DGAP-Adhoc: Dexus Finance Pty Limited: Sale of North Shore Health Hub to HWPF

DGAP-Ad-hoc: Dexus Finance Pty Limited / Key word(s): Real Estate 
Dexus Finance Pty Limited: Sale of North Shore Health Hub to HWPF 
 
02-Sep-2019 / 04:24 CET/CEST 
Disclosure of an inside information acc. to Article 17 MAR of the Regulation 
(EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG. 
The issuer is solely responsible for the content of this announcement. 
 
*Dexus (ASX: DXS)* 
 
*ASX release* 
 
*2 September 2019* 
 
*Sale of North Shore Health Hub to HWPF contributes to FY20 and FY21 trading 
profits * 
 
Dexus today announced that it has exchanged contracts to sell the North 
Shore Health Hub, Stage 1 currently under development at 12 Frederick 
Street, St Leonards, which will generate trading profits for Dexus in FY20 
and FY21. 
 
Dexus has sold the property on a fund-through basis to Healthcare Wholesale 
Property Fund (HWPF) and will continue to manage the development for total 
revenue of circa $224 million1. The North Shore Health Hub comprises a state 
of the art healthcare facility across 16,000 square metres with 50% of the 
facility already pre-committed. 
 
Dexus retains exposure to the property via its ownership in HWPF. 
 
The sale is expected to contribute circa $18-22 million2 in trading profits 
pre-tax, which will be realised across FY20 and FY21, with the amount for 
each financial year dependent on the progress of the development and 
leasing. 
 
Darren Steinberg, CEO of Dexus said: "We are pleased to have been able to 
work with HWPF to secure another high quality healthcare asset. Dexus 
retains an exposure to this facility via our interest in HWPF, while 
generating trading profits for Dexus investors." 
 
1 Land will be transferred at fair value, with settlement expected by 
mid-October 2019. The balance of the proceeds reflects the development spend 
under a development management agreement that will be paid across a number 
of fund-through instalments during FY20 and FY21. 
2 Expected trading profit reflects a potential range of assumptions 
regarding leasing and incentive outcomes as well as timing of achieving key 
milestones. 
 
*For further information please contact:* 
 
Investor Relations       Media Relations 
Rowena Causley           Louise Murray 
[phone]          [phone] 
[phone]          [phone] 
[e-mail] [e-mail] 
 
Information and Explanation of the Issuer to this News: 
 
*About Dexus* 
 
Dexus is one of Australia's leading real estate groups, proudly managing a 
high quality Australian property portfolio valued at $31.8 billion. We 
believe that the strength and quality of our relationships is central to our 
success, and are deeply committed to working with our customers to provide 
spaces that engage and inspire. We invest only in Australia, and directly 
own $15.6 billion of office and industrial properties. We manage a further 
$16.2 billion of office, retail, industrial and healthcare properties for 
third party clients. The group's circa $9.3 billion development and concept 
pipeline provides the opportunity to grow both portfolios and enhance future 
returns. With 1.7 million square metres of office workspace across 53 
properties, we are Australia's preferred office partner. Dexus is a Top 50 
entity by market capitalisation listed on the Australian Securities Exchange 
(trading code: DXS) and is supported by 26,000 investors from 19 countries. 
With 35 years of expertise in property investment, development and asset 
management, we have a proven track record in capital and risk management, 
providing service excellence to tenants and delivering superior 
risk-adjusted returns for investors. www.dexus.com 
 
*Download the Dexus IR app* 
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02-Sep-2019 CET/CEST The DGAP Distribution Services include Regulatory 
Announcements, Financial/Corporate News and Press Releases. 
Archive at www.dgap.de 
Language:    English 
Company:     Dexus Finance Pty Limited 
             264 George Street 
             2193 Sydney 
             Australia 
Phone:       [phone] 
Fax:         [phone] 
E-mail:      [e-mail] 
Internet:    www.dexus.com 
ISIN:        XS1961891220 
WKN:         A2RZHG 
Listed:      Regulated Unofficial Market in Frankfurt 
EQS News ID: 866719 
 
End of Announcement DGAP News Service 
 
866719 02-Sep-2019 CET/CEST 
 
 

(END) Dow Jones Newswires

September 01, 2019 22:24 ET (02:24 GMT)