Propertylink’s in-house asset and property management team have continued to deliver strong leasing results across the wholly owned industrial portfolio and external funds during the second half of the 2018 financial year.
Propertylink’s Chief Investment Officer, Peter McDonald said Propertylink’s active approach to asset management was delivering excellent outcomes, with the wholly owned industrial portfolio at near to full occupancy with a low lease expiry profile.
Notably, a key June 2018 expiry in the wholly owned portfolio over 10,590 sqm at 82 Taryn Drive in Epping, Victoria was leased during the month with no downtime to New Age Caravans, part of the Walkinshaw Automotive Group, an existing tenant at Propertylink’s recently repositioned property in Clayton, Victoria.
“By retaining the management of our tenant relationships in-house we foster strong and enduring partnerships that enable us to work closely with our tenants to meet their changing needs. We have demonstrated this with the extension of our successful relationship with Walkinshaw Automotive, working collaboratively on space requirements for their New Age Caravans business and delivering a great outcome for all parties,” Mr McDonald said.
The strategic positioning of the wholly owned industrial portfolio to urban east-coast infill locations continues to deliver strong results for Propertylink.
“With 83% of the portfolio weighted to Sydney and Melbourne, we are exposed to the two strongest industrial markets in the country.
“The locations of these assets in urban infill areas positions us to capture significant rental growth fuelled by demand by e-commerce users in these highly sought after locations close to the end consumer,” Mr McDonald said.
Propertylink’s leasing success extended across assets held in external funds, having leased or agreed terms on 64,852 sqm of space across the portfolio during the second half of the financial year.
Propertylink’s Managing Director and Chief Executive Officer, Stuart Dawes said Propertylink’s fully integrated business model was providing a superior platform for delivery of strong returns to investors in its external funds.
“Since inception we have achieved a total return of 24% across our investment management platform, with our active approach to asset management including leasing and our strong ability to manage leasing risk, a core component in driving asset performance to deliver excellent results,” said Mr Dawes.
“There is continued strong appetite for international investors seeking exposure to Australian office and industrial real estate. This investor demand combined with our strong performance and strategies surrounding the emerging market trends of urbanisation and e-commerce positions us well for growth across our investment management platform,” he said.