'Positive' rent reviews to boost future ALE payout
ALE Property Group, the country's biggest-listed owner of freehold pubs, expects a "positive result" from upcoming market rent reviews, after distributable profit for the 2018 financial year flatlined at $29 million.
Rents on 80 of its $1.1 billion portfolio of 86 pubs, all leased to Woolworths-backed operator ALH, could rise by as much as 10 per cent in FY19 under capped market rent reviews - delivering a boost to future payouts - having been indexed to inflation for the past 14 years.
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