JP Morgan Australian REIT Forum Presentation
Brisbane, Mar 27, 2017 AEST (ABN Newswire) - National Storage REIT (
ASX:NSR) is pleased to provide the Company's latest Presentation at JP Morgan Australian REIT Forum.
1H FY17 HIGHLIGHTS
A-IFRS PROFIT $23.7 million
- 41% increase in underlying earnings 1H FY17 driven by strong trading and recent acquisitions
- FY17 EPS guidance 9.2 - 9.4 cents affirmed delivering 5.8% - 8.0% EPS growth
- 5 new acquisitions adding 27,600sqm NLA in addition to the 26-centre Southern Cross portfolio
- 15% growth in assets under management (AUM) driven by acquisitions and valuation gains of $20.5million. 9.8% growth in net tangible assets during 1H FY17
- 2.6% increase in REVPAM achieved during 1H17. Significant growth in Nov & Dec provides momentum for 2H17
- Institutional term loan delivering 8 and 10 year debt tenors. Gearing reduced to 34.6%
PORTFOLIO, DEVELOPMENT AND CENTRE MANAGEMENT
AUSTRALIAN PRIME STORAGE FUND
- Partnership facilitates the development and ownership of premium grade self-storage centres
- NSR has taken a 24.9% equity interest (up to $12.45 million)
- Three foundation assets at Albion, Kelvin Grove and Carrara with fourth site secured in Melbourne
- Cararra opened September 2016, Albion forecast opening April 2017
- NSR is entitled to fees associated with development and ongoing management
- NSR leveraging brand and management to generate additional revenue and share platform costs, generating further synergies
PERTH DEVELOPMENT PORTFOLIO
- Construction and management agreement covering five centres with Parsons Group
- Jandakot and Butler operational
- Centre in Perth International Airport precinct under construction, due for completion and acquisition in July 2017
- It is anticipated NSR will acquire further assets upon completion
BUNDALL DEVELOPMENT
- Partnership with Leyshon Group facilitates the development and ownership of state-of-the-art self-storage centre together with refurbishment of existing large format retail
- Prominent Gold Coast location with plans for 7,000 sqm self-storage centre
- Construction expected to commence early 2018 and be operational by late 2018
- NSR has taken a 25% equity interest (approx $3.2 million of total development cost)
- NSR is entitled to fees associated with development and ongoing management
- NSR leveraging brand and management to generate additional revenue and share platform costs, generating further synergies
To view the full presentation, please visit:
http://abnnewswire.net/lnk/88264Y67
About National Storage REIT
National Storage (ASX:NSR) is one of the largest self-storage providers in Australia and New Zealand, with 123 centres providing tailored storage solutions to over 40,000 residential and commercial customers. NSR is the first independent, internally managed and fully integrated owner and operator of self-storage centres to be listed on the Australian Securities Exchange (ASX).
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