Australian Unity Office Fund · ASX:AOF
Australian Unity Office Fund — Shareholder Meeting (November 2017)
19 slides from Australian Unity Office Fund's shareholder meeting presentation, Nov 21, 2017
Slide 1: Australian Unity Office Fund 2017 Annual General Meeting
Australian Unity Office Fund (ASX: AOF) 2017 Annual General Meeting 21 November 2017
Slide 2: Important notice and disclaimer
Important notice and disclaimer The information provided in this presentation has been prepared by Australian Unity Investment Real Estate Limited ABN 86 606 414 368 AFS Licence 477434 (AUIRE), as responsible entity of the Australian Unity Office Fund ARSN 113 369 627 (Fund). The information provide
Slide 3: Agenda
Agenda Presenters 1 Chairman’s welcome 2 Chairman’s address (William) Peter Day Chairman 3 Fund Manager’s address Grant Nichols 4 Questions Fund Manager 30 Pirie Street, Adelaide, South Australia 10 Valentine Avenue, Parramatta, New South Wales 3
Slide 4: Chairman's address
Chairman’s address Peter Day 150 Charlotte Street, Brisbane, QLD
Slide 5: Financial year 2017 – strong results
Financial year 2017 – strong results Overall performance Return on NTA 1 22.1% Funds From Operations Net Tangible Assets Statutory Net Profit Per Unit Per Unit 0.7 cents $42.6m $0.27 (+4.3%) (+236.7%) (+13.8%) 17.1 $60.6m $2.23 cents 16.4 $1.96 cents $18.0m 2,3 3 2,4 4 PDS 2,3 FY17 3 PDS FY17 PD
Slide 6: Clear well defined investment objective and strategy
Clear well defined investment objective and strategy Invest in quality Australian office properties located in Fund objective 1 metropolitan and CBD markets 2 Grow net property income To provide unitholders with sustainable income returns 3 Enhance capital values via quarterly distributions and the
Slide 7: Board of Directors – Australian Unity Investment Real Estate Limited
Australian Unity Office Fund Board of Directors – Australian Unity Investment Real Estate Limited Centre: (William) Peter Day, Independent Director and Chairman, Member of AOF’s Audit & Risk Committee From left: Don Marples, Independent Director, Chairman of AOF’s Audit & Risk Committee; Eve Crestan
Slide 8: Management team
Australian Unity Office Fund Management team From left: Mark Pratt, General Manager, Property; Simon Beake, Portfolio Manager; Grant Nichols, Fund Manager; Giovanna Reale, Asset Manager 8
Slide 9: Fund Manager's address
Fund Manager’s address Grant Nichols 241 Adelaide St, Brisbane, QLD
Slide 10: Full year 2017 result highlights
Full year 2017 result highlights Exceeded financial forecasts, delivering capital growth Funds From Operations (FFO) 17.1 cpu1 (PDS2 1 16.4 cpu) 2 NTA per unit $2.233 (PDS2 $1.964) Long term renewal of largest near term lease 3 expiry (CPSA5) Portfolio value increased to $441.1m3 4 (uplift of $48.3m
Slide 11: FY17 portfolio highlights
FY17 portfolio highlights Significant leasing completed with solid valuation outcomes ~17,400 sqm of new leases completed 1 (26 transactions) 2 Represents ~18% of portfolio by area 3 Portfolio value increased by $48.3m to $441.1m1 4 Weighted average capitalisation rate of 7.5%1 5 Average portfolio v
Slide 12: Growth in net tangible assets
Growth in net tangible assets Delivering value for unitholders and contributing to the 22.1%1 return on NTA for the year to 30 June 2017 $2.30 $2.20 $0.28 $2.23 $0.04 $2.19 $2.10 $2.00 $1.90 $1.95 $1.80 $1.70 $1.60 $1.50 30 June 2016 NTA per Revaluation gains 30 June 2017 NTA per Acquisition costs 1
Slide 13: 150 Charlotte St, Brisbane
150 Charlotte St, Brisbane Strategic acquisition with strong cashflow in an improving market 1 Located in the heart of the Brisbane CBD – Centre of Brisbane CBD adjacent to the 'Golden Triangle' – Major bus, ferry and train networks and the Queen Street Mall shopping precinct are in close proximit
Slide 14: Quality portfolio of assets
Quality portfolio of assets Well diversified portfolio Total portfolio Australian WALE Occupancy No. of properties value exposure $547m 4.8 years 94.2% 9 100% Geographic diversification1 Major tenants1,2 64 Northbourne Ave Canberra Telstra 23% 468 St Kilda Rd 10 Valentine Ave NSW Melbourne Parramatt
Slide 15: Office market outlook
Office market outlook AOF View • Positive overall outlook amidst relatively limited additional supply • Fringe and metro market rents 50+% cheaper than the CBD Perth Brisbane • Rents remain comparatively high, • Improving tenant demand; reasonable despite peak vacancy rates; rental growth expected o
Slide 16: AOF outlook
AOF outlook Well positioned for long term growth Lease expiry profile1 High levels of income security 60% 51% Strong lease expiry profile 40% 20% Exposure to improving markets 20% 9% 6% 6% 6% 3% 0% Conservative capital structure Vacant FY18 FY19 FY20 FY21 FY22 FY23+ 1. By Net Lettable Area a
Slide 17: Appendix
Appendix 150 Charlotte Street, Brisbane, QLD
Slide 18: Property portfolio
Property portfolio As at 30 June 2017 (pro-forma with 150 Charlotte Street, Brisbane2) Book value NLA WALE1 Occupancy Property State Cap rate ($m) (sqm) (years) (By NLA) Single or Dominant tenant assets 30 Pirie Street, Adelaide SA 119.0 7.50% 24,781 5.7 91.7% 10 Valentine Avenue, Parramatta NSW 86.
Slide 19: Health | Wealth | Living
AustralianyD Health | Wealth | Living
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