Dexus Finance Pty Limited / Key word(s): Real Estate
Dexus (ASX: DXS)
10 November 2022
Sale of St Leonards trading property to contribute to FY23 trading profits
Dexus announces that it has successfully exchanged contracts to sell a trading property located at 12 Frederick Street, St Leonards, with profits to be recognised upon settlement which is expected to be in December 2022.
The gross sale proceeds of $118.5 million are expected to contribute approximately $50 million pre-tax trading profits in FY23.
The sale is subject to FIRB approval and practical completion of the refurbishment of the property.
Authorised by Scott Mahony, Company Secretary of Dexus Funds Management Limited
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Information and Explanation of the Issuer to this announcement:
Dexus (ASX: DXS) is one of Australia’s leading fully integrated real estate groups, managing a high-quality Australian property portfolio valued at $44.3 billion. We believe that the strength and quality of our relationships will always be central to our success and are deeply committed to working with our customers to provide spaces that engage and inspire. We invest only in Australia, and directly own $18.4 billion of office, industrial and healthcare properties, and investments. We manage a further $25.9 billion of office, retail, industrial and healthcare properties for third party clients. The group’s $17.7 billion development pipeline provides the opportunity to grow both portfolios and enhance future returns. Sustainability is integrated across our business, and our sustainability approach is the lens we use to manage emerging ESG risks and opportunities for all our stakeholders. Dexus is listed on the Australian Securities Exchange and is supported by more than 29,000 investors from 24 countries. With over 35 years of expertise in property investment, funds management, asset management and development, we have a proven track record in capital and risk management and delivering superior risk-adjusted returns for investors. www.dexus.com
Dexus Funds Management Ltd ABN 24 060 920 783, AFSL 238163, as Responsible Entity for Dexus (ASX: DXS)
10-Nov-2022 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Dexus Finance Pty Limited
264 George Street
+61 2 9017 1100
+61 2 9017 1101
Regulated Unofficial Market in Frankfurt
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