SCA Property Group has revalued its portfolio, resulting in an increase of $AU27 million to $1.615 billion.
SCA had 16 properties independently valued with the remaining 58 valued internally.
Since 31 December 2013 the value of the Australian properties has increased by $AU25.7 million, and the value of the New Zealand asset increased by $NZ1.5 million.
SCA noted that the main driver of the valuation movement is capitalisation rates tightening in Australia.
The June 2014 cap rate for the Australian portfolio, tightened to 7.86%, whereas in December 2013 it was 8.03%. The NZ portfolio tightened from 7.71% to 7.68%.
The Australian portfolio was revalued at $1.406 billion whilst the NZ portfolio was valued at $NZ226.5 million.
Property Review
