RF Corval

RF Corval is thrilled to advise that after welcoming three new tenants in the first half of 2024, Bundall Corporate Centre is now fully leased. The deals struck reflect the 'flight to quality' trend in the market, and are testimony to the ongoing demand for high quality, well located space. Despite office vacancy rates nationally remaining flat into 2024, the Bundall Corporate Centre has continued to attract and retain our wonderful tenants. Bundall Corporate Centre was acquired by the Corval Corporate Centre Trust in 2017 along with the Wyndham Corporate Centre, an on-site fitness centre and on-grade parking facility for 899 cars. The Trust’s strategy has centred on strategic capital expenditure and leasing the vacant area across the property, driving a significant value uplift that saw the sale of the Wyndham Corporate Centre in 2023 for a record price. The Gold Coast office market is one of the strongest performing office markets nationally with vacancies falling to 6.4% in January 2024. With no new supply forecast for entry into the core market until 2027, we expect leasing fundamentals will remain favourable for landlords. Con Tsioulos | Benn Vicic | Carina Shepherd | Jake Bagatella | Natasha Oryl | Philippa Duncanson | Tania Moore | Katrina Barnfield

RF Corval is pleased to announce the appointment of Allegra Bauchinger to the role of Development Manager. Allegra brings with her ten years’ experience working as a Project and Development Manager in the construction and property industries. With a proven track record of successfully delivering complex, large-scale developments from conception to completion, Allegra will add invaluable expertise to our development projects, starting with our 20 hectare glasshouse project under construction in Tongala, Victoria. We are delighted to welcome Allegra to the RF Corval team.

2 Corporate Court, the remaining asset owned by our Corporate Centre Trust, has been featured as a case study in the Barriers to Building Energy Performance report issued by the Department of Climate Change, Energy, the Environment and Water. The report analysed the performance of commercial buildings with below average energy performance ratings to identify drivers and barriers faced by building owners, managers, and assessors when improvements are being considered. On acquisition, the Corporate Court was sitting at a 1.5-star NABERS energy rating – RF Corval identified this as a significant opportunity to add value to the asset and drive investment performance. A considered capital expenditure program involved upgrading lighting to energy efficient LEDs, installing a new water cooled, multi-compressor chiller, replacing lifts with regenerative drives and upgrading the buildings air handling units as well as the introduction of ongoing energy monitoring and tracking initiatives. As a result, the building achieved a 5-star rating in 2022. This has been a significant factor in executing our leasing strategy, and in so doing, driving the value of the asset for investors. RF Corval have made a commitment to certify managed assets as Carbon Neutral by 2030 - Not only is this good for the environment, it has a positive impact on our tenants and the communities our assets are located in, and drives long term value for our investors. You can access the full report below Con Tsioulos | Benn Vicic | Philippa Duncanson | Natasha Oryl | Jake Bagatella | Fizzah Salahuddin | Tim Nation | Katrina Barnfield | JLL

RF CorVal have now completed the installation of a 185 kilowatt solar PV system at 40 Cameron Avenue, Belconnen, which is one of the largest solar installations for a Canberra office building. Steve Castell, Principal Consultant at environmental consultants DeltaQ Pty Ltd said “The generated electricity from the 330 solar panels will power base building plant & equipment and common area services, and generate 236,000kWh per year, which is equivalent to running approximately 40 homes in ACT. The solar will also uplift the buildings NABERS Rating by up to 0.35 stars.” Benn Vicic, Head of Strategic Commercial Projects at RF CorVal said “this installation is just one of the environmental initiatives being undertaken at the property and across our portfolio to ensure our assets are future proofed and enhance the building experience for our tenant customers, in line with our vision to have a have a positive impact on the assets that we acquire and manage, and the communities in which those assets are located. We thank our project partners, environmental consultants and project managers DeltaQ Pty Ltd, local ACT solar installation company SolarHub, and managing agents CBRE Asia Pacific for designing and delivering a game changing sustainability project at the property.” Benn Vicic | Con Tsioulos | Philippa Duncanson | Jake Bagatella | Natasha Oryl | Carina Shepherd | Fizzah Salahuddin

We are pleased to announce the completion of the acquisition of 26 & 28 Honeysuckle Drive, Newcastle, New South Wales. Located in Newcastle’s prime office precinct, these two high quality office assets provide 9,432 sqm of NLA and a diversified income from corporate and government tenants. The buildings also boast strong ESG credentials as well as 165 on-site car spaces and market leading end-of-trip facilities. RF Corval’s CIO Oliver Picone explains the appeal ”We have been selectively bidding on office assets as vendors become more realistic, with higher entry yields acting as a reset to the market, providing a more attractive entry point. Importantly we are seeing the reemergence of value looking forward. The attraction of 26 & 28 Honeysuckle is the strong existing tenancy profile, high yielding nature of it and ability to add value through active asset management.” We have a strong track record of adding value to these types of assets over time through targeted capital expenditure and active asset management focused upon leasing. Oliver Picone | Gareth Dingle | Sarah Marsh | Sanjeev Sahota | Tim Nation | Anna Cruse | Jimmy Byrne | Elva Steyn | Peter Macadam | James Girvan | Matthew Meynell | Catherine Scott

Our team are at the #FAAARoadshow24 at the Adelaide Convention Centre today. They will be discussing all things Corval, including our flagship fund, the RF Corval Property Fund, which provides a single point of access to our active investment style by investing in a portfolio of Australian property diversified across geography, asset class and tenant. If you are attending, they’d love the chance to meet with you. Financial Advice Association Australia (FAAA) | Sanjeev Sahota | Elva Steyn | Jimmy Byrne | Anna Cruse

Underlining the continued strength in the Australian urban industrial sub-sector, the RF Corval Industrial Infill Trust is delighted to announce the leasing of Unit 2 at 73-85 Carroll Road Oakleigh South to Hexacon Construction. The RF Corval team are delighted to welcome Hexacon Construction as a customer. The unit was leased with no downtime, and Hexacon will be investing in the tenancy to further enhance the space. The Industrial Infill Trust has built a diversified portfolio of industrial assets in supply constrained, urban locations across all Australian mainland capital cities. Strong occupier demand and low vacancy has seen sustained rental growth, and with this new lease, the Trust’s portfolio is currently 100% occupied delivering robust and growing income to the Fund’s investors. Jake Bagatella | Gareth Dingle | Michael Hua | Con Tsioulos | Benn Vicic | Carina Shepherd | Natasha Oryl | Philippa Duncanson

Workzone East has been recognised as the 2024 platinum Waterwise Building winner. The #WaterwiseAwards are provided by Water Corporation and the Department of Water and Environmental Regulation to recognise buildings that excel in their water conservation. This recognition is another feather in Workzone’s cap, having achieved a 6 star NABERS Energy rating and becoming the first carbon-neutral commercial building in West Australia. A five-year sustainability roadmap was created for this building, focussed on improving performance in energy and water efficiencies, indoor environment quality and waste reduction. As part of a goal to reach a net zero target in 2025, we replaced the gas boilers with an energy efficient heat pump system for the end-of-trip facilities which saves around 70% of energy consumption. 99kW PV solar panels on the roof space were commissioned in 2023, providing 150,000 kWh of renewable energy per annum for the base building system. These initiatives, amongst others, have reduced energy intensity by 57%, saved over 1.1million litres of water, increased recycling rates to 73% and abated 105 tonnes of CO2 per year. Water Corporation | Con Tsioulos | Benn Vicic | Philippa Duncanson | Natasha Oryl | Jake Bagatella | Carina Shepherd | Janitha Kaushal MRICS | Dianna Le

Our herb garden at 54 Waterloo Road, Macquarie Park has flourished since it was planted late last year. Not only does this lovely greenery activate the outdoor space, but tenants are also able to collect fresh herbs to enjoy with their lunches or to take home. Just another small way we can provide engaging environments for our tenants and their staff. Carina Shepherd | Benn Vicic | Con Tsioulos | Natasha Oryl | Jake Bagatella | Philippa Duncanson

We are thrilled to welcome Toby's Estate to 33 Longland Street, Newstead.