Frasers Property Ltd. · SGX:TQ5
Frasers Property — Frasers Commercial Trust — Merger or Acquisition (February 2012)
14 slides from Frasers Property's merger presentation, Feb 16, 2012
Slide 1: Proposed Acquisition of 50% interest in Caroline Chisholm Centre
Frasers Commercial Trust Proposed Acquisition of 50% interest in Caroline Chisholm Centre 16 February 2012
Slide 2: Contents
Contents 2 Overview Key Benefits Summary
Slide 3: Overview
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Slide 4: Overview – Caroline Chisholm Centre
Overview – Caroline Chisholm Centre 4 Fully leased to the Commonwealth Government of Australia with approximately 13.4 years balance lease term and 3% annual rent increment 5-storey “Grade A” office complex. The property is strategically located in the core of the Tuggeranong Town Centre, one of f
Slide 5: Overview – Transaction
Overview – Transaction 5 Purchase consideration at 12.6% discount to valuation Purchase Consideration AUD 83m (i) Allco SPC No. 9 Pty Limited, in its capacity as trustee of A1 Trust (receivers appointed), and Vendor (ii) Allco SPC No. 8 Pty Limited, in its capacity as trustee of A2 Trust (receiver
Slide 6: Key Benefits
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Slide 7: Key benefits – Yield accretive
Key benefits – Yield accretive 7 Boost DPU by 5.6% to 6.07 cents based on Pro forma financial effects Pro forma Distribution Per Unit (cents) Pro forma NPI & distributable income to Unitholders (million) 11% 6.07 106.9 96.0 5.6% 6% 5.75 36.3 38.6 Before Acquisition 1 After Acquisition 2 Pro forma
Slide 8: Key benefits – Income diversification
Key benefits – Income diversification 8 Improve income diversification, no single property contributing > 25% gross rental income Before acquisition After Acquisition 55 Market 55 Market China Square Street, 5% Street, 5% China Square Central, 16% Central, 14% KeyPoint, 13% KeyPoint, 14% Ebara Tec
Slide 9: Key benefits – Enhance lease expiry profile
Key benefits – Enhance lease expiry profile 9 > 31% of gross rental income expiring in FY16 & beyond As at Post Portfolio lease expiry by gross rental income Key portfolio statistics 31 December 2011 Acquisition WALE by gross rental income 3.4 years 4.4 years 50% 31.5% 30% 27.9% 28.1% 25.4% * 25.6
Slide 10: Built-in organic growth
Key benefits – Built-in organic growth 10 Increase % of gross rental income with fixed rent reviews FY12 – 15 - Portfolio fixed % reviews 50% 45% 40% % of gross rental income 35% 30.9% 30% 28.1% 27.5% 26.8% 24.2% 25% 21.2% 20.5% 19.8% 20% 15% 10% 5% 0% FY12 FY13 FY14 FY15 Before Acquisition After
Slide 11: Key benefits – Boost stability of income
Key benefits – Boost stability of income 11 Increase master lessee/ blue chip tenants with long leases to 48.3% Before acquisition After Acquisition Master Lease, Master Lease, 19.8% Other Tenants, 18.0% Other Tenants, 51.7% 56.9% Blue Chip Tenants with Blue Chip Long Leases, Tenants with 23.3% Lo
Slide 12: Summary
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Slide 13: Summary Benefits
13 Summary 13 Benefits 1. Purchase consideration at 12.6% discount to valuation 2. Boost DPU by 5.6% based on pro forma financial effects 3. Fully leased to the Commonwealth Government of Australia with approximately 13.4 years balance lease term and 3% annual rent increment 4. Improve income dive
Slide 14: Thank you
Thank you Frasers Centrepoint Asset Management (Commercial) Limited Level 21 | 438 Alexandra Road | Alexandra Point | Singapore 119958 Tel: +65 6276 4882| Fax: +65 6276 8942| Email: fcot@fraserscentrepoint.com www.fraserscommercialtrust.com
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