An overview of Trafalgar's Investment Portfolio and Geographic diversification is detailed below:
Property
Location
Asset Type
Major Tenant
Initial Lease
Duration
Lease Start Date
Value Base Capitalisation Rate
Director's Valuation
$m(1)
Portfolio %
Thiess Corporate HQ
QLD
A-grade Office
A subsidiary of Leighton Holdings
10 yrs
March 11
8.50%
$62.51
36.8%
Fujitsu Centre
QLD
A-grade Office
Fujitsu
5 yrs
June 10
8.50%
$22.50
13.3%
ATO Hurstville
NSW
A-grade Office
Commonwealth Government
10 yrs
February 05
8.75%
$54.90
32.4%
Goulburn
NSW
B-grade Industrial
Vacant
N/A
N/A
12.00%
$7.00
4.1%
EDI Rail HQ
NSW
A-grade Industrial
EDI Limited
2 yrs
September 10
9.50%
$5.85
3.4%
DOTARS building
ACT
B-grade Office
Department of Infrastructure
7 yrs
August 10
9.50%
$16.89
10.0%
Totals
(Weighted Yield)
8.86%
$169.65
100%
Notes
1) Director's Valuations are supported by independant valuations dated June 2010
The weighted core yield has increased (from 8.54% as at June 2010) to 8.86% as at 31 December 2010 due to the sale of the Melbourne Broadcast Centre
The focus for investment properties is to renew expiring tenant leases.
A new 10 year lease has been agreed with Thiess Group for the Thiess Building.
A new 5 year lease has been entered into with Carabella Resources for 578m2 of space within the Fujitsu Centre.
A new 2 year lease has been entered into with Downer EDI Group in relation to the Granville building
Value by State
Value by Building
Vacancy Schedule The Trusts’ portfolio that is currently let or subject to tenancy pre-commencements has an average remaining lease term of 4.9 years (weighted by income).
Note: Lease renewal negotiations to extend lease expiries are being actively pursued
