Aventus Valuations climb 1% with Stable Cap Rates
Aventus Group announced that the gross revaluation of its portfolio of large format retail centres as at 31 December 2019 has resulted in an increase of $38 million ($20 million net of capital expenditure).
On a portfolio $1,935m, the net valuation gain of just $20m represents an increase of 1% over the 6 month period.
The valuations undertaken included six independent valuations and thirteen which were completed internally and adopted as Directors’ valuations.
The weighted average capitalisation rate for the portfolio remains unchanged at 6.7%.
“Importantly, the weighted average capitalisation rate for the portfolio has remained unchanged since June 2017 and, during the intervening two and a half year period approximately $240m of valuation gains have been driven by Aventus’ intensive asset management resulting in strong income growth, controlling expenses and development initiatives”, said Mr Holland.
Details of the valuations will be released with the results in February 2020.