ASX Announcements
Change of Director's Interest Notice - Russell Proutt
Change of Director’s Interest Notice
Notification regarding unquoted securities - GPT
Appendix 3G (Notification of Issue, Conversion or Payment up of Unquoted Equity Securities)
Notification of cessation of securities - GPT
Appendix 3H (Notification of cessation of securities)
Change in substantial holding
Change of Director's Interest Notice - Anne Brennan
Change of Director’s Interest Notice
This Month
Property giant GPT seizes on Lendlease’s retail retreat
A Lendlease-run shopping centre fund, once one of the biggest in the country, will now be in charge of running just two malls.
February
GPT’s new chief ramps up funds plan
Chief executive Russell Proutt is keen to convert more of GPT’s own property portfolio into funds under management. But it won’t be a “capital light” plan.
January
Citi upgrades shopping centre operator Scentre in recovering market
The investment bank has also flagged Goodman, National Storage, Ingenia, Stockland and GPT as stocks in for a better year.
September 2024
GPT Group’s six degrees of separation
The property fund manager has named former Charter Hall Matthew Brown as its new head of office, marking the third hire from its rival.
Office values drop 22pc in two years. When will they bottom?
That is a big fall in defensive, long-life assets. It’s part working from home, part interest rates. It can’t continue forever, but it hasn’t slowed yet.
Time to buy into REITs: Barrenjoey
Property stocks have weathered the interest rate storm, according to Barrenjoey, who say investors could be “well served” to increase their exposure.
August 2024
GPT flags bigger push into funds management
GPT has been an early adopter of the funds’ management model, running large, well-established unlisted office and malls funds.
Lendlease’s calm after the storm heads Monday’s results highlights
A few months is a long time for a CEO – just ask Lendlease, Suncorp or Ampol, businesses changing rapidly. Here is Chanticleer’s take on the day’s earnings calls.
May 2024
Property giant GPT slammed as too ‘woke’ for growth
GPT’s chair Vickki McFadden has defended the company’s efforts on environmental and social issues at its annual shareholder meeting.
February 2024
GPT trims 2024 payout as headwinds hit office towers
GPT has forecast a reduction in its shareholder distribution in 2024, partly as a result of paying higher incentives to woo tenants for its office portfolio.
January 2024
Mirvac office fund declines 14.5pc as headwinds hit wholesale sector
While office assets continue their drawn-out decline in value, dark clouds are also sitting heavy over the golden child of industrial property.
November 2023
Are listed landlords prepared for the valuation reckoning?
In the depths of the pandemic, Scentre turned to hybrid capital to protect its balance sheet. Now, some argue office landlords should follow the mall operator’s example.
October 2023
GPT to run $1b student digs portfolio as rents rise
GPT’s move into rental housing in the form of student digs comes amid increasing institutional interest in that sector.
September 2023
GPT lands new CEO, snagging Charter Hall’s chief financial officer
The drawn-out process to find a new CEO had cast some uncertainty over GPT which, like other listed real estate investment trusts, is battling headwinds in commercial property sector driven by higher interest rates.
August 2023
Stormwater problems hit logistics projects at Kemps Creek
Developers say a Sydney Water levy was ‘late coming to table’ and added almost $50 million to the development costs of a nine-warehouse project.
Sydney’s office crisis: no space for bankers, lawyers, fund managers
At a time when working from home is hollowing out the national office market, there isn’t enough space in Sydney to house high-income earners.
WeWork troubles put $900m in rent at risk in Australia
The New York-listed company says there is “substantial doubt” over its ability to keep operating, as it bleeds cash and memberships are cancelled.
Debt headwinds smash some REITs - but not others
Borrowing costs affect all investors, but particularly those in commercial property. And then there’s the issue of values.
What we learnt from Monday’s earnings
Our columnists James Thomson and Anthony Macdonald take a deep dive into key profit results: JB Hi-Fi, GPT Group, Bendigo & Adelaide Bank, Aurizon, and Lendlease.
GPT beats expectations despite turbulent office market
Chief executive Bob Johnston expects further falls in the values of office buildings, where demand for space has been weakened by the work-from-home trend.