Centro revaluations head south
Property group Centro has announced a significant downgrade in the valuation of the Australian and US property portfolios within its Centro Retail Trust.
The company announced to the Australian Securities Exchange today that the total decline in property valuations for the six months to June 30 was $1,023.8 million.
In a separate announcement, Centro Properties Group reported that the preliminary property valuation reports for its Australian and US managed property portfolios had declined by $2,624.6 million.
The announcement by Centro came at the same time as a number of superannuation funds have been facing the revaluation of directly-held property assets both in Australia and overseas.
AUTHOR
Mike Taylor
Recommended for you
While M&A has ramped up nationwide, three advice heads have explored Western Australia’s emergence as a region of interest among medium-sized firms vying for growth opportunities in an increasingly competitive market.
The Australian Financial Complaints Authority has reported an 18 per cent increase in investment and advice complaints received in the financial year 2025, rebounding from the previous year’s 26 per cent dip.
EY has broken down which uses of artificial intelligence are presenting the most benefits for wealth managers as well as whether it will impact employee headcounts.
Advice licensee Sequoia Financial Group has promoted Sophie Chen as an executive director, following her work on the firm’s Asia Pacific strategy.
