The annct didn't reference special dividend... but maybe they are waiting until settlement. I'd expect that they had enough reserves for the major refurbs (BNE/Parra) put aside well before this property was sold.
I'm happy they got rid of it, though my only concern is that it was the longest WALE, and newest building (therefore the most marketable). Would have preferred St Kilda Rd or the Canberra Buildings on the block (though likely they are for sale as well.)
So if the business is now ~25cps cash. That leaves only 75c ($123M) for the remaining office buildings reflected in the share price. Ridiculously cheap IMO - would love this to be taken over by another REIT or FM.
AOF Price at posting:
$1.03 Sentiment: Hold Disclosure: Held
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