Ann: 2023 Annual Results Presentation, page-34

Yes i am a bit surprised that Atlassian Central is still going ahead. I would love to know a bit more about it. Does Dexus still own 65% of the project or did it sell off some. What protection is there from rising construction cost ? What happens if Atlassian runs into some trouble and can't pay for their third. I notice its 100% preleased. So Atlassian is the anchor tenant but who are the other tenants. It is a very interesting development having a premium building right at central station. The state government also involved in creating the "Tech Central" precinct. Has the change of government affected that involvement at all ? And how is the 4-5% cap rate justified given the risks. Its an interesting project but i would like to know more.
Having said that i bought some Dexus at $6.70 and will buy some more at $6 if it gets down there. I think there will continue to be demand for well located Premium and A grade office and i am happy to own a little bit long term at 7 or 8% return. I think lower quality office which Dexus does not own is probably in some trouble. Dexus also has some industrial which is a sector that has been in high demand last few years. It also has a growing funds management business.