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An update from GDI Property Group ( (AU:GDI) ) is now available.
GDI No. 38 Diversified Property Trust, an unlisted fund managed within the GDI Property Group platform, has contracted to sell its industrial assets at 5 and 15 Wood Street in Bassendean, Western Australia, for $29.5 million, in line with their latest valuation and significantly above the original 2014 purchase price of $10.88 million. The uplift in value reflects both a strong industrial leasing market and a new five‑year lease with UGL Pty Limited agreed in October 2024, which allowed the trust to capture higher market rents. Following settlement, the trust will be left with a single remaining asset, the 16‑hectare Broadmeadow industrial property in Newcastle’s flagship urban renewal precinct, which has risen in value to $78 million from $19.5 million at acquisition; GDI is advancing a rezoning Development Application in line with the council‑approved Broadmeadow Place Strategy, positioning the asset for mixed residential, commercial and urban services use. The Bassendean sale is also expected to support balance sheet management at GDI No. 38 Trust, which currently has $15 million of debt and intends to reduce this while maintaining capital flexibility, and GDI Property Group will receive a disposal fee on completion despite not holding units in the trust.
The most recent analyst rating on (AU:GDI) stock is a Hold with a A$0.50 price target. To see the full list of analyst forecasts on GDI Property Group stock, see the AU:GDI Stock Forecast page.
More about GDI Property Group
GDI Property Group is an Australian real estate investment group that manages listed and unlisted property trusts, with a focus on industrial and commercial assets. Through vehicles such as the GDI No. 38 Diversified Property Trust, it acquires, leases, manages and selectively divests properties across key urban and industrial precincts to generate capital growth and income for its investors.
Average Trading Volume: 744,423
Technical Sentiment Signal: Hold
Current Market Cap: A$342.8M
Learn more about GDI stock on TipRanks’ Stock Analysis page.