Sharechat Logo

Goodman Property Trust (NZX: GMT) Signals $415 million Second Half Portfolio Revaluation

Wednesday 10th March 2021

Text too small?

Goodman (NZ) Limited, the Manager of Goodman Property Trust, advises that GMT’s financial result for the year ending 31 March 2021 is expected to contain a significant property revaluation gain.

Draft valuation reports from independent valuers indicate that GMT’s property portfolio will post a second half gain of approximately $415 million or around 12.5%. The positive outcome is in addition to the $140 million revaluation recorded in the first half, and as a result, the portfolio is expected to have a value of around $3.8 billion at 31 March 2021.

John Dakin, Chief Executive Officer said, “We continue to see strong demand for space, tight supply conditions, low vacancy and solid underlying rental growth across our portfolio. This, combined with relatively low interest rates, has fuelled investor demand, particularly for high-quality logistics and warehouse property. The market capitalisation rate across the portfolio has strengthened 50bps from 30 September 2020 to 4.7%.”

The increase in portfolio value over the last six months is expected to add around 30 cents per unit to GMT’s NTA , which was 182.4 cents per unit at 30 September 2020.

The revaluation remains subject to finalisation and independent audit. It is also contingent on there being no material change in market conditions before 31 March 2021, the effective date of the valuation reports.

Please see the link below for details:

GMT signals $415 million second half portfolio revaluation

Source: Goodman Property Trust



  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

NZME Limited (NZX: NZM) NZ Markets Disciplinary Tribunal Censures
Rua Bioscience Limited (NZX: RUA) Announces CCO with Global Pharma Experience
Cannasouth Limited (NZX: CBD) Supply Activity Added to Cannasouth Commercial Licence
Skellerup Holdings Limited (NZX: SKL) Upgrades FY21 Earnings Guidance
Napier Port Holdings Limited (NZX: NPH) 2021 Earnings Guidance Update
Comvita Limited (NZX: CVT) Full Year Guidance Update
Scott Technology Limited (NZX: SCT) Meat Industry Contract Win
PaySauce Limited (NZX: PYS) Quarterly Market Update
NZ Windfarms Limited (NZX: NWF) Agrees a New VVFPA for Q1 2022 to Q3 2022
Harmoney Corp Limited (NZX: HMY) 3Q21 Trading Update