REVALUATIONS of ASX-listed Qube’s investment properties have resulted in an overall fair value gain of around $155.4 million.
The assets include Qube’s 99-year leasehold interest in the land and warehousing at Moorebank, and several other freehold properties that are leased to third party tenants.
The investment properties do not include other assets used by Qube in its operations such as warehouses occupied by Qube or rail terminals operated by Qube.
Fair value gains will be included in Qube’s statutory results, but not be reflected in Qube’s underlying results as they are non-cash and unrealised.
Qube expects to report total non-cash impairments of around $14.0 million pre-taxor the 2019 financial year relating to the carrying value of its investments in associates Prixcar, NSS and Quattro.
