Centuria Office REIT, an ASX-listed landlord with $1.9 billion portfolio, is confident it has passed the low point in the battered office sector, reporting growth in its interim earnings and the value of its buildings, despite facing a market with rising vacancy rates and, as of this week, higher interest rates.
As one of the first real estate investment trusts (REITs) to report for this earnings season, the Centuria-run fund’s financials will be closely attended, particularly as the office market has been the hardest hit across commercial real estate as high rates and soft demand took a toll.
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Nick Lenaghan edits the property section, which covers all aspects, from residential real estate and housing and construction to commercial property – office, retail, industrial – and major ASX-listed developers and real estate investment trusts. Connect with Nick on Twitter. Email Nick at nlenaghan@afr.com
