Image: Canva.
  • Market closed at 7,390.20 points today.
  • Market is up 60.9 points for the week, so far.
  • CHC have appointed Stephen Conry AM as an independent non-executive director.

The week has been quiet, with a leasing update, a portfolio update, and two leadership appointments made.

The broader market

The ASX200 closed today at 7,390.20 points, up 3.90 points or 0.05%. The market is up 60.8 points or 0.8% for the week so far.

Image: Google.

The movement

Monday this week saw the appointment of Stephen Conry AM as an independent non-executive director of the Charter Hall Group (ASX: CHC). The appointment took effect as of Monday.

Until 2022, Conroy was the CEO of Jones Lang LaSalle Australia for 13 years, also holding numerous roles with business and community boards, including the Property Council of Australia.

CHC Chair, David Clarke, said he was delighted to welcome Mr Conry to the Board:

“Stephen has a made a very significant contribution to the property industry over many decades both as an executive and through his involvement with the Property Council. He brings a deep understanding of all aspects of the sector and the needs of our investor and tenant customers. On behalf of my fellow Directors, I am very pleased to welcome Stephen to the Board and look forward to his contribution as we continue to seek to grow and create sustainable returns for our security holders and capital partners.”

DomaCom’s report

Monday also saw DomaCom’s (ASX: DCL) quarterly activity report released, among the company’s highlights:

  • Funds under management (FUM) of $182 million as at 31 December 2022,
  • Customer accounts of 2,180, up almost 50 per cent year on year,
  • Relisting on the ASX on 23 December 2022, and
  • Cash at hand at the end of the December 2022 quarter totalled $1.936 million.

GDI Property leasing

Tuesday saw leasing announcements made for GDI Property Group’s (ASX: GDI) WS2 office building.

The company announced a second tenant had signed heads of agreement for GDI’s new WS2 development on top of the existing car park at Westralia Square; the heads of agreement was for approximately 2,600 square metres across three floors.

Including other heads of agreement announced in early January, the second tenant commitment means five of the 11 floors at WS2 are now subject to heads of agreement.

GDI has also executed another full floor Heads of Agreement at 197 St Georges Terrace, Perth.

Mr Steve Gillard, Managing Director at GDI, stated that he was very pleased with the continued leasing momentum. “We had a strong end to 2022 and it is very heartening that this momentum has continued into 2023. WS2 is a unique product in the market and it is reassuring that there remains strong interest in the remaining floors from potential tenants. We are also in active negotiations with potential tenants for further space at 197 St Georges Terrace, and also 1 Adelaide Terrace (GDI No. 36 Perth CBD Office Trust) and are hopeful that more leasing transactions can be progressed in the coming weeks”, Mr Gillard stated.

More news

James Hardie (ASX: JHX) announced the appointment of Tim Beastrom as chief legal counsel, and Joel Wasserman as vice president, corporate communications and global brand management, effective immediately.

Among other news for Tuesday, Openn Negotiation (ASX: OPN) entered a trading halt pending the release of an announcement, and Centuria Capital Group (ASX: CNI), Centuria Industrial REIT (ASX: CIP), and Centuria Office REIT (ASX: COF) announced HY23 results date and webcast details. CNI results are expected to be released on Tuesday 7 February 2023, CIP results on 31 January, and COF results 2 February 2023.

Today, the US Student Housing REIT (ASX: USQ) released an update, the company’s portfolio was valued by CBRE, the resulting gross asset valuation (GAV) of the total portfolio of nine properties has increased to US$147.7 million (~A$217 million), up from US$144.6 million. (for the six month period to 31 December 2022).

The company’s portfolio occupancy rate is strong at 96.6 per cent, with pre-leasing for the 2023-2024 academic year sitting at 55.7 per cent, which is almost 11 per cent ahead of where it was at this point last year.

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

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