Centuria Property Funds Limited (CPFL) is pleased to announce the appointment of Mr Grant Nichols as Fund Manager of Centuria Metropolitan REIT (CMA).

Mr Nichols brings over 16 years of experience across real estate and funds management with a deep track record particularly focused on commercial real estate. Most recently, Mr Nichols was Fund Manager of the ASX listed Australian Unity Office Fund. Mr Nichols has held roles across property management at AMP Capital Investors and asset management at Investa Property Group before holding senior roles as Fund Manager of Investa Diversified Fund and Investa Second Industrial Trust.

Jason Huljich, Head of Real Estate and Funds Management, said: “Following an extensive search, we are delighted that Grant Nichols has agreed to join us as Fund Manager of CMA. Grant’s experience is highly aligned with the operating and strategic initiatives being executed to create value for CMA unitholders and we look forward to welcoming him on-board in January 2019.”

“We would also like to extend sincere thanks to Doug Hoskins, Acting Fund Manager of CMA, for his strong contribution during this time, which has seen the significant evolution of the portfolio’s size, scale and quality as CMA continues to transition towards a pure play metropolitan office REIT. Doug will resume a full time focus as Fund Manager in our unlisted real estate division following Grant’s commencement with CMA.”

Centuria Capital Group has grown from $4.6 billion AUM to $5.5 billion1 since 31 December 2017

Centuria Capital Group (Centuria) today announced that Centuria Industrial REIT (CIP) has added two industrial properties to its portfolio. The properties were purchased for a combined total of $54.4 million (excluding costs), with $51 million of the purchase price raised via an underwritten entitlement offer.

Details of the properties are as follows:

  • 149 Kerry Road, Archerfield in Queensland, acquired for $30.6 million; and
  • 155 Lakes Road and 103 Stirling Crescent, Hazelmere in Western Australia, acquired for $23.8 million.

The two acquisitions will add to the recent acquisition of Cargo Park in Tullamarine, VIC combining to grow CIP’s portfolio by around $100 million since September 2018.

These acquisitions round out another active year for Centuria, where the company was able to successfully grow its platform of listed and unlisted trusts via strategic acquisitions, while at the same time maintaining strong operating performance and returns to investors2.

In October 2018, Centuria Metropolitan REIT (CMA) acquired three metro office assets and a 25% stake in a fourth, valued at $520.9 million in total. Partially funded by a $276 million equity raising, at $645 million the total acquisition and capital raising together represented Centuria’s largest single direct transaction ever, and the second largest commercial transaction in Australia this year. CMA’s portfolio grew to approximately $1.5 billion as a result, and CNI’s market capitalisation rose to $500 million

This month, CMA will settle and begin receiving rental income from 2 Kendall Street, Williams Landing in Victoria – a property which is leased to Target for 10 years, with fixed rent reviews.

In other significant transactions this year, Centuria purchased an office property in Geelong for $115.25 million, as well as a 50% share in the Bendigo & Adelaide Bank headquarters in Adelaide for $92.3 million, both of which are held in single asset unlisted funds.

Commenting on the most recent additions to CIP’s portfolio of high-quality industrial assets, Centuria’s Head of Real Estate and Funds Management, Jason Huljich, said that this recent deal takes CIP’s acquisitions to almost $100 million since September 2018.

“Both properties fit with CIP’s strategy to invest in fit-for-purpose, quality assets, well-positioned in established industrial markets and close to major transport infrastructure.

“They are both 100% leased to high-quality ASX-listed tenants, with strong potential for renewals, and were purchased with an attractive weighted average initial yield of 7.0% p.a.

Centuria Capital Group CEO, John McBain said that 2018 had been a year of growth and consolidation for Centuria and that he anticipates further activity in 2019.

“Our assets under management were $4.6 billion at the end of 2017, and over the year this figure has grown to $5.5 billion as a result of strategic acquisitions and the expert active management of our existing portfolio.

“We have a track record of providing funds management and active property management – and we are pleased we have been able to maintain and improve our results in a year characterised by significant growth,” he said.


1 As at 4 December 2018

2 Past performance is not indicative of future performance.

8 Central Avenue, Sydney

8 Central Ave, South Eveleigh is a modern, A-Grade commercial office, television production and studio facility over 11 levels and one level of basement parking for 350 vehicles.

The property is located within a commercial precinct known as South Eveleigh, an inner southern locale approximately 3.5 kilometres south of the core of the Sydney CBD.
Current leasing opportunities:

Suite/LevelArea
(sqm)		Rent (per sqm p.a. + GST)TimingCommentFloor plan
Suite 4022,031.2$825 netJuly 2020Efficient column free space featuring great natural light.UNDER OFFER
Suite 8021,274.6$825 netSep 2020Space to be provided in a refurbished open plan condition.View floor plan
Level 93,006.0$830 netSep 2020Space featuring good quality fitout with 236 workstations.View floor plan

Outgoings: $79.76 per square metre per annum + GST.
Car parking: There are a total on 20 available.

Figures exclude GST.

Contact

Karbon Property
338 Pitt St
Sydney NSW 2000		Joshua Watts
T: +61 2 9283 6779
M: 0411 095 247
E: Joshua@karbonproperty.com.au		James Mccourt
T: +61 2 9283 6779
M: 0411 785 961
E: James.Mccourt@karbonproperty.com.au
Knight Frank
Level 22, 123 Pitt Street
Sydney NSW 2000		Nick Lau
T: +61 2 9036 6764
M: 0414 548 111
E: Nick.Lau@au.knightfrank.com		Al Dunlop
T: +61 2 9036 6765
M: 0403 543 206
E: Al.Dunlop@au.knightfrank.com
Centuria
Level 41, Chifley Tower
2 Chifley Square
SYDNEY NSW 2000		David Schmidt-Lindner
T: +61 2 8923 8954
M: 0415 447 653
E: David.Schmidt-Lindner@centuria.com.au		 

 

465 Victoria Ave

Cargo Park is located prominently off the first ramp of the Tullamarine Freeway within the highly sought after Tullamarine business hub.

The location provides unparalleled exposure to passing traffic on the Tullamarine Freeway and is located just off the Mickleham Road exit.  Cargo Park delivers exceptional access to Melbourne Airport’s 350,000 annual tonne airfreight infrastructure.

Cargo Park has been recently refurbished and offers flexibility in tenancy layouts across a total of 50 office suites and 35 warehouses.

Current leasing opportunities

Suite/LevelArea
(sqm)		Rent (per sqm p.a. + GST)TimingCommentFloor Plan
Warehouse & Office721.5$110NowSingle office and warehouse space available.N/A
Offices49.9 – 319.5$200NowSeveral refurbished office spaces availableN/A
Warehouse879.8$90NowWarehouse spaces availableN/A
Warehouse 26-291,484.8$90NowSpecial warehouse space of 3 joined warehouses.N/A

Figures exclude GST or government levies. Areas are indicative only.

Contact

CBRE
Level 34, 8 Exhibition St
Melbourne VIC 3000		Amanda Traficante
M: 0450 908 237
E: amanda.traficante@cbre.com.au
Centuria
Level 32, 120 Collins St
Melbourne VIC 3000		Mark Jones
T: (03) 9616 6570
M: 0414 968 676
E: Mark.Jones@centuria.com.au

825 Ann St

825 Ann Street is an A-Grade commercial office building built in 2013 with typical floor plates of 1,625sqm. The building has a 5 star NABERS Energy rating.

Located in the heart of the Fortitude Valley commercial precinct, the building has excellent access to transportation and a wide range of cafes, restaurants and retailers. The area also provides access to major arterials, directly linking the precinct to the CBD, northern suburbs and Brisbane’s Domestic and International Airports.

Current leasing opportunities

Suite/LevelArea
(sqm)		Rent (per sqm p.a. + GST)TimingCommentFloor Plan
Suite 802496.0$625ImmediateSpace features brand new fitout including boardroom, meeting room, 2 offices, 40 workstations and a kitchen / breakout area. The space features great natural light.View floor plan

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

Contact

Knight Frank
Level 3, 12 Creek Street,
Brisbane QLD 4000		Shane Van Beest
T: +61 7 3246 8803
M: 0415 575 007
E: Shane.Vanbeest@knightfrank.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

100 Brookes St

100 Brookes is an A-Grade commercial office building built in 2008 which offers spacious and virtually column free floor plates of circa 1,700sqm. The building also holds a 5 star NABERS Energy rating and has recently completed a capital expenditure program including façade realignment, End of Trip facilities and new ground floor café.

Located in the heart of the Fortitude Valley and Newstead commercial precincts on the corner of Wickham and Brookes Streets, 100 Brookes has excellent access to transportation and a wide range of cafes, restaurants and retailers. The area also provides access to major arterials, directly linking the precinct to the CBD, northern suburbs and Brisbane’s Domestic and International Airports.

Current leasing opportunities

Suite/LevelArea
(sqm)		Rent (per sqm p.a. + GST)TimingCommentFloor Plan
Ground Suite 2999.0$610 GrossImmediateRefurbished ground floor space with great street exposure, high ceilings, terrace and outdoor area.View IM
Level 11,752$630 GrossImmediateHigh quality near brand new existing fitout in place featuring an activity based working layout with 116 workstations.View IM
Level 21,739$630 GrossImmediateHigh quality near brand new existing fitout in place featuring an activity based working layout with 123 workstations.View IM
Suite 301819.0$620 GrossImmediateSuite featuring brand new fitout including reception, 5 meeting rooms, 2 offices, breakout space and an open plan area with 74 workstations.View IM

$20,000 bonus for Ground Floor and $16,000 bonus Westfield Voucher for Suite 301 for signed HoA prior to 31 December 2019 which leads to a signed lease.

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

Contact

Colliers
Level 30, 111 Eagle Street
Brisbane QLD 4000		Warwick Wolfe
T: +61 7 3370 1735
M: 0412 657 307
E:Warwick.Wolfe@colliers.com		Bo Veivers
T: +61 7 3370 1760
M: 0405 497 808
E:Bo.Veivers@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

131-139 Grenfell Street, Adelaide is a modern office building completed in 2009. It comprises five levels of high quality office space together with secure car parks. The building is contained within a strata titled mixed‑use development known as “Conservatory on Hindmarsh”.

Current leasing opportunities

Suite/LevelArea
(sqm)		Rent (per sqm p.a. + GST)TimingCommentFloor Plans
Suite 502390.7POAJuly 2020Fitted out as per plan.View floor plan
Level 6803.5$550July 2020Floor with existing fitout which can be either refurbished or retro fitted to feature 82 workstations.UNDER OFFER
Level 7812.0$550July 2020Floor with existing fitout which can be either refurbished or retro fitted to feature 74 workstations.View floor plan
Level 8812.0$550July 2020Floor with existing fitout which can be either refurbished or retro fitted to feature 76 workstations.View floor plan
Level 9812.0$550July 2020Front of house floor featuring a reception, large boardroom, 4 meeting rooms, 4 offices, 2 kitchens and a capacity for 42 workstations.View floor plan
Total 4,051.5

Commission arrangements: 100% of standard scale to introducing agent.

Figures exclude GST or government levies. Areas are indicative only

Contact

CBRE
Level 5, 151 Pirie Street
Adelaide SA 5000		Michael Pfitzner
T: (08) 8110 3314
M: 0408 807 823
E: Michael.Pfitzner@cbre.com.au
Andrew Bahr
T: (08) 8110 3330
M: 0411 049 183
E: Andrew.Bahr@cbre.com.au
Colliers
Level 9, 121 King William
Adelaide SA 5000		Trevor Boddy
T: (08) 8305 8829
M: 0473 111 060
E: Trevor.Boddy@colliers.com		 James Young
T: (08) 8305 8866
M: 0411 130 775
E: James.Young@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		 

 

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

Once again Centuria has taken the top honours in the recently released September 2018 quarter, with five of Centuria’s funds taking the first five places based on total return performance for the 12 months to September 20181:

  • 1st: Centuria 203 Pacific Highway Fund
  • 2nd: Centuria Havelock House Fund
  • 3rd: Centuria 8 Central Avenue Fund 2
  • 4th: Centuria ATP Fund
  • 5th: Centuria 8 Central Avenue Fund
  • 7th: Centuria 2 Wentworth St Fund

The Property Council of Australia/IPD Australia Unlisted Core Retail Property Fund Index measures net asset value2 total returns for core unlisted retail funds within the index in the Australian market. Participants include Centuria Property Funds, Charter Hall Group, Australian Unity, Cromwell Property Group, CorVal Partners and Folkestone Funds Management.

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 September 2018 quarter, the index included 27 funds totaling $5.7 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/IPD Unlisted Core Retail Property Fund index 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 IPD Australia Unlisted Core Retail 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. 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.

1 Past performance is not a reliable indicator of future performance.
2 Net of fees.

Please choose an option to download Unit-Linked Bonds

Australian Shares Growth Bond Balanced Bond
High Growth Bond Cash Plus Bond Guaranteed Bond
Imputation Fund Implemented Portfolios Dynamic Asset Allocation Bond

To immediately access and download the Investment Bonds Product Disclosure Statement, please complete the brief form below...