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Centuria Industrial REIT - Q3 FY21 Fund Update

Centuria Industrial REIT (ASX: CIP) is pleased to provide its Q3 FY21 update.

Jesse Curtis, CIP Fund Manager, said “The third quarter continued to build on CIP’s strong performance throughout FY21. Revaluations provided a substantial uplift across CIP’s portfolio, underpinned by strong sector tailwinds particularly resulting from increased e-commerce and a scarcity of investment grade industrial stock. While a significant weight of capital continues to pursue industrial assets, CIP has demonstrated its ability to repeatedly source high-quality industrial assets that represent relative value to prevailing market pricing.

“CIP has acted on the robust tenant occupier market, leasing more than 56,000sqm, increasing portfolio occupancy to 98.8%. Infill markets continue to generate the highest level of tenant demand as illustrated by 14-17 Dansu Court where we secured a new tenant taking advantage of the early surrender of the previous occupier’s lease.

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