This article is from the Australian Property Journal archive
ASX-listed BlackWall Property Trust has recorded a 26% return for the 2016 financial year.
Earnings were at 19 cents per unit, gross assets were up 16% to $139 million, and net tangible assets were $73 million, at $1.27 per unit. It had $15 million of carried-forward revenue losses and around $17 million of capital losses. The income portfolio WALE was at just under five years, with a weighted average passing yield of 9%.
BlackWall’s head of property, Jess Glew, said the trust holds two small industrial properties that are legacy assets acquired under previous management, which have been listed for sale and will add $10 million to the balance sheet if price expectations are realised.
The trust’s growth portfolio includes WOTSO house in the ACT, which was acquired last month for $25 million and had 4,000sqm of its 8,700sqm leased by BlackWall subsidiary, the burgeoning co-working space operator WOTSO Workspace.
The trust’s final distribution was of 4 cents per unit.
Australian Property Journal
