GARDA Property Group · ASX:GDF
GARDA Property — GARDA Diversified Property Fund — Shareholder Meeting (November 2017)
27 slides from GARDA Property's shareholder meeting presentation, Nov 13, 2017
Slide 1: 2017 AGM Chairman's Address and Presentation
ASX Announcement / Media Release GARDA Diversified Property Fund (GDF) 13 November 2017 For personal use only GARDA Diversified Property Fund 2017 AGM Chairman’s Address and Presentation Good morning Ladies and Gentlemen, it is 9:30am and as there is a quorum present, I declare this meeting open. We
Slide 2: Chairman's Address (continued)
This capital raising supports GDF’s acquisitions including the recently announced Botanicca 9 property which upon completion will take GDF’s Assets under management to approximately $295 million. The Manager, GCM has also announced this morning that it will take up its entitlement of approximately 2
Slide 3: GARDA Diversified Property Fund Annual General Meeting
For personal use only GARDA DIVERSIFIED PROPERTY FUND (GDF) ANNUAL GENERAL MEETING 13 NOVEMBER 2017
Slide 4: Important Information Disclaimer
IMPORTANT INFORMATION DISCLAIMER This presentation (Presentation) has been prepared on behalf of GARDA Capital Limited (ACN 095 039 366) (AFSL 246714) (GARDA) as responsible entity of the GARDA Diversified Property Fund ARSN 104 391 273 (GDF or the Fund). The information and statements in this Prese
Slide 5: Agenda
AGENDA For personal use only 1. BOARD OF DIRECTORS OF RESPONSIBLE ENTITY 2. EXECUTIVE CHAIRMAN’S WELCOME AND ADDRESS 3. QUESTIONS 4. BUSINESS OF THE MEETING 3 | GARDA DIVERSIFIED PROPERTY FUND AGM PRESENTATION
Slide 6: Board of Directors of Responsible Entity
BOARD OF DIRECTORS OF RESPONSIBLE ENTITY For personal use only MATTHEW MADSEN, EXECUTIVE CHAIRMAN MARK HALLETT, NON-EXECUTIVE DIRECTOR PHILIP LEE, NON-EXECUTIVE DIRECTOR LEYLAN NEEP, EXECUTIVE DIRECTOR 4 | GARDA DIVERSIFIED PROPERTY FUND AGM PRESENTATION
Slide 7: GDF v S&P/ASX A-REIT and Index
GDF V S&P/ASX A-REIT 200 AND 300 INDEX 9.57% and 8.77% respective outperformance against the S&P/ASX A-REIT 200 & 300 indices since IPO on 2 July 2015. For personal use only 15.97% and 15.37% respective outperformance against the S&P/ASX A-REIT 200 & 300 indices in the last 12 months. GDF.ASX XPK.AS
Slide 8: FY17 Operational Highlights
FY17 - OPERATIONAL HIGHLIGHTS ASX PERFORMANCE For personal use only 24.67% outperformance of the S&P/ASX A-REIT 200 index since July 2016. PORTFOLIO REVALUATIONS $19.0 million increase in the portfolio valuations during the financial year contributing to a $0.10 increase to NTA per unit. CAPITAL TRA
Slide 9: Results Overview
RESULTS - OVERVIEW For personal use only 30 June 2017($) 30 June 2016 ($) Movement Statutory Net Profit 20,121,000 17,864,000 12.6% Adjustments: Fair value movement in investment properties (9,517,000) (10,093,000) Loss of sale of investment properties 154,000 0 Net (gain)/loss of interest rate swap
Slide 10: Capital Transactions - Acquisitions
CAPITAL TRANSACTIONS - ACQUISITIONS For personal use only 69-79 Diesel Drive, Paget, QLD (Mackay) Lot 2001 Metroplex Westgate, Wacol, QLD 70-82 Main Beach Road, Pinkenba, QLD (Brisbane) (Brisbane) • August 2016 - acquired for $29.5 million on a capitalisation rate of 7.75%. • June 2017 - acquired fo
Slide 11: Botanicca 9, Richmond VIC Property Information
INSERT TITLE9, BOTANICCA HERE RICHMOND, VIC PROPERTY INFORMATION1 For personal use only Type Office Independent Valuation $62.5 million (net of incentives) Capitalisation Rate 5.75% Fully Leased Net Income $3,966,019 Total Costs excluding $52.0 million Incentives Site Area (m²) 3,621 Net lettable Ar
Slide 12: Botanicca 9, Richmond VIC Location
INSERT TITLE9, BOTANICCA HERE RICHMOND, VIC For personal use only 5km LOCATION • Only 4 kilometres from the Melbourne CBD in the highly sought after city fringe suburb of Richmond, the property forms part of the Botanicca Corporate Park. • GDF currently owns Botanicca 7 a 6,587m² A-Grade office buil
Slide 13: Melbourne City Fringe Market Overview
MELBOURNE CITY FRINGE MARKET OVERVIEW MARKET OVERVIEW – VACANCY AND SUPPLY For personal use only SUBURBAN MARKET COMPOSITION SUBURBAN PRECINCT COMPOSITION 177,026m2 Precinct NLA (m²) NLA (%) City Fringe 965,000 31.3% Inner East 576,547 18.7% Outer East 856,046 27.7% 461,204m 2 267,549m 2 South East
Slide 14: Market Overview - Vacancy Rates
MELBOURNE CITY FRINGE MARKET OVERVIEW MARKET OVERVIEW – VACANCY RATES For personal use only 14% 13.1% 12% 10.7% 10% 7.5% 8% 6.4% 6.3% 6.2% 5.9% 6% 4% 3.5% 2% 0% City Fringe Inner East Outer East South East North and Total Melbourne Sydney West Suburbs CBD CBD 12 | GARDA DIVERSIFIED PROPERTY FUND AGM
Slide 15: Market Overview - Future Supply and Pre-Commitment
MELBOURNE CITY FRINGE MARKET OVERVIEW MARKET OVERVIEW – FUTURE SUPPLY AND PRE-COMMITMENT • The adjoining graph shows what we believe to be the most likely/definite developments which will reach practical completion over the For personal use only next three years. • Neither 9-11 Cremorne Street or 60
Slide 16: Leasing Activity and Trends
MELBOURNE CITY FRINGE MARKET OVERVIEW LEASING ACTIVITY AND TRENDS Recent leasing deals in the city fringe market, including in the GDF owned Botanicca 7, reinforce the increasing rents achieved. For personal use only BOTANICCA BUSINESS PARK LEASING BY GARDA CAPITAL Building LCD Tenant Net Rent ($/m²
Slide 17: Property Portfolio
PROPERTY PORTFOLIO INDEPENDENT CAP PORTFOLIO For personal use only PROPERTY PORTFOLIO TYPE NLA (m2) WALE5 OCCUPANCY5 NABERS VALUATION¹ ($m) RATE VALUE 572-576 Swan Street, Richmond, VIC Office 41.0 6.50% 6,587 5.9 100% 5.0 14% 436 Elgar Road, Box Hill, VIC Office 25.0 7.75% 5,725 3.2 100% 2.5 9% 7-1
Slide 18: $295M Portfolio Upon Completion
$295M PORTFOLIO UPON COMPLETION For personal use only PORTFOLIO VALUE (by sector) CAIRNS 7-19 Lake Street, Cairns ($48.0m) Commercial 69% Industrial 31% MACKAY 69-79 Diesel Drive, Mackay ($29.5m) BRISBANE GOLD COAST 747 Lytton Road, Murarrie ($14.1m) 142 Benjamin Place, Lytton ($8.8m) Lot 2001 Metro
Slide 19: FY2018 Objectives
FY2018 OBJECTIVES For personal use only FY2018 OBJECTIVES • The Fund’s key objectives for FY2018 include: • Address the remaining lease expiries due in FY2018 and also the FY2019 expiries; • Reducing vacancy in the portfolio and associated lost income with a specific focus on Cairns; • Deliver the B
Slide 20: FY2018 Outlook
FY2018 OUTLOOK For personal use only OUTLOOK • GDF will continue to seek opportunities to grow AUM in lower incentivised markets. • GDF is specifically seeking: • Industrial assets in Brisbane; • Commercial office assets in Melbourne; and • Individual asset values of $20 million - $50 million. • GDF
Slide 21: Questions?
INSERT TITLE HERE For personal use only QUESTIONS? 19 | GARDA DIVERSIFIED PROPERTY FUND AGM PRESENTATION
Slide 22: Business of the Meeting
INSERT TITLE HERE For personal use only BUSINESS OF QUESTIONS? THE MEETING 20 | GARDA DIVERSIFIED PROPERTY FUND AGM PRESENTATION
Slide 23: Business of the Meeting
BUSINESS OF THE MEETING For personal use only 1. FY17 Financial Statements and Report 2. Resolution 1 – Ratification and approval of previous allotment and issue of Units 3. Resolution 2 - Approval of Additional 10% Placement Capacity The Chairman intends to vote all undirected proxies in favour of
Slide 24: FY17 Financial Statements and Report
1. FY17 FINANCIAL STATEMENTS AND REPORT To receive and consider the Annual Financial Report and Financial For personal use only Statements, the Directors’ Report and Auditor's Report for GARDA Diversified Property Fund for the financial year ended 30 June 2017. 22 | GARDA DIVERSIFIED PROPERTY FUND A
Slide 25: Resolution 1 - Ratification of Previous Allotment and Issue of Units
2. RESOLUTION 1 – RATIFICATION AND APPROVAL OF PREVIOUS ALLOTMENT AND ISSUE OF UNITS For personal use only To consider and, if thought fit, pass the following as an ordinary resolution: “That, for the purposes of ASX Listing Rules 7.4 and for all other purposes, Unitholders ratify and approve the is
Slide 26: Resolution 2 - Approval of Additional 10% Placement Capacity
3. RESOLUTION 2 – APPROVAL OF ADDITIONAL 10% PLACEMENT CAPACITY For personal use only To consider and, if thought fit, pass the following as a special resolution: “That, for the purposes of ASX Listing Rule 7.1A and for all other purposes, approval is given for the issue of Units up to an additional
Slide 27: Financial Results
For personal use only 01 FINANCIAL RESULTS GARDA DIVERSIFIED PROPERTY FUND ANNUAL GENERAL MEETING | 13 November 2017
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