September 2019 quarter portfolio update

23 October 2019

September 2019 quarter portfolio update

Dexus today announced its property portfolio operational update for the quarter ended 30 September 2019.

Darren Steinberg, Dexus Chief Executive Officer said: “This office market cycle is certainly not over, with our office portfolio effectively full and the Sydney and Melbourne office market vacancy rates at very low levels. In this environment we remain confident of being able to continue to drive rental growth in our quality office properties in these markets, particularly in those leases coming up for expiry over the next few years.”

Highlights

• Leased 27,267 square metres¹ of office space and 4,660 square metres of office development space across 77 transactions with office portfolio occupancy remaining high at 98.1%
• Leased 22,691 square metres¹ of industrial space across 30 transactions, with industrial portfolio occupancy increasing slightly to 97.4%
• Launched our next stage of office as a service through the acquisition of the Australian operations of Six Ideas, a strategic workplace and change management consultancy, enabling our customers to align workplace with organisational goals and strategy
• Sold the North Shore Health Hub, Stage 1 currently under development at 12 Frederick Street, St Leonards on a fund-through basis to Healthcare Wholesale Property Fund
• Dexus was named the Global Industry Leader for the Real Estate Sector by the Dow Jones Sustainability Index (DJSI) and achieved Global Sector Leader status for listed office in the Global Real Estate Sustainability Benchmark (GRESB)