Also be aware of the huge amounts of capex spend they have for Parramatta and Brisbane.
I've been told circa $20m capex for Parramatta and another $20m of incentives for tenants.
And for Brisbane it's $10m capex and $10m incentives.
It is not cheap enough for sub par non-core office assets.
Ann: Half Year 2023 Results Presentation, page-9
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