Sa Corporate Real Estate Ltd. · JSE:SAC
Sa Corporate Real Estate — Investor Presentation (December 2022)
13 slides from Sa Corporate Real Estate's investor presentation, Dec 9, 2022
Slide 1: SA Corporate Pre-close Update Presentation
SA Corporate Pre-close Update Presentation 9 December 2022
Slide 2: Agenda
AGENDA • LFL NPI Portfolio Performance • Traditional Portfolio Performance • Afhco Portfolio Performance • Afhco Residential Leasing Performance • Zambian Portfolio Performance • Strategy Update: ‒ Financial Sustainability ‒ Convenience Oriented Retail Portfolio ‒ Quality Industrial Property Portfol
Slide 3: LFL NPI Portfolio Performance
LFL NPI Portfolio Performance 30 Oct 22 Sector YTD LFL NPI Commentary Growth Strong rental growth from long-term leases at 57 Sarel Baard, 112 Yaldwyn, Cnr Staal and Stephenson, 27 Jetpark, Erf Bardene and Beryl Street curtailed by Industrial 2.6% rental reversions at 1 Baltex, Cnr Gielbasson and Na
Slide 4: Traditional Portfolio Performance
Traditional Portfolio Performance Vacancy Anticipated Vacancy Sector Comments 31-Oct-22 31-Dec-22 Remaining 757m2 vacancy is office space in otherwise fully let industrial Industrial 0.82% 0.18% property in Westmead. Trading density growth for 10 months YTD = +6.1%. Leasing in Q4 to Retail 3.9% 3.6%
Slide 5: Afhco Portfolio Performance
Afhco Portfolio Performance Vacancy Anticipated Vacancy Sector Comments 31-Oct-22 31-Dec-22 Occupancy declines to year end due to seasonal movements typical at this Residential 2.4% 4.5% time of year. Space that became vacant immediately tenanted; actively pursuing leasing Retail 5.1% 5.2% of remain
Slide 6: Afhco Residential Leasing Performance
Afhco Residential Leasing Performance 6
Slide 7: Zambia Portfolio Performance
Zambia Portfolio Performance Anticipated Vacancy Sector Vacancy Comments 31-Oct-22 2022 Vacancy reduced as a result of 850m2 of space let to a multi-national clothing East Park Mall 2.8% 1.6% retailer and a restaurant. Phases 5 and 6 are now 98.5% occupied with only 180 m2 of lettable GLA available.
Slide 8: Strategy Update: Financial Sustainability
Strategy Update Strategic Focus Financial Sustainability • YTD collections: Retail: 99.4%; Industrial: 98.1%; Commercial: 97.4%; Afhco (excl. Student Accom.): 100.0% • SASRIA Claim: Received R275.9 million to date. A further R81.6 million certified for payment with remaining final settlement of circ
Slide 9: Convenience Oriented Retail Portfolio
Convenience Oriented Retail Portfolio 31-Dec-21 31-Oct-22 4.6% 3.9% VACANCY NEW LEASING VACANCY GLA (m2) 28 041 National 75.8% 57.6% tenancy Convenience 70.4% 63.7% NATIONAL NATIONAL TENANCY TENANCY 41.7% 56.0% CONVENIENCE CONVENIENCE 9
Slide 10: Strategy Update: Quality Industrial Property Portfolio
Strategy Update Strategic Focus Quality Industrial Property Portfolio Lease Renewals Renewal Renewal Expiry 2022 YTD 31 Oct 22 2022 Forecast % of % % Portfolio Reversion Reversion Comments Extent Renewed Renewed GLA 12.66% vacated and re-let, Total 56,320 13.22% 81.67% -5.01% 83.80% -3.60% 4% held f
Slide 11: Strategy Update: Quality Residential Portfolio
Strategy Update Strategic Focus Quality Residential Portfolio Improving Portfolio Quality Metric Dec-21 Oct-22 Vacancy 8.5% 2.4% Arrears less credits R17.5 m R7.3 m Average tenant 19 months 21 months occupation Renewal increase 0.5% 2.6% Refining Portfolio Through Disposals • First tranche of Firstm
Slide 12: Strategy Update: Divesting from Commercial
Strategy Update Strategic Focus Divesting from Commercial • 31 Allen Drive, Belville: sale unconditional and transfer anticipated by end December 2022. • Nobel Street, Bloemfontein: readying for divestment; 1 340m2 vacancy leased, with a further 1069m2 under negotiation, 20.8% of GLA being repurpose
Slide 13: SA Corporate Real Estate
13 SA CORPORATE REAL ESTATE ft AFHCO
SA Corporate Real Estate — Investor Presentation (December 2022) on 6ix