Waypoint REIT (WPR) has undertaken its half-year investment portfolio valuation process, with independent valuations carried out on 78 properties and directors’ valuations on 324 properties.
The valuation process has resulted in an expansion in the weighted average capitalisation rate (WACR) on WPR’s portfolio of 12 basis points from 5.28% to 5.40% and a net reduction in portfolio value of $27.1 million (or approximately 1%). The WACR increase was 11 basis points on independent valuations and 13 basis points on directors’ valuations. Both independent and directors’ valuations remain subject to review by WPR’s auditors.
WPR’s portfolio as at 30 June 2023 comprises 402 properties with a combined valuation of $2,920.7 million.
The pro forma impact of the valuations on WPR’s 31 December 2022 NTA per security is a net reduction of approximately 4 cents (1.3%).
NTA per security as at 30 June 2023 will be impacted by other balance sheet movements such as the valuation of derivatives and remains subject to review by WPR’s auditors.
Further details on the valuation of the investment portfolio and NTA per security as at 30 June 2023 will be released to the market with WPR’s half year 2023 financial results on Monday, 28 August 2023.