asx-wrap-feature
Image: Canva.
  • The market closed sharply lower at 6.474.80 points
  • Two companies made disposals of properties
  • Two CEO's received pay rises

The ASX continued to plunge this morning, with little else happening throughout the week.

Some dividends were announced, along with two sales and an appointment.

The broader market

The ASX200 closed today at 6,474.80 points, down 116.30 points to 1.76%

asx-end-week-17062022
Image: Google.

Top-performing ASX listed real estate company shares: [DD Month] 2022

Company Code Price ($) Change (%)
Ultima United UUL 2.83 +4.29
HomeCo Daily Needs REIT HDN 0.073 +2.82
BWP Trust BWP 1.275 +2.70
The Agency AU1 3.80 +2.56
Newmark Property REIT NPR 0.04 +2.31

Source: ASX

The movement

Tuesday kicked off to news from Unibail-Rodamco-Westfield (ASX: URW), the company to sell its Dutch property, Almere Centrum. URW announced that a group of private investors led by the UMB Group, with the net disposal price of €155 million (circa A$233 million) in line with the last appraisal value.

Also on Tuesday, Hotel Property Investments (ASX: HPI) advised that it updated the employment agreement with the CEO and MD Don Smith, whom will receive $485,000 per annum inclusive of superannuation as part of his total fixed remuneration. A full summary can be found in the HPI announcement.

On Thursday, Lifestlye Communties (ASX: LIC) announced that it will increase the managing director’s remuneration, with Mr Kelly to receive $900,000 inclusive of super and $20,000 car allowance with effect from 1 July 2022.

Eureka Group (ASX: EGH) announced it completed the sale of a 4.8 hectare parcel of land at Terranora in New South Wales for $2 million, including GST.

The property was sold in line with book value, prior to transaction costs. EGH continues to own the central facility at Terranora which has a carrying value of $0.6 million. EGH said opportunities for the realisation of this asset are being considered.

Scentre Group (ASX: SCG) announced Andrew Clarke will become the group’s Chief Financial Officer effective 1 October 2022. The announcement follows the announcement Elliot Rusanow will become CEO, also effective 1 October.

GARDA Property Group (ASX: GDF) announced that its Pinnacle West industrial development at 498 Progress Road, Wacol, has now been fully leased. For the 3,360 square metre Building A, GDF said a heads of agreement has been executed with an  multi-national tenant for a term of seven years. For the 8,050 square metre building B, GDF said Rydell Beltech has executed an agreement for lease, and a national freight business has heads of agreement and issued lease documents. Rydell Beltech has signed for seven years, and the freight business, 10 years.

SCA Property Group (ASX: SCP) announced its property valuations for June 2022 showed the total value of the company’s investment properties has increased by $34.5 million, from $4,426.4 million at December 2021. The valuation is now $4,460.9 at June 2022.

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

Distributions

Distributions/Dividends announced:

Company Code Amount
Charter Hall Group CHC $0.2047
Hotel Property Investments HPI $0.103
GDI Property GDI $0.03875
SCA Property SCP $0.08
Centuria Industrial REIT CIP $0.04325
Centuria Office REIT COF $0.0415
Mirvac MGR $0.051
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