Irish Residential Properties Reit Plc · EURONEXT:IRES
Irish Residential Properties Reit — EPRA Conference 2021
18 slides from Irish Residential Properties Reit's conference presentation, September 2021
Slide 1: Building Communities & Creating Value
Irish Residential Properties REIT plc Investor Presentation EPRA CONFERENCE SEPTEMBER 2021 Building Communities & Creating Value IRES REIT l INVESTOR PRESENTATION l SEPTEMBER 2021 1 1
Slide 2: Key Investment Highlights
IRISH RESIDENTIAL PROPERTIES REIT PLC (established 2013, securities listed on Euronext) Key Investment Highlights Ireland’s largest private landlord with a strong track record of accretive growth since inception Highly attractive market underpinned by strong economic fundamentals and significant dem
Slide 3: IRES REIT – Continuing strong growth and financial performance
IRES REIT – Continuing strong growth and financial performance › Ireland’s largest private residential landlord; c. 2% market, with 3,836 units across 36 properties1 Attractive Portfolio Delivering Sustainable Long-term Returns › Modern diversified portfolio in mid-tier segment, average age of asset
Slide 4: Continuing growth in revenue, earnings and dividends
CONTINUING GROWTH IN REVENUE, EARNINGS AND DIVIDENDS Revenue from Investment Properties Total Property Value › Occupancy robust at 98.6%1 (30 June 2020: 97.9%) 5.6% €74.7m €1,458m €62.1m › NRI margin remains strong at 79.5%1 (30 June 5.5% yoy €1,380m 2020: 79.2%) €39m €1,359m FY 2019 FY 2020 H1
Slide 5: Modern residential portfolio with strong operating metrics
MODERN RESIDENTIAL PORTFOLIO WITH STRONG OPERATING METRICS 4% <2 Young modern portfolio, average age of 12 years 12% 11% 2 to 4 ✓ Favourable for ongoing maintenance and CAPEX requirements 7% 5 to 7 ✓ C.59% with BER of A and B AGE 6% 8 to 10 (BER = Building Energy Rating) 11 to 13 60% 14 to 16 17+ 2%
Slide 6: Portfolio to build a sustainable and responsible business
PORTFOLIO TO BUILD A SUSTAINABLE AND RESPONSIBLE BUSINESS FOCUS IN 2021 › Development of Sustainable strategy and business planning › Board Sustainability Committee established Access the Reports here: › Annual ESG Report published in March 2021 BPR https://prodapp.epra.com/media/EPRA_BPR_Survey_Rep
Slide 7: Flexible growth plan with disciplined investment and capital allocation process
FLEXIBLE GROWTH PLAN ASSOCIATED WITH A DICIPLINED INVESTMENT AND CAPITAL ALLOCATION PROCESS Multi-channel growth strategy… 1 2 3 Acquisition of completed Development of existing Development partnerships assets I-RES properties • Continued evaluation of • Forward purchase • Partially completed new ac
Slide 8: Continued execution of growth strategy despite Covid-19
CONTINUED EXECUTION OF GROWTH STRATEGY DESPITE COVID-19 Investment Activity Continued through 2020 and 2021 95 5 151 148 55 18 Inbuilt # Units 3,836 portfolio 3,739 3,688 3,666 growth +18% FY 2019 FY 2020 Jan-21 Waterside Cross West conversion Phoenix Hansfield Priorsgate Disposal Wood II Tallaght C
Slide 9: Strong execution on a sustainable growth strategy – 2021 projects
STRONG EXECUTION ON A SUSTAINABLE GROWTH STRATEGY – 2021 PROJECTS ACQUISITIONS DEVELOPMENT IN PROGRESS FORWARD PURCHASE IN PROGRESS M50 Phoenix Park Racecourse, Dublin 15 M50 Bakers Yard, Dublin City Centre Merrion Road, Dublin 4 M50 › 146 units, adjacent to the Phoenix Park, › 61 units, designed to
Slide 10: Irish market - fundamentals supportive of long-term growth
IRISH MARKET - FUNDAMENTALS SUPPORTIVE OF LONG-TERM GROWTH Strong Continuous Population Growth Low Rental Stock Available 5.5m 1.6m 18,000 Dublin Elsewhere 16,000 5.3m 1.4m 14,000 5.0m 12,000 1.2m 10,000 4.8m #units 5.4m 5.2m 1.0m 8,000 4.5m 5.1m 4.8m 4.9m 6,000 4.7m 4.3m 4.6m 0.8m 4,000 2,000 4.0m
Slide 11: Key investment attractions of IRES REIT
KEY INVESTMENT ATTRACTIONS OF IRES REIT Attractive and Growing Irish Multifamily Sector Favourable population Structural housing Strong Irish Yields on multifamily Growth and strong demographics supply / demand economic assets remain job creation and trend towards imbalance fundamentals attractive,
Slide 12: Appendices
ROCKBROOK | DUBLIN 18 TIME PLACE | DUBLIN 18 APPENDICES ELMPARK GREEN | DUBLIN 4 WATERSIDE | MALAHIDE PHOENIX PARK RACECOURSE | DUBLIN 15 IRES REIT l INVESTOR PRESENTATION l SEPTEMBER 2021 12 9
Slide 13: Diverse portfolio in the Dublin area
DIVERSE PORTFOLIO IN THE DUBLIN AREA IRES REIT l INVESTOR PRESENTATION l SEPTEMBER 2021 13
Slide 14: Investment: 146 units at Castleknock, Dublin 15
ACQUISITION DEVELOPMENT PARTNERSHIPS DEVELOPMENT EXISTING ASSETS INVESTMENT: 146 UNITS AT CASTLEKNOCK, DUBLIN 15 M50 Phoenix Park Racecourse, Castleknock, Dublin 15 Purchase Price1 €60 million Gross Initial Yield 5.3% Year built Phased 2002-2020 Closing date January 2021 Total units 1 bed 20 3 bed 1
Slide 15: Forward purchase in progress: development at Merrion Road, Dublin 4
ACQUISITION DEVELOPMENT DEVELOPMENT EXISTING ASSETS PARTNERSHIPS FORWARD PURCHASE IN PROGRESS: DEVELOPMENT AT MERRION ROAD, DUBLIN 4 Merrion Road, Dublin 4 M50 Acquisition €47.16m Gross Yield 5.1%2 (Apr-21) Contract (Year 1) 5.6% (Nov-18) Price1 Contracted date November 2018 Expected closing date3 H
Slide 16: Development in progress: Bakers Yard, Dublin City Centre
ACQUISITION DEVELOPMENT PARTNERSHIPS DEVELOPMENT EXISTING ASSETS DEVELOPMENT IN PROGRESS: BAKERS YARD, DUBLIN CITY CENTRE Bakers Yard, North Portland Street, City Centre, Dublin M50 Development Costs €16 million Gross Yield 6.1%1 (Year 1) Expected Completion2 2022 Total units3 1 bed 19 3 bed - 61 2
Slide 17: Disclaimer
DISCLAIMER Cautionary Statements of this presentation or its contents or otherwise arising in To the extent indicated, certain industry, market and This presentation has been prepared by Irish Residential connection with this presentation. Certain financial and competitive position data contained in
Slide 18: Irish Residential Properties REIT plc contact
Irish Residential Properties REIT plc South Dock House Hanover Quay DO2 XW94 Ireland www.investorrelations.iresreit.ie IRES REIT l INVESTOR PRESENTATION l SEPTEMBER 2021 18
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