BWP Trust

BWP: XASX (AUS)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	A$6.20	Qgzbr	Tdrgnpq

BWP Proving Highly Resilient to the Coronavirus

Adrian Atkins

Nov 30, 2020

Business Strategy and Outlook

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 one home improvement retail business: Bunnings. Although BWP is proposing to transition some Bunnings Warehouse stores to alternative uses, strategy is to have 80% to 90% of rental income from Bunnings. Wide-moat Wesfarmers owns 100% of Bunnings and 25% of BWP, and is the trust's responsible entity.

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United States