This article is from the Australian Property Journal archive
ARENA REIT has recorded a $20.7 million increase in the value of its childcare and healthcare properties as at 30 June 2016.
A total of 30 childcare assets (representing 18% of total assets) were independently valued as at 30 June 2016, with the remaining 164 childcare assets and seven medical centre assets valued by directors.
Managing director Bryce Mitchelson said the revaluation uplift reflects the annual rental growth inherent as well as a 30 basis point tightening in the portfolio’s weighted average passing yield to 7.3% as at 30 June 2016, down from 7.6% at 31 December 2015.
For the financial year ended 30 June 2016, revaluations have contributed a total of $50.7 million to the value of investment properties, and the weighted average passing yield on the portfolio has firmed 70 basis points from 8.0% at 30 June 2015.
Australian Property Journal
