Positive news for sure here although reading through the announcement it seems we won't start collecting rent from the government until August 2025.
I wonder why they don't look at leasing that remaining floor at Cremorne to a co working operator? It seems like Cremorne would be a decent area for it.
It's now been sitting around fully fitted out for over a year (off memory I think we spent 1.6 million on that?) and seems a real shame for it to be going to waste.
I read through the TGP AGM presentation this evening and found this comment to be pretty extraordinary for the wrong reasons:
"The Group and its managed funds have no legacy issues, unlike a lot of other REITs and managers who continue to be inward looking to fix their own issues. With no legacy issues, management is focused on uncovering opportunities to grow the Group from its current position"
I think a more inward looking attitude would have served us well over the past few years and the timing of the direct property acquisition has been my definition of a legacy issue.
TOT Price at posting:
43.5¢ Sentiment: Hold Disclosure: Held
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(20min delay)