News: ALE property values rise

.

ALE Property Group (ASX:LEP) has revealed the valuation of its 87 properties grew in the 2012 financial year.



The property investor says property values have now risen by 1.7 per cent to $711.5 million.



ALE has attributed increasing rent, lower land tax expenses and a small increase in capitalisation rates for the annual gain in valuation.



The reassessment was based on an independent valuation that was conducted by Urbis.



ALE Property Group reported a net profit of $357,000 in the first half of the 2012 financial year.