Australian Unity Office Fund · ASX:AOF
Australian Unity Office Fund — H1 FY2024 Earnings Presentation
17 slides from Australian Unity Office Fund's earnings presentation, Feb 23, 2024
Slide 1: Australian Unity Office Fund 2024 Half Year Results
30 Pirie Street, Adelaide, artists impression, subject to change 10 Valentine Avenue Parramatta, new entry and lobby, artist’s impression, subject to change Australian Unity Office Fund 2024 Half Year Results February 2024 (ASX: AOF) Webcast | Teleconference 1
Slide 2: Acknowledgement of Country; Overview and Agenda
Acknowledgement of Country We acknowledge the traditional owners of the lands and waters within Australia and recognise the important connection to Country that Aboriginal and Torres Strait Islander People have. Overview and Agenda 1. Strategy 2. Portfolio review 3. Financial results 4. Outlook and
Slide 3: Delivering on strategy
Strategy Delivering on strategy Portfolio update Distributions 96 York Street, Beenleigh was sold for $29.70 million, with the contract exchanged in January 2024 and settlement in the September 2023 quarter 1.30 cpu coming months December 2023 quarter 1.50 cpu All remaining assets were independently
Slide 4: Property Portfolio
Property Portfolio1 All assets were independently valued at 31 December 20231 with the capitalisation rate expanding to 7.13% and an NTA of $1.72 per unit At 30 June 2023 Independent Independent Capitalisation Capitalisation NLA2 Value WALE3 Occupancy Valuation Market Property State Valuation rate (
Slide 5: 10 Valentine Avenue, Parramatta
10 Valentine Avenue, Parramatta Refurbishment Update • The refurbishment works to upgrade the property and introduce a new state of art end of trip, lobby and enhanced entry off Valentine Avenue, are well underway with 65% of the project completed • Works are anticipated to be finalised as follows:
Slide 6: 2 Valentine Avenue Parramatta – Potential Alternate Uses
2 Valentine Avenue Parramatta – Potential Alternate Uses 2 Valentine Avenue, Parramatta is currently a car park. Potential alternate use strategies are detailed below1 Existing development approvals – creating Valentine Place • Valentine Place provides an opportunity to create a precinct of ~48,000
Slide 7: 150 Charlotte Street Brisbane
150 Charlotte Street Brisbane Refurbishment Update • Concept plans for the refurbishment works enhancing the ground floor amenity, including the introduction of third space, podium level, end of trip, meeting rooms and wellness centre have been finalised and detailed design is progressing • The tend
Slide 8: 468 St Kilda Road Melbourne
468 St Kilda Road Melbourne 30 Pirie Street, Adelaide, artists impression, subject to change Refurbishment Update • Concept plans to refurbish, the entry, lobby, introducing new third space, including meeting rooms and a repositioned and upgraded end of trip are underway • Speculative fit concept pl
Slide 9: 64 Northbourne Avenue Canberra
64 Northbourne Avenue Canberra Refurbishment Update • Located on a prominent corner in the Canberra CBD within the prime retail precinct, and near the City Bus Interchange and the main station of the Canberra Light Rail Network • Concept plans are underway to refurbish the ground floor lobby, creati
Slide 10: Financial and Capital Management - Half Year Ended December 2023
Financial and Capital Management1 - Half Year Ended December 2023 FFO per unit 4.0 cpu FFO reflects refurbishment of 10 Valentine Avenue, Parramatta which was vacant during the half year Distributions per unit 2.8 cpu Distributions of 2.8 cpu for the half year, with 1.5 cpu guidance for the March 20
Slide 11: Outlook and Guidance
Outlook and Guidance Guidance Distribution guidance1 of 1.50 cpu for the March 2024 quarter Distribution guidance1 will be provided on a quarterly basis Outlook Deliver on leasing and occupancy outcomes including progressing the refurbishments Continue proactive approach to portfolio construction, a
Slide 12: Appendices
Appendices 150 Charlotte Australian UnityStreet, Brisbane, artist’s impression, subject to change 12
Slide 13: Income Statement
Income Statement $’000 HY2024 HY2023 Change Note i . Reduction in net property income, management fees and borrowings reflects the sale of three assets during Rental income1 11,887 23,229 (11,342) i FY2023, with the sale proceeds used to repay debt and fund a special distribution Property expenses (
Slide 14: Balance Sheet
Balance Sheet $’000 31 Dec 2023 30 June 2023 Change Note Assets i. The cash balance at 30 June 2023 was used to fund Cash and cash equivalents 4,179 43,864 (39,685) i a special distribution (paid 27 July 2023) Financial assets held at fair value through profit or loss 2,107 2,356 (249) Receivables 1
Slide 15: Property Portfolio
Property Portfolio As at 31 December 2023 and excluding 96 York Street, Beenleigh which was held for sale Key Portfolio Metrics Lease expiry profile1 Number of properties 4 45% 40% Occupancy1 (excluding asset under refurbishment) 93.0% 35% Boeing 30% Occupancy1 (all assets) 60.2% 150 Charlotte St 25
Slide 16: AOF – Portfolio Environmental Performance as at December 2023
AOF – Portfolio Environmental Performance as at 31 December 2023 National Australian Built NABERS Energy Rating (No Greenpower Site Address Environment Rating System NABERS Water Included, public rating only) (NABERS) Rateable 10 Valentine Avenue, Parramatta, NSW Yes Asset currently under refurbishm
Slide 17: Important notice and disclaimer
Important notice and disclaimer The information provided in this presentation is issued by Australian Unity Investment Real Estate Limited ABN 86 606 414 368 AFSL 477434 (AUIREL) in its capacity as the responsible entity of the Australian Unity Office Fund (AOF). AUIREL is a wholly owned subsidiary
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