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SCA Property Group Vals up 2.7%

SCA Property Group announced the results of its property valuations as at December 2019.

The total value of investment properties has increased by $85.8m, from $3,147.0m at June 2019 to $3,232.8m at December 2019.

In summary this movement is comprised of the following:

  • Valuation increase on like-for-like properties of $22.2m, including a valuation uplift of $17.8m on the properties acquired from Vicinity in October 2018;

  • Acquisitions of $83.2m comprising Warner Marketplace in QLD for $78.35m (5.75% cap rate) and Shell Cove – stage 3 (which will form part of our existing Shell Cove asset) for $4.8m; and

  • Disposals of $19.6m being Cowes, VIC (June 2019 book value of $19.6) which has been contracted for sale at $21.5m and expected to settle in early February 2020 (now classified as an “Asset Held for Sale”).