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1Q22 highlights

  • High portfolio occupancy and long weighted average lease expiry (WALE) maintained at 97% and 6.2 years, respectively
  • Further leasing success at Botanicca 3, the Group’s new A-grade office building in Richmond, Victoria, which is now 93% occupied (30 June 2021: 78%) 
  • Deployed $103 million of undrawn debt to fund accretive acquisitions1 and continued to review opportunities to enter into funds management 
  • Maintains FY22 funds from operations (FFO) guidance of at least 26.3 cents per security (cps) and distribution guidance of 20.6 cps

Timothy Collyer, Managing Director of Growthpoint, said, “The Group has had a strong start to the financial year. We continued to see sustained tenant demand for our high-quality metropolitan office portfolio, as highlighted by our leasing success in Brisbane, Sydney and Melbourne, during the quarter. We are particularly pleased that Bunnings has leased an additional floor at Botanicca 3. Despite the challenges presented by COVID-19 lockdowns, this building is now 93% occupied, reinforcing our view that it is one of the highest-quality metropolitan offices in Australia.”

Read the full 1Q22 investor update

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