CAPITAL MARKETS DAY THE NETHERLANDS 4 October 2017 1 WERELDHAVE - - PowerPoint PPT Presentation

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CAPITAL MARKETS DAY THE NETHERLANDS 4 October 2017 1 WERELDHAVE - - PowerPoint PPT Presentation

Dec 03, 2023 136 likes •302 views

CAPITAL MARKETS DAY THE NETHERLANDS 4 October 2017 1 WERELDHAVE THE NETHERLANDS MANAGEMENT TEAM PIETER POLMAN MICHIEL BIERMANS DORIS SLEGTENHORST JEROEN VERWOLF KIM DE MUNNIK HANS VERMEEREN RAYMOND TOET Managing Director Business unit

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CAPITAL MARKETS DAY

THE NETHERLANDS

4 October 2017

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WERELDHAVE THE NETHERLANDS

MANAGEMENT TEAM

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RAYMOND TOET Head of Finance & Control 17 years of industry experience MICHIEL BIERMANS Business unit Manager 7 years of industry experience DORIS SLEGTENHORST Business unit Manager 8 years of industry experience JEROEN VERWOLF Business unit Manager 10 years of industry experience KIM DE MUNNIK Business unit Manager 15 years of industry experience HANS VERMEEREN Head

  • f Development

20 years of industry experience PIETER POLMAN Managing Director Wereldhave Nederland 2016 – Current Wereldhave | Managing Director 2014 – 2016 Wereldhave | Head of Leasing 2011 – 2014 Wereldhave | Leasing Manager 2008 – 2011 DTZ Zadelhoff | Consultant Retail Services 2007 – 2008 Unibail-Rodamco

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QUICK RECOVERY FROM BANKRUPTCIES

IMPROVED RETAIL CLIMATE ENABLES FURTHER OCCUPANCY GROWTH

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OCCUPANCY 1/1 YEAR OCCUPANCY 31/12 OCCUPANCY STEADILY IMPROVES TOWARDS THE 98% GOAL FOLLOWING THE 2015 ACQUISITION AT 91.4%

Notes 1 Based on the Wereldhave portfolio in the Netherlands excluding the assets acquired in 2015 2 Occupancy per 30 June 2017

BANKRUPTIES 2012 96.5% 97.1% (3.2%) +3.8% 2013 97.1% 97.0% (3.5%) +3.4% 2014 97.0% 98.0% (2.0%) +3.0% 2015 98.0% 97.9% (2.8%) +2.7% 2016 97.9%

97.0%1/95.8%

(4.0%) +3.1% +0,7% 2011 96.0% 96.5% (0.2%) +0.7% LEASING H1-17 95.8%

(0.3%)

96.2%²

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# of shopping centres 16 Total GLA 548,800 m2 Consolidated owned GLA 409,000 m2 Average size 27,000 m2 # Visitors per year 78m Net rental income (H1 2017) €40.4m LFL NRI growth (H1 2017) 0.8% Occupancy rate 96.2% Net market value €1,479m EPRA Net initial yield (30 Jun 2017) 5.2%

Wereldhave target area Wereldhave assets

GEOGRAPHICAL SPREAD KEY FACTS EN FIGURES

THE NETHERLANDS

PORTFOLIO

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SHOPPING CENTERS

MARKET LEADING POSITION ENABLES OPERATIONAL SYNERGIES

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STERRENBURG, DORDRECHT

GLA: 13,200 m2, Visitors: 3.6m

WOENSEL XL, EINDHOVEN

GLA: 10,300¹ m2, Visitors: 1.9m

WINKELCENTRUM ETTEN-LEUR

GLA: 22,800¹ m2, Visitors: 3.2m

ROSELAAR, ROOSENDAAL

GLA: 18,000¹ m2, Visitors: 5.4m

PRESIKHAAF, ARNHEM

GLA: 35,500 m2, Visitors: 4.3m

KOPERWIEK, CAPELLE A/D IJSSEL

GLA: 24,500 m2, Visitors: 5.6m

PIETER VREEDEPLEIN & EMMAPASSAGE TILBURG

GLA: 46,000 m2, Visitors: 8.8m

EGGERT, PURMEREND

GLA: 20,000 m2, Visitors: 3.6m

¹ Owned by Wereldhave

IN DEVELOPMENT

WINKELHOF, LEIDERDORP

GLA: 17,800 m2, Visitors: 4m

CITY PLAZA - NIEUWEGEIN

GLA: 53,600 m2 , Visitors: 6.8m

IN DE BOGAARD, RIJSWIJK

GLA: 19,400¹ m2, Visitors: 2.6m

EMICLAER, AMERSFOORT

GLA: 19,300m2, Visitors: 4.2m

KONINGSHOEK, MAASSLUIS

GLA: 20,000¹ m2, Visitors: 3.9m

VIER MEREN, HOOFDDORP

GLA: 32,700¹ m2, Visitors: 7.7m

MIDDENWAARD, HEERHUGOWAARD

GLA: 35,100¹ m2, Visitors: 5.6m

KRONENBURG, ARNHEM

GLA: 37,900 m2, Visitors: 5.8m

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DEVELOPMENT

COMMITTED DEVELOPMENT PIPELINE

DE KOPERWIEK | CAPELLE AAN DE IJSEL

Refurbishment: 16.000 m2 Extension: 5.600 m2 Total investment: €28m Pre-let: 61% Ready in 2019

KONINGSHOEK | MAASSLUIS

Refurbishment: 20.0001 m2 Extension: 5.000 m2 Total investment: €26m Pre-let: 82% Ready in 2018

PRESIKHAAF | ARNHEM

Refurbishment: 35.500 m2 Total investment: €19m Pre-let: 69% Ready in 2019

¹ Including third party ownership

TILBURG CITY CENTRE PHASE 1| TILBURG

Refurbishment: 14.145 m2 Total investment: €21m Pre-let: 96% Ready in 2017

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RETAIL MARKET NL

SALES OF TENANTS RISE AGAIN

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* Source CBS

MARKET SITUATION

▪ Robust economic expansion results in wages and price increases ▪ Indexation moving to +0.8% on average (2016: +0.3%) ▪ Increasing demand across several sectors, selective on quality ▪ Strong reduction in retailer bankruptcies (6% to 0.6%) ▪ Retailers rationalising store base still ongoing

1.8% 3.9%

Q1-17

4.4%

Q2-17

3.3%

Q4-16 Q1-16

0.6%

Q3-16

1.2%

Q2-16

TURNOVER CONTRACTS

▪ Continuous increase of # of turnover contracts enables WH to benefit from sales growth ▪ In addition to footfall figures, (monthly) sales reporting by tenants enables the measurement of the success of e.g. :

  • Introduction of new retail concepts / shops
  • Shopping centre management (e.g. opening hours)

145 62 24 185 +123

2015 2012 2016 2017

Retail growth p.a.* # of turnover contracts

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RETAIL MARKET NL

WERELDHAVE FOCUSES ON MID SIZED CONVENIENCE SHOPPING CENTRES

8 Rokade Utrecht

SHOPPING MALL SMALL

Leidsestraat Amsterdam

HIGH STREET

Cityplaza Nieuwegein

MID SIZED SHOPPING MALL

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ORGANISATION

4 BUSINESS UNITS WITH EACH 4 SHOPPING CENTRES

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Managing Director Asset Mgr 2x Leasing Mgr 2x

  • Prop. Acc.

Marketing Mgr Legal Counsel Secretary BU Controller Asset Mgr 2x Leasing Mgr 2x

  • Prop. Acc.

FINANCE

  • DEV. & MAIN

Business unit manager Marketing Mgr Legal Counsel Secretary BU Controller Asset Mgr 2x Leasing Mgr 2x

  • Prop. Acc.

Asset Mgr 2x Leasing Mgr 2x

  • Prop. Acc.

Managing Director FINANCE

  • DEV. & MAIN

LEASING LEGAL MARKETING HR INNOVATION OPERATIONS 18X SHOPPING CENTRES Business unit manager Business unit manager Business unit manager

OLD STRUCTURE NEW STRUCTURE

LEGAL SUPPORT

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10 1,65 1,8 2 2,07 2,24 2,46 2,6 2,84 5.64 6,25

Note: As of 20-Aug-2017

Total value of € 29,5m 33,5% of total annual rent Annual rent €m

TOP 10 KEY ACCOUNTS 2017 BLOKKER DEAL OVERVIEW

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WoenselXL Etten Leur Koningshoek Vier Meren Sterrenburg Tilburg Kronenburg Emiclaer Presikhaaf Koperwiek CityPlaza

SC

12x adjusted contract 1x new contract 9x relocation 1x termination

m²

2,120 1,590 450 775 1,550 1,180 1,610 955 1,410 4,300 NL 5x 5x 5x 7x 15,940m²

LEASING

KEY ACCOUNT APPROACH

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IMPLEMENTATION OF WERELDHAVE CONCEPTS

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FRESH STREET F&B COURT KIDS PLAY AREA TOILET

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FRESH STREET

NEXT TO THE SUPERMARKET 2012 2017

Fresh Fashion Other

INCREASE OF ERV  INCREASE OF DWELL TIME @ FRESH STREET 

Fresh Fashion Other (services)

+20.1% 2017 2012 2017 2012 2015 14.2 min

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KIDS PLAY AREA

COMBINED WITH F&B

Source: Company info & PFM

Kids play area realized in 2015

E.G. IN DE ROSELAAR THE KIDS PLAY AREA HAS BECOME A POPULAR PLACE

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20 30 40 100 200 300 400 500 600 j/16 a/16 s/16 o/16 n/16 d/16 j/17 f/17 m/17a/17m/17 j/17 Total visitors Playground

€3,906 €4,143 +12.1% €4,378 2015 2016 2017 LTM

WHICH RESULTED IN A +12% INCREASE OF TENANT TURNOVER

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F&B COURT

DIFFERENT F&B CONCEPTS ON A CENTRALLY LOCATED SQUARE

F&B court realized in 2013

INCREASE OF TURNOVER 

+6.1% 2017 FC 2016 2015 2014 New F&B tenants and facilities full implemented Sales per m2

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IMPLEMENTATION OF WH CONCEPTS

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35% 20% 45% 56% 19% 25% 56% 13% 31% 50% 19% 31%

Present Not present In development

FRESH STREET F&B COURT KIDS PLAY AREA TOILETS

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