Image: Canva.
  • Market closed 7,259.50 points today
  • The market is up 104.5 points for the week, or 1.5%
  • Some sales were made this week, along with AGMs held

It’s beginning to look a lot like Christmas, sang either Bing Crosby or Michael Buble – whichever you prefer.

This week saw the AGM season continue, with a couple of Black Friday sales punctuating the week.

The Monday ASX wrap can be found here.

The broader market

The ASX200 closed today at 7,259.50 points, up 17.70 points or 0.24%. The market is up 104.5 points for the week, or 1.5%

Image: Google.

The movement

On Tuesday, Dexus Industria REIT (ASX: DXI) held its AGM, with all six motions carried. Also holding AGMS: Brickworks (ASX: BKW), with all five motions carried; and McGrath (ASX: MEA), with all six motions, carried;

An announcement regarding Victory Offices (ASX: VOL) was made. Messrs Shane Cremin and Andrew Barnden were appointed Joint and Several Liquidators of the Company by order of the Supreme Court of Victoria on 21 November 2022. The securities of the Company (ASX: VOL) have been suspended from quotation under Listing Rule 17.2 following the Company entering into Voluntary Administration on 9 November 2022.

On Wednesday, HMC Capital, previously known as HomeCo or Home Consortium, (ASX: HMC) announced the appointment of Susan Roberts to the HMC Capital board. The company also announced the launch of an offer of new options in HMC Capital Shares. Finally, HMC Capital’s AGM saw all 11 motions carried.

Openn Negotiation (ASX: OPN) announced the signing of its first North American subscription agreement. Openn said it entered into a subscription based software as a service (SaaS) agreement with Boston-based real estate group RE/MAX Revolution.

Other AGMs for Wednesday included SCA Property Group (ASX: SCP) with all motions carried, similarly Silk Logistics (ASX: SLH), Abacus Property Group (ASX: ABP), and Openn Negotiation (ASX: OPN) saw all motions taken to their respective meetings carried.

Finally for Wednesday, Newmark Property REIT (ASX: NPR) announced that it has been advised by Bunnings that the dispute between the builder and a supplier has been resolved and based on the revised program, Bunnings expects that the development will likely be completed in mid-CY2023.

Yesterday, GPT Group (ASX: GPT) announced the sale of Rosehill Business Park in Camelia, NSW and Citiport Business Park in Port Melbourne, Victoria for $256.2 million. GPT said the sale price represents a 1.5% discount to book valuation at 30 June 2022, and a 9% premium to book valuation at 31 December 2021.

Eureka Group (ASX: EGH) announced the completion of the acquisition of 100% freehold interests in two seniors’ rental villages located in Tamworth, NSW and Horsham, Victoria for a total purchase price of $11.8 million, excluding costs.

AGMs held on Thursday included PropTech Group (ASX: PTG) with all motions carried, and Arena REIT (ASX: ARF), also with all motions carried.

Today, SCA Property Group (ASX: SCP) confirmed the change of name as announced at its AGM on Wednesday. The company will change its name to Region RE Limited as Responsible Entity of Region Retail Trust and Region Management Trust, and the ASX ticker will change to RGN.

Adbri (ASX: ABC) announced that it has executed binding agreements for the sale of its land at Moorebank, NSW, and in Kewdale, Western Australia.

Under the agreements, Adbri will receive cash proceeds of $57 million from the Moorebank sale and $5.7 million from the Kewdale sale.

Australian Unity Office Fund (ASX: AOF) announced that a conditional contract has been exchanged to sell 30 Pirie Street, Adelaide for $73 million.

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

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