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11.8 cpu
FY25 FFO delivered
10.1 cpu
FY25 DPU delivered
$1.67
NTA1
93%
A-grade offices2
Australia’s largest ASX listed pure play office REIT
In FY25 COF agreed 24,406 sqm of leasing across 44 deals3, representing 8.9% of the portfolio’s net lettable area. Portfolio occupancy remained well above the national metropolitan market average of 82%4, reflecting continued tenant demand and proactive leasing strategies.
COF reported $18 million in valuation growth in the second half of FY25, marking the first period of growth since FY22.
During FY25, debt was successfully refinanced with covenants renegotiated and no change to margin. Refinancing has resulted in no debt expiring before FY28.
COF’s 1.1MW edge data centre has delivered a 19% uplift in asset valuation and diversifying tenant mix.
Quicklinks
COF FY25 results highlights
Watch Belinda Cheung, COF Fund Manager, discuss the Fund’s FY25 highlights.
Press play to watch the video.
A portfolio of quality, highly connected and affordable office space
$1.9bn
Portfolio book value across 19 assets5
91.2%
Portfolio occupancy6
4.1 year
Portfolio WALE7
4.9 star
NABERS SPI energy rating8
Connectivity
Connectivity with key transport nodes and reduced commute times
Enhanced amenity
COF assets provide access to wellbeing amenity, retail and hospitality
Young portfolio
Prime assets are generating greater tenant demand
Accessible price point
Deeper investment demand for assets valued less than $150 million.
- NTA per unit is calculated as net assets divided by number of units on issue.
- Management interpretation of Property Council of Australia (PCA) guidelines.
- Includes heads of agreement and executed leases.
- JLL National Office Summary, Q2 2025.
- Investment properties of $1.9bn includes a $32.4m leasehold asset under AASB 16.
- By gross income.
- Weighted average lease expiry (WALE) by gross income.
- NABERS SPI Energy & Water Rating is for the period 1 June 2024 to 31 July 2025.