Property Portfolio

Overview


Convenience Retail’s portfolio comprises 107 service station sites predominantly located on the Eastern Seaboard states of Australia. The portfolio is a combination of proven operating locations and brand new sites and has a weighted average lease expiry of 11.7 years. The total value of the portfolio is $723 million, reflecting a weighted average capitalisation rate of 5.96%.

Key portfolio metrics


As at 31 August 2021

 Number of properties   107
 Total value  $722.9m
 Occupancy  99.7%
 Weighted Average Capitalisation Rate (WACR)  5.96%
 Weighted Average Lease Expiry (WALE) (by income)  11.7 years
 Average annual rent increase*  3.0%
 Number of tenants  37
 Major tenants  Chevron, 7-Eleven, EG Group, Viva Energy Australia

* Assumes CPI of 1.0%

Portfolio summary

Address State Major Tenant Site Type Book Value Cap Rate WALE (years) Occupancy (by GLA) Land Area (sqm)
1182 Chapman Road, Glenfield WA Chevron Regional 5.4 7.75% 13.1 100% 11,372
1180 Beaudesert Road, Acacia Ridge QLD Viva Energy Metropolitan 11.5 5.75% 7.3 100% 6,098
45 Arnold Street, Aeroglen QLD Chevron Metropolitan 4.2 6.50% 12.5 100% 3,224
49 Tolga Road, Atherton QLD Chevron Metropolitan 2.2 6.75% 13.5 100% 1,619
130 Edwards Street, Ayr QLD Coles Express Regional 5.1 6.75% 8 100% 2,015
229 Balcatta Road, Balcatta WA Chevron Metropolitan 7 6.00% 11.1 100% 2,500
22 Nicholson Street, Banana QLD Chevron Regional 3.8 7.50% 14.2 100% 10,100
591 Dorset Road, Bayswater North VIC EG Australia Metropolitan 6.2 4.50% 8.7 100% 4,286
49 Great Eastern Highway, Bellevue WA Viva Energy Metropolitan 6.2 6.65% 12.2 100% 2,064
397 Pacific Highway, Belmont North NSW EG Australia Metropolitan 9.1 4.50% 10.7 100% 2,953
28 Supply Road, Bentley Park QLD Chevron Metropolitan 7 6.00% 11.5 100% 3,251
188-202 Wayne Goss Drive, Berrinba QLD United Metropolitan 8.3 6.00% 13 100% 3,639
164-170 David Low Way, Diddillibah QLD Chevron Metropolitan 3.8 7.00% 12.1 100% 3,500
900 Ingham Road, Bohle QLD Chevron Metropolitan 7.3 6.50% 12.5 100% 7,733
19038 Bruce Highway, Bowen QLD Chevron Regional 4.2 6.75% 13.5 100% 10,806
11 Sovereign Avenue, Bray Park QLD 7-Eleven Metropolitan 4.8 6.00% 8.1 100% 1,967
264 Browns Plains Road, Browns Plains QLD 7-Eleven Metropolitan 6.5 6.00% 8.8 100% 2,776
10 Takalvan Street, Bundaberg West QLD Chevron Metropolitan 2.4 5.75% 13.5 100% 898
34 Cessna Drive, Caboolture QLD Chevron Metropolitan 7.1 6.00% 9.4 100% 4,947
Cnr Amherst & Nicholsons Road, Canning Vale WA EG Australia Metropolitan 7.6 5.75% 10.7 100% 2,912
2948 Old Cleveland Road, Capalaba QLD EG Australia Metropolitan 5.4 5.50% 10.3 100% 3,369
71 Thompson Street, Charters Towers QLD Chevron Regional 6.3 8.00% 13.5 100% 28,800
60 Hawkins Crescent, Bundamba QLD Chevron Highway 22.1 5.75% 13.5 100% 18,190
Cnr Edith Street and Bruce Highway, Cluden QLD Chevron Highway 16.5 6.00% 13.1 100% 10,001
209 Old Gympie Road, Dakabin QLD 7-Eleven Metropolitan 5.3 5.75% 10.2 100% 3,324
14 Rosemary Street, Durack QLD 7-Eleven Metropolitan 6.6 6.25% 8.2 100% 5,929
225 Womma Road, Edinburgh North SA Viva Energy Metropolitan 5.9 5.75% 14 100% 9,371
282 Wardell Street, Enoggera QLD Chevron Metropolitan 2.5 6.00% 12.1 100% 1,093
22-36 Parkes Road, Forbes NSW Ampol Regional 8.7 6.25% 8.9 100% 3,548
73 Railway Street, Gatton QLD Coles Express Regional 5.6 6.50% 4.7 100% 1,727
25 Bolam Street, Garbutt QLD Chevron Metropolitan 3.1 6.25% 13.5 100% 5,100
Cnr Thompson Road & Victoria Street, Geelong North VIC EG Australia Metropolitan 5.2 5.00% 10.3 100% 3,441
702 Main North Road, Gepps Cross SA Mobil X Metropolitan 5.1 6.25% 13.8 100% 3,850
591 Grand Junction Road, Gepps Cross SA OTR Metropolitan 7.5 5.40% 20 100% 2,727
2 Mulgrave Street, Gin Gin QLD Chevron Regional 4.5 7.00% 10.7 100% 20,380
840 Steve Irwin Way, Glasshouse Mountains QLD Chevron Regional 5.7 6.75% 13.1 100% 5,133
303 Glen Osmond Road, Glenunga SA OTR Metropolitan 6.1 5.50% 19.9 100% 1,488
105-115 Cairns Road, Gordonvale QLD United Highway 18.4 5.77% 9.4 100% 9,150
2341-2345 Albany Highway, Gosnells WA Viva Energy Metropolitan 5 6.00% 13.9 100% 1,757
1 Pub Lane, Greenbank QLD 7-Eleven Metropolitan 6.6 5.25% 11 100% 2927
185 Brays Road, Griffin QLD 7-Eleven Metropolitan 16.6 5.70% 9.6 100% 6,737
1 Wishart Street, Gwelup WA Chevron Metropolitan 4.7 6.00% 12.1 100% 1,089
224 Clontarf Road, Hamilton Hill WA Chevron Metropolitan 5.9 6.00% 12.1 100% 1,998
323 North East Road, Hampsted Gardens SA Mobil X Metropolitan 4.7 6.05% 13.8 100% 1,972
100 East-West Arterial Road, Hendra QLD Ampol Metropolitan 11.6 5.50% 12.2 100% 5,929
1 Cawdor Road, Highfields QLD 7-Eleven Regional 6.2 5.50% 11.9 100% 6,657
342-326 Logan Drive, Holmview QLD 7-Eleven Metropolitan 12 5.50% 9.7 100% 3,785
176 Otho Street, Inverell NSW Coles Express Regional 5.9 6.00% 8.8 100% 1,426
1 Mildred Street, Kapunda SA OTR Regional 5.5 6.25% 19.9 100% 1,447
273-279 Gympie Road, Kedron QLD Chevron Metropolitan 4.2 6.00% 14.1 100% 1,604
511 Pacific Highway, South Kempsey NSW Chevron Highway 26.2 5.50% 13.5 100% 49,530
1-3 Juers Street, Kingston QLD 7-Eleven Highway 10.2 5.75% 7.5 100% 3,205
161 Thozet Road, Koongal QLD Chevron Metropolitan 2.5 6.25% 12.5 100% 736
Cnr Northcote Street & Main Street, Kurri Kurri NSW Chevron Highway 11.5 5.50% 13.5 100% 41,650
708 Gympie Road, Lawnton QLD Viva Energy Metropolitan 4.8 7.00% 0.6 100% 5,553
52 Aldershot Road, Lonsdale SA Mobil X Metropolitan 4.5 6.35% 14.8 100% 2,400
Cnr Anzac Ave & Josey Rd, Mango Hill QLD EG Australia Metropolitan 6.5 5.25% 10.2 100% 4,317
1977 Anzac Avenue, Mango Hill QLD Chevron Metropolitan 4.9 6.25% 13.1 100% 4,366
Cnr Vardys & Turbo Road, Marayong NSW EG Australia Metropolitan 9.4 4.75% 10.1 100% 4,874
51-55 Aerodrome Road, Maroochydore QLD 7-Eleven Metropolitan 7.5 6.00% 9.8 100% 2,360
72 Walker Street, Maryborough QLD Chevron Metropolitan 2.4 7.25% 14.1 100% 1,618
21 Ingham Road, West End QLD Chevron Metropolitan 6.6 6.00% 14.1 100% 2,073
550-560 Samford Road, Mitchelton QLD EG Australia Metropolitan 5.4 5.50% 10.4 100% 3,188
1 Flinders Street, Monto QLD Chevron Regional 1.5 7.00% 12.5 100% 1,604
1029 Ipswich Road, Moorooka QLD Viva Energy Metropolitan 10.5 5.75% 9.9 100% 3,078
1129 Moranbah Access Road, Moranbah QLD Chevron Regional 6.9 6.50% 11.5 100% 5,067
1 Blueberry Road, Moree NSW Chevron Highway 12.3 6.50% 11.7 100% 30,500
53793 Bruce Highway, Mount Larcom QLD Chevron Highway 8 6.50% 12.1 100% 12,482
420-426 Mt Cotton Road, Capalaba QLD EG Australia Metropolitan 6.6 5.50% 10.3 100% 4,021
1233 Wynnum Road, Murrarie QLD EG Australia Metropolitan 5.3 5.50% 8.8 100% 3,625
61-65 Old Princes Highway, Murray Bridge SA OTR Regional 3.9 6.50% 19.9 100% 3,610
921 Nambour Connection Road, Nambour QLD Chevron Metropolitan 1.5 7.25% 13.1 100% 2,097
1 Deviation Road, Naracoorte SA OTR Regional 8.1 6.25% 19.9 100% 9,846
43 Stapylton Road, North Lakes QLD 7-Eleven Metropolitan 10.7 5.50% 10.5 100% 4,000
17-25 Toombul Road, Northgate QLD EG Australia Metropolitan 5.6 5.50% 10.3 100% 2,969
342 Albany Highway, Orana WA Viva Energy Metropolitan 6.6 6.50% 11.5 100% 3,220
690-694 Lower North East Road, Paradise SA Mobil X Metropolitan 5.7 6.15% 14.9 100% 2,835
79-80 Mulgrave Road, Parramatta Park QLD Viva Energy Regional 6.7 6.50% 9.1 89% 2,833
2215 David Low Way, Peregian Beach QLD Chevron Metropolitan 4.1 6.25% 12.5 100% 1,016
224 Bridge Road, Pooraka SA Viva Energy Metropolitan 5.6 5.75% 13.5 100% 1,977
5-9 Clare Street, Port Adelaide SA Viva Energy Metropolitan 5.7 5.75% 14.2 100% 2,891
337 St Vincent Street, Port Adelaide SA Viva Energy Metropolitan 5.6 5.75% 13.4 100% 3,851
102 - 104 Cook Street, Portsmith QLD Chevron Metropolitan 7 6.25% 13.5 100% 6,032
127 Kingston Road, Woodridge QLD Chevron Metropolitan 6 6.00% 12.1 100% 5,000
63 Raceview Street, Raceview QLD 7-Eleven Metropolitan 9.4 6.25% 6 87% 3,085
353 Redbank Plains Road, Redbank Plains QLD 7-Eleven Metropolitan 6.4 6.00% 8.1 100% 4,231
4545 Flinders Highway, Reid River QLD Chevron Regional 2.9 8.50% 12.5 100% 21,800
437 Yaamba Road, North Rockhampton QLD BP Regional 6 6.75% 5.8 100% 1,102
25 Kiernan Drive, Roseneath QLD Chevron Regional 8.2 7.00% 14.1 100% 13,501
77-79 Bowen Street, Rosslea QLD Chevron Metropolitan 3.3 5.75% 11.5 100% 2,474
172 New England Highway, Rutherford NSW Chevron Metropolitan 7.4 5.25% 13.5 100% 2,609
45 Range Road, Sarina QLD Chevron Regional 2.2 7.00% 13.5 100% 1,679
14 Commercial Road, Sheidow Park SA Mobil X Metropolitan 7.1 5.75% 14.5 100% 2,196
124-130 Paradise Road, Slacks Creek QLD EG Australia Metropolitan 5.4 5.50% 10.3 100% 2,799
Lot 401, Great Northern Highway, South Hedland WA Chevron Regional 6.1 7.50% 12.3 100% 4,027
753 North Lake Road, South Lake WA EG Australia Metropolitan 8.4 5.75% 10.6 100% 4,287
485 Balfour Road, Southern River WA 7-Eleven Metropolitan 5.9 6.00% 11.2 100% 1,993
457 Victoria Road, Taperoo SA Viva Energy Metropolitan 5.5 5.75% 14.1 100% 2,077
983 Waterworks Road, The Gap QLD Chevron Metropolitan 4.2 6.00% 12.1 100% 2,294
Cnr Weakleys & Glenwood Drives, Thornton NSW Chevron Metropolitan 11.5 5.50% 12.1 100% 8,550
5/1 Brygon Creek, Upper Coomera QLD 7-Eleven Metropolitan 6.9 5.25% 9.1 100% 3,247
89 Military Road, West Beach SA OTR Metropolitan 4.5 5.75% 19.9 100% 2,044
449 Victoria Street, Wetherill Park NSW Chevron Metropolitan 10.5 5.25% 14.1 100% 7,024
108 Compton Road, Woodridge QLD 7-Eleven Metropolitan 6.3 6.00% 8.4 100% 1,609
656 Bruce Highway, Woree QLD Chevron Metropolitan 1.7 6.75% 11.5 100% 1,376
1 Kakadu Road, Yanchep WA Chevron Metropolitan 6.8 6.25% 14.2 100% 3,068
74 Connor Street, Zilzie QLD Chevron Regional 1.8 6.75% 11.5 100% 1,300
Total $722.9m 5.96% 11.7 99.70% 599,405
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