Stride's valuers cut $66.5m from early assessment as crisis intensified

Tue, 23 Jun 2020

Stride Property Group said its valuers cut $66.5 million off their initial draft valuations provided in early March as the magnitude of the coronavirus crisis became more apparent, turning valuation gains into losses. In the event, the valuers cut $1.8 million off the property portfolio's value to $996.1 million. That was the major reason its bottom line net profit fell 66.8 percent to $25.3 million for the year ended March from the previous year, which had included a valuation gain of $36.5 million. Provided the coronavirus crisis doe...

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