Goodman Property Trust (GMT) has announced expectations of a 4.7% reduction in the fair value of its property assets in its FY23 annual result, bringing the estimated value of the portfolio to $4.8 billion.

The capitalisation rate of the portfolio is forecast to be 5.2%, higher than the 4.2% in March 2022.

Occupancy of over 99% and 19% annual market rental growth has helped to reduce the impact of the softening capitalisation rate.

The valuation movement is expected to reduce net tangible assets by around 17 cents per unit.

The final results will be released on 18 May 2023.

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