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
I personally think punters are worried about the level of...
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Last
67.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $362.7M | |||
| Open | High | Low | Value | Volume |
| 67.0¢ | 68.0¢ | 67.0¢ | $301.0K | 446.3K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 35999 | 67.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 68.0¢ | 28035 | 3 |
View Market Depth
| Last trade - 16.10pm 02/10/2024 (20 minute delay) ? |
| GDI (ASX) Chart |