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Port Central Shopping Centre

GOWINGS

Est. 1868

STRATEGIC RATIONALE FOR INVESTMENT

  • Gowings has been seeking to acquire a high yielding asset whose cashflows are reliable and stable.

  • With the Australian economy and unemployment remaining highly resilent, we believe it is an ideal time in the cycle to acquire prime retail property at attractive prices.

  • Post acquisition, our property portfolio will represent 25% of our total portfolio (net of debt) including listed equities, managed private equity and cash.

  • This increased weighting of property will provide the benefits of diversification to our income streams and expected longer term capital growth.

  • Over the longer term, Gowings’ property expertise may be used to create opportunities for capital growth.

  • The strong passing cash flow will support Gowings’ current level of ordinary dividends (10 cents per share).

  • The net rent is tax assisted by significant depreciation allowances.

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