Centuria Office REIT (ASX: COF) has concluded external valuations on 12 of its 22 investment properties, constituting approximately 49% of the portfolio's value as of December 31, 2023. The remaining 51% will undergo Director's valuations alongside the HY24 results, subject to potential audit-driven adjustments. As of December 31, 2023, the valuations indicate a like-for-like decrease of around $124 million compared to previous book values, reflecting a portfolio decline of approximately 5.6%.
The Weighted Average Capitalisation Rate (WACR) across the entire portfolio increased by 26 basis points from June 30, 2023, to December 31, 2023. COF Fund Manager Grant Nichols highlighted the portfolio's resilience, attracting high-quality tenants with a diversified and staggered lease expiry profile. Detailed property valuations will be disclosed in COF's HY24 results on February 16, 2024, on the Australian Securities Exchange.
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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
