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%