Australia’s biggest pub landlord, ALE Property Group has made a strong case for its tenant, Woolworths-backed Endeavour Drinks to pay significantly higher rents from 2028 onwards, after valuers said its $1.23 billion portfolio was 33 per cent under-rented.

The disclosure came as ALE reported a 14.8 per cent rise in distributable interim profit to $17.9 million on higher rental income and lower borrowing costs and as it booked a $51.6 million valuation gain across its portfolio, where yields tightened 14 basis points to 4.94 per cent.