GARDA Property Group · ASX:GDF
GARDA Property — Investor Presentation (October 2021)
15 slides from GARDA Property's investor presentation, Oct 11, 2021
Slide 1: Valuations and Development Pipeline
GARDA Property Group Level 21, 12 Creek Street W gardaproperty.com.au Brisbane QLD 4000 E info@gardaproperty.com.au GPO Box 5270 P +61 7 3002 5300 Brisbane QLD 4001 For personal use only 11 October 2021 VALUATIONS AND DEVELOPMENT PIPELINE GARDA Property Group (“GARDA”) today provides a presentation
Slide 2: Valuations and Development | October 2021
For personal use only GARDA PROPERTY GROUP (ASX: GDF) VALUATIONS AND DEVELOPMENT | October 2021
Slide 3: Disclaimer
DISCLAIMER For personal use only This presentation (Presentation) has been prepared on behalf of GARDA Property Group (GDF or Group or GARDA), comprising GARDA Holdings Limited (GHL) and its controlled entities and GARDA Capital Limited (ACN 095 039 366) (AFSL 246714) (GCL) as responsible entity of
Slide 4: Valuations October 2021
For personal use only VALUATIONS OCTOBER 2021 | Valuations & Development 41 Bivouac Place, Wacol
Slide 5: Valuation Highlights
VALUATION HIGHLIGHTS KEY OUTCOMES OF PORTFOLIO VALUATION CYCLE – OCTOBER 2021 For personal use only 25 cents increase in NTA per security1 $67.7m increase in Portfolio Value2 $1.70 | 17% $558.9m | 14% NTA PER SECURITY PORTFOLIO VALUE Reduction in Gearing3 Cap Rate Compression4 35.3% | 3.1% 5.27% | 5
Slide 6: Security Price Performance
SECURITY PRICE PERFORMANCE NTA PER SECURITY VERSUS ASX SECURITY PRICE SINCE INTERNALISATION 1 For personal use only $1.80 GDF.ASX NTA per securtity $1.60 $1.40 $1.20 $1.00 $0.80 $0.60 01-Dec-19 01-Mar-20 01-Jun-20 01-Sep-20 01-Dec-20 01-Mar-21 01-Jun-21 01-Sep-21 01-Dec-21 1. NTA and ASX security pr
Slide 7: Valuations and Financial Outcomes
VALUATIONS AND FINANCIAL OUTCOMES For personal use only ▪ GARDA has completed a portfolio valuation program as at 1 October 2021. Valuation ▪ The program included nine established industrial assets, four commercial office assets and the recently acquired industrial development site at Richlands. Thr
Slide 8: Valuation Overview
VALUATION OVERVIEW For personal use only Sector (by Value) 4.90% 5.64% Office Industrial Land / Industrial Development INDUSTRIAL CAP RATE OFFICE CAP RATE 1 Oct 2021 Cap Rate Movement Cap Rate Property Sector Valuation Movement in Valuation 41% (%) ($m) (bps) ($m) Acacia Ridge, 38 Peterkin St Indust
Slide 9: Industrial Development
For personal use only INDUSTRIAL DEVELOPMENT | Valuations & Development
Slide 10: 'Build to Own' Industrial Development Pipeline
‘BUILD TO OWN’ INDUSTRIAL DEVELOPMENT PIPELINE ~156,000M² OF INDUSTRIAL DEVELOPMENT TO BE CONSTRUCTED For personal use only INDUSTRIAL DEVELOPMENT PIPELINE GFA1 DELIVERY North Lakes (new) 98,000 Wacol, Pinnacle East (new) 13,000 Richlands (new) 13,000 Wacol, Pinnacle West (Bldg A) 3,000 Acacia Ridge
Slide 11: Illustrative Pipeline Valuation Metrics
ILLUSTRATIVE PIPELINE VALUATION METRICS For personal use only Indicative Valuation Metrics ▪ $125/m² p.a. is the assumed average rent rate used for 156,000m² of future pipeline GFA. The average net rent of GARDA’s comparable portfolio of established industrial assets is $128/m². $125/m² ▪ 4.75% is t
Slide 12: Illustrative Analysis – Potential NTA Upside
ILLUSTRATIVE ANALYSIS – POTENTIAL NTA UPSIDE For personal use only Inputs, estimates and assumptions for illustrative purposes: $410 Million ▪ 156,000m² at $2,632/m² (based on $125/m² net rent capitalised at 4.75%). ON-COMPLETION INDUSTRIAL VALUE ▪ As the development of 156,000m² will occur over a m
Slide 13: Illustrative Analysis – Property Income
ILLUSTRATIVE ANALYSIS – PROPERTY INCOME For personal use only 156,000m² $125/m² PIPELINE GFA AVERAGE RENT RATE $19.5 Million NET PROPERTY INCOME PER ANNUM ▪ Indicative interest costs associated with debt funding the delivery of 156,000m² ~ $5.0 Million of industrial pipeline. ANNUAL INTEREST EXPENSE
Slide 14: Pipeline – The Logical Order
PIPELINE – THE LOGICAL ORDER For personal use only ▪ Land available for redevelopment : • 15,265m² of available GFA at Acacia Ridge stage 2 (CY 2022). ▪ Currently developed land: • 10,830m² of available GFA at Wacol, Pinnacle West (CY 2022). ▪ Undeveloped land • 13,000m² of available GFA at Bandara
Slide 15: For personal use only
For personal use only w: gardaproperty.com.au e: info@gardaproperty.com.au Level 21, 12 Creek Street, Brisbane QLD 4000 p: +61 7 3002 5300 GPO Box 5270, Brisbane QLD 4001
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