Hi guys i'm looking for a yield play and had a quick look here so any thoughts would be welcome. From what i can see Perth is a big issue, its average expiry of leases in one of the buildings is 4.8 years, lease incentives which generally means rent free periods and one vacant building are the 3 issues that i see. I'm not from Perth but have read some offices rents are approaching half f what they were so unless a strategy is developed then more writedowns will come as tenants seek to re negotiate. I did read something about residential conversion. I believe their gearing is low and potential is there for a good spring in share price if Perth can get back on the track.
GDI Price at posting:
84.5¢ Sentiment: None Disclosure: Not Held
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