I personally think punters are worried about the level of gearing. They are claiming 35% LVR on their principal facility using what appears to be inflated Book Vals. Just looking at 197 St Georges and the Mill st assets, their book val appears about 15% - 20% overs to where market would actually be. Who in their right mind would pay a combined cap rate of 7.1% for that old asset today with 40% incentives being offered on the same income they are capping out.
Wouldn't surprise me if they tap the market for $30m-$35m shortly to take the pressure of their lending ratios
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Last
67.0¢ |
Change
-0.005(0.74%) |
Mkt cap ! $360.0M | |||
| Open | High | Low | Value | Volume |
| 67.5¢ | 68.0¢ | 67.0¢ | $287.6K | 426.0K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 79439 | 67.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 67.5¢ | 34904 | 2 |
View Market Depth
| Last trade - 16.10pm 25/07/2025 (20 minute delay) ? |
| GDI (ASX) Chart |