Investor Presentaiton
dexus
Office portfolio performance
High occupancy maintained despite challenging operating environment
$23.9 billion
Dexus group
office portfolio
>1,380
Customers
45 properties
Across key CBDs
1.6 million
$13.3 billion
Dexus balance sheet office portfolio
Leased by area¹,3
152,877sqm
FY21: 184,029sqm
Occupancy³
95.6%
FY21: 95.2%
Average incentives 1,3
29.4%
FY21: 24.9%
› Occupancy maintained at above 95% despite the challenging operating
environment
› Incentives appear to have peaked across our key markets
› Sydney showing signs of recovery with market effective rent growth
turning positive
> Dexus well placed with its 94% prime grade portfolio
› Customers upgrading accounted for 47% of space leased across new
leasing deals
Historical leasing (including development leasing)
WALE3
sqm
4.7 years
160,000
Square metres
FY21: 4.6 years
140,000
120,000
3.5-4.0%
Average fixed rental
increases
Effective LFL income²,3
+2.7%
Face: +1.7%
Portfolio one-year
100,000
total return³
7.1%
80,000
60,000
40,000
at 30 June 2022
20,000
chand
250
200
150
100
50
1.
Excludes development leasing of 96,749sqm across 12 transactions.
2.
Excludes rent relief and provision for expected credit losses. Including these impacts: Effective +4.4% and Face +3.0%.
3.
Dexus balance sheet portfolio performance statistics exclude co-investments in pooled funds.
4.
Prime grade buildings represent 94% of the office portfolio excluding assets held for sale and including development-affected assets.
15
Dexus 2022 Annual Results Presentation
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HY19
2H19
HY20
2H20
HY21
2H21
HY22
2H22
Area leased
-Leasing deals
17 August 2022View entire presentation