FINANCIAL REPORT
        
        
          Financial statements
        
        
          31
        
        
          OVERVIEW
        
        
          About us
        
        
          1
        
        
          Investment approach
        
        
          2
        
        
          2015 Highlights
        
        
          3
        
        
          Letter from the Chairman 4
        
        
          BUSINESS REVIEW
        
        
          Financial summary
        
        
          5
        
        
          Managing
        
        
          Director’s report
        
        
          6
        
        
          Outlook
        
        
          10
        
        
          Our property portfolio
        
        
          12
        
        
          Sustainability
        
        
          18
        
        
          GOVERNANCE
        
        
          Board of Directors
        
        
          20
        
        
          Corporate governance 23
        
        
          INVESTOR INFORMATION
        
        
          Investor information
        
        
          56
        
        
          Directory
        
        
          57
        
        
          CONTENTS
        
        
          BWP TRUST
        
        
          ARSN 088 581 097
        
        
          RESPONSIBLE ENTITY
        
        
          BWP Management Limited
        
        
          ABN 26 082 856 424
        
        
          AUSTRALIAN FINANCIAL SERVICES LICENCE
        
        
          No. 247830
        
        
          bwptrust.com.au
        
        
          IMPORTANT NOTICE
        
        
          This report contains statements regarding the future
        
        
          (“forward looking statementsâ€) and statements of belief or
        
        
          opinion (“assumptionsâ€). Words such as “believeâ€, “considerâ€,
        
        
          “couldâ€, “expectâ€, “estimateâ€, “likelyâ€, “mayâ€, â€objectiveâ€, “shouldâ€,
        
        
          “planâ€, “targetâ€, and other similar expressions are intended to
        
        
          identify forward-looking statements or assumptions. While
        
        
          due care and attention has been used in preparing this report
        
        
          and the information it contains, forward-looking statements
        
        
          and assumptions are not guarantees of future performance or
        
        
          outcomes. Forward-looking statements and assumptions involve
        
        
          known and unknown risks, uncertainties and other factors, many
        
        
          of which are beyond the control of the responsible entity and
        
        
          which may cause actual performance and outcomes to differ
        
        
          materially from those expressed or implied by the statements.
        
        
          Before making an investment decision or acting on the information
        
        
          in this report, you should make your own enquiries and seek your
        
        
          own professional advice as to the application of the information
        
        
          provided in this report to your particular investment needs,
        
        
          objectives and financial circumstances.