To be using that sort of cap rate (7%) in formal valuation for covenant testing would require the RBA to get to about 5.75%, which would mean hiking another 6 times. That asset is not representative of where the market is. The cap rates at 30 June 2023 used by listed office REITs are below - noting TOT is at 5.33% with longer WALE and around the same occupancy %
Also need to remember that TOTs rent review is 3% per annum which adds around $400k of income each year..
Ann: Independent Valuations and Leasing Update, page-49
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Last
41.5¢ |
Change
-0.005(1.19%) |
Mkt cap ! $89.06M | |||
| Open | High | Low | Value | Volume |
| 42.0¢ | 42.5¢ | 41.0¢ | $37.46K | 90.76K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 85000 | 41.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 43.5¢ | 85306 | 3 |
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| Last trade - 15.46pm 18/10/2024 (20 minute delay) ? |
| TOT (ASX) Chart |