Moderate Leverage / Balance Sheet SupportA relatively low-to-moderate debt-to-equity ratio and a sizeable equity base (52.2m in 2025) provide structural financial flexibility for a REIT. This reduces near-term refinancing pressure and preserves capacity to manage liabilities or opportunistic asset repositioning over several months.
Positive Operating And Free Cash Flow HistoryConsistent positive operating and free cash flow across prior years demonstrates underlying cash-generation ability, a durable asset for a property income vehicle. Even with recent deterioration, historical cash conversion indicates operations can produce liquidity to support near-term obligations and stabilise operations.
Lean Operating FootprintA very small employee base implies a low fixed cost structure and operational agility. For a specialised, diversified REIT, lean overhead helps preserve cash, reduces burn during rent or asset-disposal cycles, and supports longer runway to implement strategic asset management or restructuring.