BWP Trust (the Trust) is an Australia-based real estate investment trust, which is engaged in investing in and managing commercial properties throughout Australia. The Trust’s objective is to provide unitholders with a secure and growing income stream and long-term capital growth. The Trust’s properties are large format retailing properties, in particular, Bunnings Warehouses, leased to Bunnings Group Limited (Bunnings). Bunnings is a retailer of home improvement and outdoor living products in Australia and New Zealand, and a supplier to project builders, commercial trades people, and the housing industry. The Trust is an owner of Bunnings Warehouse sites in Australia, with a portfolio of 61 stores. Seven of the properties have adjacent retail showrooms that the Trust owns and are leased to other tenants. The Trust also owns six large format retail showroom properties, three industrial properties and has three vacant properties.