ANNUAL REPORT 2017  |  9 DELIVERING ON STRATEGY The Fund continues to implement its four key growth initiatives to drive long term value creation and sustainable earnings growth 01  ortfolio management P Initiative Optimise and broaden the tenancy mix through proactive leasing, leveraging retailer relationships and delivering operational excellence Outcome The portfolio continues to perform well with high occupancy, positive leasing spreads and low incentives with increased diversification to non-household categories 02  evelopment pipeline D Initiative Identify and deliver value enhancing development opportunities within the existing portfolio Outcome Nearing completion of the repositioning of the former Bunnings tenancy at Sunshine Coast Home and construction on the portfolio’s first child care facility at Cranbourne Home. Achieved 11 development approvals to expand the portfolio 03  onsolidation opportunities C Initiative Selective acquisitions to enhance the Fund’s portfolio and entrench the Fund as the largest pure-play large format retail (“LFR”) landlord in Australia Outcome Acquired Castle Hill Super Centre and Marsden Park Home consolidating the Funds foothold as the largest LFR land lord in Sydney with 43% catchment coverage 04 Potential benefits from zoning & planning reforms Initiative Take advantage of regulatory reforms in zoning and planning regimes for the existing portfolio Outcome Continue to progress long term master planning strategies for three centres with flexible zoning 8  |  AVENTUS RETAIL PROPERTY FUND + Sunshine Coast Home, QLD