Dexus’ (ASX:DXS) industrial property valuations jump

Property group Dexus (ASX:DXS) has increased the total valuation of its property assets by about $421 million over the six months to December 31, or 2.4 per cent on prior book values.

The company said 124 out of 189 total assets, comprising 34 office properties, 89 industrial properties and one healthcare property, had been externally valued.

The best performer was industrial property, up 8.7 per cent on strong demand across the sector. The pandemic-hit office portfolio was up by just 0.6 per cent.

“As evidenced by these latest independent valuations, the value of Dexus’s quality portfolio has remained robust in a Covid-impacted environment. We have continued to see growth in asset values for well-located industrial and logistics facilities, supported by strong investment demand,” said CEO Darren Steinberg.

“We anticipate the post-lockdown environment will continue to see global capital attracted to Australia, benefiting quality assets across the core property sectors.”

Shares in Dexus (ASX:DXS) are trading 0.8 per cent lower at $11.23.