GPT Group reports 97.6% portfolio occupancy
Key points
- GPT Group achieved an average investment portfolio occupancy of 97.6% for the September quarter.
- The group expanded its retail footprint with 50 new stores at Rouse Hill Town Centre and agreed to purchase 66 Eagle Street for $380 million.
- Management aims to grow its value-add partnership, which has now committed over $500 million across multiple sectors.
GPT Group (ASX:GPT) reported an average portfolio occupancy of 97.6% across its investments for the quarter ended Sept. 30.
Total retail centre sales grew by 3.6% compared to the previous corresponding period, supported by a retail portfolio occupancy rate of 99.7%.
Post quarter-end, the company expanded the Rouse Hill Town Centre with 50 new stores opening fully leased on Oct 29.
During the period, the company acquired a 23-level office tower at 66 Eagle Street in Brisbane for A$380 million through its value-add partnership.
The group stated that this transaction extends the partnership into the office sector, taking total partnership investment to more than $500 million since February 2026.
Following the announcement, the GPT Group share price was unchanged at $5.17.
The business continues to progress on major development activities, including ongoing expansion works at Melbourne Central.
In the office segment, occupancy reached 92.8% for the quarter, aided by progress at Grosvenor Place in Sydney, where occupancy rose to 74.9%.
