Grit Real Estate Income Group Limited · LSE:GR1T
Grit Real Estate Income — Corporate Update (March 2019)
21 slides from Grit Real Estate Income's corporate update, March 2019
Slide 1: Mauritius Site Visit March 2019
MAURITIUS SITE VISIT MARCH 2019
Slide 2: Contents
Contents Group Overview Country Overview Portfolio Overview Ι 2
Slide 3: Hosting Today
Hosting Today Bronwyn has significant corporate finance and deal making experience. She played an instrumental role in the JSE listing of Delta Property Fund Limited in 2012 where she held the positions of Chief Financial Officer and Chief Operating Officer prior to taking up the leadership role at Mara
Slide 4: Hosting Today
Hosting Today After completing articles with PwC, Leon moved to the Global Risk Management Services within PwC, where he become the Senior Manager in charge of Data Management. In 2004, he moved to Solenta Aviation where he became Group Finance Director within 18 months. During his tenure as Group F
Slide 5: Group Overview
GROUP OVERVIEW
Slide 6: Designed to Perform
Designed to Perform Delivering attractive, stable & sustainable shareholder returns through selective risk mitigated investments Talented team Margins of HardSafety currency Strong & broad African Experienced, well-resourced 01 team, in-country management, Hard currency management exposure alignment
Slide 7: Socio-economic Impact
Socio-economic Impact Grit Group - Total 97 Employees Grit Services Ltd - 51 Employees 70 Local: 27 Expat Gender Distribution 32 Female: 19 Male [CATEGORY NAME] Expat 28% [PERCENTA GE] Local 72% Male 44% Ι 7
Slide 8: Attractive & Diversified Portfolio
Attractive & Diversified Portfolio 7 countries, 5 asset classes, 25 assets1 Total Portfolio Properties Value4 acquired (US$m) Occupancy2 96.0% at reporting date Office: 2 HY19 Corp. Accomm: 1 796.4 Light Industrial: 2 FY18 Occupancy2 Corp. Accomm: 1 96.6% 31 Jan ‘19 642.3 Office: 1 Other: 1 Country Valu
Slide 9: Strength of Counterparty
Strength of Counterparty Successful delivery of hard currency income from multi-national tenants % Rental Contribution to Portfolio by Tenancy Classification [VALUE] 92.3% multinational tenants1 5% 15% 35% 64.5% rental income top 15 tenants 93.2% income hard currency 43% weighted ave. annualised 3.1
Slide 10: Current Investment Jurisdictions
Current Investment Jurisdictions GDP Growth p.a. GDP per Capita Population Countries Portfolio Moody’s Sovereign Rating Stability since 2010 (PPP) (M) Mozambique 38.1% Caa3 5.9% $1,294 30.3 Grit Current Investment Botswana 0.3% A2 4.9% $8,168 2.3 Jurisdictions Mauritius 22.7% Baa1 3.8% $23,597 1.3 G
Slide 11: Country Overview
COUNTRY OVERVIEW
Slide 12: Why Mauritius?
Why Mauritius? Ability to list in USD on the Mauri+us Stock Exchange 1st in Africa Pool of liquidity and support from ins+tu+onal investors in Mauri+us • World Bank Doing Business Survey 2017 Mauri+us as a financial hub in the region and gateway to Africa • 2018 Index of Economic Freedom (Heritage Fo
Slide 13: Country Risk Assessment - Mauritius
Country Risk Assessment - Mauritius KEY DEVELOPMENTS KEY STRENGTHS KEY RISKS • The country is also exposed to external shocks through • Bank of Mauritius (BoM) is expected to keep its key • Mauritius has had historically a stable political environment the economy's openness, high dependence on food
Slide 14: Portfolio Overview
PORTFOLIO OVERVIEW
Slide 15: Canonnier Golf Resort & Spa
Canonnier Golf Resort & Spa LocaLon: Pointe aux Canonniers Sector: Hospitality Property Yield: 7.5% GLA: 25,248m² Rental per m²: $16.18 Vacancy: 0% WALE: 13 years EscalaLon: 1.7% Current ValuaLon: US$25.5 million Anchor Tenant: Beachcomber Ι 15
Slide 16: Mauricia Resort & Spa
Mauricia Resort & Spa LocaLon: Grand Baie Sector: Hospitality Property Yield: 7.5% GLA: 23,266m² Rental per m²: $11.92 Vacancy: 0% WALE: 13 years EscalaLon: 1.7% Current ValuaLon: US$23.5 million Anchor Tenant: Beachcomber Ι 16
Slide 17: Victoria Resort & Spa
Victoria Resort & Spa LocaLon: Pointe aux Piments Sector: Hospitality Property Yield: 7.5% GLA: 41,696m² Rental per m²: $14.52 Vacancy: 0% WALE: 13 years EscalaLon: 1.7% Current ValuaLon: US$42.1 million Anchor Tenant: Beachcomber Ι 17
Slide 18: Tamassa Resort
Tamassa Resort LocaLon: Bel Ombre Sector: Hospitality Property Yield: 7.5% GLA: 21,567m² Rental per m²: $13.34 Vacancy: 0% WALE: 8 years EscalaLon: 0% Current ValuaLon: US$52.2 million Anchor Tenant: LUX* Ι 18
Slide 19: Barclays House
Barclays House LocaLon: Cybercity - Ebène Sector: Office Property Yield: 7.6% GLA: 8,269m² Rental per m²: $11.81 Vacancy: 4.6% WALE: 8 years EscalaLon: 5% Current ValuaLon: US$15.6 million Anchor Tenant: Barclays Ι 19
Slide 20: Thank you
Thank you Grit Real Estate Income Group Reg. No. C128881 3rd floor, La Croisette Shopping Centre, Grand Baie 30517, Mauritius Level 3, Alexander House, 35 Cybercity Ebene 72201, Mauritius T +230 269 7090 E communications@grit.group
Slide 21: Disclaimer
Disclaimer This report has been issued and approved for use by you solely for your information and should not be considered to be an offer or solicitation of an offer to buy or sell or subscribe for any securities, financial instruments or any rights attaching to such securities or financial instrumen
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