Fund Profile

as at October, 2007

The Mirvac PFA Diversified Property Trust is a listed Australian unit trust which owns a portfolio of quality Australian properties currently valued at approximately $653 million.

Scheme Details

REGISTERED NAME   Mirvac PFA Diversified Property Trust ARSN 097 860 690
     
INVESTMENT TYPE   Bendigo Stock Exchange (“BSX”) listed property trust
     
BSX CODE   PFD
     
ESTABLISHED   July 2003.
The Trust evolved as a consequence of the amalgamation on 1 July, 2003 of all of the property funds managed by Mirvac PFA Limited (formerly Property Funds Australia Limited).
     
DISTRIBUTIONS   Monthly by electronic funds transfer.
     
LIQUIDITY   Units can be traded on the BSX.
     
NO. OF CURRENT INVESTORS   Approximately 4,000 investors.
     
PORTFOLIO DETAILS  
•   $682 million in property assets over 20 properties;
     
•   Gross revenues of approximately $58.6M per annum;
     
•   A strong 6.4 year weighted average lease expiry;
     
•   A balanced lease expiry profile;
     
•   A 98.2% occupancy rate;
     
•   86% (approx.) leased to national or government tenants;
     
•   202,416m2 of net lettable area
     
•   Sound diversification particularly by reference to sector and tenants.
     
MAJOR TENANTS   PBL, Foxtel, IAG, AAPT, Country Road.
     
RESEARCH   AA Rating - PIR Independent Research Report
(July 2007)
Upper Recommended - Lonsec Property Research
(July 2007)
     
PURCHASE OF UNITS  

A product disclosure statement is not currently available.
Units can also be purchased on the BSX.
To buy or sell BSX listed securities, you will need to use the services of a BSX broker.

     
FORECAST DISTRIBUTIONS  

9.80¢ per unit per annum* for the year ending 30 June 2008.

2.88¢ per unit special distribution paid 14 September 2007
     
TAX BENEFITS   71%** of the forecast distributions are expected to be tax deferred to 30 June 2008.
     
PERFORMANCE
Year Ending 30/6/2007
  

9.80¢ per unit per annum; 61.48% tax deferred.
5.26¢ per unit special distribution paid 14 March 2007.
15.06¢ per unit for those investors who held units throughout 2006/07 financial year.
     
Year Ending
30/6/2006		  

9.48¢ per unit per annum; 73.6% tax deferred.
6.76¢ per unit special distribution.
16.24¢ per unit for those investors who held units throughout 2005/2006 financial year.
     
Year Ending 30/6/2005   9.48¢ per unit per annum; 69.0% tax deferred
     
Year Ending 30/6/2004   9.48¢ per unit per annum; 78.9% tax deferred


*  

The forecast distributions and related underlying assumptions are set out in detail in section 6.2 of the Product Disclosure Statement dated 8 June 2007.

Please click here to view a copy of the PDS. Please note this PDS is closed to investment.

     
**  

For further information in relation to the tax deferred percentage please see section 6.2 Note 12 of the Product Disclosure Statement dated 8 June 2007.

Please click here to view a copy of the PDS. Please note this PDS is closed to investment.


Property   State   Sector   Independent
Valuation ($M)		  

% of Portfolio Value
The Homeworld Centre
Cnr Anketell St & Soward Way, Tuggeranong		   ACT   Retail/
Commercial		   34.7   5
Civic Tower
66-68 Goulburn Street, Sydney		   NSW   Commercial   68.7*   11
The Octagon
110 George Street, Parramatta		   NSW   Commercial   39.0*   6
706 Mowbray Road, Lane Cove   NSW   Commercial/
Industria		   29.3   5
657 Pacific Highway, St Leonards   NSW   Commercial   19.1   3
The Riverdale Centre
49-65 Macquarie Street, Dubbo		   NSW   Retail   15.8   2
Anzac Square Offices
200 Adelaide Street, Brisbane		   QLD   Commercial   37.0   6
Cairns Hypermart
101-103 Spence Street, Cairns		   QLD   Retail/Industrial/
Commercial		   25.5   4
180 Queen Street, Brisbane   QLD   Retail/
Commercial		   25.5   4
The Precinct
41 Harries Road, Coorparoo		   QLD   Commercial/
Retail		   18.0   3
Centro on James – Stage 3
39 James Street, Fortitude Valley		   QLD   Retail/Leisure/
Commercial		   17.9   3
544 Kessels Road, Macgregor   QLD   Retail/Industrial   17.7   3
390 St Kilda Road, Melbourne   VIC   Commercial   63.3   10
Citigate Melbourne
270-272 Flinders Street, Melbourne		   VIC   Hotel   34.0   5
The Lands Building
134 Macquarie Street, Hobart		   TAS   Commercial   35.0   5
Foxtel Building
1-21 Dean Street, Moonee Ponds		   VIC   Commercial   28.5   4
AAPT Centre
180-188 Burnley Street, Richmond		   VIC   Commercial   17.5   3
Citigate Perth
707 Wellington Street, Perth		   WA   Hotel   52.0   8
Sevenoaks
303 Sevenoaks Street, Cannington		   WA   Commercial   52.0   8
33 McDowell Street, Welshpool   WA   Industrial   9.8   2
TOTAL       $640.3   100


* The value of the Trust's 50% interest is shown.

This information is current as the date of its publication in March 2008 but may be subject to change.  It should not be construed as investment or financial advice, and should not be relied upon as a substitute for professional advice.  For full information on the Mirvac PFA Diversified Property Trust please refer to the Product Disclosure Statement available by calling 1800 687 170.  Although we consider the sources for this material reliable and we have prepared it with care and good faith, no warranty is given and no liability is accepted by Mirvac PFA Limited or any other affiliated companies for any statement or opinion or for any error or omission.

Latest News

18 November 2008
November Distribution and Record Date

7 November 2008
September Quarterly Update

20 October 2008
Distribution and Record Dates Announced.

30 September 2008
Mirvac PFA Annual Report 2008