ersonal use only
H1 FY22
RESULTS
BRIEFING
31 December 2021
Bonny View Tavern, Bald Hills, QLD
Investment thesis
ersonal use only
Strong investment fundamentals:
- 5.9% - forecast yield for FY22 (as at 7/2/2022 Security Price)
- $3.82 NTA per security, up 15.8% from June 2021
- WALE 10.6 years and average option period of an additional 18.8 years
- Rent reviews linked to CPI - 71.2% of leases by income reference CPI, provides a natural hedge in an inflationary environment
Strong tenant covenant across the 56 properties owned by HPI
- 42 leased to Queensland Venue Company ("QVC"), which is a joint venture between Coles Limited and Australian Venue Company ("AVC")
- 8 leased to AVC
- 6 leased to other experienced operators
2
Contents
only | H1 FY22 highlights |
use | |
ESG | |
H1 FY22 financial results | |
Property portfolio | |
ersonal | Acquisitions |
Pub refurbishments | |
Outlook |
3
ersonal use only
H1 FY22 highlights
H1 FY22 highlights
only | $58.9m1 of equity raised |
use | Acquisition of 2 pubs for $35.6m1 |
Income producing investment in our existing portfolio | |
totalling $69.2m1 via a capex and lease harmonisation | |
projects | |
Completed retail development at Ferry Road yielding | |
ersonal | 8.0% |
5 year option at Trinity Beach exercised, extending | |
lease from June 2022 to June 2027 | |
1 Before costs |
A strong working relationship with our principal tenant continues to present investment opportunities
Multiple capital refurbishment programs are improving operational performance of the underlying pub business
Increasing geographic and tenant diversification of our property portfolio
$3.0m indirect investment into Harvest Funds, a pub freehold going concern investment vehicle, providing future opportunities and options
5
This is an excerpt of the original content. To continue reading it, access the original document here.
Attachments
- Original Link
- Original Document
- Permalink
Disclaimer
Hotel Property Investments Ltd. published this content on 16 February 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 February 2022 21:39:20 UTC.