villa mia, benoni - indluplace buffet... · current portfolio will increase by over 40% to 9 633...
TRANSCRIPT
Buffet transaction -September 2017
Villa Mia, Benoni
Upper East Side, Boksburg
INTRODUCTION
INTRODUCTION
The “Buffet transaction” is the biggest acquisition for Indluplace to date.
Three transactions will together add 2 803 residential units and 2 970sqm of retail - worth R1,4bn.
Current portfolio will increase by over 40% to 9 633 residential units and 17 800 sqm of retail - worth over R4,3bn.
Diverse portfolio:• Spread around Gauteng with small exposure in Kwazulu-Natal• Different building types but mostly townhouse complexes and
suburban blocks• Range of rentals• Mostly newly converted / developed, some still under development
Pipeline – additional R500m pre-emptive right to purchase from various development partners
GROWTH IN UNITS
3690
5446 6830
9633
0
2 000
4 000
6 000
8 000
10 000
12 000
Listing June 2015 FY2016 Now Incl Buffet
Uni
ts
Growth last two years - 260%
Portfolio valued at about R4,3bn after Buffet acquisition
TIMELINE
• Announced Buffet transaction on 20 June 2017
• Circular posted on 29 August 2017
• General meeting of shareholders to be held on 27 September 2017
• Competition Commission approval expected during September 2017
• Effective date beginning of October 2017
DIVERSE
Rothchild Manor, Roodepoort
DIVERSE LOCATIONS
Jhb cbd22%
Jhb west17%
Jhb east38%
Jhb north2%
Vanderbijl8%
Jhb south9%
Durban4%
Buffet only
DIVERSE LOCATIONS
0
500
1000
1500
2000
2500
3000
3500
4000
4500
5000
Indlu Buffet
5%
47%
10%
5%1% 1%
Total portfolio 9 633 units in four provinces32%
DIVERSE UNIT TYPES
0
500
1000
1500
2000
2500
3000
3500
4000
4500
5000
Room Bachelor One bed Two bed Three bed Other
Uni
ts
Indlu Buffet
DIVERSE RENTALS (BUFFET)
Post transaction Indluplace will house over 35 000 people catering for families with household income roughly between R4000 and R25 000 pm.
We provide accommodation for over 2 700 students @ average R2128/bed
R 0
R 1 000
R 2 000
R 3 000
R 4 000
R 5 000
R 6 000
R 7 000
R 8 000
R 9 000
Room Bachelor 1 bed 2 bed 3 bed 4 bed Average
Rental/unit/month
Cranborough Mews, Randburg
PROPERTY MANAGEMENT
• Indluplace outsources the entire property management function to specialists with strong brands in our areas of operation.
• We use experienced property management companies.
• Currently almost 70% of the units are managed by our existing managers (Amorispan, Mafadi and Prime). We are in the process of allocating properties to suitable managers with capacity.
• Most of the properties are currently being managed on the MDA property management system, similar to Indluplace.
Jackson’s Cove, Jhb South
FINANCIALS
BALANCE SHEET
Pre-Buffet Buffet Post BuffetInvestment Property 2 900 229 155 1 400 000 000 4 300 229 155
Equity 2 700 229 155 145 000 000 2 845 229 155 Loan facility 200 000 000 1 255 000 000 1 455 000 000
Portfolio LTV 6.9% 89.6% 33.8%
^ - Vendor placement
Equity yield 10.75% 10%3 Year fixed 9.10% 45%5 Year fixed 9.60% 45%Blended 9.49%
^
THANK YOUCarel de Wit (CEO) : 082 808 5794 / [email protected] Kaplan (FD): 079 529 2935 / [email protected]
Eloff Str, Johannesburg
CBD