Property Portfolio
Overview
Convenience Retail’s portfolio comprises 112 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 11.5 years. The total value of the portfolio is $803 million, reflecting a weighted average capitalisation rate of 5.82%.
Key portfolio metrics
As at 31 December 2021
| Number of properties | 112 |
| Total value | $803m |
| Occupancy (by income) | 99.7% |
| Weighted Average Capitalisation Rate (WACR) | 5.82% |
| Weighted Average Lease Expiry (WALE) (by income) | 11.5 years |
| Average annual rent increase* | 3.0% |
| Number of tenants | 164 |
| Major tenants | Chevron, 7-Eleven, EG Australia, Viva Energy Australia, Coles Express, United, Ampol |
* Assumes CPI of 2.25%.
DXC's property portfolio is available to download here or please scroll down to view.
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Portfolio summary
| Property | State | Major Tenant | Site Type | Book Value ($m) | Cap Rate | WALE (years) | Occupancy (by income) | Land Area (sqm) |
|---|---|---|---|---|---|---|---|---|
| 397 Pacific Highway, Belmont North | NSW | EG Australia | Metropolitan | 9.1 | 4.50% | 10.3 | 100% | 2,953 |
| 235 Cobra Street, Dubbo1 | NSW | Mobil | Regional | 6.3 | 6.00% | - | - | 4,429 |
| 22-36 Parkes Road, Forbes | NSW | Ampol | Regional | 9.6 | 6.00% | 8.4 | 100% | 3,548 |
| 176 Otho Street, Inverell | NSW | Coles Express | Regional | 5.9 | 6.00% | 8.3 | 100% | 1,426 |
| Cnr Northcote Street & Main Road, Kurri Kurri | NSW | Chevron | Highway | 11.8 | 5.50% | 12.9 | 100% | 41,650 |
| Cnr Vardys Road & Turbo Road, Marayong | NSW | EG Australia | Metropolitan | 9.4 | 4.75% | 9.4 | 100% | 4,874 |
| 3 Blueberry Road, Moree | NSW | Chevron | Highway | 13.3 | 6.00% | 11.3 | 100% | 30,500 |
| 172 New England Highway, Rutherford | NSW | Chevron | Metropolitan | 7.6 | 5.25% | 12.9 | 100% | 2,609 |
| Kempsey South Service Centre, 511 Pacific Highway, South Kempsey | NSW | Chevron | Highway | 26.2 | 5.50% | 12.9 | 100% | 49,530 |
| Cnr Weakleys & Glenwood Drives, Thornton | NSW | Chevron | Metropolitan | 11.5 | 5.50% | 11.6 | 100% | 8,550 |
| 449 Victoria Street, Wetherill Park | NSW | Chevron | Metropolitan | 10.7 | 5.25% | 13.6 | 100% | 7,024 |
| 1180 Beaudesert Road, Acacia Ridge | QLD | Viva Energy | Metropolitan | 12.0 | 5.75% | 6.8 | 100% | 6,098 |
| 35-39 Arnold Street, Aeroglen | QLD | Chevron | Metropolitan | 4.4 | 6.50% | 12.0 | 100% | 3,224 |
| 49 Tolga Road, Atherton | QLD | Chevron | Metropolitan | 2.2 | 6.75% | 13.0 | 100% | 1,619 |
| 130-132 Edwards Street, Ayr | QLD | Coles Express | Regional | 5.1 | 6.75% | 7.5 | 100% | 2,015 |
| 100/22 Nicholson Street, Banana | QLD | Chevron | Regional | 3.9 | 7.50% | 13.7 | 100% | 10,100 |
| 28 Supply Road, Bentley Park | QLD | Chevron | Metropolitan | 7.2 | 6.00% | 10.9 | 100% | 3,251 |
| 198 Wayne Goss Drive, Berrinba | QLD | United | Metropolitan | 8.7 | 6.00% | 12.6 | 100% | 3,639 |
| 164-170 David Low Way, Bli Bli | QLD | Chevron | Metropolitan | 3.9 | 7.00% | 11.6 | 100% | 3,500 |
| 900 Ingham Road, Bohle | QLD | Chevron | Metropolitan | 7.5 | 6.50% | 11.9 | 100% | 7,733 |
| 19038 Bruce Highway, Bowen | QLD | Chevron | Regional | 4.3 | 6.75% | 13.0 | 100% | 10,806 |
| 11 Sovereign Avenue, Bray Park | QLD | 7-Eleven | Metropolitan | 4.8 | 6.00% | 7.6 | 100% | 1,967 |
| 264 Browns Plains Road, Browns Plains | QLD | 7-Eleven | Metropolitan | 6.7 | 6.00% | 8.3 | 100% | 2,776 |
| 10 Takalvan Street, Bundaberg West | QLD | Chevron | Metropolitan | 2.4 | 5.75% | 13.0 | 100% | 898 |
| 60 Hawkins Crescent, Bundamba | QLD | Chevron | Highway | 22.8 | 5.75% | 12.9 | 100% | 18,190 |
| 44-46 Cessna Drive, Caboolture | QLD | Chevron | Metropolitan | 7.3 | 6.00% | 8.9 | 100% | 4,947 |
| 79-89 Mulgrave Road, Cairns | QLD | Viva Energy | Metropolitan | 6.9 | 6.50% | 9.7 | 100% | 2,833 |
| 2948 Old Cleveland Road, Capalaba | QLD | EG Australia | Metropolitan | 6.2 | 5.25% | 9.8 | 100% | 3,369 |
| 3201 Old Cleveland Road, Chandler | QLD | Chevron | Metropolitan | 11.7 | 5.75% | 12.2 | 100% | 5,730 |
| Cnr Edith Street and Bruce Highway, Cluden | QLD | Chevron | Highway | 16.5 | 6.00% | 12.6 | 100% | 10,001 |
| 209 Old Gympie Road, Dakabin | QLD | 7-Eleven | Metropolitan | 5.8 | 5.50% | 9.7 | 100% | 3,324 |
| 12-14 Rosemary Street, Durack | QLD | 7-Eleven | Metropolitan | 7.4 | 5.75% | 7.7 | 100% | 5,929 |
| 282 Wardell Street, Enoggera | QLD | Chevron | Metropolitan | 2.5 | 6.00% | 11.6 | 100% | 1,093 |
| 25 Bolam Street, Garbutt | QLD | Chevron | Metropolitan | 3.2 | 6.25% | 12.9 | 100% | 5,100 |
| 73-77 Railway Street, Gatton | QLD | Coles Express | Regional | 5.6 | 6.50% | 4.2 | 100% | 1,727 |
| 2 Mulgrave Street, Gin Gin | QLD | Chevron | Regional | 4.5 | 7.00% | 10.2 | 100% | 20,380 |
| 840 Steve Irwin Way, Glass House Mountains | QLD | Chevron | Regional | 5.8 | 6.75% | 12.6 | 100% | 5,133 |
| 105-115 Cairns Road, Gordonvale | QLD | United | Highway | 18.4 | 5.75% | 9.6 | 100% | 9,150 |
| 1 Pub Lane, Greenbank | QLD | 7-Eleven | Metropolitan | 6.6 | 5.25% | 10.3 | 100% | 2,927 |
| 1 Tesch Road, Griffin | QLD | 7-Eleven | Metropolitan | 17.5 | 5.50% | 8.9 | 100% | 6,737 |
| 100 East-West Arterial Road, Hendra | QLD | Ampol | Metropolitan | 11.9 | 5.50% | 11.7 | 100% | 5,929 |
| 1 Cawdor Road, Highfields | QLD | 7-Eleven | Regional | 6.3 | 5.50% | 11.3 | 100% | 6,657 |
| 324-326 Logan River Road, Holmview | QLD | 7-Eleven | Metropolitan | 12.1 | 5.50% | 9.1 | 100% | 3,785 |
| 273-279 Gympie Road, Kedron | QLD | Chevron | Metropolitan | 4.2 | 6.00% | 13.6 | 100% | 1,604 |
| 1-3 Juers Street, Kingston | QLD | 7-Eleven | Metropolitan | 10.2 | 5.75% | 7.1 | 100% | 3,205 |
| 161 Thozet Road, Koongal | QLD | Chevron | Metropolitan | 2.6 | 6.25% | 12.0 | 100% | 736 |
| 708 Gympie Road, Lawnton | QLD | Viva Energy | Metropolitan | 4.8 | 7.00% | 15.0 | 100% | 5,553 |
| Cnr Anzac Avenue & Josey Road, Mango Hill | QLD | EG Australia | Metropolitan | 6.6 | 5.50% | 9.7 | 100% | 4,317 |
| 1977 Anzac Avenue, Mango Hill | QLD | Chevron | Metropolitan | 4.9 | 6.25% | 12.6 | 100% | 4,366 |
| 51-55 Aerodrome Road, Maroochydore | QLD | 7-Eleven | Metropolitan | 8.4 | 5.50% | 9.3 | 100% | 2,360 |
| 72 Walker Street, Maryborough | QLD | Chevron | Metropolitan | 2.5 | 7.25% | 13.6 | 100% | 1,618 |
| 21 Ingham Road, Midtown | QLD | Chevron | Metropolitan | 6.6 | 6.00% | 13.6 | 100% | 2,073 |
| 550-560 Samford Road, Mitchelton | QLD | EG Australia | Metropolitan | 6.3 | 5.25% | 9.9 | 100% | 3,188 |
| 1 Flinders Street, Monto | QLD | Chevron | Regional | 1.5 | 7.00% | 11.9 | 100% | 1,604 |
| 1029 Ipswich Road, Moorooka | QLD | Viva Energy | Metropolitan | 11.0 | 5.75% | 9.4 | 100% | 3,078 |
| 1129 Moranbah Access Road, Moranbah | QLD | Chevron | Regional | 7.1 | 6.50% | 10.9 | 100% | 5,067 |
| 71 Thompson Street, Mosman Park | QLD | Chevron | Regional | 6.5 | 8.00% | 13.0 | 100% | 28,800 |
| 420-426 Mt Cotton Road, Mt Cotton | QLD | EG Australia | Metropolitan | 7.3 | 5.25% | 9.8 | 100% | 4,021 |
| 53793 Bruce Highway, Mt Larcom | QLD | Chevron | Highway | 8.9 | 6.00% | 11.7 | 100% | 12,482 |
| 1233 Wynnum Road, Murarrie | QLD | EG Australia | Metropolitan | 6.6 | 5.00% | 9.6 | 100% | 3,625 |
| 921 Nambour Connection Road, Nambour | QLD | Chevron | Metropolitan | 1.5 | 7.25% | 12.6 | 100% | 2,097 |
| 43 Stapylton Street, North Lakes | QLD | 7-Eleven | Metropolitan | 11.1 | 5.25% | 9.9 | 100% | 4,000 |
| 17-25 Toombul Road, Northgate | QLD | EG Australia | Metropolitan | 6.6 | 5.00% | 9.8 | 100% | 2,969 |
| 2215 David Low Way, Peregian Beach | QLD | Chevron | Metropolitan | 4.2 | 6.25% | 11.9 | 100% | 1,016 |
| 102-104 Cook Street, Portsmith | QLD | Chevron | Metropolitan | 7.2 | 6.25% | 13.0 | 100% | 6,032 |
| 63 Raceview Street, Raceview | QLD | 7-Eleven | Metropolitan | 10.3 | 5.75% | 5.8 | 80% | 3,085 |
| 353 Redbank Plains Road, Redbank Plains | QLD | 7-Eleven | Metropolitan | 6.4 | 6.00% | 14.9 | 100% | 4,231 |
| 4545 Flinders Highway, Reid River | QLD | Chevron | Regional | 3.0 | 8.50% | 11.9 | 100% | 21,800 |
| 437 Yaamba Road, Rockhampton | QLD | BP | Regional | 6.0 | 6.75% | 5.3 | 100% | 1,102 |
| 25 Kiernan Drive, Roseneath | QLD | Chevron | Regional | 8.2 | 7.00% | 13.6 | 100% | 13,501 |
| 77-79 Bowen Street, Rosslea | QLD | Chevron | Metropolitan | 3.4 | 5.75% | 10.9 | 100% | 2,474 |
| 45 Range Road, Sarina | QLD | Chevron | Regional | 2.3 | 7.00% | 12.9 | 100% | 1,679 |
| 124-130 Paradise Road, Slacks Creek | QLD | EG Australia | Metropolitan | 5.9 | 5.25% | 9.8 | 100% | 2,799 |
| 983 Waterworks Road, The Gap | QLD | Chevron | Metropolitan | 4.2 | 6.00% | 11.6 | 100% | 2,294 |
| 5/1 Brygon Creek Drive, Upper Coomera | QLD | 7-Eleven | Metropolitan | 7.1 | 5.50% | 8.5 | 100% | 3,247 |
| 219 Westphalen Drive, Warrego | QLD | Ampol | Highway | 16.0 | 5.25% | 11.2 | 100% | 6,317 |
| 127 Kingston Road, Woodridge | QLD | Chevron | Metropolitan | 6.0 | 6.00% | 11.6 | 100% | 5,000 |
| 108 Compton Road, Woodridge | QLD | 7-Eleven | Metropolitan | 6.5 | 6.00% | 7.9 | 100% | 1,609 |
| 656 Bruce Highway, Woree | QLD | Chevron | Metropolitan | 1.7 | 6.75% | 10.9 | 100% | 1,376 |
| 74 Connor Street, Zilzie | QLD | Chevron | Regional | 1.8 | 6.75% | 10.9 | 100% | 1,300 |
| 225 Womma Road, Edinburgh | SA | Viva Energy | Metropolitan | 6.5 | 5.25% | 13.5 | 100% | 9,371 |
| 702 Main Road, Gepps Cross | SA | Mobil X | Metropolitan | 5.8 | 5.50% | 13.3 | 100% | 3,850 |
| 591 Grand Junction Road, Gepps Cross Grand Junction | SA | OTR | Metropolitan | 7.7 | 5.25% | 19.6 | 100% | 3,850 |
| 303 Glen Osmond Road, Glenunga | SA | OTR | Metropolitan | 6.6 | 5.00% | 19.5 | 100% | 1,646 |
| 11-19 Clare Street, Port Adelaide, Grand Junction | SA | Viva Energy | Metropolitan | 6.5 | 5.25% | 13.7 | 100% | 2,891 |
| 323 North East Road, Hampstead Gardens | SA | Mobil X | Metropolitan | 5.2 | 5.50% | 13.3 | 100% | 1,972 |
| 473 North East Road, Hillcrest | SA | Mobil X | Metropolitan | 9.1 | 5.19% | 15.0 | 100% | 4,113 |
| 1 Mildred Street, Kapunda | SA | OTR | Regional | 5.8 | 6.00% | 19.4 | 100% | 1,413 |
| 52 Aldershot Road, Lonsdale | SA | Mobil X | Metropolitan | 5.3 | 5.50% | 14.3 | 100% | 2,400 |
| 193-195 Jubilee Highway East, Mt Gambier | SA | United | Regional | 6.9 | 6.00% | 14.2 | 100% | 7,008 |
| 61-65 Old Princes Highway, Murray Bridge Eastside | SA | OTR | Regional | 4.1 | 6.25% | 19.4 | 100% | 3,618 |
| 1 Deviation Road, Naracoorte | SA | OTR | Regional | 8.3 | 6.00% | 19.4 | 100% | 9,846 |
| 690-694 Lower North East Road, Paradise | SA | Mobil X | Metropolitan | 6.5 | 5.50% | 14.4 | 100% | 2,835 |
| 226-228 Bridge Road, Pooraka | SA | Viva Energy | Metropolitan | 6.2 | 5.25% | 13.0 | 100% | 1,977 |
| 337 St Vincent Street East, Port Adelaide | SA | Viva Energy | Metropolitan | 6.3 | 5.25% | 12.9 | 100% | 3,851 |
| 14 Commercial Road, Shiedow Park | SA | Mobil X | Metropolitan | 7.7 | 5.40% | 14.0 | 100% | 2,196 |
| 457-459 Victoria Road, Taperoo | SA | Viva Energy | Metropolitan | 6.2 | 5.25% | 13.6 | 100% | 2,077 |
| 89 Military Road, West Beach | SA | OTR | Metropolitan | 4.9 | 5.25% | 19.4 | 100% | 1,936 |
| 591 Dorset Road, Bayswater North | VIC | EG Australia | Metropolitan | 6.5 | 4.50% | 9.5 | 100% | 4,286 |
| Cnr Thompson Road & Victoria Street, Geelong North | VIC | EG Australia | Metropolitan | 5.2 | 5.00% | 9.8 | 100% | 3,441 |
| 229 Balcatta Road, Balcatta | WA | Chevron | Metropolitan | 7.3 | 6.00% | 10.7 | 100% | 2,500 |
| 49 Great Eastern Highway, Bellevue | WA | Viva Energy | Metropolitan | 6.8 | 6.50% | 11.7 | 100% | 2,064 |
| Cnr Amherst & Nicholsons Road, Canningvale | WA | EG Australia | Metropolitan | 7.7 | 5.75% | 10.2 | 100% | 2,912 |
| 1182 Chapman Road, Glenfield | WA | Chevron | Regional | 5.5 | 7.75% | 12.6 | 100% | 11,372 |
| 2341 Albany Highway, Gosnells | WA | Viva Energy | Metropolitan | 5.1 | 6.00% | 13.3 | 100% | 1,757 |
| 1 Wishart Street, Gwelup | WA | Chevron | Metropolitan | 4.7 | 6.00% | 11.6 | 100% | 1,089 |
| 224 Clontarf Road, Hamilton Hill | WA | Chevron | Metropolitan | 5.9 | 6.00% | 11.6 | 100% | 1,998 |
| 342 Albany Highway, Orana | WA | Viva Energy | Regional | 6.6 | 6.50% | 11.1 | 100% | 3,220 |
| Lot 401 Great Northern Highway, South Hedland | WA | Chevron | Regional | 6.2 | 7.50% | 11.8 | 100% | 4,027 |
| 752 North Lake Road, South Lake | WA | EG Australia | Metropolitan | 8.4 | 5.75% | 10.1 | 100% | 4,287 |
| 485 Balfour Street, Southern River | WA | 7-Eleven | Metropolitan | 6.0 | 6.00% | 10.7 | 100% | 1,993 |
| 1 Kakadu Road, Yanchep | WA | Chevron | Metropolitan | 7.0 | 6.25% | 13.8 | 100% | 3,068 |
| Portfolio total | 802.9 | 5.82% | 11.5 | 99.7% | 628,149 | |||
| 187 South Pine Road, Brendale2 | QLD | BP | Metropolitan | 9.1 | 5.21% | 12.2 | 100% | 4,121 |
Notes
1. Under development, occupation and WALE metrics not included in portfolio total.
2. Site settled 4 February 2022, post 31 December 2021 and is therefore excluded from portfolio total above. Acquired for $9.1 million plus acquisition costs.