Overview
Convenience Retail’s portfolio comprises 70 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 12.1 years. The total value of the portfolio is $355.2 million, reflecting a weighted average capitalisation rate of 7.03%.
Key portfolio metrics
As at 31 December 2018
Number of properties | 70 |
Total value | $355.2m |
Occupancy | 100% |
Weighted Average Capitalisation Rate (WACR) | 7.03% |
Weighted Average Lease Expiry (WALE) (by income) | 12.1 years |
Average annual rent increase* | 2.9% |
Number of tenants | 20 |
Major tenants | Puma Energy, Woolworths, 7-Eleven |
* Assumes CPI of 2.0%