Slide 1: Operational update
operational update For personal use only by mirvac 17 MAY 2011 8 Chifley Square, Sydney, NSW
Slide 2: Contents
Contents For personal use only mirvac overview 2 investment 3 development 7 > Commercial > Residential sustainability update 11 GUIDANCE and outlook 12 MIRVAC operational update 17 May 2011 page 1
Slide 3: Mirvac overview
MIRVAC overview For personal use only 80% 1 Office – 57.2% 3 investment – MPT retail – 30.6% 3 Invested capital – $5,805m 2 other – 12.2% 4 20% 1 apartments – 41.7% Residential $1,463.2m masterplanned communities – 39.8% development 81.0% integrated housing – 18.5% Invested capital – industrial – 68
Slide 4: MPT Portfolio Highlights
MPT Portfolio Highlights For personal use only MPT 31 Mar 2011 > Solid like-for-like net income growth 31 Mar 2011 Like-for-like of 4.2 per cent Sector Occupancy income growth 1 WALE > High portfolio occupancy rate Office 97.8% 4.9% 6.5 of 98.2 per cent Retail 99.1% 4.3% 6.2 > Strong WALE of 6.0 yea
Slide 5: MPT Portfolio Highlights: office and retail
MPT Portfolio Highlights For personal use only office > Continued strong office performance MPT Office Portfolio Mar 11 % of Portfolio Premium > Achieved 41.6 1 per cent occupancy or A Grade 88.8% at 10-20 Bond Street, Sydney, ahead of FY11 rent reviews fixed or CPI 96.2% 30 June target of 40.0 per
Slide 6: Key commercial 3Q Achievements
Key commercial 3Q Achievements For personal use only Redevelopment 20 Bond Street, Sydney, NSW > Total leasing commitment stood at 41.6 per cent 1 as at 31 March 2011 > Post 31 March 2011 leasing momentum maintained > Ahead of 30 June 2011 target of 40 per cent Wholesale partnerships 8 Chifley Squar
Slide 7: Commercial market update
commercial Market update For personal use only Market evidence supports overweight office strategy Office Weighting Management The CBD national office vacancy rate has declined steadily from the peak of 8.2 per cent recorded in mid-2010. By forecast March 2011 the vacancy rate was 7.4 per cent with
Slide 8: Settlements and Pre-sales Update
Settlements and Pre-sales Update For personal use only Mirvac’s position as Australia’s pre-eminent residential developer is evidenced by $1,096m of exchanged pre-sales contracts 1 up 30 per cent on 31 December 2010 Settlements > FY11 settlement forecast of 1,700 lots > 1,011 lots settled by the end
Slide 9: Key residential development 3Q Achievements
Key residential development 3Q Achievements For personal use only Residential development ERA, Chatswood, NSW 1 > 94 per cent sold out at initial release > Average price $1.0m per apartment > $273.5m in exchanged contracts > Project speed to market — in 9 weeks project moved from planning approval t
Slide 10: Residential market outlook
residential market outlook For personal use only Fundamental mismatch between supply and demand with low levels of completions supporting price and rental levels through 2011 NSW Weighting Management After several years of under-performance, stronger population growth in NSW is evident as interstate
Slide 11: Major current and near term projects
Major current and near term projects For personal use only 73.9 per cent of next 12 months project pre-sales to be released into stable markets of NSW and Victoria Settlement Lots Net revenue 1 Released Division Project Stage Status Ownership year Lots pre-sold $m 4 VIC Harcrest Stage 1 & 2 Under Co
Slide 12: Key sustainability achievements
key sustainability achievements For personal use only Mirvac will continue to lead in sustainable firsts due to its comprehensive sustainability program, including a top-down focus, with 188 publicly communicated sustainability objectives. Some achievements include: > First office tower in Australia
Slide 13: Guidance and outlook
GUIDANCE and outlook For personal use only Guidance FY11 Forecast Group operating NPAT $356 – $365m Forecast implied EPS growth 11.8 – 14.0% Forecast operating EPS 10.4 – 10.6cpss Forecast DPS 8.0 – 9.0cpss Forecast weighted average securities 3,423m FY12 Outlook > Continued contribution from commer
Slide 14: Disclaimer and important notice
DISCLAIMER AND IMPORTANT NOTICE For personal use only Mirvac Group comprises Mirvac Limited ABN 92 003 280 699 and Mirvac Property This Presentation contains certain “forward looking” statements. The words Trust ARSN 086 780 645. This presentation (“Presentation”) has been prepared “anticipated”, “e
Slide 15: Thank you
For personal use only Thank you