Highlights

For the year ended 30 June 2009 

  • $23.8m gross rental income, up 9.7%

  • 4.1% average increase in rents reviewed

  • 9.0 years Sector-leading weighted average lease term

  • 98% portfolio occupancy

  • 81% of the newly developed Ascot Central building leased

  • Green Star Office Design 4 star rating awarded to Ascot Central by the New Zealand Green Building Council
  • 5% of leases by rent expiring over the next two years, a result of the Trust’s successful tenant retention strategy
  • 10 new tenants secured, resulting in greater portfolio diversification

  • Sales of Thames Street, Melbourne, the Trust’s only development property and the Biomed property at Auckland, the Trust’s smallest investment asset

  • 2.4% sector-leading revaluation round with a small portfolio value decline of 2.4% or $7.1m

  • Gearing at 35.7% reducing to 33.6% post settlement of Thames Street and Biomed sales

  • The Trust’s banking facility is locked-in until 31 March 2011
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