This article is from the Australian Property Journal archive
THE Elanor Commercial Property Fund (ASX:ECF) has provided strong distribution guidance for the second quarter, after a period of positive leasing results.
ECF has provided a Q2FY23 distribution forecast of 2.35 cents per security for the period from 1 October 2022 to 31 December 2022.
In addition to a FY23 FFO guidance forecast of 11.0 cents per security reaffirmed and a FY23 distribution guidance of 9.4 cents per security reaffirmed.
Over the quarter, ECF has leased more than 900sqm at its Limestone Centre asset in Ipswich to the Queensland government and allied health tenants.
Throughout the period, the fund also achieved ESG targets, including receiving a 5.5 NABERS rating for 50 Cavill Avenue and completing the installation of solar energy capability at Work Zone West and renewed WIRED accreditation at 19 Harris Street.
The fund’s key strategic objective going forward is to provide “strong risk-adjusted returns by investing in commercial offices properties that have clearly differentiated and sustainable competitive advantages.”
ECF also has strategic leasing and key asset management initiatives underway, including sustainability upgrades and strategic lease renewals.
Just last week the ASX-listed Elanor Investor Group purchased the Yarra Valley’s historic Chateau Yering for just over $30 million.
