Centuria Industrial REIT has announced valuation gains of 1.3% across its portfolio, adding $48m to the portfolio.
Centuria has completed external valuations on 41 investment properties, representing c.63% of its portfolio value as at 30 June 2022 with the remaining properties subject to internal or Director’s valuations.
These valuations increased CIP’s portfolio value by an estimated $48 million or 1.3% from 31 December 2021 book values, resulting in a total portfolio value of $4.1 billion.
Total portfolio Weighted Average Capitalisation Rate (WACR) remained at 4.19%.
Jesse Curtis, CIP Fund Manager and Centuria Head of Industrial, commented, “The Australian industrial real estate market remains underpinned by low vacancy and record tenant demand, which drives strong rental growth across all markets. With an active management team and high-quality industrial portfolio, CIP continues to be a beneficiary of these favourable market conditions with positive leasing activity and rental growth supporting portfolio valuations.”
Further property valuation details will be available in CIP’s FY22 results, which are expected to be released on Thursday, 4 August 2022.
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