Charter Hall Retail Reit · ASX:CQR
Charter Hall Retail Reit — Shareholder Meeting (November 2015)
33 slides from Charter Hall Retail Reit's shareholder meeting presentation, November 2015
Slide 1: Chair's address
Charter Hall Retail REIT Annual Unitholders Meeting 2015 - Chair’s address Charter Hall Retail REIT 2015 Annual Unitholders Meeting Good morning. On behalf of the Board of Directors it is my pleasure to welcome you all to the 2015 Annual Unitholders Meeting of Charter Hall Retail REIT. My name is Jo
Slide 2: Chair's address: Board renewal and vision
Finally, I would like to introduce Ms Sue Palmer. Sue joins the Board as an Independent Director following a search conducted on behalf of the Charter Hall Group and CQR Boards. Sue’s appointment to CQR is consistent with an orderly phase of Board renewal. With the impending retirement of Independ
Slide 3: Chair's address: Leasing, acquisitions and capital management
Key to the active asset management approach that our national retail team of experts take is maintaining strong tenant relationships to optimise tenancy mix through proactive leasing and enhancing the overall shopper experience. This active management approach saw our team complete 122 lease renewal
Slide 4: Chair's address: closing remarks
I would also like to acknowledge Deputy Fund Manager, Philip Schretzmeyer who will be taking on a new role as Group Treasurer of Charter Hall Group, effective from 1 January 2016. I am sure you would agree with me that Phil’s dedication and commitment to the REIT has been outstanding and on behalf o
Slide 5: Charter Hall Retail REIT 2015 Annual Unitholders Meeting
17 November 2015 Charter Hall Retail REIT 2015 Annual Unitholders Meeting
Slide 6: Board of Directors
Board of Directors John John Harkness Harkness Independent Independent Chairman Chairman Alan Rattray-Wood Maurice Koop Sue Palmer David Southon David Harrison Independent Independent Independent Executive Executive Director Director Director Director Director Charter Hall Retail REIT | Annual Unith
Slide 7: Agenda
Agenda 1 Independent Chairman’s Presentation 2 Fund Manager’s Presentation 3 Items of Business 4 Questions John Harkness Scott Dundas Independent Chairman Fund Manager Charter Hall Retail REIT | Annual Unitholders Meeting | 17 November 2015 3
Slide 8: Independent Chairman's Presentation
Independent Chairman’s Presentation
Slide 9: REIT Summary
REIT Summary • Charter Hall Retail REIT (ASX: CQR) is a leading listed real estate investment trust with a portfolio of high quality Australian supermarket anchored shopping centres focused on the non-discretionary end of the retail market • CQR is focused on investing in key markets across Australi
Slide 10: REIT Strategy
REIT Strategy The pre-eminent owner and manager of Australian neighbourhood and sub-regional Goal supermarket anchored shopping centres that optimises returns for our investors Active Enhance Prudent management portfolio quality capital management • Maintaining strong • Value enhancing • Strong and
Slide 11: Sustainability
Sustainability Sustainability continues to be a core part of how we manage risks and enhance value across our business model Priority Key FY16 priorities Product • Leverage cross-divisional collaboration in design and development to optimise efficiencies over the life of our assets • Undertake trial
Slide 12: Fund Manager's Presentation
Fund Manager’s Presentation
Slide 13: Highlights for Financial Year 2015
Highlights for Financial Year 2015 15.2% increase Operating earnings NTA per unit up 5.6% in portfolio value of 29.70 cpu to $3.59 to $2.31 billion Moody’s Baa1 credit Look through Occupancy stable rating assigned to the gearing down at 98.4% REIT 3.6% to 33.6% 1. As at 30 June 2015 adjusted for the
Slide 14: Property Portfolio
Property Portfolio As at 30 September 2015 75 properties $2.3 billion value Occupancy 98.4% GLA 554,300sqm 79 supermarkets 1,784 specialty tenancies Charter Hall Retail REIT | Annual Unitholders Meeting | 17 November 2015 10
Slide 15: Portfolio Update
Portfolio Update As at 30 September 2015 Portfolio well positioned to continue to deliver a secure and growing income stream • Occupancy remains at 98.4% • Specialty MAT Growth of 3.0% • Anchor WALE of 10.5 years • Anchor tenant MAT growth of 0.9% • Specialty occupancy cost at 9.1% Pemulwuy Marketpl
Slide 16: FY15 Capital Transactions
FY15 Capital Transactions Capital Recycling • Continues strategy of enhancing the REIT’s portfolio quality by recycling out of non-core properties into larger, higher growth potential properties • Average Australian asset value has increased from $28.6 million at June 2014 to $32.7 million at June 2
Slide 17: Asset Acquisition and Equity Raise
Asset Acquisition and Equity Raise Goulburn Plaza and Katherine Central • The acquisition of Goulburn and Katherine was consistent with CQR’s stated strategy of owning supermarket anchored shopping centres weighted towards non-discretionary retail spending • The acquisition was partially funded by t
Slide 18: Acquisition of Bateau Bay Square
Acquisition of Bateau Bay Square • CQR has executed a conditional contract to acquire a 47.5% interest in Bateau Bay Square, NSW at an implied acquisition price of $200m from the existing Charter Hall Retail Partnership No. 2 (CHRP2) • Located on the central coast of NSW, it provides the dominant su
Slide 19: Redevelopments
Redevelopments Major Current and Completed Projects Enhancing Portfolio Quality Complete – Lansell Square, Vic Complete – Sydney Street Markets, Qld Current – Secret Harbour Shopping Centre, WA Charter Hall Retail REIT | Annual Unitholders Meeting | 17 November 2015 15
Slide 20: Debt Maturity Profile
Debt Maturity Profile Debt Maturity Profile as at 30 September 2015 • Debt maturity profile is now well spread, 300 reducing refinance risk for the REIT 250 • Weighted average debt maturity has increased from 3.7 years in FY14 to 5.8 200 years in FY15, following the debt restructure 150 • USPP was f
Slide 21: FY16 Outlook
FY16 Outlook • We confirm that, barring unforeseen events, the REIT’s FY16 guidance for operating earnings is between 30.25 cents and 30.75 cents per unit • Distribution payout ratio range is expected to be between 90% and 95% of operating earnings Singleton Square, NSW
Slide 22: Items of Business
Items of Business
Slide 23: Procedural Matters
Procedural Matters • If there are any Unitholders who are eligible to vote who have not received their yellow voting card, please see a representative from Link Market Services at the registration desk • Unitholders holding a red card are not eligible to vote but can speak at the meeting • Visitors
Slide 24: Formal Business
Formal Business Voting on each resolution will take place on a poll. Resolution 1 is advisory only and is non-binding for Charter Hall Retail Management Limited (“CHRML”) or the Directors of CHRML. However, the Directors of CHRML intend to give due consideration to the results of this resolution to
Slide 25: Resolution 1
Resolution 1 Ratification of Re-appointment of Independent Director To consider, and if thought fit, pass the following resolution, as an advisory, non-binding resolution of the Unitholders: “That Alan Rattray-Wood, an Independent Director of CHRML be re-elected as a director of CHRML” Charter Hall
Slide 26: Resolution 1 - Proxies
Resolution 1 - Proxies Proxies FOR: 242,869,764 77.8% OPEN: 867,173 0.3% AGAINST: 68,416,901 21.9% ABSTAIN: 1,006,152 Charter Hall Retail REIT | Annual Unitholders Meeting | 17 November 2015 22
Slide 27: Resolution 2
Resolution 2 Approval of issue of Units to Charter Hall Group in connection with the acquisition of a 47.5% interest in Charter Hall Retail Partnership No. 2 Trust, which owns the Bateau Bay Square shopping centre, Bateau Bay, NSW To consider, and if thought fit, pass the following as an ordinary re
Slide 28: Resolution 2 - Proxies
Resolution 2 - Proxies Proxies FOR: 263,891,362 99.4% OPEN: 860,991 0.3% AGAINST: 697,338 0.3% ABSTAIN: 47,710,299 Charter Hall Retail REIT | Annual Unitholders Meeting | 17 November 2015 24
Slide 29: Resolution 3
Resolution 3 Ratification of Institutional Placement To consider, and if thought fit, pass the following as an ordinary resolution of the Unitholders: “That for the purpose of Listing Rule 7.4 and for all other purposes, the issue of 12,437,810 fully paid ordinary Units by Charter Hall Retail REIT a
Slide 30: Resolution 3 - Proxies
Resolution 3 - Proxies Proxies FOR: 199,720,743 98.1% OPEN: 884,429 0.4% AGAINST: 3,048,221 1.5% ABSTAIN: 64,700,179 Charter Hall Retail REIT | Annual Unitholders Meeting | 17 November 2015 26
Slide 31: Questions
Charter Hall OS
Slide 32: Important Notice
Important Notice This presentation has been prepared by Charter Hall Retail Management Limited (ABN 46 069 709 468) (AFS Licence No. 246996) as responsible entity of Charter Hall Retail REIT (CQR). Summary information The information contained in this presentation is a summary overview of the curren
Slide 33: www.charterhall.com
Sydney Head Office Level 20, No.1 Martin Place, Sydney, NSW, 2000 T: +61 2 8651 9000 Melbourne Level 18, 570 Bourke Street, Melbourne VIC 3000 T: +61 3 9903 6100 Brisbane Level 22, Northbank Plaza, 69 Ann Street, Brisbane QLD 4000 T: +61 7 3228 2000 Perth Level 11, St Georges Square, 225 St Georges
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