Sa Corporate Real Estate Ltd. · JSE:SAC
Sa Corporate Real Estate — FY2024 Earnings Presentation
13 slides from Sa Corporate Real Estate's earnings presentation, Dec 13, 2024
Slide 1: SA Corporate 2024 Year End Pre-Close Update Presentation
SA Corporate 2024 Year End Pre-Close Update Presentation 13 December 2024
Slide 2: Agenda
01 LFL NPI Portfolio Performance AGENDA 02 Retail Portfolio Performance 03 Retail Strategic Leasing Update 04 Industrial Portfolio Performance 06 Afhco / Indluplace Portfolio Performance 07 Zambia Investment Performance 08 Unlisted Residential Fund Update 09 Financial Sustainability 10 Distribution
Slide 3: LFL NPI Portfolio Performance
LFL NPI PORTFOLIO PERFORMANCE Forecast FY 2024 vs FY 2023 Sector Commentary LFL NPI Growth The above inflation growth is largely attributed to strong contracted rental escalations Industrial 6.9% and proactive letting efforts resulting in limited re-tenanting downtime, with almost full occupancy in
Slide 4: Retail Portfolio Performance
RETAIL PORTFOLIO PERFORMANCE Vacancy Vacancy Anticipated Sector Comments 31-Dec-23 31-Oct-24 Vacancy 31-Dec-24 Vacancies have been reduced from a low base, largely aided by increased leasing efforts towards Morning Glen Mall, Retail 2.7% 2.6% 2.4% which saw the opening of lifestyle and entertainment
Slide 5: Retail Portfolio Performance (continued)
RETAIL PORTFOLIO PERFORMANCE (continued) Trading Density Trading Density Growth Growth Sector Comments 12 month rolling to 12 month rolling 31-Dec-23 to 31-Oct-24 60% of the centres achieved trading density growth exceeding 6%, however, the growth was muted by lower trading density growth at Musgrav
Slide 6: Retail Strategic Leasing Update
RETAIL STRATEGIC LEASING UPDATE Centre Description GLA (m2) Musgrave Shopping Centre Redeveloped ex-Ster-Kinekor space and introduced Checkers 3 274m2 emporium (incl Checkers Fresh-X, Pet Science and Checkers Liquor) and First National Bank from 1 July 2024. East Point Concluded renewal of Game stor
Slide 7: Industrial Portfolio Performance
INDUSTRIAL PORTFOLIO PERFORMANCE Vacancy Vacancy Anticipated Sector Comments 31-Dec-23 31-Oct-24 Vacancy 31-Dec-24 Industrial 0.2% 0% 0% Zero vacancy anticipated at year end. Retention Anticipated Retention Rate Sector Rate YTD Retention Rate Comments 31-Dec-23 31-Oct-24 31-Dec-24 2024 lease expirie
Slide 8: Afhco / Indluplace Portfolio Performance
AFHCO / INDLUPLACE (“ILU”) PORTFOLIO PERFORMANCE Vacancy Vacancy Anticipated Vacancy Sector Comments 31-Dec-23 31-Oct-24 31-Dec-24 Inner-city vacancies have decreased to 2.7%, reflecting a Residential - 4.2% 4.3% 3.8% strong and continued improvement, while suburban Afhco vacancies stand at 5.0%, sh
Slide 9: Zambia Investment Performance
ZAMBIA INVESTMENT PERFORMANCE East Park Mall 31-Dec-23 31-Oct-24 31 Dec 24 Forecast Vacancy1 0.7% 2.4% 2.4% Retention of expiring leases 100% 100% 100% Renewal Reversion (US$) 2.3% -0.31% 0.7% 2024 forecast growth NPI / Distributable Income SAC Share Comments versus 2023 actual East Park Mall NPI Co
Slide 10: Unlisted Residential Fund Update
UNLISTED RESIDENTIAL FUND UPDATE 1st cornerstone investor’s investment committee approved R1.25 billion equity investment in Unlisted Residential Fund on 18 November 2024 First R1.25 Billion Investment Expected Timeline Dec Jan Feb Mar Apr May Jun ’24 ’25 ‘25 ‘25 ‘25 ‘25 ‘25 MILESTONES & SPECIFIC TA
Slide 11: Financial Sustainability
FINANCIAL SUSTAINABILITY Strategic Focus Financial Sustainability Disposals Update 2024 Disposals Pipeline R772.1 million Previously Contracted R772.1 million Transferred R151.6 million Unconditional R308.6 million Conditional R311.9 million Apartment Sales Total Apartment Sales Quantum 3 504 Apartm
Slide 12: Distribution Guidance
DISTRIBUTION GUIDANCE 2024 YE: • At least 5% > 2023. 2025 YE: • Above inflation > 2024 YE.
Slide 13: Q&A
Q&A ?? Q ? & ?? A ?
SA Corporate Real Estate — FY2024 Earnings Presentation on 6ix