360 Capital REIT (ASX:TOT), an ASX-listed real estate investment trust that focuses on selective and disciplined property investments to generate consistent distributions, has announced the finalisation of two significant lease agreements for its property at 510 Church Street, Cremorne, Victoria. These leases, previously announced as Heads of Agreement (HOA) at its HY26 Results, now convert into binding terms, further stabilising the REIT’s portfolio and income streams.
The finalised agreements include a five-year lease with Siemens Energy for 1,269 square metres on Level 2, commencing on 1 October 2026, featuring fixed 3.75% annual rent reviews. Additionally, Stack Infrastructure has committed to a five-year lease for 1,039 square metres on Level 6, commencing 1 July 2026, with fixed 4.0% annual rent reviews. Critically, the Stack Infrastructure lease addresses space previously due to be vacated by Dentsu in August 2026, effectively preventing any downtime or the need for capital expenditure for this tenancy. The Fund also anticipates receiving Dentsu’s lease surrender payment in the 2027 financial year.
Following these new agreements, the 360 Capital REIT portfolio is now 96.7% occupied by income, boasting a weighted average lease expiry (WALE) of 6.0 years by income as at 31 March 2026. The only remaining vacancy across the portfolio is 1,332 square metres on Level 2 at 510 Church Street, Cremorne, which the Fund is actively marketing for lease. Management notes that once this final vacancy is leased, the Fund will have no further expiries until the 2029 financial year, underscoring the enhanced stability and long-term income visibility of its assets.
