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Welcome to this Insight magazine edition #48.

In this edition, we explore how best to take advantage of property market cycles. We feature insights from Cromwell’s Chief Financial Officer Michelle Dance, and explore the sectors Cromwell will target following the sale of the European fund management platform. Additionally, we take a look at Cromwell’s ESG results following the release of our latest report and provide an overview of parts 3 and 4 of “The Essential Guide to Investing in Unlisted Property.”

You can stay up to date with the latest Cromwell and market updates by signing up to receive Insight via email each month.

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Feature articles Latest news Market updates Quarterly reports

Feature article

Taking advantage of the property cycle

Understanding the property cycle can be useful for investors, as it enables them to make informed investment decisions and stay focused on their long-term goals.

Latest news

Each month, Cromwell consistently makes progress towards our business goals, which means new and exciting announcements for investors. Insight magazine’s latest news section has the most recent Cromwell developments, and more.

Previous news available here.

2024 Tenant Satisfaction Survey Results released

Cromwell launches Christmas community initiatives

Cromwell CFO guides discussion on debt at PCA forum

New barristers’ chambers opens at 400 George Street

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2024 Tenant Satisfaction Survey Results released
Cromwell launches Christmas community initiatives
Cromwell CFO guides discussion on debt at PCA forum
New barristers’ chambers opens at 400 George Street

2024 Tenant Satisfaction Survey Results released

The results of Cromwell’s annual tenant satisfaction survey have been compiled for FY25 – and the feedback has been encouraging.

Future Forma – an agency specialising in the independent evaluation of tenant–customer experiences across individual assets and portfolios – was engaged by Cromwell in August to conduct annual surveys across our commercial assets.

Across the portfolio, Cromwell achieved an overall tenant satisfaction score of 89%. This is a 1.4% increase on last year’s score, and is 8.9% higher than the Tenant Satisfaction Index – which comprises of 350+ investment grade office building surveys throughout Australia.

Data contained in the Future Forma report will allow us to focus on the continuous improvement of our tenant’s workplace experience and create greater efficiencies in the business’s processes.

Cromwell launches Christmas community initiatives

As part of Cromwell’s commitment to providing exceptional experiences for tenant-customers across the assets, we have partnered with two organisations to support communities this Christmas.

Cromwell is proud to support the Children’s Hospital Foundation for the ‘A Wish for Christmas’ initiative. Christmas trees adorned with gift tags have been set up across four of our Brisbane assets. Those wishing to donate can make a $5 contribution to the Foundation, receive a gift tag, and write a heartfelt message of support to sick children across Queensland.

In addition, we have established donation bins for the Salvation Army Christmas Appeal for our NSW, VIC and SA assets. Tenants are encouraged to donate items such as food, children’s toys, gift cards, and more, which will be distributed to families in need during the holiday season. This initiative aims to bring joy and support to those who need it most during Christmas.

Cromwell CFO guides discussion on debt at PCA forum

Cromwell’s Chief Financial Officer, Michelle Dance, was asked to moderate an intriguing panel discussion at the Property Council of Australia Capital Markets Forum 2024 at Crown Sydney in late October.

The topic – ‘Debt: Bank and non-bank lending and global credit’ – examined the place debt now has in several portfolios globally; the risks and opportunities that exist in the debt market; as well as the future of credit.

Panellists Luke Briscoe, Head of Capital and Investor Solutions at Madigan Capital; Cathy Houston, Managing Director Real Estate Credit at MA Financial; and Jeremy Fyfe, Head of Origination NSW/ACT, Qualitas, joined Michelle to discuss how Australian organisations should approach the topic. The panel was extremely well received by the hundreds of forum attendees.

Each year, the PCA Capital Markets Forum brings together domestic and international investors, heads of real estate, heads of capital, fund managers, and portfolio managers from leading property and investor groups in an immersive format to gain fresh perspectives on business.

These works are part of Cromwell’s broader programme of future proofing our assets to meet current and future tenant needs.

New barristers’ chambers opens at 400 George Street

Queensland’s largest barristers’ chambers in more than a decade have opened at Cromwell’s 400 George Street in Brisbane’s CBD – a prime location within a minute’s walk to the nearby court precinct.

The formation of the new George Street Chambers – home to 30 barristers and six readers – was initiated by barrister David de Jersey KC, after lack of office supply meant there had been a significant shortage of chambers available for new and emerging barristers.

Brisbane’s newest chambers covers 1,457 square metres of A-grade office space on Level 29 of 400 George Street.

“With this transaction, George Street Chambers is set to become a cornerstone of Brisbane’s legal fraternity, offering a modern, well-equipped environment that caters to the evolving needs of the city’s barristers and their clients,” said Mr de Jersey.

Each barrister has been able to customise their individual rooms, meaning there is 30 different styles and preferences within the overall design. The chambers also contains a specially designed immersive hearing space, allowing barristers to connect to virtual court hearings via video conferencing.

Market updates

September 2024 direct property market update

Financial markets remained volatile over the quarter, reflecting participants’ keen focus on the outlook for interest rates. A major event during the…

September 2024 quarter ASX A-REIT market update

The S&P/ASX 300 A-REIT Accumulation Index gave up some of its first quarter gains, falling 5.7% in the June quarter. Property stocks underperformed broader…

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Quarterly Fund Reports

As at 30 September 2024.

Cromwell Direct Property Fund

Cromwell Phoenix Property Securities Fund

Cromwell Phoenix Global Opportunities Fund

Cromwell Phoenix Opportunities Fund

Cromwell Property Trust 12

Cromwell Riverpark Trust

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