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Company News Summary

GPT Group Announces Revaluation of Wholesale Fund Assets

07 Apr 2020  |  09:48:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Revaluation of Wholesale Fund assets

GPT Group announced that all properties in the GPT Wholesale Office Fund (GWOF) and the GPT Wholesale Shopping Centre Fund (GWSCF) have been independently revalued as at 31 March 2020 in accordance with their quarterly valuation process. A negative revaluation of $183m was recorded, representing a decline in book value of 2%. The reduction in office valuations reflects the independent valuers' assessment of the effects of COVID-19 and was largely driven by lower near-term rental growth assumptions. The Company's ownership interest in GWOF is 22.9%.

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