APN Convenience Retail REIT (ASX:AQR)

Geoff Brunsdon
Non-Exec Chairman
Market Cap (AUD): 492.58M
Sector: Real Estate
Last Trade (AUD): 3.54 +0 (+0%)
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1. About

APN Convenience Retail REIT (“Convenience Retail”), managed by APN Funds Management Limited, is a listed Australian Real Estate Investment Trust (AREIT) which owns a portfolio of 70 convenience retail assets located in Queensland, Western Australia, New South Wales and Victoria. The portfolio, which is currently valued at $355.2 million, is leased to high-quality tenants on attractive, long-term leases.

Convenience Retail REIT provides investors with:

  • An attractive and defensive distribution yield backed by long term leases to high quality tenants;
  • A weighted average lease expiry (by income) of 12.1 years as at 31 December 2018;
  • A portfolio diversified by geography and tenant;
  • Significant growth opportunity through contracted annual rent increases in all leases and targeted acquisitions; and
  • Access to the people and capabilities of APN Property Group Limited, a dedicated, specialist real estate investment manager which has managed property investments on behalf of its clients for over 20 years, including a long track record in managing service station assets.

2. Business model

3. Strategy

4. Markets

5. Competition

6. History

7. Team

8. Financials

9. Risk