Waypoint REIT Overview
Pro stress-test →Waypoint REIT is Australia's largest listed REIT owning solely fuel and convenience retail properties with a high-quality network across all Australian States and mainland Territories. The company owns a AUD 3 billion portfolio of service station properties across Australia. The business is highly concentrated, with the vast majority of rental income coming from ASX-listed Viva Energy Group Ltd.
Strategic Profile
Pro stress-test →The REIT benefits from resilient rental income, with long-term lease extensions with major tenant Viva Energy Australia set to increase aggregate rent from August 2026. Around 90% of leases are 'triple net' where the tenant pays all property outgoings, with a WALE (weighted average lease expiry) of nine years. Management is internal.
Competitive Landscape
Pro stress-test →Waypoint competes in the Australian listed REIT space with few pure-play fuel and convenience retail competitors. The portfolio of approximately 400 service station properties is mainly leased to Viva Energy. The niche specialization as Australia's only listed REIT solely focused on fuel/convenience retail provides differentiation, though tenant concentration limits competitive positioning options.
Industry Context
Waypoint REIT operates in Real Estate Investment Trusts (REITs) - Retail Fuel & Convenience.
Key facts
Headquarters: Sydney, Australia · Revenue: A$162.6M · Market cap: A$1.77B