Dipula Properties Limited Class B · JSE:DIB
Dipula Properties Limited Class B — Merger or Acquisition (2015)
8 slides from Dipula Properties Limited Class B's merger presentation, 2015
Slide 1: Moolman Transaction
MOOLMAN TRANSACTION 1 MOOLMAN TRANSACTION
Slide 2: Salient Facts
SALIENT FACTS | Effective date – 1 August 2015 | Total deal size – R858m @ 10.2% | Competition commission approval obtained | To be funded with a combination of debt and equity | Predominantly retail in good nodes | Some redevelopment opportunities | Rental guarantees of between 12 and 24 months | L
Slide 3: Salient Facts
SALIENT FACTS | Strong tenants | Excellent management | Income enhancing | Potential upside on re-letting some of the properties | Core portfolio compliments Dipula portfolio | Non-core assets will be sold | Strategically well positioned to do more deals with the vendor who retains 20% 3 MOOLMAN TRA
Slide 4: Moolman Portfolio
MOOLMAN PORTFOLIO TOTAL: BOXER – R853M TZANEEN NET INCOME: R87.5M YIELD: 10.2% SHOPRITE – SIBASA Sector Retail Sector Retail GLA 5 112m² GLA 5 907m² Purchase price R46.7m Purchase price R56.1m Average rental per m² R78 Average rental per m² R78 Cost per m² R9 130 Cost per m² R9 489 Cap rate 9.5% Cap
Slide 5: Moolman Portfolio
MOOLMAN PORTFOLIO FIN FORUM – PRETORIA GAME CENTRE – GROBLERSDAL Sector Retail Sector Retail GLA 5 848m² GLA 7 856m² Purchase price R90.2m Purchase price R98.7m Average rental per m² R150 Average rental per m² R101 Cost per m² R15 423 Cost per m² R12 568 Cap rate 10.0% Cap rate 9.0% Effective date A
Slide 6: Moolman Portfolio
MOOLMAN PORTFOLIO TOTAL: R853M PHANGAMI NET INCOME: R87.5M MALL – THOHOYANDOU YIELD: 10.2% SESHEGO CIRCLE – SESHEGO Sector Retail Sector Retail GLA 7 290m² GLA 15 066m² Purchase price R60.5m Purchase price R112.9m Average rental per m² R91 Average rental per m² R105 Cost per m² R8 293 Cost per m² R1
Slide 7: Moolman Portfolio
MOOLMAN PORTFOLIO TOTAL: R853M NET INCOME: R87.5M LIFESTYLE CENTRE – SOWETO YIELD: 10.2% Sector Retail GLA 10 434m² Purchase price R99.3m Average rental per m² R80 Cost per m² R9 512 Cap rate 9.5% Effective date August 2015 National tenants 95% Average lease period 3.2 years 7 MOOLMAN TRANSACTION
Slide 8: Contact Details
IZAK PETERSEN +27 11 325 2112 CONTACT DETAILS +27 82 823 1748 Block B Dunkeld Park 6 North Road Dunkeld West 2196 8 MOOLMAN TRANSACTION