Charter Hall Retail Reit · ASX:CQR
Charter Hall Retail Reit — Shareholder Meeting (October 2014)
26 slides from Charter Hall Retail Reit's shareholder meeting presentation, Oct 17, 2014
Slide 1: Charter Hall Retail REIT Meeting of Unitholders
Charter Hall Retail REIT Meeting of Unitholders 17 October 2014 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 Strategy
50% of our portfolio’s annual base rent, which is split 41% from supermarkets and liquor and 12% from discount department stores REIT Strategy For personal use only Our goal is to be the pre-eminent owner and manager of Australian supermarket anchored sub- regional and neighbourhood shopping centres
Slide 3: 2014 Full Year Results Meeting of Unitholders
17 October 2014 Charter Hall Retail REIT For personal use only 2014 Full of Meeting Year Results Unitholders
Slide 4: Board of Directors
Charter Hall Retail REIT Board of Directors For personal use only John Harkness Independent Chairman Alan Rattray-Wood Maurice Koop David Southon David Harrison Independent Director Independent Director Executive Director Executive Director 1
Slide 5: Agenda
Charter Hall Retail REIT Agenda For personal use only John Harkness Scott Dundas Independent Chairman Fund Manager 1 Independent Chairman’s Presentation 2 Fund Manager’s Presentation 3 Item of Business 4 Questions 2
Slide 6: Independent Chairman's Presentation
Independent Chairman’s Presentation For personal use only
Slide 7: REIT Summary
Charter Hall Retail REIT REIT Summary For personal use only • Focus on supermarket anchored non-discretionary retail • With a portfolio of 77 Australian retail properties valued at $2.0 billion1 the REIT is one of the largest owners of these assets • Woolworths and Wesfarmers owned retail businesses
Slide 8: REIT Strategy
Charter Hall Retail REIT REIT Strategy For personal use only The pre-eminent owner and manager of Goal Australian neighbourhood and sub-regional supermarket anchored shopping centres that optimises returns for our investors Active Enhance Prudent capital management portfolio quality management • Mai
Slide 9: Disciplined Investment Strategy
Charter Hall Retail REIT Disciplined Investment Strategy For personal use only Typical Investment Strategy Typical GLA Anchor Tenants Woolworths Neighbourhood < 10,000sqm Coles • Neighbourhood and Woolworths sub-regional supermarket Coles anchored Sub-regional 10,000 to 40,000sqm Kmart Big W • $20 -
Slide 10: 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 Priority Key FY14 Achievement Business • Charter Hall (manager of CQR) has implemented an internal audit function and was highly rated
Slide 11: Fund Manager's Presentation
Fund Manager’s Presentation For personal use only
Slide 12: Highlights for Financial Year 2014
Charter Hall Retail REIT Highlights for Financial Year 2014 For personal use only Operating earnings Net Tangible Assets 20% increase in 29.60 cpu per unit up 2.4% to Australian portfolio to 3.0%1 growth $3.40 $2.0 billion Offshore exit now Balance sheet gearing Occupancy increased complete down 6.9
Slide 13: Completed Acquisitions and Disposals
Charter Hall Retail REIT Completed Acquisitions and Disposals For personal use only Acquisitions Price $m Yield Settlement Secret Harbour, WA 33.2 7.8%1 Jul 2013 Southgate Plaza, SA 60.0 7.5% Oct 2013 Rosebud Plaza, Vic. 100.0 7.8% Nov 2013 Coomera City Centre, Qld 59.2 7.4% July 2014 Total 252.4 7.
Slide 14: Australian Redevelopments
Charter Hall Retail REIT Australian Redevelopments Current and completed major projects For personal use only Complete In progress South Hedland Square, WA Lansell Square, Vic $84 million of projects completed in FY14 at an average stabilised yield of 9.6% 11
Slide 15: Australian Portfolio
Charter Hall Retail REIT Australian Portfolio For personal use only 77 properties $2.0 billion value Occupancy 98.5% GLA 538,070sqm 1,433 specialty tenancies All values adjusted for acquisition of Coomera City Centre and disposal of Glen Innes 12
Slide 16: Australian Portfolio Update
Charter Hall Retail REIT Australian Portfolio Update As at 30 September 2014 For personal use only Australian portfolio well positioned to continue to deliver a secure and growing income stream • Occupancy remains strong at 98.5% • Specialty MAT growth of 1.9% • Anchor WALE of 11.2 years • Anchor te
Slide 17: Capital Management
Charter Hall Retail REIT Capital Management For personal use only Debt Maturity Profile at 30 June 20142 • Balance sheet gearing reduced by 6.9% to FY15 32.9% post sale of NZ assets • All offshore debt facilities now repaid following FY16 completion of offshore sales FY17 • Australian debt cost redu
Slide 18: FY15 Outlook
Charter Hall Retail REIT FY15 Outlook For personal use only • We confirm that, barring unforeseen events, the REIT’s FY15 guidance for operating earnings is between 29.6 and 30.0 cents per unit • Distribution payout ratio range is expected to be between 90% and 95% of operating earnings Coomera City
Slide 19: Items of Business
For personal use only Items of Business
Slide 20: 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 21: 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 22: 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 John Harkness as a Direc
Slide 23: Resolution - Proxies
Charter Hall Retail REIT Resolution - Proxies 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 John Harkness
Slide 24: Questions
For personal use only Questions
Slide 25: 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 26: For personal use only
For personal use only
Charter Hall Retail REIT — Shareholder Meeting (October 2014) on 6ix