Investore Property Limited expects a gross reduction in fair value of its portfolio for the six months ended September 30, 2023, of $70 million, representing a 6.6% decrease.
This would result in an expected total portfolio value of $1.0 billion based on draft independent valuations.
The reduction in value is attributed to elevated inflation levels and higher interest rates impacting investment conditions and investor activity levels.
Despite the decrease in valuation, the company's portfolio metrics remain resilient, with a high occupancy rate of 99% and a weighted average lease term of 8 years.
Investore plans to explore the disposal of non-core investment properties as part of its capital management strategy.
The final valuation and other financial details will be confirmed in Investore's interim consolidated financial statements, expected to be released on November 16, 2023.
See more
