Lemmsip - I was happy with it also.
Yes, 197 St Georges is a bit of a drag... valuation down to $200m, cap rate 7.25% despite some leasing successes in past 6 months.
I suspect now that WS and WS2 are close to fully leased - they can give additional focus to the 197 leasing. But to have the portfolio move from 1.25 NTA to 1.20 is much smaller than most of the office REITs that I watch.
The mining accom JV looks like it is delivering in the early stages. There was some criticisum leveled at this on HC - but I'm curious to see how it plays out. Given that office could be subdued for a few years, I support the diversification.
The back half of the preso shows a positive outlook for Perth, leasing enquiries, net absorbtion etc. I'm glad they concentrated on Perth submarket 5 years ago.
Lemmsip - I was happy with it also.Yes, 197 St Georges is a bit...
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56.5¢ |
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Mkt cap ! $303.0M | |||
| Open | High | Low | Value | Volume |
| 56.0¢ | 57.0¢ | 55.5¢ | $154.4K | 273.8K |
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| No. | Vol. | Price($) |
|---|---|---|
| 4 | 94918 | 56.5¢ |
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| Price($) | Vol. | No. |
|---|---|---|
| 57.0¢ | 36264 | 3 |
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