of flexibility.

Centuria, an earlier adopter of BaseUp, will be the first property group to roll this out nationally, across the largest portfolio of assets.

Matthew McQueen, Portfolio Manager at Centuria, commented: “We are excited to roll out BaseUp to our multiple tenants across our commercial real estate portfolio. After a highly successful pilot period at two of our assets, we have now signed up for all our property residents.

“Those at the forefront of the commercial property market – office properties in particular – are increasingly focusing on the well-being of a building’s users, a significant aspect of which is convenience of commuting and end-of-trip. This is one of many ways in which Centuria is consistently seeking to upgrade tenant amenity and satisfaction, as we pioneer ways to improve our assets and create benefits for their occupiers.

“Ongoing advancements in technology today are rapid and continuous, and with Centuria’s full property service team in-house, it means we are always monitoring the market for solutions that set higher standards of services to our tenants as well as maintaining and growing value for our investors.”

BaseUp’s platform comprises three pieces of technology together, custom-configured to meet the requirements of tenant and landlord. Its cloud-based management dashboard allows administrators to configure how they want their car park to be managed; the staff app allows employees to self-manage the parking spaces available to them; and BaseUp’s access hardware enables drivers to come and go using Bluetooth.

BaseUp’s Co-Founders, Jack Perkins, Alex Peck, and Peter Carey identified a gap in the market beyond traditional parking models and saw an opportunity to transform the commercial parking sector.

Jack Perkins said: “The three of us knew we could make an impact by introducing technology to the way in which office parking was used, to adapt to new working trends such as flexible working, interstate travel, childcare pickups and working from home. We are delighted to have Centuria onboard and providing this innovative and pioneering solution as part of its business servicing model.”

Centuria Capital Group (ASX:CNI) today announced FY19 results to 30 June 2019 with platform growth of 27% to $6.2bn during the financial year.

For the tenth quarter in a row, Centuria’s Unlisted Property team has achieved six funds in the top 10 in Australia’s unlisted retail property fundsector’s leading index.

Centuria has again taken the top honours in the recently released June 2019 quarter, with Centuria funds taking the top six places based on total return performance for the 12 months to 30 June 20191:

  • 1st: Centuria ATP Fund
  • 2nd: Centuria 2 Wentworth St Fund
  • 3rd: Centuria Zenith Fund
  • 4th: Centuria 8 Central Avenue Fund 2
  • 5th: Centuria 203 Pacific Highway Fund
  • 6th: Centuria 8 Central Avenue Fund

The Property Council of Australia/MSCI Australia Unlisted Retail Quarterly Property Fund Index (Unfrozen) measures net asset value2 total returns for core unlisted retail property funds within the index in the Australian market. Participants currently include Centuria Property Funds, Charter Hall Group, Australian Unity and Cromwell Property Group3.

The index takes account of the performance of the properties held within the unlisted fund structure, together with the impacts of non-property assets, cash holdings, debt, and fees, to produce an overall investment return. They are produced to help the real estate investment sector raise its information, reporting and transparency standards to the level of the mainstream exchange traded asset classes.

For the June 2019 quarter, the index included 28 funds totalling $7.3 billion in gross asset value.

Unlisted property funds provide investors the opportunity to pool their capital to invest in commercial, retail or industrial properties, which may otherwise require too much capital to invest in directly. They generally provide monthly or quarterly income with the potential for capital upside and may be suit as a mid-term investment, with funds locked up for between five to seven years.

The PCA/MSCI Australia Unlisted Retail Quarterly Property Fund Index (Unfrozen) is the only index in Australia that measures performance of unlisted retail property funds. They are produced by MSCI, a world leader in index measures with one of the most extensive private real estate databases in the world.

Download the Quarterly Property Fund Indexes :

Annualised total return for Centuria’s funds are calculated by Centuria Property Funds Ltd (ABN 11 086 553 639, AFSL 231149) as responsible entity/trustee since 1998 and includes net asset value as well as distributions.

1 Past performance is not indicative of future performance. Each fund managed by Centuria Property Funds will have different characteristics, properties and risk and should be assessed by an investor independently. None of the Centuria funds listed in this media release are open to investment and should not be relied on by investors when making a decision to invest in any of Centuria’s open funds. Investors should rely on information in a product disclosure statement of any fund open for investment. 
2 Net of fees.
3 Previous participants also include Folkestone Funds Management (until December 2018), CorVal Partners (until December 2018), Investec (until September 2017), MAB Funds Management (until June 2017) and Mair Property Funds (until June 2017).

46 Gosport St Hemmant QLD

46 Gosport Street, Hemmant is in an established industrial precinct and is located approximately 10 km east of the Brisbane CBD. The property comprises a office, warehouse storage and a vast hardstand.

Current leasing opportunities:

Suite/LevelArea
(sqm)
Rent (per sqm)TimingCommentFloor plan
Office1,184.00$100NowLarge office space featuring great natural light.Floorplan
Warehouse11,447.00$100NowWarehouse storage facility with private roller door access and crane access.Floorplan
Hardstand~23,000.00$100NowLarge hardstand catering to container users.Floorplan

Car parking: There are a total of 30 car spaces.

Figures exclude GST.

Contact

Centuria
Level 41, Chifley Tower
2 Chifley Square
SYDNEY NSW 2000
Stephen Dale
T:
+61 2 8923 8956
M: 0420 881 935
E: stephen.dale@centuria.com.au
Blue Commercial
26 Commercial Rd
NEWSTEAD QLD 4006
Gary O’Shea
T:
+61 7 3353 3999
M: 0413 154 884
E: Gary@bluecommercial.com.au

 

Centuria Capital Group (Centuria) is pleased to announce:

  • Unconditional exchange to acquire 100% interest in 80 Flinders Street, Adelaide,
    launch of new unlisted fund
  • Strong commencement to FY20 with $127 million acquisition – expands upon more
    than $0.9 billion of Group transactions in FY19
  • Attractive commencing fund FY20 distribution yield of 6.50% p.a.1,2
  • Fully leased prime building, 95% of gross income underpinned by multinational and ASX listed companies
  • Adelaide is well positioned to benefit from approximately $130 billion of infrastructure and defence projects.

Centuria subsidiary, Centuria Property Funds Limited, has exchanged unconditional contracts to acquire Adelaide’s 80 Flinders Street office building for $127 million, generating a new fund for Centuria’s unlisted division. The fund is expected to launch in August 2019, delivering FY20 and FY21 distribution yields of 6.50% p.a1,2 and 6.60% p.a.2.

Constructed in 2006 and refurbished in 2019, 80 Flinders Street is an A-Grade building located in Adelaide’s core CBD precinct. The asset has a WALE3 of over 4.0 years and is 100% occupied3 with 95% of gross income underpinned by multinational and ASX listed companies.

Jason Huljich, Joint CEO, said “The group’s latest acquisition represents another example of our team’s ability to selectively identify quality real estate opportunities in a highly competitive environment. As a market, Adelaide is continuing to transform, offering attractive fundamentals relative to other core CBD markets. The tenants within 80 Flinders Street are also well positioned for growth, with South Australia’s strong commitment to a pipeline of approximately $130 billion of infrastructure and defence projects.

“We are excited to be launching a new unlisted fund in Adelaide, a market that we have strong operational expertise within. Across the Group we are managing over $200 million of A-grade assets from both our listed and unlisted divisions located in this region and we continue to identify quality opportunities within this market to provide to our broad investor base.

“Quality real estate opportunities continue to provide attractive alternatives to other asset classes in the current environment. We continue to see examples of attractive spreads between real estate returns being generated and other investment options such as cash rates, term deposits and government bonds.4

“Centuria’s property team expects to build on FY19 momentum with a greater range of attractive real estate acquisitions in FY20 across its stable of listed, unlisted and healthcare funds.”

The sale was managed by Guy Bennett of Knight Frank and Ian Thomas of CBRE.


1. Annualised forecast yield for the period 1 October 2019 to 30 June 2020.
2. Forecast returns are predictive in nature and are calculated in accordance with a number of underlying assumptions set out in the Product Disclosure Statement. As such, returns may be affected by incorrect assumptions or by known or unknown risks and uncertainties and may differ materially from results ultimately achieved. Returns are not guaranteed.
3. Weighted average lease expiry (by income) as at 1 October 2019. The WALE excluding the 694 bay car park leased to Wilson Parking is 4.57 years. Occupancy by income.
4. Each asset class will have different characteristics and risks. As a geared investment, the Fund also carries associated financial and leverage risks.
5. As at 31 December 2018 with pro forma adjustments to reflect Centuria Heathley transaction.

10 Moore St Canberra

10 Moore St Canberra is a six level commercial office building fronting Moore and Rudd Streets in Canberra’s Civic precinct. The building has recently been refurbished and is one of the few Civic buildings with a 5.0-star NABERS energy rating. The property provides modern end-of-trip facilities (including showers, lockers and bike storage) and upgraded lobbies, lifts, bathrooms, and exterior.

10 Moore Street is a centrally-located property in Civic, which is in the heart of Canberra’s CBD precinct. There is excellent public transport to the area, and stage 1 of the light rail, which is currently under construction, will improve transport links further.

Current leasing opportunities

Suite/LevelArea
(sqm)
Rent (per sqm p.a. + GST)TimingCommentFloor Plan
Suite 402123$420 GrossImmediateSuite with brand new fitout featuring unmanned reception, boardroom, 12 workstations, breakout / collaboration area and a balcony.UNDER OFFER

Outgoings: Tenant to pay increase in outgoings over the base year.
Figures exclude GST or government levies. Areas are indicative only.

Contact

Colliers
Ground Floor
23 Marcus Clarke Street
CANBERRA ACT  2600
Aaron Bruce
T: (02) 6225 7333
M: 0477 600 989
E: Aaron.Bruce@Colliers.com
Grace Wang
T:
(02) 6257 3242
M: 0431 635 177
E: Grace.Wang@colliers.com
Centuria
Level 41, Chifley Tower
2 Chifley Square
SYDNEY NSW 2000
David Schmidt-Lindner
T:
(02) 8923 8954
M: 0415 447 653
E:David.Schmidt-Lindner@centuria.com.au

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