High Portfolio Occupancy
The portfolio occupancy remained high at 91.8%, with a high rental reversion of 9.5% for leases renewed in the first half.
Successful Property Acquisitions and Redevelopments
Completed the acquisition of DHL Logistics Center in Indianapolis, U.S., and the redevelopment of 1 Science Park Drive. Total acquisition costs for properties amounted to almost $1.2 billion with attractive NPI yields of 6% to 7.6%.
Divestment at a Premium
Divested Parkside business-based property in the U.S. at a 45% premium to market valuation.
Stable Financial Metrics
Gearing remains healthy at 37.4% with stable cost of debt at 3.7%. Distribution per unit (DPU) increased by 2.1% compared to the second half of 2024.
Significant Leasing Activity
The U.S. business park property in Portland achieved higher occupancy, and Australia improved occupancy rates driven by long leases in logistics properties.