Basic Profile & Key Statistics
Key Indicators
Performance Highlight
Gross revenue and NPI declined YoY mainly due to lower income resulting from the divestment of Piazza Affari 2 and Corso Lungomare Trieste 29, as well as the absence of income from Maxima, which was under redevelopment. Additionally, higher finance costs offset by a tax reversal contributed to a reduction in distributable income and DPU YoY.
Rental Reversion
The rental reversion for 2H FY23 stands at 5.7%.
Divestment
In 4Q FY23, CEREIT divested Viale Europa 95 and Corso Lungomare Trieste 29 in Italy.
Development
Redevelopment for Nervesa 21 was completed in January 2024. Maxima is currently undergoing strip-out work. Additionally, CEREIT has identified three redevelopment opportunities.
Related Parties Shareholding
The REIT manager and directors of the REIT manager hold a relatively low proportion of shares.
Lease Profile
The WALE is relatively long and the lease expiry is well spread. Additionally, the weighted average land lease expiry is long.
Debt Profile
The adjusted interest...