MOF has announced property revaluations as at December 2008.
Entire portfolio of 42 properties has been independently revalued.
Value of the portfolio has decreased 10.5% to $5.9bn.
Average capitalisation rate for the portfolio weakened by 78bps to 6.95%.
I summarize, thus.......Independent revaluation of the entire portfolio, rather than a portion supplemented by Directors valuations of the balance, is a significant positive for transparency.
MOF Price at posting:
15.5¢ Sentiment: None Disclosure: Not Held
