Solid Outlook as Rent Growth to Offset Rising Costs of Debt and Vacancies

For over 20 years, BWP Trust has consistently applied a strategy of generating rental income from long duration leases over warehouse properties predominantly tenanted by home improvement retail business, Bunnings. Although BWP Trust is proposing to transition some Bunnings Warehouse stores to alternative uses, strategy is to have 80%-90% of rental income from Bunnings. Wide-moat Wesfarmers owns 100% of Bunnings and 23% of BWP Trust, and is the trust's responsible entity.