RETAIL SPENDING BOOSTS CARINDALE PROPERTY TRUST

RETAIL SPENDING BOOSTS CARINDALE PROPERTY TRUST

CARINDALE Property Trust (ASX:CDP) has reported positive half year results, with a 5.6 per cent lift in net property income to $20.5 million.

Profit attributable to members of the Trust was up 45.6 per cent to $27.3 million, compared to $18.7 million in the previous corresponding period.

Carindale Property Trust owns a 50 per cent stake in Westfield Carindale shopping centre, managed by Scentre Management Limited.

The centre was leased in excess of 99.5 per cent at 31 December 2014, with total retail sales for the calendar year up 1.4 per cent at $913.6 million.

Funds from operations was $11.9 million, an increase of 12.5 per cent, which excludes unrealised fair value adjustments of $15.4 million.

CDP will pay a distribution of 16.99 cents per unit to members on February 27.  

Help us deliver quality journalism to you.
As a free and independent news site providing daily updates
during a period of unprecedented challenges for businesses everywhere
we call on your support

Employee resilience is key to business resilience
Partner Content
Employee mental health and wellbeing is top of mind for Australian businesses, and or...
Aon
Advertisement

Related Stories

Commonwealth raises COVID-19 Disaster Payment to JobKeeper levels

Commonwealth raises COVID-19 Disaster Payment to JobKeeper levels

The Federal Government's COVID-19 Disaster Payment will see e...

Dexus names Dap & Co for Naldham House fitout

Dexus names Dap & Co for Naldham House fitout

Dexus Property Group (ASX: DXS) hopes to restore Brisbane's&n...

Why governments will have to consider the costs of long COVID when easing pandemic restrictions

Why governments will have to consider the costs of long COVID when easing pandemic restrictions

With governments worldwide under pressure to ease pandemic restrict...

Construction starts on $250m CHEP service centre in Brisbane

Construction starts on $250m CHEP service centre in Brisbane

Joint venture (JV) construction partners Goodman (ASX: GMG) and B...