AUG
24/04/2015 09:22
GENERAL
PRICE SENSITIVE
REL: 0922 HRS Augusta Capital Limited
GENERAL: AUG: Augusta Revaluation Impact - March 2015
Augusta Capital is pleased to announce that based on final externally
prepared valuation reports it will be recording a revaluation gain of $4.37
million as at 31 March 2015 across its directly owned portfolio. This
represents a revaluation gain of 4.5% or 5cps. This gain is a result of
significant office leasing completed over the past 12 months at increased
rental levels as well as materially increased market retail rents at the
Finance Centre. Average cap rates have also firmed from 8.31% to 8.03% across
the portfolio.
The valuations have also been prepared on the basis of a new retail title at
the Finance Centre where all retail tenancies are being subdivided onto a
separate title. The Finance Centre Carpark is now also being valued
separately from the Finance Centre Podium. Portfolio occupancy has increased
from 84% to 94% over the past 12 months and the portfolio WALE has also
increased from 4.8 years to 5.9 years.
-ENDS-
For further information please contact:
Mark Francis
Managing Director
Augusta Capital Limited
T (09) 300 6161
F (09) 300 6162
E [email protected]
End CA:00263531 For:AUG Type:GENERAL Time:2015-04-24 09:22:39
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