Charter Hall Retail Reit · ASX:CQR
Charter Hall Retail Reit — Shareholder Meeting (October 2013)
28 slides from Charter Hall Retail Reit's shareholder meeting presentation, Oct 31, 2013
Slide 1: Charter Hall Retail REIT Meeting of Unitholders
Charter Hall Retail REIT Meeting of Unitholders 31 October 2013 For personal use only Good morning and welcome everyone to the Charter Hall Retail REIT’s (REIT) Meeting of Unitholders. It is now 10am and as the necessary quorum is present, I declare this meeting properly constituted and open. My nam
Slide 2: REIT Objectives and Investing in our Centres
These centres, located in Western Australia, South Australia and New South Wales, are all anchored by a strongly performing Coles or Woolworths supermarket, with predominately non-discretionary specialty retailers, in line with our investment strategy. The Woolworths and Wesfarmers owned retail busi
Slide 3: Sustainability
Sustainability Finally, sustainability is a key focus for the REIT with three main areas for consideration - sustainable business, environment and community. For personal use only I wanted to briefly highlight the progress we have made this year in improving the environmental performance of the REIT
Slide 4: Meeting of Unitholders October 2013
Charter Hall Retail REIT For personal use only Meeting of Unitholders 31 October 2013
Slide 5: Board of Directors
Charter Hall Retail REIT Board of Directors For personal use only John Harkness Chairman and Independent Director Alan Rattray-Wood Maurice Koop David Southon David Harrison Independent Director Independent Director Executive Director Executive Director 1
Slide 6: Agenda
Charter Hall Retail REIT Agenda For personal use only John Harkness Scott Dundas Chairman Fund Manager 1 Chairman’s Presentation 2 Fund Manager’s Presentation 3 Item of Business 4 Questions 2
Slide 7: Chairman's Presentation
Chairman’s Presentation For personal use only
Slide 8: REIT Summary
Charter Hall Retail REIT REIT Summary For personal use only • Focus on supermarket anchored non-discretionary retail • With a portfolio of 76 Australian retail properties valued at $1.8 billion1 the REIT is one of the largest owners of these assets • Woolworths and Wesfarmers owned retail businesses
Slide 9: REIT Objectives
Charter Hall Retail REIT REIT Objectives For personal use only • Maintain and enhance the REIT’s Australian portfolio, utilising Charter Hall’s vertically integrated management platform • Proactive equity and debt management to enhance earnings quality • Complete the portfolio reweighting to Austral
Slide 10: Investing in our Centres and Communities
Charter Hall Retail REIT Investing in our Centres and Communities For personal use only • $62 million Singleton Square redevelopment opened in August 2013, now trading strongly and currently 95.6% occupied • Rolling out a new brand and look for our centres • Our new brand is designed around our cent
Slide 11: Sustainability
Charter Hall Retail REIT Sustainability For personal use only Sustainability continues to be a core part of how we manage risks and enhance value across our business Sustainable Business • To maximise our customer and investor satisfaction through operational excellence and by delivering long term v
Slide 12: Fund Manager's Presentation
Fund Manager’s Presentation For personal use only
Slide 13: Highlights for Financial Year 2013
Charter Hall Retail REIT Highlights for Financial Year 2013 For personal use only Operating earnings per unit Distributions per unit Australian portfolio value growth 3.3% 26.80 cpu $1.8 billion1 Same property NOI growth Occupancy Specialty rent growth 2.8% 98.2% 3.1% 1. Includes Secret Harbour Shop
Slide 14: Disciplined Investment Strategy
Charter Hall Retail REIT Disciplined Investment Strategy For personal use only CQR’s Strategy Typical Typical GLA Anchor Tenants • Neighbourhood and Woolworths sub-regional Neighbourhood < 10,000 sqm Coles supermarket anchored Woolworths Coles • $20 - $100m asset Sub-regional 10,000 to 40,000 sqm Km
Slide 15: Completed Acquisitions
Charter Hall Retail REIT Completed Acquisitions For personal use only Secret Harbour, WA Tamworth, NSW Lake Macquarie, NSW Dubbo, NSW 11
Slide 16: Transactions Update
Charter Hall Retail REIT Transactions Update For personal use only • In July 2013, acquired the Secret Harbour shopping centre and adjoining vacant land located south of Rockingham, Western Australia for $33.2 million • In October 2013, the REIT completed the sale of it’s Polish portfolio in line wi
Slide 17: Australian Portfolio
Charter Hall Retail REIT Australian Portfolio For personal use only 76 properties $1.8 billion value Occupancy 98.2% GLA 505,000sqm 1,394 specialty tenancies All values include Secret Harbour Shopping Centre and Southgate Plaza, post balance date acquisitions 13
Slide 18: Australian Portfolio Update
Charter Hall Retail REIT Australian Portfolio Update As at 30 September 2013 For personal use only Australian portfolio continues to deliver robust results • Occupancy remains strong at 98.2% • Specialty rent growth of 2.8% from 49 leasing deals1 • Anchor WALE increased to 10.9 years • Specialty occ
Slide 19: Capital Management
Charter Hall Retail REIT Capital Management For personal use only Debt Maturity Profile at 30 June 20131 • FY13 weighted average interest cost of 5.7%2, reduced from 6.3% in FY12 FY14 • In August 2013 the REIT extended and FY15 increased its Multi-currency debt facility at a FY16 reduced margin FY17
Slide 20: FY14 Outlook
Charter Hall Retail REIT FY14 Outlook For personal use only From 1 July 2013 the REIT’s German operations will no longer be included in the REIT’s operating earnings as these properties are being prepared for sale and earnings from these operations are not available for distribution Barring unforese
Slide 21: Item of Business
For personal use only Item of Business
Slide 22: Procedural Matters
Charter Hall Retail REIT Procedural Matters For personal use only • If there are any Unitholders who are eligible to vote who have not received their yellow voting card, please see a representative from Link Market Services at the registration desk • Unitholders holding a red card are not eligible t
Slide 23: Item of Business
Charter Hall Retail REIT Item of Business For personal use only Voting on this resolution will take place on a show of hands, unless a poll is demanded in accordance with the REIT’s Constitution and the Corporations Act. This resolution is advisory only and is non-binding on Charter Hall Retail Mana
Slide 24: Resolution: Ratification of Re-appointment of Independent Director
Charter Hall Retail REIT Resolution For personal use only Ratification of Re-appointment of Independent Director To consider, and if thought fit, pass the following resolution, as an advisory, non-binding ordinary resolution of the Unitholders: “That the re-appointment of Mr Maurice Koop as a Direct
Slide 25: Resolution - Proxies
Charter Hall Retail REIT Resolution - Proxies For personal use only Proxies FOR: 207,751,884 98.91% OPEN: 1,304,260 0.62% AGAINST: 984,414 0.47% ABSTAIN: 264,469 21
Slide 26: Questions
For personal use only Questions
Slide 27: Important Notice
Charter Hall Retail REIT Important Notice For personal use only This presentation has been prepared by Charter Hall Retail Management Limited (ABN 46 069 709 468: AFSL 246996) as the responsible entity for Charter Hall Retail REIT (“CQR”). It is a presentation of general background information about
Slide 28: For personal use only
For personal use only
Charter Hall Retail REIT — Shareholder Meeting (October 2013) on 6ix