Villa Mia, Benoni - Indluplace buffet... · Current portfolio will increase by over 40% to 9 633...
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Transcript of Villa Mia, Benoni - Indluplace buffet... · Current portfolio will increase by over 40% to 9 633...
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Buffet transaction -September 2017
Villa Mia, Benoni
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Upper East Side, Boksburg
INTRODUCTION
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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
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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
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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
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DIVERSE
Rothchild Manor, Roodepoort
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DIVERSE LOCATIONS
Jhb cbd22%
Jhb west17%
Jhb east38%
Jhb north2%
Vanderbijl8%
Jhb south9%
Durban4%
Buffet only
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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%
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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
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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
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Cranborough Mews, Randburg
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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.
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Jackson’s Cove, Jhb South
FINANCIALS
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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%
^
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THANK YOUCarel de Wit (CEO) : 082 808 5794 / [email protected] Kaplan (FD): 079 529 2935 / [email protected]
Eloff Str, Johannesburg
CBD