Investor Presentaiton
dexus
Industrial portfolio performance
Strong leasing across core and development properties
$11.6 billion
Dexus group industrial
portfolio
>690
Customers
213
Properties
3.9 million
$4.3 billion
Dexus balance sheet industrial portfolio
Leased by area¹,3
373,301sqm
across 75 transactions
FY21: 200,842sqm
Average incentives 1,3,4
13.5%
FY21: 17.8%
Occupancy³
98.1%
FY21: 97.7%
› Significant leasing volumes across stablised portfolio and development
leasing
› Portfolio 4.0% under-rented as a result of strong market rent growth, which
remains supported by ongoing structural tailwinds
> 24% of portfolio set to access rental reversion upon expiry in FY23 and FY24
› Rising transport costs to increasingly favour well located industrial assets
Dexus industrial lease expiry profile (by income)³
18%
17.1%
WALE³
16%
15.0%
4.7 years
14%
13.2%
FY21: 4.4 years
12%
10.9%
Square metres
10%
Effective LFL income 2,3
Portfolio one-year
7.8%
3.0-3.5%
Average fixed rental
+3.1%
total return³
18.9%
8%
6%
4%
increases
Face: +2.6%
at 30 June 2022
1.9%
2%
0%
1.
Excludes development leasing of 330,097sqm across 21 transactions.
2.
Excludes business parks, rent relief and provision for expected credit losses. Including business parks, effective LFL was 2.1% and face LFL was +4.0%.
Including business parks, rent relief and provision for expected credit losses, effective LFL was +2.4% and face LFL was +4.1%.
Available
FY23
FY24
FY25
FY26
FY27
3.
Dexus balance sheet portfolio performance statistics exclude co-investments in pooled funds.
4.
Including impact of one large renewal whose net effective rent remained the same. Excluding this renewal, average incentives for FY22 were 10.7%.
17 August 2022
19
Dexus 2022 Annual Results PresentationView entire presentation