GPT portfolio grows by $457m
The increases amount to 3.7 per cent above the 31 December book value, equating to approximately 25 cents per security.
“The investment portfolio continues to deliver strong growth, most notably across our office portfolio, with an increase in market rents making a significant contribution to the overall valuation outcome,” said GPT CEO Bob Johnston.
“The revaluations recorded in the first half represent an increase of approximately 5 per cent on 31 December 2017 Net Tangible Assets per security of $5.04.”
Major contributors to the revaluation uplift included Westfield Penrith (up 6.4 per cent) in the Retail Portfolio, and Australia Square (up 17.3 per cent), 1 Farrer Place (up 11.9 per cent). 2 Park Street (up 10.2 per cent) and MLC Centre (up 8.1 per cent) in the Office portfolio.
Access exclusive analysis, locked news and reports with Inside Retail Weekly. Subscribe today and get our premium print publication delivered to your door every week.
The worst case scenario for many retailers came to fruition on Monday afternoon, when Victorian Premier Daniel Andr… https://t.co/zyRB162Yip2 days ago
Retail in Melbourne to be forced to close from 11:59pm this Wednesday. Contactless click-and-collect and online del… https://t.co/8um79lnp763 days ago