Thanks tbecker. And i stand corrected on the NTA - gearing in...

Thanks tbecker. And i stand corrected on the NTA - gearing in itself should not affect the NTA (asset and corresponding liability on the balance sheet). I meant to say LWR's yield would increase with gearing so that should help the price on listing as we put in on similar footing as its sector peers.

On the cap rates that you indicated LWR should use to be comparable/conservative, do you know if other REITs use them e.g 8.5% in Perth, 7.5% in Adelaide, etc