Investa Office Fund FY17 AGM
Investa Office Fund held its AGM last week claiming that IOF had an outstanding year to 30 June 2017, underpinned by significant and accretive leasing, continued positive valuation uplifts and favourable office market conditions. IOF delivered an 18% Return on Equity and a 15.7% Unlevered Portfolio Total Return.
Funds From Operations grew by 4.0% with higher occupancy in the Brisbane portfolio and improving effective rents in Sydney, partially offset by the divestment of two assets and the withdrawal of 151 Clarence Street for redevelopment.
Net Tangible Assets subsequently increased by over 13% to $4.79 per unit.