Growthpoint Properties Australia · ASX:GOZ
Growthpoint Properties Australia — 2019 Private Placement Industry Forum
27 slides from Growthpoint Properties Australia's conference presentation, Jan 25, 2019
Slide 1: space to thrive
Growthpoint Properties Australia Growthpoint Properties Australia Trust ARSN 120 121 002 Growthpoint Properties Australia Limited ABN 33 124 093 901 AFSL 316409 www.growthpoint.com.au space to thrive 2019 Private Placement Industry Forum 22-25 January 2019
Slide 2: Important information
Important information Disclaimer as amended. These measures include Funds From Operations (FFO), FFO invested. Growthpoint does not guarantee any particular rate of return or the This presentation and its appendices (“Presentation”) is dated January per security, distributions per Security, Gearing,
Slide 3: Introduction
Introduction Dion Andrews, B.Bus, FCCA, MAICD Chief Financial Officer, Company Secretary Dion is a Chartered Accountant and is responsible for the financial reporting obligations of the Group as well as debt structuring, raising debt capital and technology. Dion has over 15 years’ experience in acco
Slide 4: Overview
Overview 836 Wellington Street, West Perth, WA
Slide 5: Growthpoint Properties Australia
Growthpoint Properties Australia Who are we? GOZ commenced in its current form in Key portfolio highlights 2009 with A$650 million of industrial Growthpoint (GOZ) is an ASX-listed property. It has grown and diversified to landlord with a mandate to invest in now own A$2.6 billion of office property
Slide 6: Simple business model – strong track record of returns
Simple business model – strong track record of returns nnInvestment mandate and business model unchanged since inception in 2009 nnStrategy remains relevant, delivering strong track record of Securityholder returns nnFocus to continue on acquiring quality property with stable income and long-term gr
Slide 7: Property Portfolio
Property Portfolio1 At 30 September 2018 85% of properties located on Eastern Seaboard Office properties ($2.6bn) Industrial properties ($1.1bn) (number of assets) 30% Queensland $876.9m $3.7bn – Office $882.0m – Industrial $244.9m 24% Office portfolio New South Wales 98% $893.5m 8 4 – Office $699.3
Slide 8: Property Portfolio (continued)
Property Portfolio1 (continued) Top ten tenants Portfolio lease expiry profile (%) Annual rent review type (%)3 by passing rent as at 30 September 2018 per financial year, by income as at 30 September 2018 55 Tenant Credit WALE type rating2 % (yrs) 7 1 WARR Woolworths Listed Baa2 14 4.2 11 66 3.3% N
Slide 9: Financial Overview
Financial Overview 100 Skyring Terrace, Newstead, QLD
Slide 10: Five year performance summary
Five year performance summary 30 Sept 20181 FY18 FY17 FY16 FY15 FY14 Number of properties no. 59 57 58 58 53 51 Total value $m 3,697.4 3,356.1 3,283.8 2,832.6 2,372.5 2,093.7 Occupancy % 98 98 99 99 97 98 Like-for-like value change $m / % of asset value N/A 193.8 / 6.2 138.6 / 5.2 130.2 / 5.5 186.0
Slide 11: Debt maturity profile ($m)
Debt maturity profile ($m) At 30 September 20181 Bank debt Institutional term loan USPP Bridge Facility Undrawn bank debt Weighted Bank debt / average debt non-bank debt maturity (WADM) 500 55% / 45% 4.5 years 30 48 220 400 417 300 200 250 200 100 150 150 130 78 0 FY19 FY20 FY21 FY22 FY23 FY24 FY25
Slide 12: Debt management and gearing
Debt management and gearing Summary of debt facilities Change in gearing and cost of debt (%) (as at 30 June 2018) 65% 8.0% Gearing Secured bank loans Limit Drawn Maturity target range 60% 7.5% $m $m Balance Sheet Gearing 35%-45% 55% 7.0% All-in cost of debt Syndicated Facility 50% 6.5% - Facility J
Slide 13: Equity Capital
Equity Capital Market capitalisation and Location of Growthpoint Growthpoint free float ($m) Securityholders1 (%) Securityholders1 (%) as at 30 June 2018 as at 30 June 2018 Market Capitalisation Free float 0.7 10 7.5 2,721.8 2,438.1 2,076.6 18 1,781.1 1,836.8 26.3 1,323.3 72 840.0 925.4 65.5 724.4 6
Slide 14: Opportunities and Outlook
Opportunities and Outlook A4, 52 Merivale, South Brisbane, QLD
Slide 15: New property acquisition and equity raising
New property acquisition and equity raising Property Details Key characteristics Property type Office nn Landmark location in Newstead, within Brisbane’s Ownership 100% Freehold Title prestigious Urban Renewal Precinct Purchase Price $250.0m nn Completed in 2014 with architecture by ML Designs and h
Slide 16: Pipeline of opportunities to progress
Pipeline of opportunities to progress Development Expansion / development Direct acquisitions Listed market – Office – Industrial opportunities Botanicca 3, Woolworths, Woolworths, 836 Wellington St, 100 Skyring Tce, nn 18.2% stake in Richmond, VIC Gepps Cross, Broadmeadows, West Perth, WA Newstead,
Slide 17: Summary
Summary nnStable and predictable income nnAsset diversity nnHigh quality tenants and robust occupancy nnPrudent and diligent approach to acquisitions nnConservative financial policy nnStrong Securityholder support nnStrong Investment Grade Rating and stable outlook nnExperienced management Growthpoi
Slide 18: Appendices
Appendices 211 Wellington Road, Mulgrave, VIC
Slide 19: Conditions remain supportive of Commercial property
Conditions remain supportive of Commercial property nnOngoing demand for high quality office and industrial property nnBuoyant economy and strong business conditions driving leasing demand nn$324 billion1 infrastructure investment to benefit metro office and industrial property markets Unemployment1
Slide 20: Portfolio of well-located metro/CBD-fringe office properties
Portfolio of well-located metro/CBD-fringe office properties Sydney – Parramatta and Melbourne – Richmond Brisbane – South Brisbane Sydney Olympic Park and South Melbourne (SW1) and Fortitude Valley M2 Melbourne CBD M4 Sydney Brisbane CBD CBD 1KM 500M 500M Parramatta, NSW Sydney Olympic Park, NSW So
Slide 21: Major infrastructure investment to benefit non-CBD markets
Major infrastructure investment to benefit non-CBD markets VIC - Office VIC - Industrial NSW - Office NSW - Industrial Melbourne Metro Rail CityLink - Tullamarine widening, West Connex, Sydney Light Rail, Second Sydney West Connex West Gate Tunnel Airport, Sydney Metro - City and Southwest 75 Dorcas
Slide 22: Top five office properties/property groups by value
Top five office properties/property groups by value 59% of office portfolio $1,298.3m total value of top five properties / property groups 5.9yrs SW1 Complex, 1 Charles St, Sydney Olympic Park, 75 Dorcas St, Bldgs 1, 2, & 3, 572-576 weighted average South Brisbane, QLD Parramatta, NSW NSW (4 propert
Slide 23: Top five industrial properties/property groups by value
Top five industrial properties/property groups by value 79% of industrial portfolio $910.7m total value of top five properties / property groups 5.1yrs Woolworths Linfox properties, Melbourne Airport Knoxfield industrial Perth Airport industrial weighted average Distribution Centres Erskine Park, NS
Slide 24: Growthpoint Properties Limited - South Africa (GRT)
Growthpoint Properties Limited - South Africa (GRT)1 Growthpoint Properties Limited of South Africa (“GRT”) owns 66.0% of Key Facts (as at 30 June 2018)1 the securities of Growthpoint and is its major Security holder. Other information • Well capitalised and conservatively Listing GRT is listed on t
Slide 25: Board of Directors
Board of Directors 1. Geoffrey Tomlinson (71) 3. Maxine Brenner (56) 5. Grant Jackson (52) 7. Norbert Sasse (54) BEC BA, LLB Assoc. Dip. Valuations, FAPI BCom (Hons) (Acc), CA (SA) Independent Chairman (since Independent Director (since Independent Director (since Director4 (since 5 August 2009) 1 J
Slide 26: Glossary
Glossary A-REIT Australian Real Estate Investment Trust FY14, FY15, FY16, FY17 and FY18 the 12 months ended NPI net property income on 30 June in the year listed i.e. “FY18” means the 12 months ASX Australian Securities Exchange NTA net tangible assets ended 30 June 2018 bn billion m million FY19, F
Slide 27: Contact details
Contact details: Dion Andrews – Chief Financial Officer Email: Dion.Andrews@growthpoint.com.au Phone: +61 407 592 044 Daniel Colman – Investor Relations Manager Email: Daniel.Colman@growthpoint.com.au Phone: +61 401 617 167 Growthpoint Properties Australia Level 31, 35 Collins Street Melbourne VIC 3
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