(unlisted private property developer) for personal use only · indigo group • unlisted, private,...

INDIGO GROUP

(Unlisted Private Property Developer)

Overview of Current Projects and Assets

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Indigo Group

• Unlisted, private, property development and investment company

• Brisbane based

• Top 20 private company in QLD (1) for last 4 years (No. 5 this year)

• Currently developing projects with estimated end value over A$2bn

• Simple structure, two owners (Mitch Nielsen and Laurie Truce)

OVERVIEW

THE INDIGO GROUP

(1) 2008 Annual Q400 survey

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The Indigo Group has property interests spread along the Australian eastern seaboard including:

INDIGO GROUP

OVERVIEW

Oceans Edge: Master planned Res Resort

Drift: Resort Apartments/Hotel

The Village Centre: Retail / Residential

Ashgrove: Residential

Warrill View: Land Subdivision

Caboolture: Industrial

Loganlink North and South: Industrial

Trinity Green: Land Subdivision

Palm Beach: Retail / Residential

Elevation: Land Subdivision

Condon: Land Subdivision / Residential

Martha Cove: Retail / /Residential

620 Bourke Street: Retail / Office

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• Indigo’s strategy is to overlay geographic spread with development across all key property sectors

• This sector / geographic portfolio mix provides significant risk mitigation while staying in the core business of property development

• Indigo uses joint ventures with local partners to mitigate risks when entering new markets• Indigo uses development management agreements (DMA’s) with landowners on long lead time

projects to minimise upfront costs and align incentives

INDIGO GROUP

Indigo Group

Residential Land Residential Apartments Industrial Land Retail / Commercial

OVERVIEW

Projects 5 4 3 3

Forecast End Value (A$)

~$1,500M ~$200M ~$390M ~$80M

Total Size ~5,500 lots ~250 apartments (1) ~130 Ha (2) ~15,000m2 NLA

(1) Not including possible unit yield from Oceans Edge Super Lot sites

(2) Net saleable area, not total development area

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RESIDENTIAL LAND

INDIGO GROUP

Current developments

• Trinity Green: Drewvale, South-East Queensland

• Warrill View: Scenic Rim, South-East Queensland

• Oceans Edge: Palm Cove, Far North Queensland

• Elevation: Lennox Head, Northern New South Wales

• Condon Land: Lennox Head, Northern New South Wales

Residential Land

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Trinity Green

Location: Drewvale, Brisbane

Size: 415 lot subdivision

Current status: ~240 lots developed over 5 stages to date and sold out; 65 lot Stage 6 launched end October; forecast completion early 2011; project on program

Forecast end value: ~$89.0M

Indigo position: 23.5% joint venture partner (site owned)

Highlights: • Price pointed development in a chronically under-supplied market • Proven product as all releases to date are sold out• Strong environmental credentials, retaining large areas of bush land and establishing parkland

INDIGO GROUP

Residential Land

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Warrill View

INDIGO GROUP

Residential Land

Location: Scenic Rim Shire

Size: 600 hectare site, with potential for ~ 4,500 lots and associated new residential community facilities (retail village, schools etc)

Current status: Currently in the SEQ Regional Plan investigationarea; have applied for inclusion into the development footprint in draft SEQ Regional Plan update Dec 08; forecast development start 2012and completion by ~2035

Forecast end value: ~$1.2Bn

Indigo position: 75% of development management agreement (DMA) with the landowner to develop the site and pay for the land out of development revenues as they arise (Indigo Pacific other 25%)

Highlights:• Positioned in western growth corridor and on Cunningham Hwy• Proximity to Ipswich, Amberley and Ebenezer employment nodes• No Government infrastructure required to start development• Helps address major residential land shortage in SEQ which is

driving affordability problem• Assists sustainable rates base for amalgamated Council• Greenfield site – opportunity for best practice new community

design and development

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Oceans Edge

INDIGO GROUP

Residential Land

Location: Palm Cove, Far North Queensland

Size: approximately ~350 lot resort residential community

Current status: 100 lot first stage completed end 2007 and ~40% sold; stage 1 houses under construction; forecast completion in stages to ~2012

Forecast end value: ~$110M

Indigo position: 50% joint venture with Macquarie Bank (site owned)

Highlights: • 30 minutes from Cairns International Airport• Palm Cove internationally recognised as a premium resort destination rivaling Port Douglas• Drop in A$ will lift international and local Australian tourism • Pristine beachfront location amongst established 4 star hotel and tropical landscape• Site includes 6 ‘superlots’ which can be developed as higher density residential (secure pipeline available)

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Lennox HeadIndigo has two development projects in Lennox Head, which is now less than 1.5 hours drive from Brisbane via the new Tugun Bypass and is benefiting from significant infrastructure investment

INDIGO GROUP

Residential Land

ElevationLocation: 5km south of Lennox Head

Yield: 115 residential lots

Current status: 20 lot stage 1 completed and sold out; 25 lot stage 2 released last month; forecast completion 2011


Indigo position: 50% joint venture partner with BMD (site owned)

Condon LandLocation: Lennox Head

Yield: ~150 residential lots

Current status: Application for rezoning and development approval (already included in Ballina Council urban growth plan); forecast start on site early 2010, completion in stages to 2014


Indigo position: 100% of DMA with the landowner to develop the site and pay for the land out of development revenues as they arise

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INDIGO GROUP

Current developments:

• Palm Beach: Gold Coast, South-East Queensland

• Ashgrove: Brisbane, South-East Queensland

• Martha Cove Harbour Precinct: Mornington Peninsula, Victoria

• Eden, Oceans Edge: Palm Cove, Far North Queensland

Recently completed developments:

• The Village Centre, Kelvin Grove, South-East Queensland (213 apartments)

• Drift: Palm Cove, Far North Queensland (129 apartments)

• Martha Cove S2 S4: Mornington Peninsula, Victoria (60 apartments)

Residential Apartments

RESIDENTIAL APARTMENTS

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Pre-approval apartment projectsIndigo has two new residential apartment projects in pre-Development Approval stage

INDIGO GROUP

Residential ApartmentsPalm Beach

Location: GC Hwy and Palm Beach Ave

Yield: 57 apartments

Current status: Development Application


Indigo position: 100% owner (site owned)

Highlights: • ~1 hour from Brisbane with new Tugun Bypass• Beach side of Hwy, all units have ocean views

AshgroveLocation: Ashgrove Golf Course


Current status: Development Application


Indigo position: 100% owner (purchase subject to DA)

Highlights: • Golf course frontage apartments• Strong demographic for shifting into units from family home

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Approved apartment projects

INDIGO GROUP

Residential Apartments

Martha Cove Harbour PrecinctLocation: Mornington Peninsula, Victoria


Current status: Development Application approved end 2007; forecast completion end 2010



Highlights: Waterfront units adjacent to main marina and retail village

EdenLocation: Palm Cove, FNQ


Current status: Development Application approved; forecast completion end 2010


Indigo position: 50% joint venture with Macquarie Bank (site owned)

Highlights: Established precinct, price pointed to compliment house sites

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INDIGO GROUP

Current developments:

• Logan Link South: Logan, South-East Queensland

• Logan Link North: Brisbane, South-East Queensland

• North Moreton Industrial Park: Caboolture, South-East Queensland

Industrial Land

INDUSTRIAL LAND

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Logan Link North and South

INDIGO GROUP

Industrial Land

Location: Logan Link North (Brisbane) and South (Logan)

Size/Yield: Total 47Ha net saleable area (31Ha North and 16Ha South)

Current status: Stage 1 South completed and sold; Development Application for balance South land and North anticipated end 2008; forecast start on site mid 2009, and completion in stages to 2011

Forecast total end value: ~$170M

Logan Link North

Logan Link South

Indigo position: 45% joint venture partner (sites owned)

Highlights• Strategically located adjacent to

Logan Motorway at the Wembley Rd turnpike

• Large individual Lots available• Logan Link South already in the

Logan MIBA zone• Proximity to labor market

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North Moreton Industrial Park

INDIGO GROUP

Industrial Land

Location: Caboolture Shire, SEQ

Size/Yield: 115 Ha developable area (81Ha net saleable)

Current status: Currently under review for inclusion in the SEQ Regional Plan development footprint, with update draft out Dec 08; forecast development start 2012 and completion by 2030


Indigo position: 100% of DMA with the landowner to develop the site and pay for the land out of development revenues as they arise

Highlights• Strategically located next to Bruce Hwy at Pumicestone

Passage Rd turnpike• Strong support from local Council as provides employment

base for Caboolture• Will become the major industrial precinct between Brisbane

and Sunshine Coast (replicating role of Yatala to the south)Caboolture

Bruce Hwy

Turnpike

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RETAIL / COMMERCIAL

Current investments and developments:

• 620 Bourke Street: Melbourne, Victoria

• The Village Centre: Brisbane, South-East Queensland

• Martha Cove Village: Mornington Peninsula, Victoria

INDIGO GROUP

Retail / Commercial

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Office620 Bourke St

INDIGO GROUP

Retail / Commercial

Location: 620 Bourke St, Melbourne

Size/Yield: 5,500m2 NLA

Current status: 100% occupancy


Indigo position: 100% owner

Highlights:• 20% vacancy at purchase end 2007, now fully

occupied• Average rent $250/m2 gross at purchase. 20%

leased since is at average $350/m2 average• Latest rent achieved is $380/m2 gross• Option available to strata title and sell down by

individual floors

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Retail Indigo currently has two retail assets, Village Centre (completed project held as investment) and Martha Cove (in development phase)

INDIGO GROUP

Retail / CommercialVillage Centre Location: Brisbane

Size/Yield: 5,000m2 suburban centre

Current status: Operating centre (held as investment)


Indigo position: 55% joint owner

Highlights: • Anchored by Woolworths• 100% anchor turnover and 37% customer count

increases this year

Martha Cove Village Location: Mornington Peninsula, Victoria

Size/Yield: 4,000m2 suburban centre (2,000m2 approved)

Current status: DA Approved mid 2008, completion ~2011



Highlights: Waterfront precinct, main retail in Martha Cove

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New Project Pipeline

INDIGO GROUP

Indigo’s new project pipeline of has secured 9 developments over the last 3 years with forecast revenues of nearly $1.9Bn

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2005/06 2006/07 2007/08 2008/09

(1) End value to end 2008/09 guide forecast only

# new projects secured per year

3 4 2 2

(1)

DMA Heads of agreement signed for new ~2,000 lot

residential land development within 1 hour Brisbane. Already

in the SEQ Regional Plan development footprint

Includes Warrill View, with forecast development running out to ~2035

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INDIGO GROUP

(Unlisted Private Property Developer)

Summary• Diversified across key property sectors

• Geographic spread

• Deal structures to minimise upfront costs and share upside with land owners (objectives aligned)

• Proven capacity to generate pipeline of new projects

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(unlisted private property developer) for personal use only · indigo group • unlisted, private,...

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