My initial total of $200.625m is detailed in the table below. I covered the reductions in my original post, so I do not repeat them here. The Rows are:
Ecco
Spring View Towers
Toccato
Subi Strand
Norwood
Arbor North
Unison on Tenth Linq
Aurelia
Motive
The columns are:
A = Assumed number of units that will settle in FY17
B = Total number of units per project
C = Project's value in $m
D = Average unit price $m
E = Revenue $m (A x D x FRI's share). FRI's share is 50%, except for Linq, 100%.
…........................................................................... A ..... B ........ C ........ D .......... E
1 settled. 3 remain for sale. Total 98...................... 3..... 98 ..... 51.5 ... 0.526 .... 0.788
9 settled. 2 for sale. Total 188................................ 2 ... 188 .... 99.6 ... 0.530 .... 0.530
19 settled. None for sale. Total 47.......................... 0 .... 47 .... 83.4 ... 1.774 .... 0.000
68 settled. 6 for sale. Total 264............................... 6 .. 264 .. 162.4 ... 0.615 .... 1.845
53 settled. 5 for sale. 5 not settled. Total 63.…... 10 .... 63 .... 34.5 ... 0.548 .... 2.738
116 settled. 23 for sale. 15 not settled. Total 154.. 38 .. 154 ... 74.4 ... 0.483 .... 9.179
94 settled. 56 for sale. 19 not settled. Total 169... 75 .. 169 .... 81.9 ... 0.485 .. 18.173 68 settled. 35 on sale. 13 not settled. Total116......48 .. 116 .... 65.3 ... 0.563 ... 27.021
150 sales have been achieved of the 227............ 227 .. 227 .. 198.9 ... 0.876 ... 99.450
Slated to complete FY17 – calendar 2016 ......... 143 .. 143 ... 81.8 ... 0.572 ..... 0.900
.......................................................................................................................... 200.625
To estimate NPAT, you could handle the rent as a separate line item, and the management fee if you like, and then use whatever percentage that you fancy to derive a share of NPAT from project settlements. You could even get cute with the expenses, because some are relatively fixed, and others more variable. There are so many variables, so I decided not to get too granular.
(20min delay)
