Home Consortium announced its preliminary unaudited portfolio valuation increase of 5.2% and property update on 23 June 2020.
– June 2020 preliminary unaudited portfolio valuations increasing by 5.2%;
– Acquisition of HomeCo Parafield (formerly a leasehold) generating year 1 ungeared cash yield of 7.5%; and
– Development pipeline update including construction recommencement of HomeCo Richlands (opening March 2021) and investment committee approval for 3 new projects at Ellenbrook, Bathurst and Wagga Wagga.
HomeCo Executive Chairman & CEO David Di Pilla commented, “The preliminary valuation result is positive and reflects the quality and resilience of HomeCo’s hyper-convenience model and the increasing exposure to daily needs and services tenants. Foot traffic trends at the centres have continued to be positive with an increase of 9% and 17% for the months of May and June 2020.”
Click here to read the full announcement: https://bit.ly/2zTZVdc