Whatever mentioned in the above report has materialised today, ie 25 Grenfell Street, Adelaide is being sold. The other two properties in Sydney and Brisbane have been put up too !
As written earlier :-
As the asset management strategies of a number of assets, including 66 Goulburn Street, Sydney, 307
Queen Street, Brisbane and 25 Grenfell Street, Adelaide, are nearing completion, it is probable that GDI
Property Group will dispose of at least one if not more assets during FY17. In the absence of acquisition
opportunities, GDI Property Group would look at capital management initiatives, including debt
repayment, a return or reduction of capital, or a security buy-back.
Some notable news are :-
Given the probability, timing and price received for any asset sale is at this stage unknown, GDI Property
Group is unable to provide FFO guidance for FY17. However:
• as a result of a probable asset sale(s), FFO per security (excluding the profit from asset sales) is likely
to be lower than FY16; and
• it is forecast that distributions, including from profits on sale of properties, will be at least 7.75 cents
per security, not including any capital returns or reductions.
FY17 dps will be MORE THAN 7.75 cps because there will be capital returns from the sale of the above 3 properties. This is normally how it goes.
(20min delay)