green arrow overlaid on centuria logo
Image – The Property Tribune, Canva.
  • Portfolio valuations increased by $285M or 11%
  • NTA also up, now $3.85
  • CIP shares reacted, jumping to $3.71, now trading at $3.60

Industrial property has been an incredibly sought after market, with some areas recording vacancy rates lower than the hottest residential markets; some industrial properties in Melbourne recently saw vacancy rates as low as 0.27%.

Centuria Industrial REIT (ASX: CIP) has been particularly active, acquiring two Victorian properties at the start of the year, a Bella Vista property in February, and two in April: Arndell Park and Dandenong South.

Back in March, CIP reported portfolio valuations had increased to $2.6 billion.

The latest

Centuria has announced the 61 property portfolio has increased by $286 million or 11%.

Now sitting at $2.9 billion, the total portfolio Weighted Average Capitalisation Rate (WACR) firmed 42bps to 4.53%.

Likewise, net tangible assets (NTA) has also increased, up by 16% to $3.85.

Key valuation movements

key valuation movements
Image – Centuria Industrial REIT.

In late March this year, the company said it would update the market regularly on valuations due to tailwinds in the sector, that sentiment is still shared today.

“Strong sector tailwinds continue to provide long-term benefits to industrial real estate with e-commerce and onshoring increasing demand for quality industrial accommodation. CIP is a beneficiary of the buoyant tenant market with a number of assets delivering valuation gains on the back of strategic leasing.”

Jesse Curtis, CIP Fund Manager

“The CIP portfolio remains in astrong position withoccupancy of 98.8%5, WALE of 9.7 years 6 and portfolio capitalisation rate of 4.53%.”

More information to come as the end of financial year nears.

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