Centuria pleased with Canberra leasing progress

Company News

by Carolyn Herbert

Centuria Property Funds Limited (ASX:CMA) has provided an update to shareholders on the leasing of Centuria Metropolitan REIT’s assets located in Canberra.
The company says Centuria Metropolitan acquired 54 and 60 Marcus Clarke Street Canberra in June this year, with a combined occupancy of 76 per cent and weighted average lease expiry of 2.2 years.
Since taking ownership, the company has progressed with 988 square metres of leasing transactions and 907 square metres of renewal transactions. 
Trust Manager Nicholas Blake says following the execution of the outstanding leases, the combined occupancy and WALE of the properties will increase to 84 per cent and 2.6 years respectively.
Centuria Property Funds reported a net profit of $8.93 million at 30 June 2015. 

Carolyn Herbert

Finance News Network
Carolyn joined FNN in August 2015 as the Head of News and also presented the Market at Midday and the Market Wrap. With more than five years of broadcast journalism experience, Carolyn has worked as a finance anchor on the Sky News Business channel and as an anchor and reporter for ABC News. She is also a qualified corporate lawyer specialising in IPOs, takeovers and mergers and acquisitions.