IntroductionToAnnington-2019-web - Page 28



Introduction to Annington 2019
OPPORTUNITIES FOR GROWTH
GROWTH OPPORTUNITIES FOR ANNINGTON
PRS - RIGHT STOCK, RIGHT PLACE, RIGHT PRICE
• Differentiated PRS strategy focused on family homes
2 significant opportunities:
• Annington has the option to retain released MQE units for rental or make opportunistic acquisitions on the open market
• Exploiting and maximising the unique attributes of the management platform
PRS - Clear competitive advantage
Significant opportunity to add to existing rent-stabilised PRS portfolio
Proprietary pipeline
Exposure to a unique proprietary pipeline of c.40,000 homes valued at £9.1bn1
Day 1 rent stabilised
income stream
Existing rented portfolio of c.1,800 homes with a Property Fair Value of £410m,
48% let on long term leases and 52% on ASTs
Experienced management
Established management team with significant industry experience and knowledge
Long track record
Twenty year track record of refurbishment and new build skills, property and utilities
management, dilapidations and legal/conveyancing services.
Scaleable platform
Established and scaleable operating platform
Strategy
Clear and differentiated
| Annington Limited Introduction to Annington 2019
Source: Company Data as at 31 March 2019
1. Vacant Possession Value
28
PinnPoint, Uxbridge
• Demand for professionally managed Private Rented Sector property is increasing even if current political uncertainty
encourages caution
MQE pipeline
Proprietary pipeline: c.39,000
units rented to MoD, of which
c.7,300 are empty
ANNINGTON PRS
OPPORTUNITY
Fully let portfolio of residential
properties: c. 1,800 units
Leased to
Site releases
Sites from the 500 units p.a.
released by the MoD, which
meet the investment criteria and
complement Annington’s existing
PRS portfolio
Standing stock
Open market
• Site acquisition and direct
development
• Individual tenants
• Bulk tenants including
Local Authorities
• Forward funding limits
development risk
• Acquisition of individual
tenanted properties and assets
• Portfolios and corporate
acquisitions
| Annington Limited Introduction to Annington 2019
• Adding to Annington’s existing PRS portfolio through organic growth and external acquisitions
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