Centuria Office Reit · ASX:COF
Centuria Office Reit — BAML Australian Real Estate Conference 2017
24 slides from Centuria Office Reit's conference presentation, Oct 25, 2017
Slide 1: Centuria Metropolitan REIT
CENTURIA METROPOLITAN REIT I Q1 FY17 OPERATING UPDATE I CMA:ASX I 25 OCTOBER 2017 Centuria Metropolitan REIT BAML Australian Real Estate Conference 25 October 2017 576 SWAN STREET, RICHMOND, VIC
Slide 2: Introduction
CENTURIA METROPOLITAN REIT I Q1 FY17 OPERATING UPDATE I CMA:ASX I 25 OCTOBER 2017 1 Introduction 2 Portfolio Overview 3 Market Overview 4 Q1FY18 Update 5 Guidance & Strategy 6 Investment Portfolio PAGE 1 144 STIRLING STREET, PERTH, WA
Slide 3: Introduction
CENTURIA METROPOLITAN REIT I Q1 FY17 OPERATING UPDATE I CMA:ASX I 25 OCTOBER 2017 Section 1 Introduction
Slide 4: Introduction
CENTURIA METROPOLITAN REIT I Q1 FY17 OPERATING UPDATE I CMA:ASX I 25 OCTOBER 2017 Introduction Australia’s largest ASX listed metropolitan office REIT Market capitalisation over $500m1 and included in the S&P/ASX 300 Index Managed by Centuria Capital Limited (ASX:CNI), a specialist fund manager with
Slide 5: History of Centuria Metropolitan REIT
CENTURIA METROPOLITAN REIT I Q1 FY17 OPERATING UPDATE I CMA:ASX I 25 OCTOBER 2017 History of Centuria Metropolitan REIT $2.80 Announces intention to acquire a CUA unitholders CMA is added to CMA and Centuria Capital 8.76% interest in 360 Capital Office approve merger. the S&P/ASX 300 CMA successfull
Slide 6: Centuria profile
CENTURIA METROPOLITAN REIT I Q1 FY17 OPERATING UPDATE I CMA:ASX I 25 OCTOBER 2017 Centuria profile ASX-listed specialist investment manager Centuria Capital Group $4.3b FUM 1 Listed Property Industrial REIT (CIP) Unlisted Property Centuria Diversified Investment Centuria Life $1.0b FUM Property Fund
Slide 7: Portfolio Overview
CENTURIA METROPOLITAN REIT I Q1 FY17 OPERATING UPDATE I CMA:ASX I 25 OCTOBER 2017 Section 2 Portfolio Overview
Slide 8: Geographically well diversified portfolio
CENTURIA METROPOLITAN REIT I Q1 FY17 OPERATING UPDATE I CMA:ASX I 25 OCTOBER 2017 Portfolio composition Geographically well diversified portfolio Portfolio Snapshot Q1 FY17 1 FY17 Number of assets # 18 15 QLD 35 Robina Town Centre Drive, Robina Book value $m 760.0 610.0 555 Coronation Drive, Brisban
Slide 9: Tenancy profile
CENTURIA METROPOLITAN REIT I Q1 FY17 OPERATING UPDATE I CMA:ASX I 25 OCTOBER 2017 Tenancy profile Earnings growth underpinned by high quality tenants and contracted rental growth Rental reviews 1 Tenancy profile by size cohort (by no. tenant) 1 Tenant diversification (top 10 tenants by gross income)
Slide 10: Market Overview
CENTURIA METROPOLITAN REIT I Q1 FY17 OPERATING UPDATE I CMA:ASX I 25 OCTOBER 2017 Section 3 Market Overview
Slide 11: Positive economic indicators
CENTURIA METROPOLITAN REIT I Q1 FY17 OPERATING UPDATE I CMA:ASX I 25 OCTOBER 2017 Market Overview Positive economic indicators - Long period of sustained economic growth - Population growing at 1.6% yoy, fastest rate since Q1 2014 – underpinning demand for warehouse space - Employment growth is robu
Slide 12: Office Market Drivers
CENTURIA METROPOLITAN REIT I Q1 FY17 OPERATING UPDATE I CMA:ASX I 25 OCTOBER 2017 Office Market Drivers On the back of strong office demand, markets have tightened over the past year, particularly in Sydney and Melbourne. Population and employment expectations suggest demand will remain solidly unde
Slide 13: Metropolitan Office Markets
CENTURIA METROPOLITAN REIT I Q1 FY17 OPERATING UPDATE I CMA:ASX I 25 OCTOBER 2017 Metropolitan Office Markets The tightness of the CBD office markets, in conjunction with limited additional space, will boost the demand for metropolitan offices Office Market Yields and Yield Differentials Leading to:
Slide 14: Q1 Portfolio Update
CENTURIA METROPOLITAN REIT I Q1 FY17 OPERATING UPDATE I CMA:ASX I 25 OCTOBER 2017 Section 4 Q1 Portfolio Update
Slide 15: Portfolio metrics
CENTURIA METROPOLITAN REIT I Q1 FY17 OPERATING UPDATE I CMA:ASX I 25 OCTOBER 2017 Portfolio metrics Active management drives performance from multi-tenant assets Portfolio Snapshot Q1 FY18 1 FY17 Weighted Average Lease Expiry 1,3 Occupancy 2 % 98.6 97.3 60% 52.3% FY18 expiries 3 % 3.6 6.0 50% WALE 3
Slide 16: Leasing update
CENTURIA METROPOLITAN REIT I Q1 FY17 OPERATING UPDATE I CMA:ASX I 25 OCTOBER 2017 Leasing update Focus on leasing to maximise occupancy and income Lease transactions 54 Marcus Clarke Street, Canberra, ACT No. of transactions 3 sqm 1,167 4.3 years Portfolio WALE1,2 60 Marcus Clarke Street, Canberra,
Slide 17: Capital Management
CENTURIA METROPOLITAN REIT I Q1 FY17 OPERATING UPDATE I CMA:ASX I 25 OCTOBER 2017 Capital Management Maintained a disciplined balance sheet Key debt metrics Q1 FY18 FY17 Debt Maturity Profile Debt Maturity Profile Facility limit ($m) 260 260 $100 Drawn amount ($m) 204.5 189.5 $80 Undrawn capacity ($
Slide 18: Guidance & Strategy
CENTURIA METROPOLITAN REIT I Q1 FY17 OPERATING UPDATE I CMA:ASX I 25 OCTOBER 2017 Section 5 Guidance & Strategy
Slide 19: Focus on predictable income streams
CENTURIA METROPOLITAN REIT I Q1 FY17 OPERATING UPDATE I CMA:ASX I 25 OCTOBER 2017 Guidance Focus on predictable income streams − FY18 distributable earnings guidance of 18.6 cps − FY18 distribution guidance of 18.1 cps − Paid in equal installments of 4.525 cps per quarter − Strong forecast distribut
Slide 20: CMA's strategy and focus remains unchanged
CENTURIA METROPOLITAN REIT I Q1 FY17 OPERATING UPDATE I CMA:ASX I 25 OCTOBER 2017 Strategy CMA’s strategy and focus remains unchanged Fund strategy − Acquire quality ‘fit for purpose’ metropolitan real estate In Australia’s metropolitan office markets, assets delivering stable and secure income stre
Slide 21: Investment Portfolio
CENTURIA METROPOLITAN REIT I Q1 FY17 OPERATING UPDATE I CMA:ASX I 25 OCTOBER 2017 Section 6 Investment Portfolio
Slide 22: Appendix – Investment Portfolio
CENTURIA METROPOLITAN REIT I Q1 FY17 OPERATING UPDATE I CMA:ASX I 25 OCTOBER 2017 Appendix – Investment Portfolio Property Ownership Type Valuation ($m) Cap Rate NLA (sqm) WALE1 Occupancy2 9 Help Street, Chatswood, NSW 100% Office 65.0 6.50% 9,394 3.0 100.0% 203 Pacific Highway St Leonards, NSW 50%
Slide 23: Thankyou
CENTURIA METROPOLITAN REIT I Q1 FY17 OPERATING UPDATE I CMA:ASX I 25 OCTOBER 2017 Thankyou
Slide 24: Disclaimer
CENTURIA METROPOLITAN REIT I Q1 FY17 OPERATING UPDATE I CMA:ASX I 25 OCTOBER 2017 Disclaimer This presentation has been prepared by Centuria Property Funds Limited Limited (ABN 11 086 553 639, AFSL 231 149) (CPFL) as responsible entity of Centuria Metropolitan REIT (‘CMA’ or the ‘Trust’). All inform
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