Office and industrial landlord Growthpoint Properties Australia is ready to go shopping, with lower gearing and a war chest of undrawn debt, after booking record valuation growth across its $4.5 billion portfolio.

The value of the portfolio increased by 10.2 per cent over fiscal 2021, the largest 12-month like-for-like increase yet for the property trust, which is led by Tim Collyer. Driving much of that growth a substantial re-rating of the industrial sector – itself the result of the e-commerce boom – along with strong leasing across the portfolio.