Australia’s largest ASX listed pure play office REIT

FY24 was an operationally successful year for COF with 42,722 sqm of leasing completed, including COF’s largest tenant renewing for 10 years over an existing footprint of 13,000 sqm.

Capital management remained a key focus during the period, with $139m of recent divestments, while refinancing of $862m of debt resulted in no debt expiring before FY28. Recent non-core divestments also improved overall portfolio quality, while the sales prices achieved were consistent with COF’s prevailing book values.

COF is exposed to well-performing markets where tenant net absorption has been strong. In particular, the REIT has benefited from robust leasing activity in Brisbane and Perth, which is consistent with wider activity in these markets.