Aust Unity Office Fund Lifts Valuations

Australian Unity Investment Real Estate Limited as Responsible Entity for Australian Unity Office Fund (AOF) today announced that the following four properties owned by AOF have been externally valued as at 31 December 2017:

  • 10 Valentine Avenue, Parramatta

  • 468 St Kilda Road, Melbourne

  • 2 Eden Park Drive, North Ryde

  • 64 Northbourne Avenue, Canberra

Combined these valuations have resulted in an estimated increase of $20.5 million or 10.5% over the preceding book value for those properties externally valued. This equates to an increase in AOF's net tangible assets of approximately 13 cents per unit. The weighted average capitalisation rate across the portfolio tightened from 7.5% as at 30 June 2017 to 7.0% as at 31 December 2017 (which includes the acquisition of 150 Charlotte Street, Brisbane).

Strong investment demand, particularly in Sydney and Melbourne and their associated metropolitan markets, has led to a compression in capitalisation rates from prior valuations. This has been complemented by some increases in market rents due to solid leasing conditions in most markets.

AOF's Fund Manager, Grant Nichols, said 'There continues to be very strong demand for well located Australian CBD and metropolitan office assets. We expect this strong investment demand to continue and AOF's portfolio is well positioned to further capitalise on these market conditions'.

Further details relating to individual property valuations will be announced in AOF's half year 2018 results on Tuesday, 6 February 2018.


Recent Posts

See All

Oxford outbid Blackstone for IOF

Oxford completed their due diligence on Investa this week and confirmed their binding bid for 100% of the Units at $5.60. Blackstone relinquished their right to match the offer enabling the Board of I

Capital Management Australia

PO Box R1254

SYDNEY   NSW   1225

Tel: +61 412 173 476


ABN: 32 610 910 819

AFSL: 493605

  • LinkedIn Social Icon
  • Wix Facebook page
  • Wix Twitter page
  • Wix Google+ page

Capital Management Australia

© 2016 by Trademark.

Our Expertise, Our Privilege
Your Capital, Your Choice