This property trust just wiped 8pc off its office tower values
ASX-listed Centuria’s office building-only fund has cut the value of its assets by $176 million, or 8.4 per cent, yet remains hopeful the battered sector will get a much-needed boost as more organisations issue return-to-office mandates.
A major factor in the writedowns in Centuria’s 2024 financial year results is its expectation it will not be collecting any rental income from several floors in two problem buildings in Melbourne and Sydney.
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