Centuria Office Reit · ASX:COF
Centuria Office Reit — Citi 12th Annual Australian and New Zealand Investment Conference 2020
16 slides from Centuria Office Reit's conference presentation, Oct 15, 2020
Slide 1: Centuria Office REIT Citi Australia and New Zealand Investment Conference Presentation
Centuria Office REIT (COF) For personal use only Citi Australia and New Zealand Investment Conference Presentation SYDNEY (Thursday, 15 October 2020) - Centuria Property Funds Limited (CPFL), as Responsible Entity of Centuria Office REIT (ASX: COF), provides a presentation that will be used at the C
Slide 2: Citi Australia & New Zealand Investment Conference
Citi Australia & New Zealand Investment Conference A S X:COF 15 Oct 2020 For personal use only Centuria Office REIT CENTURIA OFFICE REIT ASX:COF 1 235 WILLIAM STREET, NORTHBRIDGE, WA
Slide 3: COF is aligned to a highly experienced real estate funds manager
COF is aligned to a highly experienced real estate funds manager (ASX:CNI) For personal use only Market capitalisation1 of $1.2bn, included in the S&P/ASX300 Index $0.6bn $9.5bn 53% $6.2bn AUM growth on FY19 Group AUM2 CNI Co-Investments FY19 AUM on balance sheet $0.8bn $213.0m3 (19.9%) $8.7bn Real
Slide 4: COF Key metrics – Australia's largest ASX-listed pure play office REIT
CENTURIA MANAGEMENT COF Key metrics – Australia’s largest ASX-listed pure play office REIT For personal use only PORTFOLI O FI NANCI AL 23 $2.1bn 8.1% Distribution paid in Forecast FY21 equal quarterly High quality assets Portfolio value DPU yield3 instalments 95.9% 4.5yrs 34.5% $131.0m Portfolio oc
Slide 5: COF - Strategic vision and objectives
COF - Strategic vision and objectives For personal use only VISION To build Australia’s leading pure play office REIT A CLEAR Focused on generating sustainable and quality income streams and executing AND SIMPLE initiatives to create value across a portfolio of quality Australian office assets STRAT
Slide 6: COF provides quality, highly connected and affordable office space
ASSET QUALITY COF provides quality, highly connected and affordable office space For personal use only A portfolio positioned to meet COF has no single market concentration changing tenant demand Connectivity with key transport nodes & reduced commute time Access to recreational 235 WILLIAM STREET,
Slide 7: COF - A high-quality pure play office portfolio
COF - A high-quality pure play office portfolio For personal use only PORTFOLIO SNAPSHOT 1QFY21 PORTFOLIO WEIGHTING Number of assets # 23 Book value1 $m 2,053.3 QLD 24.0% WACR1 % 5.93 WA 14.0% NLA sqm 304,437 86.3 3.4 99.4 6.1 OCCUPANCY(%) WALE(YRS) Occupancy2 % 95.9 OCCUPANCY(%) WALE(YRS) WALE3 yrs
Slide 8: COF – A staggered lease profile to quality tenants
COF – A staggered lease profile to quality tenants For personal use only 4.1% • Over 25% of income derived from government WEIGHTED AVERAGE LEASE EXPIRY (% BY INCOME) Portfolio NLA leased in 1QFY213 tenants with the Federal Government representing Income WALE (Jun-20) 4.7 yrs Income WALE (Sep-20) 4.
Slide 9: Resilient performance and prudent management through COVID-19
Resilient performance and prudent management through COVID-19 100 BROOKES STREET, FORTITUDE VALLEY, QLD For personal use only In house c.94% Over 80% of income derived from government, Average rent c.$1.0m c.58% 1.1% management facilitate greater tenant engagement listed and MNC collections April Ju
Slide 10: Commercial office remains core to business operations
Commercial office remains core to business operations For personal use only Benefits working from the office • Maintaining professional relationships with stakeholders & colleagues • Executing workstreams that require person to person contact • Establishes work life and personal life separation • In
Slide 11: Commercial office remains core to business operations
Commercial office remains core to business operations For personal use only “I think this pandemic will make us all realise that no matter how much technology we have, nothing beats human interaction.” - Ruslan Kogan, CEO Kogan (source: AFR) Facebook have leased 730,000sq ft (68,000sqm) in New York
Slide 12: Recent commercial transactions re-enforce pre-COVID pricing
Recent commercial transactions re-enforce pre-COVID pricing For personal use only PROPERTY STATE DATE PRICE ($m) CAP RATE RATE ($psqm) OCCUPANCY WALE Pinnacle, 4 Drake Street, Macquarie Park1 NSW Sep-20 306.0 ~5.25% 8,777 96.4% 4.60 2 Banfield Road, Macquarie Park1 NSW Aug-20 145.0 ~5.00% 9,900 74.9
Slide 13: Prime space continues to attract tenants & COF exposed markets remain affordable
Prime space continues to attract tenants & COF exposed markets remain affordable For personal use only CHANGE FROM VACANCY RATES 30 SEP 201 TOTAL 30-SEP-19 PRIME RENTS 30 SEP 201 NET EFFECTIVE 30-SEP-19 Sydney CBD 10.2% 4.6% $721 -12.8% Sydney CBD Chatswood 19.1% 6.1% $410 -4.6% Chatswood St Leonard
Slide 14: Summary
Summary For personal use only Over 80% of income 8.1%1FORECAST derived from government, listed and MNC DISTRIBUTION YIELD Over 60% of portfolio leases expire at or DISTRIBUTIONS PAID IN EQUAL beyondFY24 QUARTERLY INSTALMENTS NISHI, 2 PHILLIP LAW STREET, CANBERRA, ACT 1. Based on COF closing price of
Slide 15: Disclaimer
For personal use only Disclaimer This presentation has been prepared by Centuria Property Funds Limited (ABN 11 086 553 639, AFSL The information in this presentation has been obtained from and based on sources believed by CPFL 231 149) (CPFL) as responsible entity of Centuria Office REIT (ARSN 124
Slide 16: For personal use only
For personal use only CENTURIA OFFICE REIT ASX:COF 15
Centuria Office REIT — Citi 12th Annual Australian and New Zealand Investment Conference 2020 on 6ix