SCA Property Group (ASX: SCP) has independently valued 28 properties, representing 44% of the portfolio by value as at 30 June 2013, resulting in gain of $1.2 million.
The balance of 44 completed properties in the portfolio were internally valued at 30 June 2013. Those values are unchanged from the independent valuations.
The weighted average capitalisation rate for the portfolio remains substantially unchanged at 8.08% following the valuations.
The valuations of the Australian portfolio, excluding the 7 properties acquired in June, increased $1.4 million or 0.1% as a result of net increases in net operating income. The weighted average capitalisation rate for the portfolio remains unchanged at 8.11%.
The weighted average capitalisation rates for New Zealand properties tightened slightly from 7.96% to 7.88%. However, this was offset by an increase in statutory outgoings, resulting in a small valuation adjustment of NZ$0.3 million.
Property Review
