Dexus Wholesale Property Fund

Overview Key strengths Key risks High-quality and diversified portfolio comprising Australian office (48% as of June 30, 2024), retail (33%), and industrial (19%) property assets. Exposure to structural changes in office tenant demand, including elevated rental incentives. Earnings and rental growth supported by solid lease-maturity profile, high occupancy, and tenant diversity. Softer retail spending due to inflationary and cost-of-living pressures. Prudent capital management consistent with conservative policies, with gearing within target range of 10%-20%. Elevated borrowing costs amid higher interest rates. The fund's A$13.1 billion portfolio, as of June 30, 2024, comprised of 47 assets located primarily across Australia's east coast, with over 90% of its assets in New South Wales, Queensland, and Victoria. The portfolio's diversified exposure to multiple

...Dexus Wholesale Property Fund (DWPF) benefits from its sizeable and diversified portfolio of high-quality office, retail, and industrial assets. The fund's A$13.1 billion portfolio, as of June 30, 2024, comprised of 47 assets located primarily across Australia's east coast, with over 90% of its assets in New South Wales, Queensland, and Victoria. The portfolio's diversified exposure to multiple property sectors, high occupancy of 96.9%, and a weighted average lease expiry of 4.4 years as of June 30, 2024 underpin the asset quality. The fund's office portfolio has been resilient to wider structural challenges in the sector. DWPF's office assets currently represent about 48% of the fund's portfolio. Its office occupancy...

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