CapitaLand Integrated Commercial Trust · SGX:C38U
CapitaLand Integrated Commercial Trust — Merger or Acquisition (December 2021)
30 slides from CapitaLand Integrated Commercial Trust's merger presentation, Dec 23, 2021
Slide 1: Proposed Acquisition of 50.0% interest in 101 Miller Street & Greenwood Plaza in Sydney
CapitaLand Integrated Commercial Trust Proposed Acquisition of 50.0% interest in 101 Miller Street & Greenwood Plaza in Sydney, Australia 23 December 2021
Slide 2: Disclaimer
Disclaimer This presentation may contain forward-looking statements. Actual future performance, outcomes and results may differ materially from those expressed in forward-looking statements as a result of a number of risks, uncertainties and assumptions. Representative examples of these factors incl
Slide 3: Contents
Contents 04 Overview 12 Investment Merits 29 Additional Information Notes: (1) Any discrepancies in the tables and charts between the listed figures and totals thereof are due to rounding. (2) Unless otherwise stated, all Australian dollar amounts in this presentation have been translated into Singa
Slide 4: Overview
Overview The property is an iconic integrated development comprising a 28-storey Premium Grade office tower and a 2-storey office building, collectively referred to as 101 Miller Street (unless otherwise stated) and retail centre, known as Greenwood Plaza. 101 Miller Street and Greenwood Plaza, Sydn
Slide 5: Reconstituting Portfolio to be Better Positioned for Growth
Reconstituting Portfolio to be Better Positioned for Growth Singapore remains key focus; while expansion into Australia offers another engine of growth and diversified income base ►01 Divestment ►04 Proposed Acquisitions in Sydney, Australia Divested 50.0% • Two Grade A office buildings and 50.0% in
Slide 6: Transaction Highlights
Transaction Highlights ✓ Proposed DPU-accretive acquisition of 50.0% interest in an iconic integrated development comprising 101 Miller Street, a Premium Grade(1) office tower, a 2-storey office building and Making an entry to Greenwood Plaza, a retail centre in North Sydney Australia with ✓ Deepeni
Slide 7: 101 Miller Street and Greenwood Plaza
101 Miller Street and Greenwood Plaza One of only three Premium Grade buildings strategically located in North Sydney Accessibility Australian Direct integration to North Victoria Cross Catholic Metro (2024) Sydney Train Station via University Greenwood Plaza ~200m (~1-2 min walk) to the upcoming Vi
Slide 8: Unique integrated development with Premium Grade office and retail centre
101 Miller Street and Greenwood Plaza Unique integrated development with Premium Grade office and retail centre Address 101 – 103 Miller Street & 36 Blue Street, North Sydney, New South Wales 5-STAR NABERS Energy(1) An iconic integrated development comprising a 28-storey Premium Grade 4.5-STAR NABER
Slide 9: Total Acquisition Outlay of A$454.4 million (S$440.8 million)
Total Acquisition Outlay of A$454.4 million (S$440.8 million) Balance proceeds from private placement to be utilised for proposed acquisition Total Acquisition Outlay Sources of Funding A$ million A$ million Total Acquisition Outlay to be funded by A$454.4 mil a combination of: (S$440.8 mil) 4.2 • D
Slide 10: Financial Effects and Capital Management
Financial Effects and Capital Management Continue to adopt a prudent capital management strategy FOR ILLUSTRATIVE PURPOSE: Pro forma Distribution per Unit (DPU) (S cents) Funding with debt, divestment proceeds and equity DPU accretion for the proposed acquisition of DPU accretion for the proposed ac
Slide 11: Proposed Investment Structure
Proposed Investment Structure CICT to co-own the integrated development with Mirvac Commercial Trust Investment Structure CICT 100% CICT AU Investments 99% Pte Ltd Singapore 1% Australia CICT AU Trust 100% CICT AU 1 Trust 100% 100% 100% Acacia Goulburn Trust Acacia Arthur Trust Sub-Trust 100% 100% 5
Slide 12: Investment Merits
Investment Merits 101 Miller Street and Greenwood Plaza, Sydney, Australia
Slide 13: Investment Merits
Investment Merits 1 Deepening presence in Sydney 2 Riding on the rejuvenation of North Sydney 3 Quality asset that complements CICT’s strategy, enhances resilience and diversity of portfolio 4 Transaction is DPU accretive to Unitholders Leveraging Sponsor’s established platform 5 C a p i t a L a n d
Slide 14: Deepening Presence in Sydney
1 Deepening Presence in Sydney In line with CICT’s strategy to build scale in markets with existing footprint Sydney CBD 66 Goulburn Street 100 Arthur Street 101 Miller Street and Greenwood Plaza North Sydney CBD C a p i t a L a n d I n t e g r a t e d C o m m e r c i a l Tr u s t 14
Slide 15: Deepening Presence in Sydney
1 Deepening Presence in Sydney CICT’s presence in Australia increases to ~5% of portfolio property value Portfolio property value to increase approximately 5% from S$21.8 billion(1) to S$22.8 billion(2) Majority of portfolio remains green rated post acquisition(3) Portfolio Details by Geography and
Slide 16: Riding on the Rejuvenation of North Sydney
2 Riding on the Rejuvenation of North Sydney Part of the North District Plan by Greater Sydney Commission to develop North Sydney CBD as part of the Harbour CBD(1); Sydney Metro to be a gamechanger for North Sydney SYDNEY RAIL NETWORK(2) 101 Miller Street and Greenwood Plaza are directly connected t
Slide 17: Riding on the Rejuvenation of North Sydney
2 Riding on the Rejuvenation of North Sydney Major commercial hub with multiple plans to improve public domain to support its North Sydney CBD vision 1 Miller Place • Create a pedestrian space that will potentially become the civic, retail and social heart of North Sydney CBD • A public plaza that w
Slide 18: Riding on the Rejuvenation of North Sydney
2 Riding on the Rejuvenation of North Sydney Completed stock and potential supply to rejuvenate North Sydney CBD; Demand to pick up North Sydney CBD Two key trends observed in the leasing market are the centralisation from metropolitan markets and flight to quality.(1) North Sydney Net Absorption, N
Slide 19: Quality Asset that Complements CICT's Strategy
Quality Asset that Complements CICT’s Strategy, 3 Enhances Resilience and Diversity of Portfolio Opportunity to co-own one of the most prominent buildings in North Sydney Quality Asset Green Ratings(1)/ Features One of only three 5-STAR NABERS Energy Premium grade properties 4.5-STAR NABERS Water in
Slide 20: Quality Asset that Complements CICT's Strategy
3 Quality Asset that Complements CICT’s Strategy, Enhances Resilience and Diversity of Portfolio 101 Miller Street – iconic Premium Grade building with quality office space and amenities Amenities Café on the ground floor End-of-trip facilities comprising showers, lockers and bike storage areas Ampl
Slide 21: Greenwood Plaza retail centre
3 Quality Asset that Complements CICT’s Strategy, Enhances Resilience and Diversity of Portfolio Greenwood Plaza – three-level retail centre offering high quality urban retailing and convenience options to the North Sydney workforce, resident and student population KEY STATISTICS No of Retail Offeri
Slide 22: Robust tenancy profile anchored by high quality tenants
3 Quality Asset that Complements CICT’s Strategy, Enhances Resilience and Diversity of Portfolio Robust tenancy profile anchored by high quality tenants Lease Expiry Profile Tenant Mix(1) Supermarket Other Retail and 2.1% Product Trades Weighted Average Lease to Expiry(1) = 3.6 years 2.3% Other Offi
Slide 23: Improving income diversification with the three Australian properties
3 Quality Asset that Complements CICT’s Strategy, Enhances Resilience and Diversity of Portfolio Improving income diversification with the addition of the three Australian properties NPI Contribution by Geography and Asset Class after Proposed Acquisitions of the Three Australian Properties NPI cont
Slide 24: Portfolio WALE increased post acquisition
3 Quality Asset that Complements CICT’s Strategy, Enhances Resilience and Diversity of Portfolio Portfolio WALE(1) increased to 3.1 years from 3.0 years post acquisition of the three Australian properties Portfolio Lease Expiry Profile Post Acquisition 20.2% 0.1% 13.8% 14.3% 0.1% 0.1% 9.6% 9.5% 8.9%
Slide 25: Transaction is DPU Accretive to Unitholders
4 Transaction is DPU Accretive to Unitholders FOR ILLUSTRATIVE PURPOSE: Pro forma Distribution per Unit (DPU) Capital Management (S cents) Funding with debt, divestment proceeds and equity Acquisition to be funded by a combination of debt, divestment proceeds and equity DPU accretion for the propose
Slide 26: Leveraging Sponsor's Established Platform
5 Leveraging Sponsor’s Established Platform CapitaLand Investment has a strong presence and platform in Australia since 2015 Continue to leverage Sponsor’s investment and asset Arrangement for integrated development, management capabilities 101 Miller Street and Greenwood Plaza Existing property man
Slide 27: CICT's Portfolio Post Acquisition
CICT’s Portfolio Post Acquisition 26 S$22.8B 10.1M sq ft 93.4% 3.1 years properties Portfolio property value Total NLA(1) Portfolio Occupancy Portfolio WALE SYDNEY, AUSTRALIA OFFICE FRANKFURT, GERMANY OFFICE • Gallileo (94.9% interest) • Main Airport Center (94.9% interest) SINGAPORE RETAIL INTEGRAT
Slide 28: Thank You!
Thank You! For enquiries, please contact: Ms Ho Mei Peng, Head, Investor Relations Direct: (65) 6713 3668 | Email: ho.meipeng@capitaland.com CapitaLand Integrated Commercial Trust Management Limited (http://www.cict.com.sg) 168 Robinson Road, #25-00 Capital Tower, Singapore 068912 Tel: (65) 6713 288
Slide 29: Additional Information
Additional Information 101 Miller Street and Greenwood Plaza, Sydney, Australia
Slide 30: 101 Miller Street & Greenwood Plaza Site Overview & Stacking Plan
101 Miller Street & Greenwood Plaza Site Overview & Stacking Plan 101 Miller Street 103 Miller Street Greenwood Plaza Level 1 Office Rooftop Level Retail Ground floor Office Site Aerial Plaza Level Retail Metro Level Retail Metro level is connected to North Sydney Station C a p i t a L a n d I n t e
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