Mirvac Group · ASX:MGR
Mirvac — Merger or Acquisition (November 2013)
17 slides from Mirvac's merger presentation, Nov 7, 2013
Slide 1: Property Acquisitions
For personal use only Property Acquisitions by mirvac 7 november 2013
Slide 2: Overview
Property Acquisitions I 7 November 2013 I page 1 Overview by mirvac For personal use only Strategic acquisitions of quality assets in core locations with value add potential n Mirvac has entered into agreements to acquire two Melbourne CBD office assets and one Sydney CBD retail asset (the “Acquisit
Slide 3: Property Acquisitions
Property Acquisitions I 7 November 2013 I page 2 For personal use only Property Acquisitions by mirvac
Slide 4: Property acquisitions
Property Acquisitions I 7 November 2013 I page 3 Property acquisitions by mirvac For personal use only Leveraging Mirvac’s integrated model capabilities in asset management and development n Assets acquired for long term hold on attractive fully-let yields, providing returns in excess of stated targ
Slide 5: 367 Collins Street, VIC
Property Acquisitions I 7 November 2013 I page 4 367 Collins Street, VIC by mirvac For personal use only Core Melbourne CBD location, stable income and repositioning upside Asset summary Key metrics n 33 level, A-grade office building completed in 1975 with Interest100% tenancies refurbished from 20
Slide 6: 477 Collins Street, VIC
Property Acquisitions I 7 November 2013 I page 5 477 Collins Street, VIC by mirvac For personal use only Prime CBD development opportunity with holding income Asset summary Key metrics n Known as ‘The Olderfleet Buildings’ incorporating: Interest100% Levels8 – Three older heritage listed buildings,
Slide 7: Collins Street, VIC – Development potential
Property Acquisitions I 7 November 2013 I page 6 477 Collins Street, VIC – Development potential by mirvac For personal use only Mirvac’s Development Division to deliver prime office development leveraging Collins Street location Project summary n Development concept – 36 level, 51,000sqm prime grad
Slide 8: Strategic allocation to Melbourne office
Property Acquisitions I 7 November 2013 I page 7 Strategic allocation to Melbourne office by mirvac For personal use only Mirvac is now entrenched as a leading owner and manager of office assets in the Melbourne CBD Mirvac office assets in Melbourne Value Asset Grade ($m) C CBD A 367 Collins Street
Slide 9: Harbourside Shopping Centre, NSW
Property Acquisitions I 7 November 2013 I page 8 Harbourside Shopping Centre, NSW by mirvac For personal use only Strategic acquisition of key CBD retail asset with repositioning potential Asset summary Key metrics n CBD retail centre with 21,039sqm of GLA Interest100% GLA21,039sqm n Focus on food,
Slide 10: Darling Harbour Precinct redevelopment
Property Acquisitions I 7 November 2013 I page 9 Darling Harbour Precinct redevelopment by mirvac For personal use only $3bn Darling Harbour precinct redevelopment, commencing in early 2014 Darling Harbour Live n $2.5bn total end value – New hotel complex (approximately 650 rooms, adjoins Harboursid
Slide 11: Portfolio impact
Property Acquisitions I 7 November 2013 I page 10 Portfolio impact by mirvac For personal use only Acquisitions align with directional mandates set for Mirvac’s portfolio MPT (FY13) 1 Office (FY13) 2 Retail (FY13) 2 Office 60% Sydney 63% Sub regional 79% Industrial 7% Melbourne 16% Neighbourhood 8%
Slide 12: Summary
Property Acquisitions I 7 November 2013 I page 11 Summary by mirvac For personal use only Acquisitions aligned to Mirvac’s strategy and offer returns in excess of stated targets Impact Acquisitions offer opportunity to leverage Mirvac’s integrated model 4 Returns in excess of stated targets 4 Core C
Slide 13: Appendix A: Pro forma balance sheet
Property Acquisitions I 7 November 2013 I page 12 For personal use only Appendix A by mirvac Pro forma balance sheet
Slide 14: Pro forma Balance Sheet
Property Acquisitions I 7 November 2013 I page 13 Pro forma Balance Sheet by mirvac For personal use only 30 June Completion 30 June 2013 of assets held Transaction 2013 (Actual) for sale 1 adjustments (Pro forma) Cash ($m) 127 — — 127 Investment properties ($m) 6,030 — 552 6,582 Inventories ($m) 1,
Slide 15: Disclaimer and important notice
Property Acquisitions I 7 November 2013 I page 14 Disclaimer and important notice by mirvac For personal use only Mirvac Group comprises Mirvac Limited ABN 92 003 280 699 and Mirvac Property Directors and employees of Mirvac Funds Limited do not receive specific payments Trust ARSN 086 780 645. This
Slide 16: Glossary
Property Acquisitions I 7 November 2013 I page 15 Glossary by mirvac For personal use only Term Meaning CBD Central Business District CPSS Cents Per Stapled Security DPS Distribution Per Stapled Security EPS Earnings Per Stapled Security FY Financial Year GLA Gross Lettable Area MAT Moving Annual Tu
Slide 17: Thank you
For personal use only Thank you by mirvac