Investor Presentaiton
Celebrating 50 years FY22 Additional Information
Retail: portfolio details
FY22
FY21
RETAIL GEOGRAPHIC DIVERSITY 8
No. of properties¹
GLA 2
Portfolio value 3
WACR
Property net-operating income (NOI)
Like-for-like NOI growth"
Maintenance capex
12
15
347,800 sqm
409,569 sqm
$2,871m
$3,160m
5.35%
5.47%
$153m
$157m
0.2%
(2.0%)
Sydney 68%
Brisbane 26%
◆ Melbourne 3%
●Canberra 3%
$3m
$19m
Incentive capex 5
$20m
$12m
Occupancy (by area)
GLA leased
% of portfolio GLA leased
WALE (by income)
97.6%
98.0%
52,185 sqm
48,973 sqm
14.5%
11.6%
3.2 yrs
3.6 yrs
RETAIL RENT REVIEW STRUCTURE 10
WALE (by area)
4.2 yrs
4.3 yrs
Specialty occupancy cost 6
Total comparable MAT
17.3%
$2,650m
14.7%
$3,070m
Total comparable MAT productivity?
$10,245/sqm
Total comparable MAT growth
0.1%
Specialties comparable MAT productivity?
$9,382/sqm
$9,440/sqm
(1.5%)
$9,189/sqm
Fixed 81%
CPI linked 13%
● Other 6%
Specialties comparable MAT growth
(7.3%)
(0.5%)
New leasing spreads
(5.7%)
(8.3%)
Renewal leasing spreads
(0.3%)
(5.1%)
Total leasing spreads
(1.4%)
(5.9%)
1. Excludes IPUC.
2. Excludes 80 Bay & 1-3 Smail Streets, Ultimo.
3. Portfolio value includes IPUC and represents fair value (excludes gross up of lease liability under AASB 16).
FY22 IPUC value of $302m and FY21 IPUC value of nil. Subject to rounding.
4. Excludes COVID-19 impact.
5. Includes cash and fitout incentives.
6. Includes contracted COVID-19 tenant support.
7. In line with SCCA guidelines, adjusted productivity for tenant closures during COVID-19 impacted period.
8. By portfolio value. Brisbane includes Sunshine Coast.
9. By portfolio value, excluding IPUC as per PCA classification.
10. By income, excludes lease expiries.
50
mirvac
RETAIL DIVERSITY BY GRADE 9
Regional 42%
Sub Regional 30%
Outlet 15%
Neighbourhood 7%
CBD Retail 6%
11 AUGUST 2022 67View entire presentation