AUGUSTA CAPITAL LIMITED 14 April 2016
Augusta Capital is pleased to announce that based on final externally prepared valuation reports it will be recording a revaluation gain of $3.74 million as at 31 March 2016, for the 6 months from September 2015, across its directly owned portfolio. This revaluation represents an overall annual gain of $7.52 million. The independent valuations were prepared by CBRE.
This 6 month movement in valuations represents a revaluation gain of 4.4% or 4.3 cents per share and this gain is a result of sharpening market rental yields. The average market rental yields have firmed from 7.34% to 7.06% across the portfolio.
The valuations have also been prepared on the basis of a new retail title at the Finance Centre where all retail tenancies are being subdivided onto a separate title. Portfolio occupancy has increased from 94% to 97% over the past 12 months and the portfolio WALE has also increased from 5.9 years to 6.3 years.
The new title has not yet been issued in respect to the retail title but this is expected to be issued in the coming months.
Augusta Capital Limited's preliminary result for the year ended 31 March 2016 is expected to be announced on Thursday 19th May 2016.
-ENDS-
For further information please contact:
Mark Francis Simon Woollams
Managing Director Chief Financial Officer
Augusta Capital Limited | Level 2, 4 Viaduct Harbour Drive | Auckland | New Zealand PO Box 37953 Parnell | P:+649 300 6161 | F:+649 300 6162 | www.augusta.co.nz
Augusta Capital Limited issued this content on 14 April 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 15 April 2016 00:10:55 UTC
Original Document: http://www.augusta.co.nz/?ddownload=1334
