Slide 1: June 2014
For personal use only June 2014
Slide 2: Contents
Contents • BlackWall Overview Page 2 For personal use only • Three Year Performance Page 3 • ProCit & Loss Summary Page 4 • Balance Sheet Summary Page 5 • BlackWall Property Trust (ASX: BWR) Page 6 • Bakehouse Quarter Page 7 • BlackWall Telstra House Trust Page 8 • Single Asset Syndicates Page 9 • T
Slide 3: BlackWall Overview
Vertically integrated property funds management and For personal use only investment. EPS 8 cps • Revenue generated from property and fund NTA 28 cps management fees, performance fees, serviced 2014 Dividend* 2.5 cps ofCice operations and investment returns. Share Price 26.5 cps • Capital employed i
Slide 4: Three Year Performance
Three Year Performance For personal use only Financial Year 2012 2013 2014 Net proCit after tax ($3 million) $2.3 million $4.1 million EPS (6 cps) 4 cps 8 cps NTA per share 17 cps 21 cps 28 cps Share price 10 cps 14 cps 25 cps Total Dividend* 0.5 cps 1.1 cps 2.5 cps * Fully Franked (cents) Grossed u
Slide 5: Profit & Loss Summary
ProEit & Loss Summary For personal use only Full Year 2014 Management Fees $7,418,000 WOTSO WorkSpace Income $1,230,000 Investment Income • Distributions $556,000 • Asset Sales, Impairment & Revaluations $1,300,000 Total Income $10,504,000 Expenses ($4,621,000) Depreciation ($158,000) Interest and T
Slide 6: Balance Sheet Summary
Balance Sheet Summary For personal use only June 2014 Cash & Receivables $2,045,000 Investments BWR $6,979,000 Bakehouse Bonds $5,340,000 Pelathon Pub Group $1,017,000 TPIF $444,000 $13,780,000 Loan Receivable $465,000 Plant & Equipment $387,000 Other Assets $45,000 Liabilities ($2,786,000) Net Asse
Slide 7: BlackWall Property Trust
BlackWall Property Trust (ASX: BWR) For personal use only • Listed diversiCied property trust -‐ BlackWall assumed NTA 13.5 cpu control in 2009, at the time BWR was a distressed Gross Assets $116 m unlisted property fund. Gearing 45% • “Workout” now complete with debt at 45% and Net ProCit $6.2 m d
Slide 8: Bakehouse Quarter
Bakehouse Quarter For personal use only • The Bakehouse Quarter is a signiCicant urban business precinct located at North StrathCield in Sydney’s inner west, Asset Value* $200 m valued at over $200 million. Senior Debt $98 m • Key commercial tenants include Arnott’s Campbell Soups, Subordinated $25
Slide 9: BlackWall Telstra House Trust
BlackWall Telstra House Trust For personal use only • Single asset syndicate with signiCicant development Gross Assets $32.5 m potential. Gearing 56% • The property is a 7 storey ofCice building located on Gross Rent $3.1 m Northbourne Ave in the ACT leased to Telstra until November 2018. Telstra ha
Slide 10: Single Asset Syndicates
Single Asset Syndicates For personal use only Fund Type Tenants Asset Value Structure Toys R Us, Boating Camping Fishing, BlackWall Penrith Lifestyle Centre Barbeques Galore, $17.5 million Retail MIS Fund No. 3 Little Learning Childcare, Rashay’s Restaurant AMF Bowling, Woodville Road Entertainment
Slide 11: Tankstream Property Investments Fund
Tankstream Property Investments Fund For personal use only Gross Assets $2.9 m • Property securities fund taken over by BlackWall’s Investors 380 fund management business in 2009. At the time the fund was distressed with unsustainable debt obligations. • “Turnaround” now complete with the trust debt
Slide 12: WOTSO WorkSpace
For personal use only • BlackWall’s wholly owned serviced ofCice business with 2,000 sqm in operation and a further 1,800 sqm in start up phase. The business’ EBITDA contribution was $270k in 2014 ($110k in 2013). • The business re-‐brands as WOTSO WorkSpace. • Three locations in Sydney and a fourt
Slide 13: Distressed Debt Mandates
Distressed Debt Mandates For personal use only • BlackWall undertakes distressed debt and “workout” assignments with respect to difCicult real estate positions. • Where appropriate BlackWall aims to structure co-‐investments using its balance sheet or by structuring investment syndicates. • Current
Slide 14: Pelathon Pub Group
Pelathon Pub Group For personal use only • As part of BlackWall’s opportunistic acquisition of Tankstream Funds Management in 2009 BlackWall took control of a distressed pub fund. • After managing the workout phase BlackWall sold the fund management rights to specialist pub manager, Pelathon Managem
Slide 15: More Information
More Information For personal use only Stuart Brown Tim Brown Chief Executive OfCicer Chief Financial OfCicer sbrown@blackwallfunds.com.au tbrown@blackwallfunds.com.au 0413 921 570 0416 925 376 Full Year Results – 30 June 2014 Page 14