Investa announces FY16 valuation uplifts

Company News

by David Chau

Investa Office Fund (ASX:IOF) says external valuations have been completed for 10 out of 22 assets in its portfolio – for the six months ended 30 June 2016.

Investa says these external valuations (which reflect more than half of the portfolio by value) show a $116 million increase (or 6.6% increase) in book values.

The Fund says these improvements were driven by solid leasing deals outcomes in Brisbane, and improvements in the market fundamentals of Sydney.

The Fund also says, over the 12 month period to 30 June 2016, the portfolio value will have increased by around $313 million.

Investa will provide further details on the external valuations as part of its results presentation on 18 August.

Investa reported a net profit of $280.8 million at 31 December 2015.

David Chau

Finance News Network
David joined FNN in April 2016. In addition to presenting the Market Outlook and latest business news stories, David interviews senior economists and CEOs of ASX-listed companies. Prior to working for FNN, David was a litigation lawyer.