Strategic positioning of the portfolio to east coast urban infill locations combined with continued leasing success has delivered a further 6.5 cents per security to Propertylink securityholders during the six months to 30 June 2018.
Independent valuations across 100% the wholly owned industrial portfolio resulted in an estimated increase of $37.1 million or approximately 5.5% on book value during the second half of FY2018, with NSW and Victoria delivering 85% of the uplift. For the full year, revaluations have delivered an uplift of 13.1% on carrying values on a like for like basis, with the weighted average capitalisation rate across the portfolio compressing to 56 basis points to 6.66%.
External and internal valuations across the investment management platform resulted in an increase in Propertylink’s co-investment in external funds of approximately $1.8 million in the six months to 30 June 2018.
Read more in The Australian here.