Charter Hall Group - Property Platform June 2023 valuation update
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Charter Hall Group (ASX:CHC) today provides an update on property revaluations and the resulting impact on Group property funds under management (FUM).
In accordance with the Group’s valuation process, approximately 98% of all Group platform properties have been independently valued, providing a net valuation decline of $1.9bn. Valuations remain subject to audit and relevant fund Board approvals.
As a result of valuations and transaction activity to date, together with $1.2bn of development capex, Group Property FUM is expected to be circa $72 billion as at 30 June 2023.
The table below breaks down the asset movements by sector:
| Sector | Valuation movement (6 months) | Cap rate increases (6 months) | Jun-23 cap rate |
| Industrial & Logistics | +0.1% | 35 bps | 4.5% |
| Office | (3.7%) | 29 bps | 5.0% |
| Long WALE Retail | (7.8%) | 41 bps | 4.7% |
| Shopping Centre Retail | (2.5%) | 28 bps | 5.7% |
| Social Infrastructure | +0.8% | 18 bps | 4.8% |
| Platform Total | (2.8%) | 32 bps | 4.8% |
Charter Hall will report FY23 Results on Monday 21st August 2023.
Announcement Authorised by the Board
Click here to view the pdf ASX Announcement
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