manchester-united-stadium-feature
This week, two big announcements were made: English Premier League teams will be headed down under, and major acquisitions were made by ASX listed real estate companies. Image: Canva.
  • Dexus to acquire Collimate Capitals' real estate and domestic infrastructure business
  • $1.4 billion in residential sales made by The Agency
  • Waypoint sold 29 assets to Fawkner Property

Yes, the headline is a cheeky attempt at merging news this week that Manchester United, Aston Villa, Crystal Palace and Leeds United will be coming Down Under in July this year, with the fact third-quarter reports continue to roll in.

This week, three acquisitions were announced: Dexus top acquire Collimate Capital’s real estate and infrastructure business, Fawkner Property to acquire Waypoint REIT assets, and Elanor to acquire 19 Harris Street in Pyrmont.

The broader market

The ASX200 closed today at 7,435 points, up 78.10 points or 1.06%. For the week, the market is down 60.4 points or 0.8%.

asx-end-week-29-04-2022
Image: Google.

Top-performing ASX listed real estate company shares: 29 April 2022

Company Code Price ($) Change (%)
Domain DHG 3.52 +2.92
REA Group REA 129.24 +2.75
Charter Hall Social Infrastructure CQE 4.07 +2.26
Dexus Industria DXI 3.415 +2.25
Goodman Group GMG 23.96 +2.00

Source: ASX

The movement

It was another short week, with Monday being ANZAC day.

On Tuesday, GPT Group (ASX: GPT) announced the appointment of Marissa Bendyk as general counsel and company secretary of GPT.

Wednesday was a big day of ASX-listed real estate with three major acquisitions announced, along with an operating update from Centuria Industrial REIT (ASX: CIP).

CIP announced it had secured 38,813 square metres of lease terms during the quarter, had portfolio occupancy at 98.5%, 8.7 year WALE, and acquired five value-add and development assets in urban infill markets for $96.2 million, with the portfolio expanding to 85 assets ($4 billion).

Waypoint REIT (ASX: WPR) announced the sale of 29 assets to Fawkner Property for a total of $141.8 million, with the assets two each in capital cities and other metro. The remaining 25 were situated in regional. All 29 properties totalled a WALE of 9.2 years.

Dexus (ASX: DXS) announced that it entered into an agreement to acquire Collimate’s real estate and domestic infrastructure business. The total cost is circa $1 billion, comprising $250 million upfront cash consideration, up to $300 million in earn out consideration (which is not expected to reach the full amount), and $450 million in co-investment stakes, also dependent on various factors.

Finally for Wednesday, Elanor Commercial Property Fund (ASX: ECF) announced that it will take a 49.9% stake in Elanor Investors Group managed fund which is acquiring 19 Harris Street in Sydney.

The property is valued at $185 million.

On Thursday, trading updates for Growthpoint (ASX: GOZ), Unibail-Rodamco-Westfield (ASX: URW), Mirvac (ASX: MGR), and The Agency (ASX: AU1) were released.

GOZ announced 6% of its portfolio income or circa 112,000 square metres was leased for the quarter, along with WALE moving upward to 6.4 years and a portfolio occupancy of 97%.

URW announced 34.2% more turnover compared with the previous corresponding period, along with improved rent collection at 93%. The company also sold several properties/interests across Europe and America, including Promenade Mall in the US, and Solna Centrum, 45% stake in Westfield Carré Sénart, and the agreement for sale of Gera Arcaden in Europe.

Mirvac (ASX: MGR) achieved 2,332 residential sales FYTD(3Q22:518), with pre-sales increasing to circa $1.6 billion. The company also settled 1,645 residential lots, FYTD (3Q22,342).

The Agency (ASX: AU1) reported total revenue for the quarter was $18.8 million, with gross commission income at $25.4 million. The number of properties sold was 1,421, with the value of those, a combined $1.4 billion.

Today, Boyuan Holdings Limited was removed from the official list. The ASX said “The securities of BHL have been suspended from trading for a continuous period of 1 year after the deadline for lodgement of BHL’s audited financial statements for the year ended 31 December 2020. The removal has been undertaken in accordance with the policy set out in section 3.4 of ASX Listing Rules Guidance Note 33 Removal of Entities from the ASX Official List.”

Rent.com.au (ASX: RNT) announced a quarterly revenue of $853,000, 7% up from the same quarter last year. The company also has $3.1 million cash on hand at the end of the quarter.

In Land and Homes Group’s (ASX: LHM) third-quarter report, the company said expenditure incurred on its Barry Parade project was $135,436.

Acumentis (ASX: ACU) included its Acumentis (SA) acquisition in its third-quarter highlights. ACU achieved 13% growth in quarterly revenues to $12.9 million vs prior corresponding period of $12.1 million.

Other third-quarter reports were also released by GPS Alliance (ASX: GPS), Auckland Real Estate (ASX: AKL), CAQ (ASX: CAQ), and Mustera (ASX: MPX).

That’s the latest in ASX-listed real estate. Pity Liverpool won’t be coming to Perth – with those high occupancy rates you will truly never walk alone. Glory glory Australian property!

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