Auckland asset tour presentation

Auckland asset tour
Kiwi Property
4 December 2018

Kiwi Property >
Auckland asset tour
2
Auckland asset tour > 4 December 2018
agenda
NoteAll
information is as
at 30-Sep-18
unless otherwise
stated.
Front cover
image
Photo by
Samuel Ferrara
Slide 2 image
Photo by Henry
McIntosh
agenda
8.30amWelcome and introduction
8.45amTour of Kiwi Property offices
9.00am Tour of Vero Centre
9.35amOverview of Drury
9.50amBreak
10.05am Bus to Drury
11.05amBus to Sylvia Park
11.25am Overview and tour of Sylvia Park
1.05pmLunch ‘Little District’
2.05pm Return bus to Vero Centre
presented by
Clive Mackenzie, Chief Executive Officer
Gavin Parker, Chief Operating Officer
Elizabeth Davidson, Development Manager
Kylie Eagle, Head of People and Culture
Michael Holloway, GM Commercial
Susan Jamieson, Sylvia Park Centre Manager
Ian Passau, GM Development
Warwick Shaw, Commercial Asset Manager
Linda Trainer, GM Retail

Vero Centre

Kiwi Property >
Vero Centre
4
Auckland asset tour > 4 December 2018
overview
constructed 2000
acquired2001
last refurbished2016
netlettable area
1
39,539 sqm
typical floorplate1,200 sqm
carparks
1
420
WALT
1
7.0 years
long-termoccupancy
(since 2003)97
%
Note 1As at
30-Sep-18.

Kiwi Property >
Vero Centre
5
Auckland asset tour > 4 December 2018
Kiwi Property’s new Auckland workplace
collaboration
wellbeing
flexibility
energy
we’re people-people
we lead
we have a passion for
excellence
we do what’s right
creating exceptional
workplace for our
exceptional people
free to be, and
inspired to do, our
best together
workplace vision
way of working vision
way of working aspirations
productivity
our values

Kiwi Property >
Vero Centre
6
Auckland asset tour > 4 December 2018
Kiwi Property’s new Auckland workplace

Kiwi Property >
Vero Centre
7
landlord’s and tenant’s works: Suncorp
Auckland asset tour > 4 December 2018
◄Photo courtesy Alaska Construction.
Photography by Mark Scowen.

Kiwi Property >
Vero Centre
8
Auckland asset tour > 4 December 2018
landlord’s and tenant’s works: Russell McVeagh
All photos
courtesy Alaska
Construction.
Photography by
Ben Levy.

Drury

Kiwi Property >
Reshaping Drury
Auckland asset tour > 4 December 2018
planning and rezoning process
acquisition
land purchased progressively since
2015
Kiwi Property holdings~51 hectares
purchase price ~$50 million
structure plan update•Council released draft Structure Plan
October 2018
•Council reviewing public feedback
and expected to release revised
draft Structure Plan early 2019
•finalised Structure Plan expected
mid 2019
next steps
prepare Plan Change documentation
to support desired zoning
development
timeframe
over the next 20 years
Structure plan process underway
Plan Change Zoning changes to be sought
Development approvals
Enabling infrastructure works
10

Kiwi Property >
transportation connections
Motorway(SH1)
Railway
Great SouthRoad
Reshaping Drury
11
Auckland asset tour > 4 December 2018
transport connections and activity nodes
activity nodes
1.Auckland CBD
2.Sylvia Park
(11kms from CBD)
3.Manukau
(10.5kms from Sylvia Park)
4.Takanini
(9kms from Manukau)
5.Papakura
(4.5kms from Takanini)
6.Drury Town Centre
(16.7kms from Manukau)
7.Auckland International Airport
1. AucklandCBD
2. SylviaPark
3. Manukau
4. Takanini
5. Papakura
6. Drury Town Centre
7. Auckland
International Airport

Kiwi Property >
Reshaping Drury
12
Auckland asset tour > 4 December 2018
access and locality
Kiwi Property land
Existing urban areas/SHA
Future urban
access and locality
Motorway
Railway
Great SouthRoad
Proposed
town centre
Drury
Drury
West
Drury
West
Drury
Opaheke
NoteIndicative plan only.

Kiwi Property >
existing infrastructure
Southern motorway
Principal arterial
Existing local road
North Island main trunk
line
Kiwi Property land
Reshaping Drury
13
Auckland asset tour > 4 December 2018
existing infrastructure
NoteIndicative plan only.

Kiwi Property >
proposed government
infrastructure upgrades
Southern motorway
Principal arterial
Existing local road
Southern rail line
Proposed train station
Upgrade to existing
Proposed park and
ride
Upgrade to existing
Future Mill Road
Kiwi Property land
Aurangaland
Stevensonsland
Fulton Hogan land
Reshaping Drury
14
Auckland asset tour > 4 December 2018
proposed government infrastructure upgrades
P
NoteUpgrades and timings are yet to be
confirmed. Infrastructure location and road
alignments are subject to change. Land
holdings are approximate and actual
landholdings ownership may differ.

Kiwi Property >
Reshaping Drury
15
Auckland asset tour > 4 December 2018
land ownership
NoteLand holdings and ownership are
approximate. Actual land holdings may differ to
what is shown on this plan.
Fulton Hogan
Stevensons
KIWI
PROPERTY
Quarry
Road
SHA
Auranga
SHA1
SHA2
SHA2
Oyster
Capital

Kiwi Property >
Reshaping Drury
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Auckland asset tour > 4 December 2018
indicative dwelling numbers and staging plan
timingarea
anticipated
dwellings (no.)
Live zone
Drury West1,350
Drury South750
Proposed
decade one
Drury West8,279
Drury East5,679
Proposed
decade two
Drury West3,574
Drury East8,975
total28,607
Proposed
decade two
Proposed
decade two
Proposed
decade one
Proposed
decade one
Live zone
Live
zone
NoteAnticipated dwellingsto be achieved in Drury, subject to
market demand. Proposed Structure Plan development staging is
subject to Council approval.

Sylvia Park

Kiwi Property >
Sylvia Park
18
Auckland asset tour > 4 December 2018
plan
south
carpark
galleria
central
carpark
dining terrace
The Grove
Dining District
No.1 Sylvia
Park
potential
No.2 Sylvia
Park

Kiwi Property >
The Grove Dining District
19
Auckland asset tour > 4 December 2018
outdoor dining lane at Sylvia Park
>completed Dec-17
>contemporary, landscaped alfresco dining
experience with 10 dining options

Kiwi Property >
No.1 Sylvia Park
Auckland Asset Tour > 4 December 2018
office tower at Sylvia Park
20

Kiwi Property >
No.1 Sylvia Park
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Auckland asset tour > 4 December 2018
office tower at Sylvia Park
project status
>building completed Oct-18
>IAG in occupation over 2.5 floors (on a
12-year lease)
>ANZ Bank have leased 5.5 floors (on a 9-
year lease)
•lease commences between
Jun-19 and Dec-19
financial metrics
total project cost$80.2m
projected Y1 yield5.4
%
projected Y3 yield
(on full ANZ occupation)
7.4
%
projected 10-year IRR>9.0
%
timetable
construction commencedAug-16
construction completionOct-18
cost profile
($m)
spent toto spend
FY181H FY192HFY19
incl letting up
allowances
48.816.415.0

Kiwi Property >
Central carpark
22
Auckland asset tour > 4 December 2018
project status
>new five-level carpark building
•~600 carparks
•vehicle management system
•well located between Zara and H&M
•enhanced customer amenity
financial metrics
total project cost$36.3m
timetable
construction commencedApr-17
construction completionNov-18
cost profile ($m)
spent toto spend
FY181H FY192HFY19FY20
incl letting up
allowances
20.012.14.2-

Kiwi Property >
Kmart
23
new discount department store at Sylvia Park
>new 5,000 sqm Kmart store in former Countdown
space (including an additional ~600 sqm
expansion)
>construction commenced Oct-18
>due to complete mid-19
financial metrics
total project cost$10.6m
timetable
construction commencedOct-18
target construction completionmid-19
cost profile ($m)
spent toto spend
FY181H FY192HFY19FY20
incl letting up
allowances
-0.78.21.7
Auckland asset tour > 4 December 2018

Kiwi Property >
Galleria and south carpark
24
Auckland asset tour > 4 December 2018
existing
centre
other
projects
1
galleria
(lost)
galleria
(new)
completed
centre
net lettable area (sqm)
majors30,600580-8,10039,280
mini-majors17,600--2,20019,800
specialty/other26,800-(400)7,70034,100
offices-11,400--11,400
total centre75,00011,980(400)18,000104,580
tenancies (no.)
majors4--15
mini-majors16--319
specialty/other200-(6)59253
offices (levels)-9--9
total centre2209(6)63286
carparks
number3,937825(662)9005,000
ratio
2
(overall)5.34.8
ratio
2
(retail)5.35.4
Note 1Other projects includeNo.1 Sylvia Park, Kmart, the central carpark and
Carbine Road staff parking.Note 2
Carparkratios are stated per 100 sqm of NLA.
The ‘retail’ measure excludes office and storage.

Kiwi Property >
Galleria
25
Auckland asset tour > 4 December 2018

Kiwi Property >
South carpark
26
Auckland asset tour > 4 December 2018

Kiwi Property >
Disclaimer
27
Kiwi Property Group Limited (‘Kiwi Property’) has prepared this presentation (the ‘Presentation’) and the information contained in it is
intended to provide general information only and does not take into account your individual objectives, financial situation or needs. It is
not intended as investment or financial advice and must not be relied upon as such. Some of the information in this Presentationis based
on unaudited financial data which may be subject to change. You should assess whether the Presentation is appropriate for you and
consider talking to a financial adviser or consultant before making any investment decision. This Presentation is not an offer or invitation
for subscription or purchase of securities or other financial products.
All reasonable care has been taken in relation to the preparation and collation of the Presentation. Neither Kiwi Property, its directors,
officers, employees, agents, associates, nor any other person accepts responsibility for any loss or damage howsoever occurring resulting
from the use of or reliance on the Presentation by any person.Past performance is not indicative of future performance and no
guarantee of future returns is implied or given.
caution regarding forward-looking statements
This Presentation includes forward-looking statements regarding future events and the future financial performance of Kiwi Property. Any
forward-looking statements included in this Presentation involve subjective judgement and analysis and are subject to significant
uncertainties, risks and contingencies, many of which are outside the control of, and are unknown to Kiwi Property, its directors, officers,
employees, agents and associates.
Actual results, performance or achievements may vary materially from any forward-looking statements and the assumptions on which
those statements are based including, without limitation, in particular because of risks associated with the New Zealand economywhich
could affect the future performance of Kiwi Property’s property portfolio, its ability to obtain funding on acceptable terms,th e risks
inherent in property ownership and leasing, and Kiwi Property’s business generally. Given these uncertainties, you are cautioned that this
Presentation should not be relied upon as a recommendation or forecast by Kiwi Property, any of its directors, officers, employees, agents
or associates.None of Kiwi Property, any of its directors, officers, employees, agents or associates undertakes any obligationto revise the
forward-looking statements included in this Presentation to reflect any future events or circumstances.
copyright and confidentiality
The copyright of this Presentation and the information contained in it is vested in Kiwi Property. This Presentation should not be copied,
reproduced or redistributed without prior written consent of Kiwi Property.
Auckland asset tour > 4 December 2018