Valuation Gains Across Abacus Portfolio

9 July 2021

Abacus Property Group has recorded a 4.5% gain in value across its portfolio, adding $140m of value.

The Group independently revalued 40 of its investment properties, or 34% of the Group’s portfolio by number for their year end results as at 30 June 2021.

The preliminary draft valuations (including both external and internal) have resulted in a total estimated increase of $140 million, being a 4.5% increase. The unaudited valuations are expected to increase the Group’s pro forma net tangible assets (NTA) by circa $0.17 per security to $3.43, an increase of 5.2% on the 31 December 2020 NTA.

The majority of the uplift was from a 34 basis point firming in cap rates for the Self Storage portfolio which now accounts for almost 50% of the portfolio.

The commercial portfolio improved marginally, up by 0.7%.

The results include;

The valuations are subject to finalisation and audit and could be revised up or down. The final audited valuations will be available as part of Abacus’ FY21 results, which will be released on Wednesday, 18 August 2021.