Augusta properties gain $3.7 million in value over six months
The revaluation gain for property owned directly by Augusta represents a 4.4% increase.
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Augusta Capital [NZX: AUG], the listed property investor and fund manager, will post a revaluation gain of $3.7 million for the six months through March.
The revaluation gain for property owned directly by Augusta represents a 4.4% increase, the Auckland-based company said in a statement. The increase in valuation combined with static rentals has seen the company's average rental yield decline to 7.06% from 7.34%.
On an annual basis, the company's properties have increased by $7.5 million, its portfolio occupancy has risen to 97% from 94% and its average lease term increased to 6.3 years from 5.9 years, it said. Augusta will release its annual earnings for the year through March on May 19.
Its shares increased 1.4% to $1.06 and have increased 4.5% this year.
(BusinessDesk)
Tina Morrison
Thu, 14 Apr 2016
Thu, 14 Apr 2016
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Augusta properties gain $3.7 million in value over six months
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