The market is forward looking and leasing could be an issue.
The building in Canberra has a rental guarantee until June (8.2% of fund income).
According to the last rental update in July the fund was confident to rent it out to government agencies.
But at what yield?
Can they rent it out for more than the current rental guarantee? I doubt it and that would reduce the building value even further.
I would expect an update on the matter next month with the release of HY results.
Ann: Dividend/Distribution - TOT, page-22
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