Stockland · ASX:SGP
Stockland — Corporate Update
18 slides from Stockland's corporate update
Slide 1: Retail Development Pipeline Update
Retail Development Pipeline Update Stephen Bull, General Manager - Development & Design www.stockland.com
Slide 2: Retail growth strategy
Retail growth strategy • Well positioned assets in strong non-metro and Retail development projects spread across metro locations non-metro and metro locations • Grow assets to create value uplift and generate increased recurring income • Drive assets up the retail hierarchy – convert strong sub-reg
Slide 3: Rigorous redevelopment process supported by strong team
Rigorous redevelopment process supported by strong team Strategic criteria Strong team capability • Fundamentals of the trade area: • Appropriately resourced & experienced team: Sales volume and growth 45 people with diverse backgrounds Population size and growth Average of 23 years across each of t
Slide 4: Retail development pipeline - a sustainable pipeline for growth
Retail development pipeline - a sustainable pipeline for growth Total Estimated Cost Estimated fully % specialty Project to complete leased year one shops 3 PROJECTS Cost ($m) ($m) yield leased FY11 FY12 FY13 FY14 FY15 FY16+ Rockhampton 120 20 8.0% 100% Under Construction: Merrylands 395 215 6.5%1 5
Slide 5: Rockhampton - consolidating two assets to create a significant regional centre
Rockhampton - consolidating two assets to create a significant regional centre Trade area • Total retail spend: $1.9bn (5.8% growth p.a.) • Population: 155,000 (1.8% growth p.a.) Pre-commencement centre performance (2007) • MAT: $265m • MAT per sqm (specs): $7,935 (combined) This photo courtesy of T
Slide 6: Rockhampton - pre-development
Rockhampton - consolidating two assets to create a significant regional centre PRE-DEVELOPMENT • GLA: 53,000m² • Anchors: 4 • Specialty shops: 148 - 23 -
Slide 7: Rockhampton - post development
Rockhampton - consolidating two assets to create a significant regional centre POST DEVELOPMENT • GLA: 58,000m², 21,000m2 redeveloped • Anchors: 4 • Specialty shops: 172 Anchors New shops Existing - 24 -
Slide 8: Merrylands - creating a regional centre out of obsolescence
Merrylands - creating a regional centre out of obsolescence Trade Area • Total Retail Spend: $1.4bn (4.5% growth p.a.) • Population: 140,000 (1.3% growth p.a.) Pre-commencement centre performance (2007) • MAT: $159m • MAT per sqm (specs): $10,866 Competitive landscape • No significant convenient com
Slide 9: Merrylands - pre- and post-development
Merrylands - creating a regional centre out of obsolescence Pre-development • GLA: 22,000m² • Anchors: 3 • Specialty shops: 85 Post-development • GLA: 58,000m² • Anchors: 6 • Specialty shops: 200 - 26 -
Slide 10: Townsville - creating the only regional shopping centre in the market
Townsville - creating the only regional shopping centre in the market Trade area • Total retail spend: $2.5bn (4.9% growth p.a.) • Population: 215,000 (1.5% growth p.a.) Pre-commencement centre performance (2009) • MAT: $222m • MAT per sqm (specs): $10,350 Competitive landscape • History of being th
Slide 11: Townsville - pre-development
Townsville - creating the only regional shopping centre in the market PRE-DEVELOPMENT • GLA: 32,000m² • Anchors: 2 • Specialty shops: 120 - 28 -
Slide 12: Townsville - post development
Townsville - creating the only regional shopping centre in the market POST DEVELOPMENT • GLA: 46,000m² • Anchors: 3 • Specialty shops: 180 - 29 -
Slide 13: Shellharbour - an opportunity to capture leakage from the trade area
Shellharbour - an opportunity to capture leakage from the trade area Trade area • Total retail spend: $2.3bn (5.3% growth p.a.) • Population: 200,000 (1.4% growth p.a.) • Significant regional escape expenditure: $1.2bn Pre-commencement centre performance (2010) • MAT: $225m • MAT per sqm (specs): $9
Slide 14: Shellharbour - pre- and post-development, sustainability
Shellharbour - an opportunity to capture leakage from the trade area Pre-development • GLA: 39,000 sqm • Anchors: 3 • Specialty shops: 120 Post development • GLA: 75,000 sqm • Anchors: 5 • Specialty shops: 220 A new benchmark in sustainability • Illawarra’s first 4 star Green Star shopping centre •
Slide 15: Residential Projects - Leveraging the benefits of a diversified model
Leveraging the benefits of a diversified model Making best and highest use of Stockland’s landbank • Providing a retail element to Stockland’s masterplanned communities is a significant advantage: Generates stronger and earlier enquiry from residential customers Lower initial yield from retail centr
Slide 16: North Shore - Retail development drives whole of project returns
North Shore - Retail development drives whole of project returns • Total land area: 1,000 hectares • Number of residential lots: 5,200 • Future population: 15,000 • Town centre size: 80 hectares • Project timeframe: 15-20 years • Total retail on completion: 40,000 sqm • Commercial and bulky goods on
Slide 17: North Shore - How retail development drives whole of project returns
North Shore - How retail development drives whole of project returns North Shore - Stage 1 retail development • Development cost: $25m • GLA: 5,400 sqm • NOI on completion: $1.5m • Project fully-leased year-one yield: 6.0% • Initial stage of retail generally achieves lower yield on completion due to
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