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Property Portfolio
Abacus Property Group holds a diversified investment portfolio of primarily commercial, industrial and retail properties. Rental income from these properties is the largest contributor to the earnings of the Group.
Abacus's disciplined property selection process maintains a firm focus on fundamental real estate value. Abacus' property portfolio is primarily situated in eastern seaboard locations ideally positioned to benefit as markets recover from the lows of 2008 and 2009.
As at 31 December 2010, Abacus Property Group had a total of $861 million in property assets on the balance sheet.
Abacus also owns approximately $30 million of property assets classified as property, plant and equipment, including a portfolio budget accommodation properties in New Zealand and two pubs in NSW.
In a clear validation of Abacus’ core plus strategy was Abacus’ recently announced sale of 343 George Street for $78 million. This asset was originally acquired in July 2009 and settled in October 2009 for $55 million, delivering an equity IRR in excess of 68%.
Download the 2011 Abacus Property Book (3 mb)
| Principal investment property portfolio |
| Occupancy: 91.4% (excluding development assets) |
| WALE by income: 3.8 years (increasing to 4.4 following leasing activity since 31/12/2010) |
| WALE by area: 3.8 years |
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