Image: Canva.
  • The ASX200 closed at 6,998.10 points, today, up 5.10 points
  • Centuria reported a profit increase of 50%
  • Axiom's sale of land to Living Choice is now unconditional

A reinstatement, results, and a sale, that’s what today’s ASX-listed real estate companies have been doing amidst the bigger news item for the day: another interest rate hike.

The broader market

The ASX200 closed at 6,998.10 points today, up 5.10 points. The top five performers overall included buy now pay later (BNPL) company Zip, along with A2 Milk, Ramelius, St Barbara, and Breville.

Image: Google.

Top-performing ASX listed real estate company shares: 2 August 2022

Company Code Price ($) Change (%)
US Student Housing REIT USQ 1.25 +2.88
Aspen Group APZ 1.575 +2.61
Domain DHG 3.535 +2.46
Newmark Property REIT NPR 1.63 +1.88
Fletcher Building FBU 4.64 +1.53

Source: ASX. *Data delayed.

The movement

The morning kicked off with Auckland Real Estate Trust’s (ASX: AKL) reinstatement to quotation. AKL was suspended from official quotation yesterday in accordance with Listing Rule 17.5, along with three other companies, when they failed to lodge the relevant periodic report by the due date.

Centuria Office REIT (ASX: COF) released its FY22 results, with the company announcing a 50% increase in profits. The company’s portfolio is now worth $2.3 billion across 23 assets, following the divestment of an Adelaide property and the acquisition of three others.

COF’s strong leasing activity supported healthy like-for-like valuation gains of $37.9 million. During the period, COF secured 48 leases across 41,283sqm, equating to 13.6% of its portfolio net lettable area (NLA). More than half of these leases related to new tenants (17,605 sqm), illustrating strong tenant demand for modern metropolitan office accommodation.

Among other metrics, occupancy was recorded at 94.7%, WALE 4.2 years, with an average building age of 16 years, an average NABERS energy rating of 4.8 stars, and average rent collection of 98%.

Read more here.

Finally for today, Axiom (ASX: AXI) announced its proposed sale of 10 hectares to Living Choice is now unconditional. The $5.5 million portion of land is in Axiom’s Glenlea Estate residential subdivision in Mount Barker, South Australia.

Living Choice is a privately owned national company that develops and owns retirement villages, lifestyle communities, and residential developments. Living Choice has now received development approval for the construction of a proposed over 55s lifestyle community which satisfied the last remaining condition of the Axiom sale.

Living Choice is scheduled to settle the sale in early September.

That’s the latest in ASX-listed real estate companies.

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