Investments

Property Investments

Portfolio Overview

Schaffer Corporation commenced investing in property in 1994.  The Group’s property investments now include a diverse portfolio of syndicate investment properties, property development projects, and wholly owned/operated properties.

The portfolio includes South Connect Industrial Estate – a 34 hectare wholly-owned light industrial development at Jandakot, Western Australia,  a bulky goods centre in Rockingham, Western Australia and various syndicated interests in commercial, industrial, hotel, retail and residential properties across Australia and the United States.

Key Properties

SouthConnect scaled Property Investments 13

South Connect Logistics Estate, Jandakot

Schaffer Corporation owns a strategic property at Jandakot, Western Australia, with approximately 34 hectares of developable land.  The site is located between two freeways and 15 minutes south of Perth CBD. The overall site has substantial development potential.  The Western Australian Minister for Planning approved a Scheme Amendment in November 2017, which was formally gazetted in February 2018, to increase the scope of Additional Uses to allow Warehouses, Showrooms, Masonry Production and Nurseries over approximately 39 hectares.  Civil works on the remainder of the developable area are expected to be completed in the first quarter of FY24.

BeachsideFeb2022 3 1 scaled Property Investments 15

Bennett Avenue, North Coogee

Schaffer Corporation, through its 83.17% owned subsidiary Gosh Capital Pty Ltd, owns land in North Coogee that was previously used to accommodate the Gosh Leather manufacturing facility. The site has been zoned high density residential from industrial and can accommodate approximately 175 dwellings.  The approved subdivision is a combination of 2 to 3 storey small individual lots and 3 to 5 storey apartment sites.

39DixonRoadJune2020 10Aerial RTM scaled Property Investments 17

39 Dixon Road, Rockingham

Schaffer Corporation, via its 83% owned subsidiary Gosh Capital Pty Ltd, owns a bulky goods shopping centre in Rockingham, Western Australia.  The site is currently fully tenanted.

Property Portfolio: Summary of Pre-Tax Net Equity Value ($m)
FY18FY19FY20FY21FY22FY23FY24
Properties used by SFC Operations11.411.49.79.79.710.110.1
Jandakot - South Connect37.237.245.245.265.065.382.1
Jandakot leased to Brickworks11.211.212.212.215.515.519.8
Jandakot Development 26.026.033.033.049.549.862.3
Property - Rental Income 26.328.836.745.748.251.1151.9
- Retail/Bulky Goods16.214.416.421.425.625.827.4
- Industrial15.314.617.018.119.119.23.8
- Office5.25.68.310.59.39.79.7
- Hotels0.84.05.43.84.06.15.3
- Residential0.01.41.84.25.75.85.7
Property - Development 14.916.413.214.115.915.011.6
- Residential - Development 11.512.210.011.010.911.07.5
- Industrial - Development 3.44.23.23.15.04.04.1
Sub Total: Property89.993.8104.8114.7138.8141.4155.7

* Pre-Tax Net Equity Value is SFC’s share of market value less debt (including syndicate property debt)

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