Kiwi Property Group Ltd. · NZX:KPG
Kiwi Property — FY2024 Earnings Presentation
36 slides from Kiwi Property's earnings presentation, 2024
Slide 1: Connected communities: 2024 Property Compendium
Connected communities 2024 Property Compendium
Slide 2: a eae
a eae
Slide 3: Contents
Contents Overview Pg 2 Mixed-use Overview Pg 8 Sylvia Park Precinct Pg 12 Sylvia Park Shopping Centre Pg 13 Sylvia Park Lifestyle Pg 14 ANZ Raranga Pg 15 3 Te Kehu Way Pg 16 LynnMall Pg 17 The Base Pg 18 Retail Overview Pg 20 The Plaza Pg 24 Centre Place North Pg 25 Office Overview Pg 26 ASB North W
Slide 4: Overview
Overview About Kiwi Property Portfolio Overview Kiwi Property (NZX: KPG) is one of the We own a diverse mix of assets, predominantly largest listed property companies on the comprising direct investment in large New Zealand Stock Exchange and a member mixed-use properties that we will continue to of
Slide 5: Geographic and sector diversification
$2.2b Auckland 3 mixed-use assets 1 office asset 1 development landholding $237m $112m Hamilton Palmerston North 1 mixed-use asset 1 retail asset 1 retail asset $146m Wellington 1 office asset Geographic diversification BY INVESTMENT PORTFOLIO VALUE Auckland 81% Hamilton 9% Wellington 6% Palmerston
Slide 6: Portfolio Overview: Top 20 tenants
Portfolio Overview Our tenant base is strong and diverse Our portfolio is well diversified by tenant type and industry. Our 20 largest tenants include banks, government departments and successful retail chains. Collectively they occupy 49% of our investment portfolio by area and contribute 42% of ou
Slide 7: Long-term, locked-in revenues
We have long- term, locked-in revenues Our weighted average lease expiry (WALE) indicates how long, on average, our portfolio income is ‘locked-in’. Our investment portfolio WALE is 4.0 years, underpinned by our office portfolio which has a solid WALE of 8.2 years with long-term leases in place acro
Slide 8: Portfolio Summary
Portfolio Summary Property details Property metrics Property/portfolio Location Ownership NLA Tenants Carparks Mixed-use ANZ Raranga Auckland 100% 11,620 4 119 3 Te Kehu Way Auckland 100% 7,269 12 207 Sylvia Park Shopping Centre Auckland 100% 94,261 235 4,123 Sylvia Park Lifestyle Auckland 100% 16,5
Slide 9: Financial and operating metrics, March 2024 valuation
Financial and operating metrics March 2024 valuation FY24 NOI WALE Value Cap. 10-year Occupancy Valuer Key tenants ($000s) (years) ($000s) rate IRR 5,147 96% 4.8 Colliers 90,000 6.00% 7.8% ANZ, IAG Geneva Finance, Regus, ASB, Local 1,184 96% 9.9 Colliers 60,000 5.88% 8.2% Doctors, Horizon Radiology
Slide 10: Kiwi Property 2024 Property Compendium
8 Kiwi Property 2024 Property Compendium
Slide 11: Mixed-use Overview
Mixed-use Overview Kiwi Property 2024 Property Compendium 9
Slide 12: Mixed-use net operating income and portfolio value
$114.2m $2.1b NE T O PE R A TI N G I N C O ME ( F Y 2 4 ) PORTFOL IO VAL UE 8.6% FOR EC A ST 10 - YE A R 99.3% OC CUPAN C Y I NTE R NA L R A T E O F R ET U R N 10 Kiwi Property 2024 Property Compendium
Slide 13: Mixed-use portfolio diversification
4 Property type BY MIXED-USE PORTFOLIO VALUE Regional centres 69% Office 7% NU MBE R OF A S S E T S Large format 4% centres Other 20% 290,375 NE T LE TT AB L E A R E A (S Q M) Geographic 6.25% diversification BY MIXED-USE PORTFOLIO VALUE Auckland 90% Hamilton 10% WE IG HT ED A V . CA P I T A L I S A
Slide 14: Sylvia Park Precinct
Sylvia Park Precinct sylviapark.com Address 286 Mount Wellington Highway, Mount Wellington, Auckland Sylvia Park, developed by Kiwi Property, is one of New Zealand’s leading property assets and a leading example of mixed-use Key Tenants community creation. The asset offers an outstanding blend of re
Slide 15: Sylvia Park Shopping Centre
Sylvia Park Shopping Centre sylviapark.com Address 286 Mount Wellington Highway, Mount Wellington, Auckland Sylvia Park is the country’s favourite shopping centre1, featuring an extensive range of local and international retailers, coupled with Key Tenants an impressive line-up of dining and enterta
Slide 16: Sylvia Park Lifestyle
Sylvia Park Lifestyle sylviapark.com Address 393 Mount Wellington Highway, Mount Wellington, Auckland Sylvia Park Lifestyle is a high performing large format retail centre constructed in 2011 and located on a prominent site adjacent to Key Tenants Auckland’s southern motorway. It forms part of the b
Slide 17: ANZ Raranga
ANZ Raranga sylviapark.com Address 286 Mount Wellington Highway, Mount Wellington, Auckland ANZ Raranga was completed in December 2018, becoming the first office tower at Sylvia Park and marking an important step in the Key Tenants site’s transition into a mixed-use asset. The building is located ne
Slide 18: 3 Te Kehu Way
3 Te Kehu Way sylviapark.com Address 3 Te Kehu Way, Mount Wellington, Auckland 3 Te Kehu Way, the new multi-use building with a mix of office Key Tenants and medical tenants at Sylvia Park, officially opened for business in Geneva Finance March 2023. 3 Te Kehu Way enjoys a prime location adjacent to
Slide 19: LynnMall
LynnMall lynnmall.co.nz Address 3058 Great North Road, New Lynn, Auckland LynnMall opened in 1963, becoming New Zealand’s first indoor Key Tenants shopping centre. Since then, it has been delivering quality retail Woolworths to Auckland’s western suburbs and in 2015 expanded to include Farmers Readi
Slide 20: The Base
The Base the-base.co.nz Address Corner Te Rapa Road and Wairere Drive, Hamilton The Base is New Zealand’s largest non-Auckland mixed-use property. Key Tenants Located in Hamilton’s growing northern suburbs, this significant asset Farmers comprises both an enclosed regional shopping centre, Te Awa, a
Slide 21: Kiwi Property 2024 Property Compendium
Kiwi Property 2024 Property Compendium 19
Slide 22: Kiwi Property 2024 Property Compendium
20 Kiwi Property 2024 Property Compendium
Slide 23: Retail Overview
Retail Overview Kiwi Property 2024 Property Compendium 21
Slide 24: Retail net operating income and portfolio value
$20.1m $144m NE T O PE R A TI N G I N C O ME ( F Y 2 4 ) PORTFOL IO VAL UE 10.0% FOR EC A ST 10 - YE A R 97.7% OC CUPAN C Y I NTE R NA L R A T E O F R ET U R N 22 Kiwi Property 2024 Property Compendium
Slide 25: Retail portfolio diversification
2 Property type BY RETAIL PORTFOLIO VALUE Regional centres 78% Sub-regional 22% NU MBE R OF A S S E T S centres 51,908 NE T LE TT AB L E A R E A (S Q M) Geographic 8.94% diversification BY RETAIL PORTFOLIO VALUE Palmerston North 78% Hamilton 22% WE IG HT ED A V . CA P I T A L I S A T I O N R A T E 2
Slide 26: The Plaza
The Plaza theplaza.co.nz Address 84 The Square, Palmerston North The Plaza is the Manawatū’s premier shopping destination. Situated Key Tenants in the heart of Palmerston North, this busy centre spans over 32,000 Kmart square metres and offers a quality retail experience to customers Woolworths Farm
Slide 27: Centre Place North
Centre Place North centreplace.co.nz Address 501 Victoria Street, Hamilton Jointly owned by Kiwi Property and Tainui Group Holdings, Centre Key Tenants Place North is the go-to destination for fashion, food and Rebel Sport entertainment in Hamilton’s central business district. It's one of LINZ HOYTS
Slide 28: Kiwi Property 2024 Property Compendium
26 Kiwi Property 2024 Property Compendium
Slide 29: Office Overview
Office Overview Kiwi Property 2024 Property Compendium 27
Slide 30: Office net operating income and portfolio value
$23.1m $358m NE T O PE R A TI N G I N C O ME ( F Y 2 4 ) PORTFOL IO VAL UE 7.6% FOR EC A ST 10 - YE A R 100% OC CUPAN C Y I NTE R NA L R A T E O F R ET U R N 28 Kiwi Property 2024 Property Compendium
Slide 31: Office portfolio diversification
2 Property type BY OFFICE PORTFOLIO VALUE A-Grade Campus 59% A-Grade 41% NU MBE R OF A S S E T S 46,125 NE T LE TT AB L E A R E A (S Q M) Geographic 6.35% diversification BY OFFICE PORTFOLIO VALUE Auckland 59% Wellington 41% WE IG HT ED A V . CA P I T A L I S A T I O N R A T E 8.2 yrs WE IG HT ED A
Slide 32: ASB North Wharf
ASB North Wharf Address 12 Jellicoe Street, Auckland Key Tenants ASB North Wharf is a showcase of environmental design and ASB innovative office space solutions. It is an award-winning, seven-level office building which was developed by Kiwi Property for ASB Bank which has a lease over all the offic
Slide 33: The Aurora Centre
The Aurora Centre Address 56 The Terrace, Wellington Key Tenants The Aurora Centre is a mainstay office option for the New Zealand Ministry of Government with all the space leased to the Ministry of Social Social Development Development until 2034. A comprehensive refurbishment and seismic strengthe
Slide 34: Disclaimer
Disclaimer Kiwi Property Group Limited has prepared this document. There is no assurance or guarantee that actual outcomes will By accepting this document and to the maximum extent not materially differ from these forward-looking statements. permitted by law, you acknowledge and agree to the A numbe
Slide 35: Slide 35
Slide 36: kp.co.nz
Kiwi Property kp.co.nz