Aventus Group announced that the gross revaluation of its portfolio of large format retail centres as at 31 December 2019 has resulted in an increase of $38 million ($20 million net of capital expenditure).
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On a portfolio $1,935m, the net valuation gain of just $20m represents an increase of 1% over the 6 month period.
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The valuations undertaken included six independent valuations and thirteen which were completed internally and adopted as Directors' valuations.
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The weighted average capitalisation rate for the portfolio remains unchanged at 6.7%.
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"Importantly, the weighted average capitalisation rate for the portfolio has remained unchanged since June 2017 and, during the intervening two and a half year period approximately $240m of valuation gains have been driven by Aventus' intensive asset management resulting in strong income growth, controlling expenses and development initiatives", said Mr Holland.
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Details of the valuations will be released with the results in February 2020.
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