As one of Australia’s largest institutional fund managers, QIC has during the past 25 years acquired and developed a substantial portfolio of dominant regional shopping centres and CBD commercial buildings.
We have headquarters in Brisbane, Queensland, and our Australian real estate portfolio comprises assets in Queensland, Victoria, New South Wales, South Australia, Australian Capital Territory and Western Australia.
We utilise a diverse range of products and services to support the development and management of our assets. As a signatory to the UNPRI, we manage our supply chain to account for ESG factors in our procurement processes and decisions.
QICGRE continues to be considered by our clients as one of Australia’s leading real estate investment managers, as consistently supported by external surveys on unlisted property managers.
Fund performance continues to be solid with many QICGRE Funds outperforming benchmarks. QIC’s global real estate portfolio was valued at in excess of $18.9 billion as at June 2017.
For more details on our performance, please refer to the QIC Annual Report 2017.
This report covers the physical assets owned and/or managed by QICGRE in Australia, encompassing those relevant properties held under the QIC Property Fund, QIC Shopping Centre Fund, QIC Active Retail Portfolio Fund, QIC Government Office Fund and QIC Australian Core Plus Fund.
100% of reportable assets included in this report are based in Australia, with information correct as at 30 June 2017.
The QIC Property Fund (QPF) and QIC Shopping Centre Fund (QSCF) were established with a clear objective to outperform benchmarks by delivering sustainable income and capital returns, and by adopting a sector-specific strategy to invest in dominant retail real estate assets that generally comprise the following attributes:
Central to our active management approach of the retail portfolio shared by these two funds is a significant asset creation strategy aimed at transforming our centres into integrated lifestyle, retail and entertainment destinations.
QPF also maintains a residual exposure to existing high-grade office assets which continue to be tactically managed, including development and disposition.
Across the portfolio our asset management and operational teams are continually looking for ways to integrate ESG into their daily work. Our commitment also extends to the delivery of our asset creation projects, which focus on ensuring our local communities share in the socio-economic benefits each project delivers.
The QIC Active Retail Property Fund (QARP) is a portfolio of supermarket anchored sub-regional and neighbourhood shopping centres and high quality large format retail centres that are dominant, or have the potential to become dominant, in their trade area.
This retail sub-sector has a low exposure to impacts from online sales, and opportunities for growth are targeted through active management, leasing and gradual small scale development.
Established in June 2014, the Fund acquired Marsden Park in August of that year, Hinkler Central in June 2015 and the most recent asset being Domain Central in July 2015.
A number of key ESG initiatives are being considered for this portfolio in order to reach our goal of embedding environmental, social and governance considerations within all of our operational assets.
QIC’s Government Office Fund (QGOF) is a portfolio of five commercial buildings fully occupied by the Queensland State Government and located within the Brisbane CBD.
QGOF provides investors with an attractive return profile, secured by long term leases with fixed annual reviews, and enhanced by active asset and development management.
As these assets stabilise, we are commencing a review of environmental, social and governance considerations, with a range of initiatives currently being considered for implementation in the near future.
The QIC Australia Core Plus Fund (QACPF) is a diverse portfolio of Australian-based retail, commercial and industrial assets. Using an active management approach, QACPF invests in a portfolio of quality Australian real estate assets underpinned by strong core returns through rental income and growth, and repositions assets to capture market opportunity by leveraging QIC’s experience and active management approach.
The individual asset strategies focus on the reinvestment of capital to ensure the portfolio remains relevant to its demographics and catchment area. Further, the Fund remains committed to integrating environmental, social and governance (ESG) principles where appropriate over the long term.