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Home Consortium to spin off 'substantial' health and wellness REIT

Larry Schlesinger
Larry SchlesingerReporter
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Key Points

  • Revenue ($m) 33.7, up 62.8%
  • Pre-tax profit ($m) -15.2, down 44.8%
  • Net profit ($m) -12.4, down 188.4%
  • Interim dividend (c) 4.5

Convenience retail centre landlord Home Consortium unveiled plans to hive off a portion of its $1 billion portfolio into a separate health and wellness real estate investment trust, after reporting strong inaugural interim results.

HomeCo chief executive officer David Di Pilla told The Australian Financial Review the group, backed by a bevvy of Rich Listers, was exploring both options of a listed and unlisted health and wellness REIT it would manage.

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Larry Schlesinger writes on real estate, specialising in commercial and residential property. Larry is based in our Melbourne newsroom. Connect with Larry on Twitter. Email Larry at larry.schlesinger@afr.com
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    Original URL: https://www.afr.com/property/commercial/home-consortium-to-spin-off-substantial-health-and-wellness-reit-20200226-p544ey