I am no commercial property expert but given coronavirus, it strikes me as highly likely that APE is purchasing these properties at close to the bottom of the property cycle.
So long term (assuming Australians continue to want to buy new cars through dealerships) it is accretive to the APE balance sheet. Landholdings value in a few years may increase a lot compared to the depression we're seeing thanks to poor handling of COVID-19 by governments, especially in Victoria and Queensland.
Ann: Property Strategy, $105M acquisition and $225M in funding, page-2
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Last
$10.62 |
Change
0.000(0.00%) |
Mkt cap ! $2.753B | |||
| Open | High | Low | Value | Volume |
| $10.76 | $10.79 | $10.62 | $1.851M | 172.9K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 5 | 250 | $10.62 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $10.63 | 1557 | 14 |
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| Last trade - 11.27am 01/08/2024 (20 minute delay) ? |
| APE (ASX) Chart |