Precinct Properties Nz Ltd & Precinct Properties Investments Ltd · NZX:PCT
Precinct Properties Nz Ltd & Precinct Properties Investments — Precinct Properties New Zealand — Investor Presentation (2015)
22 slides from Precinct Properties Nz Ltd & Precinct Properties Investments's investor presentation, 2015
Slide 1: Commercial Bay
“7p NS COMMERCIAL BAY < % Precinct
Slide 2: Commercial Bay
Page 2 Commercial Bay
Slide 3: Highlights
Highlights Page 3 ■ Commercial Bay will restore the waterfront as the heart of Auckland city ■ Major Queen Street retail development and landmark office tower ■ Retail centre comprises: – Unique laneway environment over three levels – 130m of Queen Street retail with around 100 new stores ■ Office t
Slide 4: History
History Page 4 ■ The precinct was named Commercial Bay in the 1800’s due to its importance as a place of transport, trade and commerce ■ This history has informed the name and brand for the development and its surroundings Above: Commercial Bay 1841. The sheltered anchorage was the natural place to
Slide 5: Project description
Project description Page 5 Retail ■ 3 levels of retail which includes HSBC Building & Zurich House ■ 18,000sqm of NLA ■ Around 100 retail stores ■ Retail frontages to Queen St, Albert St, Quay St & Customs St Office ■ 30 levels of office above sky lobby ■ Sky lobby positioned above retail ■ Floor pl
Slide 6: Programme
Programme Page 6 Nov-13 Oct-14 Nov-14 Feb-15 Mar-15 Apr-15 May-15 Oct-15 Nov-15 Dec-15 Jun-16 Dec-17 Oct-18 Dec-18 Jun-19 Commencement of Masterplan Concept design complete Executed CRL Development Agreement Preliminary design complete Resource consents received Developed design complete Constructio
Slide 7: Page 7 BUS BUS
Page 7 BUS BUS Zurich BUS HSBC BUS PWC AMP CAR PARK
Slide 8: Masterplan design
Masterplan design Page 8 Quay St Lower Lower Albert Queen St St Customs St
Slide 9: Civic space (lower Queen street)
Civic space (lower Queen street) Page 9
Slide 10: Laneway experience
Laneway experience Precinct @ZCOMMERCIAL (5x3
Slide 11: A new level of retail
A new level of retail Precinct erm a: u im, Fe nae Pe: li @ZCOMMERCIAL (Sy
Slide 12: Retail opportunity
Retail opportunity Page 12 ■ Provides 130 metres of new prime Queen Street frontage next to adjacent civic space ■ CBD retail resurgence and growing weekend trade – Strong pedestrian numbers (9.3 million cnr Queen St and Customs St) – Queen Street overtaking other traditional retail locations ■ Crea
Slide 13: Retail leasing
Retail leasing Page 13 ■ Opportune timing to capture growing retail demand with low CBD vacancy, a shortage of quality stock and international brands seeking CBD flagship store presence ■ Significant interest from retailers and food and beverage (F&B) operators ■ Negotiations commenced for ‘flagship
Slide 14: PwC Tower at Commercial Bay
PwC Tower at Commercial Bay Page 14 ■ Diagrid structural steel frame ■ Curtain wall glass façade ■ Importance level 4 or 180% NBS structural strength ■ 5 green star rating
Slide 15: Tower design
Tower design Page 15 ■ Elevated sky lobby complemented by a 1,400m2 outdoor terrace ■ The floor plate is specifically designed to meet the needs of the contemporary workplace – an open space with minimal column intrusion (3 on floor columns) – 3.1 metre ceiling height with floor to floor glazing ■ O
Slide 16: Tower experience
Tower experience Page 16 ■ Campus style floor plates in the sky ■ Floor plate capable of accommodating all workplace designs ■ Premium finishes
Slide 17: Office leasing
Office leasing Page 17 ■ Office Tower is 52% leased ■ Anchored by PwC and will be known as PwC Tower ■ Average term of office leases is 13 years commencing June 2019 with a range of 10-15 years each ■ Rent reviews include structured growth with market resets ■ Commitments made in mid and high rise c
Slide 18: Financial overview
Financial overview Page 18 ■ Total project cost of $681 million Financial summary ■ Spend to date of c.$16 million with an Spent to date (ex revaluations) $108 m incremental spend of $573 million Incremental Spend $573 m ■ Expected yield on cost of 7.5% Total Project Costs $681 m 1 Yield on Cost 7.5
Slide 19: Funding and earnings
Funding and earnings Page 19 Funding ■ Deleveraging achieved over the previous 12 months providing sufficient balance sheet capacity ■ Commercial Bay project to be funded by new 5 year bank debt facility – ANZ, BNZ, CBA, HSBC and Westpac ■ No refinance risk during development period ■ Existing USPP
Slide 20: Summary
Summary Page 20 ■ Precinct has a clear strategy of concentrated ownership of prime assets in strategic locations ■ Commercial Bay project further progresses the business in line with its strategy which will result in: – Younger portfolio reducing capital requirement and increasing cash on cash retur
Slide 21: Page 21
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Slide 22: Disclaimer
Disclaimer Page 22 The information and opinions in this presentation were prepared by Precinct Properties New Zealand Limited or one of its subsidiaries (Precinct). Precinct makes no representation or warranty as to the accuracy or completeness of the information in this presentation. Opinions inclu
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