Centuria Office REIT has flagged asset sales to bolster its balance sheet as debt costs rise and write-downs stripped 4.2 per cent off the value from its portfolio of mostly suburban office blocks.

The ASX-listed office trust said the $98 million write-down and rising interest rates culminated in a statutory net loss of $91 million during the 2023 financial year. The swing to a net loss is in stark contrast to the $115 million statutory net profit recorded in the year prior.