Centuria Metropolitan REIT Limited (ASX:CMA) Trust Manager Nicholas Blake talks FY17 results, property metrics and strategy.
Centuria Metropolitan REIT (ASX:CMA) Trust Manager Nicholas Blake gives an update on Australia's largest ASX-listed metropolitan office REIT.
- Update on financials and growth, underpinned by high quality tenants and contracted rental growth
- 98.6% occupancy and weighted lease term of 4.3 years
- Overview of the portfolio which is geographically diverse across Australia - 34% of the market is in QLD, 22% in NSW, 16% in Vic, 12% in WA and 6% in SA
- Update on the market which has tightened over the past year particularly in Sydney and Melbourne, but demand will remain solid with population and employment expected to grow
- Office markets are expected to remain attractive with demand for metropolitan offices to boost
- Update on strategy and focus going forward, including maintaining disciplined capital structure with gearing below 35%
- Focus on portfolio leasing to ensure occupancy, WALE and income