Using the Dexus sale as the only transactional evidence for Office is fairly 'one-eyed'.
Sydney CBD is an underperforming market, with the highest rents nationally. And the 2 year WALE is a problem (probably why Dexus has selected this as 'non-core').
Could point to the AOF sales over FY23 (all in line with book values, and in Feb-23 at a premium to book). Or recent sales by COF weren't a disaster Chuck's analysis (and comaprison to other listed peers) is more broad based.
I would also add that I think Quintessential purchased this one? They are very shrewd investors - great track record. If they are buying it was truly undervalued.
Ann: Independent Valuations and Leasing Update, page-61
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Last
39.0¢ |
Change
0.010(2.63%) |
Mkt cap ! $83.69M | |||
| Open | High | Low | Value | Volume |
| 38.5¢ | 39.0¢ | 38.5¢ | $16.84K | 43.74K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 54606 | 38.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 39.0¢ | 77438 | 4 |
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| Last trade - 13.43pm 09/08/2024 (20 minute delay) ? |
| TOT (ASX) Chart |