Octodec Investments Limited · JSE:OCT
Octodec Investments — Corporate Update (February 2023)
18 slides from Octodec Investments's corporate update, Feb 22, 2023
Slide 1: Pre-close update February 2023
Pre-close update February 2023 OCTODEC INVESTMENTS LIMITED PRE-CLOSE UPDATE February 2023
Slide 2: Agenda
Agenda 1 Octodec at a glance 2 Overview for the period 3 Our portfolio performance 4 Strategy update 5 Contact details 6 Questions and answers One on OCTODEC Mutual LIMITED PRE-CLOSE UPDATE February 2023 INVESTMENTS 1
Slide 3: Octodec at a glance
OCTODEC AT A GLANCE OCTODEC INVESTMENTS LIMITED PRE-CLOSE UPDATE February 2023
Slide 4: Octodec at a glance
Octodec at a glance Tshwane and surrounds (2023: 69%) Johannesburg and surrounds Octodec is a JSE-listed REIT with a (2023: 31%) diversified inner city focused property To create and serve a thriving ecosystem Who portfolio of 242 properties, including a of residents, small shop owners, professional
Slide 5: Overview for the period
OVERVIEW FOR THE PERIOD OCTODEC INVESTMENTS LIMITED PRE-CLOSE UPDATE February 2023
Slide 6: Overview for the period
Overview for the period Stable operating environment • We recognise the changes in tenant needs and have adapted accordingly • Different responses and the ability to pivot required from the business • Strong demand remains for selected sectors • Local economy remains under pressure, with record unem
Slide 7: Overview for the period continued
Overview for the period continued Property fundamentals and property valuations • Commitment to maintaining strong property fundamentals remains, but increasingly challenging • Cautious investment approach balanced with need to maintain buildings and ensure longevity / sustainability of assets Balan
Slide 8: Our portfolio performance
OUR PORTFOLIO PERFORMANCE OCTODEC INVESTMENTS LIMITED PRE-CLOSE UPDATE February 2023
Slide 9: Residential portfolio overview
Residential portfolio overview Residential vacancy trends (%) • We have seen an overall reduction in vacancies in HY2023 compared to the same six months in the prior 35 year 30 26 Vacancy % comparisons 25 20 20 20 16 January 2023 January 2022 % % 15 10 9 9 8 10 7 6 6 6 6 5 14 Johannesburg 5 Kempton
Slide 10: Commercial portfolio overview
Commercial portfolio overview Leasing highlights – retail/shopping centres • Vibrant leasing at The Fields yielded > 3 300m² of new retail and office space let, as well as renewal Core lettable vacancies* by sector of the SEDA lease (6 568m²) for 1 year • Office space (1 914m²) at Rentmeester Buildi
Slide 11: Lease expiry update: leases above 3 000m² (FY2023)
Lease expiry update: leases above 3 000m² (FY2023) at 31 January 2023 Building Tenant Lease expiry GLA (m²) Renewal status Wits Technikon Basa Tutorial Institute December 2022 11 782 Tenant requested an early renewal for a five-year lease at a rent reduction of approximately 25% CPA House City Prope
Slide 12: Collections / arrears
Collections / arrears Collection as % of billings 110 105 100 95 90 85 80 Sep-22 Oct-22 Nov-22 Dec-22 Jan-23 Commercial Residential Total Arrears stable, with collections in line with historic trends OCTODEC INVESTMENTS LIMITED PRE-CLOSE UPDATE February 2023 Nedbank Plaza 11
Slide 13: Strategy update
STRATEGY UPDATE OCTODEC INVESTMENTS LIMITED PRE-CLOSE UPDATE February 2023
Slide 14: Strategy update
Strategy update Financial sustainability • Refinance of maturing unsecured notes amounting to R180 million • Refinance of R2.0 billion in facilities on an average tenor of 3.3 years under way • Anticipate the refinance of a secured note of R364 million maturing in June 2023 • LTV levels expected to
Slide 15: Strategy update continued
Strategy update continued Property portfolio • Sold and transferred 5 properties for R76 million net of commission • Expect to transfer a further 3 properties for an approximate amount of R65 million in the current financial year Capital expenditure • No new acquisitions anticipated in current envir
Slide 16: Contact details
Anabel Vieira Financial director Tel: 012 319 8863 Email: Anabel.Vieira@Octodec.co.za Jeffrey Wapnick Managing director Tel: 012 319 8709 Email: JeffW@Octodec.co.za OCTODEC INVESTMENTS LIMITED PRE-CLOSE UPDATE February 2023
Slide 17: Questions and answers
QUESTIONS AND ANSWERS OCTODEC INVESTMENTS LIMITED PRE-CLOSE UPDATE February 2023
Slide 18: OCTODEC INVESTMENTS LIMITED PRE-CLOSE UPDATE February 2023
OCTODEC INVESTMENTS LIMITED PRE-CLOSE UPDATE February 2023
Octodec Investments — Corporate Update (February 2023) on 6ix