Growthpoint’s 65% share of GOZ performed exceptionally for FY15. GOZ was one of the best performing A-REITs in FY15 and delivered a total AUD return of 36.4% to Growthpoint. The distributions received from GOZ during the year amounted to R658 million.
GOZ has grown significantly since Growthpoint’s initial acquisition in 2009. It has grown its market capitalisation to AUD1,8 billion and owns assets of AUD2,3 billion.
GOZ achieved the major milestone of becoming a component of the S&P/ASX200, which has seen a marked improvement in its liquidity and tradability, adding to shareholder value. Its share price increased from AUD2.45 to AUD3.13 at FY15.
How GOZ offers Growthpoint and our shareholders value:
• The size of our investment in Australia at a fair value of R10,9 billion is large enough to have an impact on Growthpoint without changing the nature of the company or exposing it to excessive foreign risk
• It provides Growthpoint international diversification and exposure to a developed and stable economy that has prospered throughout the global financial crisis
• It is a pure Australian investment with 53 properties located in all Australian states with good proximity to key infrastructure, particularly CBDs, ports, airports and major arterial road networks
• It is a low-risk investment in Australia with most of its rental income coming from some of Australia’s largest and most stable companies.
Please visit Growthpoint Australia’s official website.