Investor Presentaiton
Industrial take-up has long-term drivers
Demand driven by investment in last mile fulfilment, population growth and inventory build up
National industrial take-up remains above long-term average
Million sqm
5.0
4.5
4.0
3.5
3.0
2.5
2.0
1.5
1.0
0.5
0.0
2012
2013 2014 2015 2016 2017
2018
2019 2020 2021
2022
Retail ecommerce
Logistics Trade
Retail other
■Wholesale Trade
Manufacturing
Other
Full year estimate (pro-rata)
Source: ABS, JLL Research.
20
Dexus 2022 Annual Results Presentation
dexus
Ecommerce a long-term growth story for industrial as Australia catches up
20%
18%
15%
10%
5%
US online penetration rate
AUS online penetration rate
14%
0%
Mar-16
Mar-17
Mar-18
Mar-19
Mar-20
Mar-21
Mar-22
Dexus leasing observations
› Demand is broad-based including medical supplies, supermarkets and
groceries, agribusiness, materials supporting transport infrastructure, general
ecommerce and retailers investing in last mile fulfilment
> Transport costs account for up to 50% of a tenant's costs vs. rent accounting
for c. 5%, reinforcing the importance of having well located properties
› Dexus's development capability supports customers' growth requirements,
and delivers quality new products to the platformView entire presentation