Property assets are real assets. These are physical or tangible assets - investments that you can see and touch, such as real estate.

Our property portfolio includes traditional sectors such as office, retail and industrial property, and niche sectors such as retirement villages, rental housing, airports and self-storage.

When selecting property investments, we look carefully at the surrounding asset, the types of tenants and the potential for longevity of the asset, which would secure long-term returns for members. Along with seeking to invest at attractive prices, active asset-management helps us deliver strong income and capital growth for our members from this asset class.

Two Melbourne Quarter

The Two Melbourne Quarter development is an A-grade commercial office tower located on Collins Street, within the Melbourne Quarter precinct. It is the second of three commercial towers planned for the precinct and will deliver 50,000m2 of office area over 24 floors. Construction commenced in March 2018 and completion is scheduled for July 2020.

The development is part of an urban regeneration project comprising retail, office and apartment dwellings. It is a mixed-use project, which means there is a combination of work, play & live environment, offering flexibility and efficiency for tenancies.

First State Super holds a 50% interest in the tower, which will target leading sustainability outcomes and ratings in energy and water consumption, waste management and indoor environment quality.

The other half is held by The Australian Prime Property Fund Commercial, managed by Lendlease Investment Management.

Investment date: March 2018

Returns to members: Returns will come from income we receive from tenants as rent. EnergyAustralia has agreed to lease approximately 22,000m2, taking up  10-and-a-half levels of the building’s high-rise floors, which is just under half of the total floor space.

Where this investment fits in our portfolio: All pre-mixed options; Alternatives (Property – unlisted sector) & Property single asset class option.

Barangaroo International Office Towers 1, 2 & 3 

Barangaroo comprises the commercial office towers, ancillary retail and car parking along the waterfront area of the Barangaroo South precinct. Since our initial investment in International Office Towers 2 & 3 in August 2013, we have acquired interest in Tower 1, the major tenants of which are PWC, HSBC and Marsh & McLennan, a global professional services firm. In the first quarter of 2018, Facebook Australia Pty Ltd moved in to occupy a portion of Tower 2.

Investment date: August 2013

Returns to members: Returns will come from income we receive from tenants as rent.

Where this investment fits in our portfolio: All pre-mixed options: Alternatives (Property – unlisted sector) & Property single asset class option. 

Darling Square

Our Darling Square investment is a 12-storey A-grade office building located in Sydney’s Darling Harbour precinct. The building was completed in July 2017 and provides a 400-bay public car park, a 50-bay office car park and 1,575m2 of retail space. Darling Square is one of Australia’s most environmentally sustainable office buildings, achieving a 6 Star Green Star rating.

Investment date: October 2016

Returns to members: Returns will come from income we receive from tenants as rent.

Where this investment fits in our portfolio: All pre-mixed options; Alternatives (Property - unlisted sector) & Property single asset class option.

Bankstown and Camden airports

Also known as Sydney Metro Airports, Bankstown and Camden Airports are located in western Sydney. The airport land permits a wide variety of uses from light industrial activities to manufacturing and logistics.

Investment date: November 2015

Returns to members: The bulk of returns will come from rental income from industrial tenants and development profits.

Where this investment fits in our portfolio: All pre-mixed options; Alternatives (Property - unlisted sector) & Property single asset class option.

The investments included are accurate as at 1 September 2018.

All investments carry risk, and First State Super does not guarantee the payment of income or performance of the investments referenced above.