Dexus Convenience Retail REIT
Financial advisers, Direct, Wholesale and Institutional Investors
All data as at
About
Dexus Convenience Retail REIT is a listed Australian Real Estate Investment Trust (ASX code: DXC) that wholly owns a portfolio of service station and convenience retail assets located across Australia concentrated on the eastern seaboard. The portfolio is leased to high-quality tenants on attractive, long-term leases. The objective of the REIT is to provide investors with sustainable and stable income and the potential for both income and capital growth through annual rental increases.
DXC’s a portfolio of convenience retail assets are located in Queensland, New South Wales, Western Australia, South Australia and Victoria.
Why invest in this fund?
DXC 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 8.8 years
- A portfolio diversified by geography and tenant
- Significant growth opportunity through contracted annual rent increases in all leases and a targeted acquisition strategy and
- Access to the people and capabilities of Dexus
Fund facts
Number of properties | 100 |
portfolio valuation | $741m |
Weighted average cap rate | 6.40% |
occupancy | 99.7% |
WALE | 8.8yrs |
Gearing | 32.9% |
ARSN |
Convenience Retail REIT No. 1 (ARSN 101 227 614) |
All data as at 30 June 2024.
How to invest
Dexus Convenience Retail REIT is quoted on the Australian Securities Exchange under the following code:
Listed property fund | Dexus Convenience Retail REIT |
ASX Code | DXC |
To invest in this Fund, you can purchase securities through a stockbroker or online broking facility. If you need assistance in setting up an account to trade, you may wish to refer to ASX Customer Service on 131 279 or visit their website.
A partnership with Dexus
With four decades of expertise in real estate and infrastructure investment, funds management, asset management and development, Dexus has a proven track record in delivering for investors. Today we manage a high-quality Australasian real assets valued at $54.5 billion, with a $16.1 billion development pipeline providing the opportunity to both grow portfolios and enhance future returns.
Through our active approach to management and investing, we are positioned to drive long-term performance for our investors and capital partners across Office, Industrial, Retail and Growth Markets, which includes Infrastructure, Healthcare, Alternatives and incubates new sectors and strategies.
Real asset investing
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From wind farms, airports and student accommodation to industrial warehouses and shopping centres, Dexus's accessible and diverse range of investment options provide investors with direct exposure to quality Australasian real estate and infrastructure assets. Our focus on owning and actively managing a range of real assets like these, provide real diversification benefits and with less volatility than equities, enhances risk-adjusted returns for income-oriented investment portfolios.
Responsible Entity Board of Directors
Jennifer Horrigan
BBus, GradDipMgt, GradDipAppFin, MAICD
Independent Chair
Jennifer has been an Independent Director since 2012 and the Chair since 2022. Jennifer is also a Member of the Audit, Risk & Compliance Committee.
Ms Horrigan is an experienced non-executive director across ASX, unlisted and not-for-profit boards. She brings a diverse set of skills with executive experience across investment banking, investor relations and financial communications, including as Chief Operating Officer of independent investment bank Greenhill Australia (previously Greenhill Caliburn) and Co-Founder and Managing Partner of Savage & Horrigan, an Ogilvy company.
Jennifer is an independent director of Dexus Capital Funds Management Limited and Dexus Capital Investment Services Pty Limited, a non-executive director of Yarra Funds Management Limited and a patron of Redkite (national children's cancer charity). She has previously served as a non-executive director of A2B (ASX:A2B), QV Equities (ASX: QVE) and Generation Healthcare (ASX:GHC).
Jonathan Sweeney
BCom, LLB, CFA, GAICD
Independent Director
Jonathan was appointed an Independent Director in 2022 and is a Member of the Audit, Risk & Compliance Committee.
Mr Sweeney has over 35 years’ experience in the investment management, fiduciary, real estate and financial services sectors having held senior executive roles at Folkestone and the Trust Company Limited. Jonathan is Chair of BT Financial Group, and Chair of Perpetual Private’s Investment Committee and a member of the Noongar Boodja Trust’s Investment Committee. He was previously a director of EP&T Global (ASX: EPX), 8IP Emerging Companies Limited (ASX:8EC), Velocity Rewards Pty Limited, Tennis NSW and Easton Investments (ASX: EAS).
Danielle Carter
BA/BCom, Grad Dip AppFin,CA,GAICD
Independent Director
Danielle was appointed an Independent Director in 2022 and is a Member of the Audit, Risk & Compliance Committee.
Ms Carter has over 25 years’ experience in real estate, financial services and property funds management having held senior executive roles at Blackrock, SG Hiscock & Co and Strategic Financial Management. Danielle is also a non-executive director of BWP Management Limited, the responsible entity of BWP Trust (ASX: BWP) and was previously a non-executive director of APN Property Group Limited (ASX: APD).
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Emily Smith
BCom, GAICD
Independent Director
Emily was appointed as an Independent Director in 2022 and is the Chair of the Audit, Risk & Compliance Committee.
Ms Smith has over 20 years’ experience in the finance sector having worked in senior executive roles at Deutsche Bank AG and Credit Suisse. She has had significant exposure to key sectors including building materials, steel, diversified industrials, REITs and telecommunications both domestically and globally.
Emily is a Senior M&A Advisor and Managing Director at Grant Samuel. She is a member of Chief Executive Women and was a Council Member of the Kambala Girls School. She is also a Graduate of the Australian Institute of Company Directors.
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Melanie Bourke
BCom, MBA (Exec), CA, GAICD
Executive Director
Melanie was appointed an Executive Director in 2024.
Ms Bourke is the Chief Operating Officer (COO) at Dexus where she is responsible for supporting business activity and enhancing decision efficiency across the group. Melanie leads the Risk, Real Estate Services & Procurement, Legal, Compliance & Governance, Corporate Affairs & External Communications, Marketing, Technology and Sustainability functions, as well as leading the Strategic Delivery Office.Melanie has more than 20 years of experience in the property industry, working across Finance, Investor Relations, Office of the CEO, Asset and Property Management in Dexus’s Office division and most recently led the people and culture function.
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Brett Cameron
LLBA/BA (Science and Technology), GAICD, FGIA
Alternate Executive Director for Melanie Bourke
Brett was appointed as alternate Executive Director in 2022.
Mr Cameron is General Counsel and Company Secretary at Dexus and is responsible for the legal function, company secretarial services and compliance and governance systems and practices across the Group. He is also the Company Secretary of DXAM.
He has an extensive background is real estate structuring and operations, funds management, mergers and acquisitions, private equity and corporate finance across a number of industries. Brett has has legal counsel roles in-house and in private practice in Australia and in Asia with over 22 years' experience gained in organisations including Macquarie Real Estate (Asia), Macquarie Capital Funds and Minter Ellison.
Fund Manager
Jason Weate
Fund Manager
MAppFin, BBus
Jason Weate joined Dexus in June 2022 as the Fund Manager of Dexus Convenience Retail REIT, and has over 15 years of experience within the property industry and equity capital markets.
He has held multiple roles across corporate strategy, investment management, development management, equities research and previously held senior roles at Stockland and Deutsche Bank.
Jason holds a Master of Applied Finance from Macquarie University and Bachelor of Business (Property) from Western Sydney University.
Contact us
For more information on investing with Dexus, please contact us below.
Dexus retail investor enquiries
Dexus institutional investor enquiries
Media enquiries