Hot market drives Dexus property values, rental growth and upgraded guidance
Dexus is Australia's biggest office landlord and has just done a $500 million buyback with a $997 million profit, decreasing debt. Their strategy is to target prime office developments and under-rented buildings.
An increased guidance for distribution per security growth has increased to 4.5-5 per cent in the 2018 financial year with revaluation gains on investment properties reaching $730.2 million.
Majority of the rise in valuation was because of capitalisation rate tightening in Sydney and Melbourne, and the rest from an increase in market rent.
Image source: Pat Scala
Article source: http://www.afr.com/real-estate/hot-market-drives-dexus-property-values-rental-growth-and-upgraded-guidance-20180213-h0w12l
Ray White’s top 10 listings for February: (Click on address to view listing)
Terrace 40, 42 Young Street Sydney
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Part Level 3, 22 Market Street Sydney
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