Slide 1: Q3 operational update
For personal use only Q3 operational by mirvac update 9 may 2013
Slide 2: Q3 key outcomes
Q3 key outcomes by mirvac For personal use only n FY13 operating guidance of 10.7 to 10.8cpss maintained n MPT continues to deliver strong metrics: – 98.2% occupancy 1 – 5.3 year WALE 2 – Strong MAT growth of 3.0% n Expected Development EBIT already secured 3: – FY13 = 87.2% – FY14 = 63.9% n On trac
Slide 3: Operational update
For personal use only operational update by mirvac Q3 operational update I 9 May 2013 I page 2
Slide 4: Mirvac Property Trust: strong portfolio metrics delivering stable income
Mirvac Property Trust by mirvac For personal use only n Occupancy remains strong across the portfolio at 98.2% 1 n Solid WALE of 5.3 2 years n 83 leasing deals completed during the period representing 19,729sqm of portfolio NLA MPT – lease expiry profile and variance to 1H13 2 60% 55.2% 50 40 30 20
Slide 5: Office – Passive and Outlook
Office – Passive by mirvac For personal use only n Occupancy remains high at 97.2% 1 n Portfolio is de-risked by strong WALE of 5.5 2 years: limited expiry profile risk n Veolia executed 3,097sqm lease renewal for 5 years at Bay Centre, Pyrmont Office – Outlook n Business conditions remain subdued,
Slide 6: Office – In development: Mirvac's integrated model delivering results
Office – In development by mirvac For personal use only n 8 Chifley Square, NSW: – Building now 56.3% pre-committed following QBE 10 year lease – 87.0% construction complete n Treasury Building, WA: – Completed sale of 50.0% interest to Keppel REIT – Demolition complete, basement formwork underway n
Slide 7: Retail – Passive and Outlook
Retail – Passive by mirvac For personal use only n Occupancy strong at 99.2% 1 (exc. bulky goods) n Occupancy cost manageable at 14.8% 2 n Strong MAT growth of 3.0% across the portfolio driven by food based retailers and mini majors n Broadway Shopping Centre Australia’s most productive shopping cen
Slide 8: Retail – In development: Integrated model unlocking value
Retail – In development by mirvac For personal use only n Kawana Shoppingworld, QLD – 8,940sqm increase in GLA to 39,600sqm – Construction commenced January 2013 for July 2014 completion n Stanhope Village, NSW – Stage 3 now 78% leased 1, August 2013 completion – Stage 4 DA submitted February 2013 n
Slide 9: Industrial – Passive and Outlook
Industrial by mirvac For personal use only Industrial – Passive n Occupancy remains high at 99.4% 1 n Portfolio is de-risked by strong WALE of 9.0 2 years: limited expiry profile risk Industrial – Outlook n Rents remained stable in most markets over the period n New construction starts have jumped d
Slide 10: Residential – Q3 activity
Residential – Q3 activity by mirvac For personal use only n $971.9m 1 in exchanged pre-sales contracts n Harold Park, NSW continues strong momentum and 74.5% pre-sold: – Precinct 1 86.6% pre-sold – Precinct 2 54.9% pre-sold 2 n Yarra’s Edge, Array, VIC – 56.1% pre-sold – Construction commenced and o
Slide 11: Development – FY13 expected Development EBIT on track
Development – Q3 activity by mirvac For personal use only n 87.2% of FY13 expected Development EBIT 1 already secured n 63.9% of FY14 expected Development EBIT 1 already secured n 1,111 lots settled year to date = on track for 1,600 to 1,700 lots for FY13 n Focus on cash repatriation from impaired p
Slide 12: Summary and guidance
Summary and guidance by mirvac For personal use only Guidance FY13 Group operating profit $366 – $370m Operating EPS 10.7 – 10.8cpss DPS 8.5 – 8.7cpss Weighted average securities 3,432m Expected Development ROIC in FY14 >10% Mirvac Group maintains guidance for FY13 Q3 operational update I 9 May 2013
Slide 13: Residential market outlook
Residential market outlook 1 by mirvac For personal use only Whilst the outlook for residential markets continues to differ by capital city, the underlying property fundamentals remain sound. The combination of low borrowing costs, rising incomes and weak property prices has resulted in a significan
Slide 14: Disclaimer and important notice
Disclaimer and important notice by mirvac For personal use only Mirvac Group comprises Mirvac Limited ABN 92 003 280 699 and Mirvac Property Trust An investment in Mirvac stapled securities is subject to investment and other known and ARSN 086 780 645. This presentation (“Presentation”) has been pre
Slide 15: Thank you
For personal use only Thank you by mirvac Follow us on twitter @MirvacIR Mirvac Mirvac Investor 1H13 relations Property website compendium