This article is from the Australian Property Journal archive
BUNNINGS Warehouse Property Trust’s main tenant, Bunnings Group Limited, has asked for additional options to extend its leases at 15 properties.
Meanwhile negotiations are well advanced on a proposed transaction in relation to 35 of the 53 Bunnings Warehouses that BGL leases from the trust.
The proposed transaction will extend the current term that BGL is committed to lease 34 of the properties by an average of 6 years and will extend BGL’s tenure over 35 of the properties by an average of 6.3 years.
This would increase the current term or weighted average lease expiry of the trust’s entire portfolio of 60 properties by 3.7 years, compared with a reported WALE of 5.9 years at December 2009.
Australian Property Journal
