Wereldhave N.v. · EURONEXT:WHA
Wereldhave — Investor Presentation (April 2014)
46 slides from Wereldhave's investor presentation, Apr 15, 2014
Slide 1: Dutch Property Tour
Dutch Property Tour April 15, 2014
Slide 2: Content
Content 1. Introduction 2. Positioning ‘Natuurlijk Dichtbij’ 3. Targets 2014 – 2015 4. Integrated plan Wereldhave Netherlands 2
Slide 3: 1. Introduction
1. Introduction Belinde Bakker Pieter Polman Managing Director Wereldhave Netherlands (04-2013) Manager Leasing (2014) Founder & partner ACTM (2009 – 2013) Leasing manager – Wereldhave (2011 – 2013) Sr. Manager Concessions & Media Amsterdam Airport Consultant Retail Services – DTZ Zadelh
Slide 4: Dutch organisation structure
Dutch organisation structure Managing Director Belinde Bakker HR Secretariaat Annelieke Blom Legal Finance Helen Kasteel Raymond Toet Leasing Operations Development Pieter Polman Edith van Heijningen Wouter vd Braak NL organisation Shared with the Group 4
Slide 5: Overview Dutch shopping centre portfolio
Overview Dutch shopping centre portfolio 1. Hoofddorp, Vier Meren 2. Arnhem, Kronenburg 3. Capelle a/d Ijssel, De Koperwiek 4. Winkelcentrum Etten-Leur 5. Purmerend, De Eggert 6. Leiderdorp, Winkelhof 5 1 7. Maassluis, Koningshoek 6 8. Roosendaal, De Roselaar 7 2 9. Eindhoven, Woensel XL 3 10. Geldr
Slide 6: Overview Dutch shopping centre portfolio
Overview Dutch shopping centre portfolio 1. VIER MEREN, HOOFDDORP 2. KRONENBURG, ARNHEM 3. KOPERWIEK, CAPELLE A/D IJSSEL Total n.l.a. (sqm) 33,000 Total n.l.a. (sqm) 34,500 Total n.l.a. (sqm) 25,000 Wereldhave n.l.a. (sqm) 33,000 Wereldhave n.l.a. (sqm) 31,752 Wereldhave n.l.a. (sqm) 25,000 Gross re
Slide 7: 2. Positioning 'Natuurlijk dichtbij'
2. Positioning ‘Natuurlijk dichtbij’ Brand ‘Natuurlijk Dichtbij’ convenience centres From shopping centre towards a shopping centre with a warm heart Connection Provide universal need for social and sustainable connection between individuals and their environment Hospitable & original From a cluster
Slide 8: accessible connecting welcoming
accessible recognizable honest readable connecting unforced intuitive welcoming inviting open spatial clear accessible original familiar lively specific divers warm natural safe light ease happy local creating 8
Slide 9: Domains & materials
Domains & materials 1. Arrival 3. Shopping 2. Reception 4. Linger texture unforced wood specific green lively clear colour warm pattern tiling 9
Slide 10: 3. Targets 2013 - 2015
3. Targets 2013 - 2015 Portfolio 2013 2014 2015 Footfall flat* 2.0 - 5.0% growth 2.0 - 5.0% growth Tenant rotation 5.0% and on target 5.0% Like for like growth -140 bps to index -50 to -100 bps to index Occupancy 97.0% 97.0 - 98.0% Development pipeline Investments €80m (including Capelle a
Slide 11: 4. Integrated plans for Wereldhave Netherlands
4. Integrated plans for Wereldhave Netherlands 1. Key account management 2. Specialty leasing 3. Food and beverage Leasing 1. Rational expansion €80m Develop- 1. Service costs 2. Look & Feel €30m ment Operations 2. Amenities and kids playgrounds 3. Sustainability 3. Intensive contact tenants Marketi
Slide 12: Leasing
Leasing Vier Meren - The Netherlands 12
Slide 13: Leasing Activities 2014
Leasing Activities 2014 Like-for-like growth 0.5 – 1.0% Occupancy rate 97.0 – 98.0% Green leases 75.0% of new contracts in 2016 More attractive Improve tenant “Natuurlijk mix dichtbij” F&B diverse More customers + + Invest Higher footfall Who stay €110m -/- ROI + >5.0% by 2015 longer + + And s
Slide 14: Key accounts per Q1 2014
Key accounts per Q1 2014 Key accounts – based on contract value 1 Ahold 14 V&D 2 Blokker 15 C&A 3 Kruidvat / AS Watson 16 Miss Etam 4 Excellent Retail brands (a.o. MS, Coolcat) 17 Zeeman 5 H&M 18 Media Markt 6 HEMA 19 Dirk vd Broek 7 Macintosh Retail Group 20 The Sting 8 Maxeda 21 Brilmij Groep 9 WE
Slide 15: Specialty leasing
Specialty leasing 2013: €450,000 (1.3%) – Advertising and a few kiosks Target: increase to 2.0% in 2015 15
Slide 16: Food & beverages
Food & beverages 2013 on average 2.0% of sqm within our shopping centres Targets • Increase to max 5.0% of sqm by the end of 2015 (included in the development projects) • Improve quality 16
Slide 17: Operations
Operations Vier Meren - The Netherlands 17
Slide 18: Shopping Center Management Activities 2014
Shopping Center Management Activities 2014 Reduce service costs 10.0% on security and cleaning Amenities & kids’ place present in all our shopping centres by the end of 2015 Increase satisfaction of our customers & tenants More attractive Improve tenant “Natuurlijk mix dichtbij” F&B diverse Mo
Slide 19: Amenities & kids play areas in all our centres by 2015
Amenities & kids play areas in all our centres by 2015 2013 2014 Interactive games Interactive games Arnhem Hoofddorp Leiderdorp Capelle Purmerend Roosendaal Etten-leur Maassluis Playground Playground Maassluis Leiderdorp Arnhem Purmerend Public toilets Public toilets Arnhe
Slide 20: Wereldhave Management Holding BV
20 Wereldhave Management Holding BV
Slide 21: Market research
Market research Gain insight in buying behaviour and needs of customers in shopping centres and in the catchment area of shopping centres MARKET RESEARCH STRATEGY 1. MARKET TRENDS 2. CATCHMENT RESEARCH Research the catchment area (online panel research) - Competition analysis - Potential customer an
Slide 22: Marketing & Innovation
Marketing & Innovation Vier Meren - The Netherlands 22
Slide 23: Marketing & Innovation Activities 2014
Marketing & Innovation Activities 2014 Increase footfall 2.0 – 5.0% in 2014 and 2.0 - 5.0% in 2015 Further develop digital strategy Online, mobile, apps, etc. Social inclusion events More attractive Improve tenant “Natuurlijk mix dichtbij” F&B diverse More customers + + Invest Higher footfall
Slide 24: Footfall Shopping centres in 2013
Footfall Shopping centres in 2013 * Source: Flucon (Index: 43 counting systems) 24
Slide 25: Digital strategy
Digital strategy use online channels to inform, inspire & connect customers and retailers. http://www.youtube.com/watch?v=WWdBuMtciS4 • Shopping Centre website with social media integration • Shop information & special offers placed by retailers (web & app) • Online community for retailers (intranet
Slide 26: Events
Events http://www.youtube.com/watch?v=397Iwe0qYok 26
Slide 27: Development
Development Vier Meren - The Netherlands 27
Slide 28: Development Activities 2014
Development Activities 2014 Rational expansion €80m in 2014 - 2016 Improvement look & feel €30m in 2014 - 2015 Increase sustainability BREAAM ‘Very good’ More attractive Improve tenant “Natuurlijk mix dichtbij” F&B diverse More customers + + Invest Higher footfall Who stay €110m -/- ROI + >5.0
Slide 29: Project Organization
Project Organization 6 projects in own management, 4 outsourced projects In own management Outsourced Arnhem Kronenburg Arnhem Kronenburg - extension Maassluis, Koningshoek Maassluis Koningshoek - extension Etten-leur, Stadshart Capelle, Koperwiek Leiderdorp, Winkelhof Hoofddorp, De Deining Purmer
Slide 30: Purmerend
Purmerend 30 30 Wereldhave Management Holding BV
Slide 31: Current New
Current New Bottlenecks Solutions • Entrances; low visibility, uninviting and very low quality architecture • Upgrading entrances and interior • Interior; dark passages, escalators hardly visible, disorderly and • Introduction 100% route hardly visible shop fronts. • Positioning anchors • Low qualit
Slide 32: Maassluis Koningshoek
Maassluis Koningshoek 32 32 Wereldhave Management Holding BV
Slide 33: Current New
Current New Bottlenecks Solutions •Exterior; introvert architecture, poor entrances •Upgrading entrances and interior •Interior; closed shop fronts, old architecture, no •Upgrading zone plan shopping experience, old shopping streets, low •Positioning anchors shop fronts •New F&B plaza •Plazas withou
Slide 34: Leiderdorp Winkelhof
Leiderdorp Winkelhof 34 34 Wereldhave Management Holding BV
Slide 35: Current New
Current New Bottlenecks Solutions •Entrances; badly visible, uninviting and very low •Creating better and less entrances quality architecture •Upgrading interior •Interior; small and low passages, low shop fronts, •Positioning anchors few natural light •New F&B plaza •Low quality F&B •Improved circu
Slide 36: Roosendaal Roselaar
Roosendaal Roselaar 36 36 Wereldhave Management Holding BV
Slide 37: Current New
Current New Bottlenecks Solutions •Entrances; badly visible, uninviting and very low •Upgrading entrances and interior quality architecture •Improved circulation •Interior; dark, small, low, very basic and outdated •Positioning anchors passages, low shop fronts •New F&B plaza •F&B on wrong places •E
Slide 38: Etten-Leur
Etten-Leur 38 38 Wereldhave Management Holding BV
Slide 39: Current New
Current New Bottlenecks Solutions •Entrances; badly visible, uninviting and very low •Upgrading entrances and interior quality architecture •Extension retail floor space •Interior; passages to spacious, disorderly and •New F&B plaza badly visible shop fronts. •Low quality F&B 39
Slide 40: Kronenburg
Kronenburg 40 40 Wereldhave Management Holding BV
Slide 41: Current New
Current New Bottlenecks Solutions •Interior; low quality of ceiling, not enough light, •Upgrading entrance, interior and shop fronts basic floor, long closed shop fronts and dead ends •Positioning anchors •Low quality F&B •Extension of retail floor space •New F&B plaza •Upgrade library plaza 41
Slide 42: Financial projects overview
Financial projects overview Project name Development cost Additional rent YoC Cost refurbishment Additional (€) (€) (%) (€) sqm Koperwiek 20,000,000 1,200,000 6.0 5,200 Koningshoek 18,000,000 1,180,000 6.6 7,000,000 5,549 Winkelhof 11,500,000 450,000 3.9 7,700,000 2,604 Eggert 10,900,000 440,000 4.0
Slide 43: Finance
Finance Vier Meren - The Netherlands 43
Slide 44: Finance Activities 2014
Finance Activities 2014 Like-for-Like growth 0.5 – 1.0 % in 2014 Debtor control ≤ 1.0% of GRI Detailed project control More attractive Improve tenant “Natuurlijk mix dichtbij” F&B diverse More customers + + Invest Higher footfall Who stay €110m -/- ROI + >5.0% by 2015 longer + + And spend more
Slide 45: Conclusions
Conclusions Vier Meren - The Netherlands 45
Slide 46: Priorities 2014
Priorities 2014 1. Like-for-like growth: 0.5 – 1.0% 2. Occupancy rate: 97.0 – 98.0% 3. Increase in footfall: 2.0 – 5.0% in 2014 4. Realisation of the development- and look & feel projects by the end of 2016 5. Realisation of amenities and kids’ place in all shopping centres 46