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Qld Affordable Housing Consortium Ltd and the DNA Partnerships

Qld Affordable Housing Consortium Ltd and the DNA Partnerships CALL FOR 15,000 DWELLINGS www.dnapartnerships.com.au www.qahc.asn.au Call For 15,000 Dwellings NRAS Round 3 is Open and the Consortium has already submitted over 3,000 dwellings

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Qld Affordable Housing Consortium Ltd and the DNA Partnerships

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  1. Qld Affordable Housing Consortium Ltd and the DNA Partnerships CALL FOR 15,000 DWELLINGS www.dnapartnerships.com.au www.qahc.asn.au

  2. Call For 15,000 Dwellings • NRAS Round 3 is Open and the Consortium has already submitted over 3,000 dwellings • Our priority States are NSW, Victoria and South Australia [But we welcome proposals from across Australia] • The Consortium will lodge a minimum submission of 1,000 Dwellings per month, every month until September. We package small and medium sized sites as well as large sites to meet the minimum 1,000 dwellings per submission • All dwellings must be ready to let by June 2012 • Call Mike on 0438 112 553 or Robin on 07 3844 9947

  3. Examples Of Approved Stock 14 x 3 Bedroom Townhouses • 5 schools within 2 km, closest 300 m • Bus service located 300 m to property • 11 km from Brisbane CBD

  4. NRAS – A Supply-Side intervention • Supply shortfall of 200,000 dwellings by 2013 [NHSC -2009] • NRAS is an industry policy response to drive supply of at least 50,000 new rental homes • Tax Free Incentives of $8,672 [indexed] per dwelling / per year for 10 years stimulates new investment • NRAS improves affordability for working families by providing a minimum 20% discount to market rents for the 10 year NRAS period. [25.1% in our Model]

  5. Quality in design and production 39 x 1-3 Bedroom Apartments • 6 schools within 2 km, closest 500 m • Train service located 1.1 km from property • 1.5 km from Caboolture CBD

  6. NRAS Market designs and type Market built Normal Market valuation Privately owned 10 years in NRAS Market based rent – discounted and indexed Private rental tenants with improved tenant choice Diversified portfolio and integrated delivery within mainstream developments and infill sites NRAS is a market product

  7. Traditional stock within a larger developments 28 x 4 Bedroom Houses • 12 schools within 6 km, closest 2 km • Bus service located 3.3 km to property • 3.4 km from Caboolture CBD

  8. NRAS – Who are the tenants 1.5 million eligible households underpins strong demand Key workers: Childcare workers, firefighters, nurses and hospital support workers, teachers, public transport workers, local council workers, community workers. Many workers on award wages. Part time and casual workers Over 55’s on low to moderate incomes NRAS can assist economic outcomes eg hospitality and retail workers in tourist areas Single Adult $41,514 2 Adults $57,391 Couple + I child $71,159 Single + 1 Child $57,432 Couple + 2 Children $84,927 Single + 2 Children $71,200 Couple + 3 Children $96,695 Households that are NRAS tenants can earn 25% more than these limits and still retain eligibility, promoting neighbourhood stability and orderly re-letting

  9. New Growth Corridors close to jobs 31 x 4 Bedroom Houses • 8 schools within 10 km, closest 2.3 km • Train service located 2.5 m walking distance • 29.4 km from Gold Coast CBD

  10. What rents are considered affordable Under the Consortium Model Investors receive the full $8,672 per year tax free income and provide a 25% discount in rents under ATO Charitable requirements By mapping rents and income levels, we can demonstrates the Scheme’s is clearly targeted to working families. Discounted rents are simply not affordable to those on social incomes. These are some examples of market and affordable rents under NRAS $35,000 Single person Income = $250 market rent is $187 discount rent $45,000 Household Income = $300 market rent is $225 discount rent $55,000 Income = $400 market rent is $300 discount rent $75,000 Income = $530 market rent is $397 discount rent $85,000 Income = $600 market rent is $450 discount rent $95,000 Income = $685 market rent is $515 discount rent

  11. Universal Design Standards Apartments for retirees and also workers [particularly retail and hospitality] Prospective Image • 241 Apartments in Total • 150 Available to NRAS • Studio • 1 Bedroom • 2 Bedroom Google Map 20k • 1.8km from School • 0.1km from Transport • 0.1km from the water

  12. How we Facilitate Your Participation • We provide information about NRAS and affordable housing to assist your decision making • Assess your proposed development projects to see if they:- • Meet Government Requirements • Can attract a pool of eligible tenants • Provides good investment values and returns • Make a Submission to Government for the Project • Provide any special assistance required for packaging and delivering the project • Undertaking marketing and sales through our Institutional Strength Investment Platform • Take a 10 Year Headlease over the dwelling • Allocate and supervise property management for 10 years • Facilitate access to the Tax Incentives and net income streams

  13. Regional Centre’s with good job prospects 6 x 3 Bedroom Townhouses 9 x 3 & 4 Bedroom Houses • 8 schools within 15 km, closest 1.2 km • Train service located 1.4 km from property • 17 km from Gladstone CBD

  14. Stock Selection: Type, Location and Proportions Locations are characterised by Strong demand and rental stress Good existing infrastructure, transport, services and jobs [Capital Cities / Growth Corridors / strong regional cities] NRAS stock is market stock. It can be in master-planned communities, green-field or infill sites Typically around 15 – 25% in house and land integrated in master-planned or green-field sites 50% in infill, or in some cases a full apartment block or townhouse development if integrated in the wider area Housing types reflects household, demographic and market supply factors: Around 50% target for 1 and 2 bed dwellings and around 50% target for 3 and 4 bed dwellings

  15. Affordable housing where people want to live 31 x 1 & 2 Bedroom Over 55’s Apartments • Services and recreation on site • Bus service located 125 m walking distance • 12 km from Maroochydore CBD

  16. DNA PartnershipsAn institutional strength aggregation product platform for supporting a legislated Commonwealth initiative – The National Rental Affordability Scheme (NRAS) Governed by DNA Mutual Ltd and administered by Integration Management and Communication Services Pty Ltd

  17. NRAS ASSET TRANSACTION PROCESS Sales to open market Unitised Trust Sales to open market INSTO DNA NRAS Property sold to market AFSL Self Regulated INSTO DEVELOPERS Investment Committee ACCEPTED NRX listing For sale Wholesale Distribution Regulator Institutional NRAS INSTO Real-estate Performance Transaction Satisfies Approval Criteria Set by Investment Committee Research AFSL Valuation Research Eligibility AFSL Direct $400k

  18. Smaller dwellings to meet diverse needs- right in the heart of the town 36 x 2 Bedroom Apartments • 13 schools within 4 km, closest 500 m • Bus service located 700 m from property • 700 m from Caboolture CBD

  19. Managing the NRAS investment A fully managed investment Legislation, Regulation and Compliance Investment through financial instrument or real property Owners Pack with 10 year Headlease and Property Management Agreement Secure income stream[NRAS does not facilitate guaranteed income] Tailor-made Group Insurance based on risk profiling – provides cash-flow payment in certain circumstances ATO private ruling on the flow through of the Tax Incentive to Investors Performance based management with 2 weeks vacancy cover in any lease period Buying and selling Creating a strong diverse market of buyers and sellers Normal Bank repossession provisions Owner Right to sell out of NRAS Option to sell to another investor with NRAS intact Potential to provide ‘rent to buy’ option for NRAS tenants Getting the basics right Good locations and associated infrastructure & diverse portfolio Strong and diverse tenant pool & tenants financially incentivised Standardised performance based property and tenancy management, with a focus on creating strong, mixed income and stable neighbourhoods

  20. On Transport Corridors 14 x 3 Bedroom Townhouses • 5 schools within 2 km, closest 500 m • Bus service located 280 m to property • 7 km from Brisbane CBD

  21. Frequently Asked Questions • Normal market valuations • Normal lending criteria on asset class • Bank powers & repossession rights as normal • LMI – Genworth will insure ‘Mom and Dad’ investors and take NRAS income into account • A National approach and institutional strength product design by way of the Head Lease & Secure Income Stream Delivery • Access to NRAS market through DNA aggregation • Owners can enter and leave the Scheme as a ‘market’ • ATO has a clear position on QAHC Model and investor Tax-Free entitlements

  22. Flinders StMelbourne Prospective Image • 263 Apartments in Total • 70 Available to NRAS • 1 Bedroom • 2 Bedroom Google Map 20k • 1.1km from School • 0.3km from Transport • 1.1km from Flagstaff Gardens

  23. Current Status • 911 Approvals in 2009 • 3,082 dwellings already submitted in 2010. • 15,000 dwellings across Australia to go through our assessment process [ January to August 2010] • 3 sites sold and tenanted • 300+ dwellings now under contracts for sale • Bank retail investment funding expected $3BN. • Institution investment expected $3 BN • Pilot large scale ownership program with financial institutions • Financial products to deliver liquidity- PDS

  24. What are the Consortiums costs and who pays Developers / Builders • To prepare and lodge your project to the Government is $125+gst per dwelling payable to QAHC upon agreement • Once NRAS approved, you provide progress reports and an Environmental Report using our checklist • You will need to hand over dwellings in a ‘Ready To Let’ State – you can use our checklist Owner-Investor • Purchase fees & Legal Fees including Registration of the HeadLease on Title • The Required Group Insurance • Normal Owner Costs • 10% Property Management Fee • $12+gst Compliance Fee per dwelling per week

  25. Popular Town Houses 22 x 3 Bedroom Townhouses • 6 schools within 2 km, closest 600 m • Bus service located 800 m to property • 18 km from Brisbane CBD

  26. Applying For NRAS • Whatever your proposed portfolio for NRAS it will need to be part of a minimum 1,000 dwellings-. We package up smaller projects to meet the 1000 minimum threshold • Review NRAS Documentation at www.qahc.asn.au and complete the Round 3 EOI on our website • Decide your sales or holding strategy including any agreement to access DNA national NRAS distribution platform • Review Stock Profile checklist and identify the numbers and locations and types you are offering. [Must have D.A or close to D.A decision to submit to NRAS] • QAHC reviews your Expression of Interest and negotiates a mutually agreeable number and type • QAHC issues Submission Checklist and invoices lodgement fee • QAHC Submissions will be made monthly and Government turn around times expected to be 8-10 weeks • If NRAS Approved, sign the Heads of Agreement to provide contractual certainty to deliver

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