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Dexus Announces $660 Million Valuation Uplift Across Portfolio

Dexus today announced that 96 of their 103 assets, comprising 44 office properties and 52 industrial properties have been externally valued as at 31 December 2017.

The external independent valuations have resulted in a total estimated $660 million or circa 5.3% increase on prior book values for the six months to 31 December 2017. As a result of these valuations, Dexus’s net tangible assets per security is expected to increase 65 cents.

Darren Steinberg, CEO of Dexus said: “The strength of the fundamentals in the Sydney and Melbourne office markets combined with solid transactional evidence across both the office and industrial asset classes has seen a strong uplift in values across our portfolio over the past six months. Pleasingly our property values in Brisbane have also benefited from leasing success and values in Perth have stabilised.”

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