Growthpoint Properties Australia is a publicly-traded Australian REIT (A-REIT) listed on the Australian Stock Exchange (ASX) with the share code: GOZ.
Why we’ve invested
Growthpoint entered the Australian market in 2009 taking advantage of the market dislocation, a result of the global financial crisis, which saw many Australian REITs over-geared and needing to be recapitalised. Growthpoint acquired a majority stake in GOZ, and from a financial reporting perspective, has consolidated the investment from day one.
GOZ at a glance
- Conservatively geared with strong interest cover
- Low vacancy rates and double the average lease length in the South African environment
- Over 55 properties evenly spread across the industrial and office sectors, with a value of over AUD 4 billion
- These are mostly fringe assets located in growth states across the eastern seaboard which are considered more affordable and are in high demand
- 60% of the robust tenant base is made up of Woolworths Australia and the Australian government
- The portfolio also has a solid development pipeline for future growth
- R10 billion has been invested in GOZ with a total distribution of R5 billion received to date
to visit Growthpoint Australia’s website.