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Shopping Centres Australasia Property Group Advises on June 2019 Property Valuations

12 Jun 2019  |  15:33:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: June 2019 Property Valuations

Shopping Centres Australasia Property Group announced the results of its property valuations as at June 2019. The total value of investment properties decreased by $6.1m to $3,147.0m due to valuation NOI growth of 0.4% offset by cap rate softening of 5bps to 6.48% at June 2019 (6.43% at December 2018). The Company advised that fifteen of the properties were independently valued. The remaining 70 properties were internally valued. The independent valuations have declined due to a higher proportion of Sub-Regionals being independently valued, including a $4.8m decrease in the value of centre at Kwinana, WA due to its cap rate softening from 6.50% to 6.75%. The internal valuations included a $3.4m uplift on the properties acquired from Vicinity in October 2018.

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