Recent Revenue DeclineAn 11.79% revenue decline is a structural concern if persistent, limiting distribution growth and signalling potential occupancy, lease reversion, or tenant mix issues. Without offsetting accretive acquisitions or re-leasing, revenue weakness pressures medium-term cashflow expansion.
Low Return On EquityROE of ~4.96% indicates limited returns on equity capital, constraining long-term unit-holder wealth creation. With a high equity ratio, management must generate stronger operating returns or pursue accretive investments to improve sustainable yield.
Concentrated Sector ExposureConcentration in social infrastructure (education, childcare, government leases) concentrates demand and policy risk. Sector-specific funding, enrollment or regulatory shifts can materially affect occupancy and leasing economics over the medium term, limiting diversification.