GPT GROUP — Regulatory Filings 2018

Dec 18, 2018

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19 December 2018

Portfolio Valuation Update

The GPT Group (“GPT”) today announced that 62 properties owned and managed by the Group have been independently revalued at 31 December 2018.

The revaluations have resulted in an increase of approximately $447.5 million*, which equates to 25 cents per security. The increase represents growth of approximately 4.7 per cent on 30 June 2018 Net Tangible Assets (NTA).

SectorNumber ofAssetsRevalued1	Valuation ChangeWeighted Average Cap Rate
	Value(million)%NewChange
Office27Retail7Logistics28	$221.0+3.9%4.95%-7 bps$99.5+1.5%4.87%-10 bps$127.0+7.3%5.77%-40 bps

1. Assets independently valued during the period; includes assets held within GWOF and GWSCF.

• The preliminary revaluations are subject to audit review and Director’s sign off.

Major contributors to the increase include:

• GPT’s Sydney office assets recorded solid increases during the half, with 2 Park Street increasing by 8.6 per cent, and MLC Centre and Australia Square increasing by 5.2 per cent and 4.8 per cent respectively;

• Melbourne Central retail where the valuation increased by 6.8 per cent with the centre continuing to achieve strong sales growth following the introduction of a number of new retailers during the year;

• The entire Logistics portfolio was revalued during the period, with the portfolio delivering a Total Portfolio Return of approximately 15.7 per cent in 2018 with the cap rate firming 40 basis points.

GPT’s Chief Executive Officer Bob Johnston said: “We have continued to see strong growth achieved by the office and logistics portfolio during the period, with the office portfolio continuing to benefit from its high exposure to the strongly performing Sydney and Melbourne markets.”

“The valuation increases represent growth of approximately 4.7 per cent on the Group’s 30 June 2018 Net Tangible Assets (NTA) of $5.31 per security,” Mr Johnston said.

2018 Annual Result

GPT will release its 2018 Annual Result on Monday, 11 February 2019.

Webcast and teleconference details can be found here: GPT 2018 Annual Result

-ENDS-

For more information, please contact:

For more information, please contact:
INVESTORS	MEDIA
Brett Ward	Grant Taylor
Head of Investor Relations & Corporate Affairs	+61 447 579 949
+61 437 994 451

www.gpt.com.au