9 Andretti Court, Victoria One@Changi City Investor Presentation September 2016 1
Agenda Overview of A-REIT Key Highlights for 1Q FY16/17 Financial Performance Investment Management Capital Management Asset Management Portfolio Update Portfolio Resilience Market Outlook A- REIT’s Strengths 2
Overview of Ascendas Real Estate Investment Trust First and largest business space and industrial REIT listed on the Singapore Exchange and a constituent of the FTSE Straits Times Index effective 4 June 2014 Total assets of about S$9.8bn (US$7.3bn) Issuer and senior unsecured rating of A3 by Moody’s Diversified portfolio – 102 properties in Singapore, 29 properties in Australia Business & and 1 property in China; Tenant base Science Park of around 1,450 local and international companies # Integrated High Specs Development, Industrial / Amenities & Data Centres Retail (“IDAR”) Logistics & Distribution Light Industrial Centres / Flatted ( S’pore & Factories Australia) # As at 9 September 2016 3
Singapore: Diversified Portfolio Positioned for Future Growth of the Singapore Economy Sub-sector Business Parks Science Parks (as at 9 Sep 2016) Portfolio GFA (sqm) 410,647 332,716 % of A-REIT - by GFA 11% 9% - by asset value 18% 15% Characteristics Zone is defined by Govt Master Plan. Suburban office Zone is defined by Govt Master Plan. R&D space and corporate HQ buildings. Manufacturing activities equipped with building specifications to facilitate are not allowed. R&D works. Manufacturing activities are not allowed. Typical tenants Regional corporate HQs of industrial companies and Companies in research & development in various MNCs; backroom support office of financial fields including life sciences, food and chemicals, institutions; IT firms, etc. data analysis and IT research and development, etc. 4
Singapore: Diversified Portfolio Positioned for Future Growth of the Singapore Economy Sub-sector Integrated Development, Hi-Specs Industrial Data Centres (as at 9 Sep 2016) Amenities & Retail (IDAR) Portfolio GFA (sqm) 157,299 528,408 109,756 % of A-REIT - by GFA 4% 14% 3% - by asset value 7% 15% 6% Characteristics Two or more types of space within Vertical corporate campus with Building and M&E specifications an integrated development such higher office content combined (eg raised floor, high power as business space, retail and with high specifications mixed-use capacity) to enable space to be warehousing facility. Typically industrial space. used as data centres. larger scale developments. Possess infrastructure and amenities to meet business needs. Typical tenants MNCs and corporates that desire Multi-national industrial Multi-national companies quality space with comprehensive companies and large local providing data centre services range of amenities to house their companies that wish to co-locate such as cloud computing and HQ and conduct their businesses their HQ functions with data storage. under one roof. Companies in IT, manufacturing services, fast moving consumer goods, engineering, R&D activities. engineering, warehousing, retail. 5
Singapore: Diversified Portfolio Positioned for Future Growth of the Singapore Economy Sub-sector Light Industrial Flatted Factories Logistics & (as at 9 Sep 2016) Distribution Centres Portfolio GFA (sqm) 393,740 197,143 835,825* % of A-REIT - by GFA 10% 5% 23% - by asset value 7% 3% 14% Characteristics Low office content combined with Stacked-up manufacturing space Warehouses with high floor manufacturing space. used for general manufacturing. loading and floor height. Well Ground floor space tends to located near major transport command higher rental rate due to nodes e.g. airport, seaport & higher floor loading and better expressways. Majority are single accessibility. or multi-storey facilities with vehicular ramp access 3 rd Typical tenants Large local companies which Local small & medium-size party logistics providers, house their light manufacturing enterprises engaged in various manufacturers, distributors and activities and HQ operations manufacturing activities. Some trading companies within a single facility. Higher MNC manufacturers also house manufacturing content compared their manufacturing operations in to Hi-Specs Industrial buildings. such buildings. *Excludes 297 Ahmad Ibrahim Road which has been decommissioned for asset enhancement works 6
A- REIT’s Singapore Property Map Strategically located along major expressways Several properties e.g. Business Park, Science Park and some High-Specs Industrial properties are in close proximity to MRT stations Light Industrial and Hi-Specs Industrial properties are primarily centrally located near major housing areas Logistics and Distribution Centres are located near airport and seaport 7
Australia Portfolio – 29 Properties (28 Logistics, 1 Business Park) Sydney (259,336 sqm) Brisbane (155,966 sqm) WA 4% 1. 1A & 1B Raffles Glade 12. 62 Sandstone Place 2. 7 Grevillea Street VIC 13. 92 Sandstone Place By 28% 3. 5 Eucalyptus Pace 14. 62 Stradbroke Street NSW rental 46% 4. Lot 4 Honeycomb Drive 15. 82 Noosa Street income 5. 1-15 Kellet Close 16. 77 Logistics Place 6. 94 Lenore Drive 17. 99 Radius Drive QLD 7. 484-490 Great Western Highway 18. 2-56 Australand Drive 22% 8. 494-500 Great Western Highway Perth (20,895 sqm) 9. 1 Distribution Place, Seven Hills 29. 35 Baile Road 10. 6-20 Clunies Ross Street, Pemulwuy 11. 197-201 Coward Street, Mascot Portfolio GFA (sqm) 710,160 % of A-REIT Melbourne (273,963 sqm) - by GFA 19% - by asset value 13% 19. 14-28 Ordish Road 20. 35-61 South Park Drive 21. 2-34 Aylesbury Drive 22. 81-89 Drake Boulevard 23. 676-698 Kororoit Creek Road 24. 700-718 Kororoit Creek Road 7 25. 9 Andretti Court 26. 31 Permas Way 27. 162 Australis Drive 1 11 28. Stage 4, Power Park Estate (under development) 10 8
New Acquisition in 2Q FY16/17: 197-201 Coward Street, Mascot, Sydney Purchase Consideration A$143.4m Acquisition Fee, Stamp A$10.0m Duty and Other transaction costs Total Acquisition Cost A$153.4m Vendor Frasers Property Australia Valuation A$144.0m by Knight Frank Land Area 6,714 sm 6-20 Clunies Ross Street – located within 6 km – 16km from A- REIT’s existing properties in Sydney Land Tenure Freehold Net Lettable Area 22,628 sm Property : Comprises two 8-storey A-grade office Occupancy 100% park towers and a multi-storey carpark. Weighted Average Lease 5.2 years Completed in 2003. to Expiry Location : Established South Sydney commercial Key Tenants Leighton Contractors, TNT, Avis precinct. Well serviced by public transport. Initial NPI Yield 6.9% (or 6.5% post-cost yield) Tenants : Attracts logistics and transportation sectors and those who value close proximity to Acquired on 9 September 2016 CBD at discounted rents. 9
New Acquisition in 2Q FY16/17 : Stage 4, Power Park Estate, Dandenong South, Melbourne Purchase Consideration A$24.8m Acquisition Fee, Stamp Approx A$0.8m Duty and Other transaction costs Total Acquisition Cost A$25.6m Vendor Goodman Dandenong Trust Valuation A$24.8m by Urbis Land Area 33,107 sm Land Tenure Freehold Gross Lettable Area 18,007 sm (comprising of 2 warehouses of 12,200 sm and Property : A prime single-storey modern logistics 5,807 sm) facility under development. Construction Occupancy 68% pre-commitment. The completion expected in 1Q 2017. vendor will provide rental Location : Power Park Industrial Estate in the support for the remaining space. industrial suburb of Dandenong South. Good Weighted Average 8 years upon completion, with 3 connectivity to arterial roads and the proposed Lease Expiry further terms of 3 years each Port Shuttle intermodal terminal. Fast access to and from the Port of Melbourne in 45 min. Key Tenant Bunzl Outsourcing Service Tenants : Logistics users Initial NPI Yield 6.7% (6.5% post-cost yield) 10
China: Suburban Business Park Properties to Cater to Growing Demand Sub-sector Business Park (China) Number of 1 Properties Portfolio GFA (sqm) 79,880 % of A-REIT - by GFA 2% - by asset value 2% Location Shanghai Characteristics Biz Parks: A-REIT City @Jinqiao Suburban office, corporate HQ buildings. Well located and within easy access to public transportation networks. Typical tenants Biz Parks: Higher value-added industries such as IT and software companies as well as corporate HQs of multi-national companies and large local corporations. Entrance of A-REIT City @Jinqiao 11
A- REIT’s Steady Growth since Listing 12
Agenda Overview of A-REIT Key Highlights for 1Q FY16/17 Financial Performance Investment Management Capital Management Asset Management Portfolio Update Portfolio Resilience Market Outlook A- REIT’s Strengths 13
Key Highlights for 1Q FY16/17 Total amount available for distribution rose by 15.5% y-o-y to S$106.9m Estimated DPU grew 4.0% y-o-y to 3.996 cents from 3.841 cents in 1Q FY15/16. Key performance drivers were: • Contributions from new acquisitions: Australian Portfolio and ONE@Changi City • Lower utilities expenses due to lower rates secured for certain properties with effect from 1Q FY16/17 • Increase in Singapore portfolio occupancy and positive rental reversion of 4.1% achieved over preceding contracted rental rates 14
Recommend
More recommend
