Growthpoint Properties Australia (ASX Code: GOZ) Growthpoint Properties Australia Trust ARSN 120 121 002 Growthpoint Properties Australia Limited ABN 33 124 093 901 AFSL 316409 www.growthpoint.com.au USPP Investor Presentation – October 2018 836 Wellington Street, West Perth, WA
Growthpoint Properties Australia: Overview Who are we? Our history Key portfolio highlights 1 GOZ commenced in its current form in Growthpoint (GOZ) is an ASX-listed 2009 with A$650 million of industrial landlord with a mandate to invest in property. It has grown and diversifjed to Australian offjce, industrial and retail real now own A$2.2 billion of offjce property Industrial portfolio Office portfolio property with a portfolio of 57 assets (34%) and A$1.1 billion of industrial 31 26 currently valued at A$3.4 billion 1 . property (66%) in every Australian State GOZ is included in the S&P/ASX 200 Assets valued at Assets valued at and in the Australian Capital Territory. $1,146.8 million $2,209.3 million index (among other indices). GOZ has a credit rating of Baa2 (stable) on senior secured debt from Moody’s. GOZ is both the owner and the manager of the real properties What we do (Growthpoint Properties Australia Trust). Weighted average Weighted average All properties are 100% owned by GOZ. lease expiry (WALE) debt maturity (WADM) GOZ seeks to provide investors 5.3 yrs 5.0 yrs with long-term capital growth and a continually growing income stream with 100% of income derived from rent of Stapled Securities properties owned and managed. 99 99 How we do it 60 98 98 56.1 Growthpoint Growthpoint 97 Manager Properties Properties Australia Limited Australia Trust GOZ acquires modern, well-located 33.9 properties leased to high quality tenants 25 and holds assets for the medium to 2014 2015 2016 2017 2018 2013 2018 Properties long term. Portfolio occupancy (%) Gearing (%) 1. As at 30 June 2018. 1. May not sum due to rounding. 2 Growthpoint Properties Australia USPP Investor Presentation | October 2018
Property Portfolio 1 87% At 30 June 2018 of properties located on Eastern Seaboard Offjce properties Industrial properties 26% (number of assets) Queensland $876.9m – Office $632.0m – Industrial $244.9m 27% Office portfolio New South Wales $893.5m 98% 7 4 – Office $699.3m – Industrial $194.3m Occupied 2 5% 6 5 2 4 Australian Capital 2 Territory $167.5m Industrial portfolio – Office $167.5m 6% 8 16 99% 6% Western Australia 29% Occupied $211.7m South Australia – Industrial $211.7m $208.4m Victoria – Office $82.0m 1 $971.4m – Industrial $126.4m 1% – Office $601.8m – Industrial $369.6m Tasmania $26.7m 1. Figures may not sum due to rounding. – Office $26.7m 3 Growthpoint Properties Australia USPP Investor Presentation | October 2018
Property Portfolio (continued) Top ten tenants Portfolio lease expiry profile (%) Annual rent review type (%) 2 by passing rent as at 30 June 2018 per fjnancial year, by income as at 30 June 2018 51 Tenant Credit WALE WARR type rating 1 % (yrs) 1 7 3.3% 17 Woolworths Listed Baa2 15 4.5 8 NSW Police State Gov Aaa 9 5.9 Commonwealth of Australia Fed Gov Aaa 5 7.8 21 Fixed 2.00-2.99% Country Road / David Jones Multi-national n/a 4 13.9 Fixed 3.00-3.99% Linfox Private n/a 4 4.9 11 Fixed over 4.00% 8 6 Samsung Electronics Listed A1 3 3.7 CPI 2 1 CPI +1.00% Lion Listed A3 3 5.8 67 Vacant FY19 FY20 FY21 FY22 FY23 FY24+ ANZ Banking Group Listed Aa2 2 1.7 Jacobs Group Listed n/a 2 7.0 Tenant type (%) Tenant use (%) Queensland Urban Utilities State Gov Aa1 2 4.8 by income as at 30 June 2018 by income as at 30 June 2018 TOTAL / Weighted Average 49 5.9 Listed company 1 2 20 2 2 Offjce Balance of portfolio 51 4.7 Government owned Logistics / Distribution Private company & Manufacturing Total portfolio 100 5.3 other Retail Car Parking 56 Other 32 24 1. Source: Moody’s Investor Services. 2. Leases that have a minimum lease increase, typically 3%, or CPI are shown as the minimum 61 fjxed rate for the above. 4 Growthpoint Properties Australia USPP Investor Presentation | October 2018
Debt maturity profile ($m) At 30 June 2018 Weighted Bank debt Institutional term loan USPP Undrawn bank debt Bank debt / average debt non-bank debt maturity (WADM) 55% / 45% 5.0 years 500 50 120 400 200 300 345 200 250 200 150 100 130 78 0 FY19 FY20 FY21 FY22 FY23 FY24 FY25 FY26 FY27 FY28 FY29 5 Growthpoint Properties Australia USPP Investor Presentation | October 2018
Debt management and gearing Summary of debt facilities Change in gearing and cost of debt (%) (as at 30 June 2018) 65% 8.0% Gearing Secured bank loans Limit Drawn Maturity target range 60% 7.5% Balance Sheet Gearing $m $m 35% - 45% All-in cost of debt 55% 7.0% Syndicated Facility 50% 6.5% - Facility B 100 100 Mar-23 45% 6.0% - Facility C 245 245 Dec-21 40% 5.5% - Facility D 70 70 Dec-21 Targeting 35% 5.0% - Facility E 150 100 Jun-23 fixed 30% 4.5% - Facility G 150 30 Sep-21 65-100% 25% 4.0% - Facility I 75 – Nov-20 of drawn debt - Facility H 75 – Sep-20 0% 0% 200 200 Mar-25 Loan note 1 June 11 June 12 June 13 June 14 June 15 June 16 June 17 June 18 Currently 100 100 Dec-22 Loan note 2 82% 56.1 45.6 46.5 40.3 36.3 41.2 38.5 33.9 Loan note 3 60 60 Dec-22 7.7 7.3 6.7 5.8 4.8 4.1 4.3 4.4 90 90 Dec-22 Fixed bank facility 1 USPP 1 130 130 Jun-27 ICR (as at 30 June 2018) 52 52 Jun-29 USPP 2 26 26 Jun-29 USPP 3 4.0 Total loans 1,523 1,203 4.0x 4.1 4.1 4.2 3.5 3.0 Weighted average Gearing All-in cost 2.9 fixed debt maturity of of debt 2.0 5.5yrs 33.9% 4.4% 1.6x 1.0 0 Dec 13 Dec 14 Dec 15 Dec 16 Dec 17 Dec 18 6 Growthpoint Properties Australia USPP Investor Presentation | October 2018
Appendices SW1, South Brisbane QLD
Portfolio of well-located metro/CBD-fringe office properties Sydney – Parramatta and Melbourne – Richmond Brisbane – South Brisbane Sydney Olympic Park and South Melbourne (SW1) and Fortitude Valley M2 Melbourne CBD M4 Sydney Brisbane CBD CBD 1KM 500M 500M Parramatta, NSW Sydney Olympic Park, NSW South Melbourne, VIC Richmond, VIC South Brisbane, QLD – Fortitude Valley, QLD – $310.0m, 1 property – $265.8m, 4 properties – $190.0m, 1 property – $151.6m, 3 properties $358.0m, 5 properties – $144.0m, 1 property • Parramatta/Sydney Olympic Park vacancy • Melbourne fringe vacancy rate 6.0% • Fortitude Valley and South Brisbane rate 7.5% (versus Sydney CBD 4.8%) (versus Melbourne CBD 4.0%) vacancy rate 13.0% (versus Brisbane CBD 13.9%) • Average net face rent ~$470sqm (versus • Average net face rent ~$440sqm (versus CBD ~$1,100sqm) CBD ~$580sqm) • Average gross face rent ~$550sqm (versus CBD ~$730sqm) 8 Growthpoint Properties Australia USPP Investor Presentation | October 2018
Major infrastructure investment to benefit non-CBD markets VIC - Office VIC - Industrial NSW - Office NSW - Industrial Melbourne Metro Rail CityLink - Tullamarine widening, West Connex, Sydney Light Rail, Second Sydney West Connex West Gate Tunnel Airport, Sydney Metro - City and Southwest 27-49 Lenore Drive, 51-65 Lenore Drive, 75 Dorcas St, 101-111 South Centre Road, 40 Annandale Road, 75 Annandale Road, 1 Charles St, 3 Murray Rose Ave, 5 Murray Rose Ave, Erskine Park Erskine Park South Melbourne Melbourne Airport Melbourne Airport Melbourne Airport Parramatta Sydney Olympic Park Sydney Olympic Park 6-7 John Morphett Place, 120 Link Road, 60 Annandale Road, 9-11 Drake Boulevard, Building C, 219-247 Pacifjc 102 Bennelong Parkway, 6 Parkview Drive, Erskine Park Melbourne Airport Melbourne Airport Altona Highway, Artarmon Sydney Olympic Park Sydney Olympic Park $190.0m $139.6m $699.3m $149.8m 130 Sharps Road, Melbourne Airport ~$1.2bn of Growthpoint property to benefit directly from planned transport infrastructure investment 9 Growthpoint Properties Australia USPP Investor Presentation | October 2018
Contact details: Daniel Colman – Investor Relations Manager Email: Daniel.Colman@growthpoint.com.au Phone: +61 401 617 167 Growthpoint Properties Australia Level 31, 35 Collins Street Melbourne VIC 3000 www.growthpoint.com.au 333 Ann Street, Brisbane QLD
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