Dexus surpasses FY27 divestment target following $715m property sale
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The news: Dexus has finalised the divestment of its three wholly owned office properties for a combined total price of $715 million, with settlement scheduled for October.
The context: Dexus stated that the latest round of sale exceeds its previously announced divestment target, made in 2024, to reach approximately $2 billion by the end of FY27.
The properties include two offices on Hickson Road in Sydney and one Brisbane property on Albert Street, with the sales reflecting a 4% discount to their combined book values as of 31 December 2025.
Once settled, Dexus will receive 67% of the sale price, with the remaining 33% balance deferred for 30 months and subject to a 6.25% yearly coupon. The proceeds are set to reduce Dexus’ pro forma look-through gearing by approximately 2 percentage points.
What they said: “We have a high quality investment portfolio and transactions like these show we can secure liquidity at pricing which represents a significant premium to what is implied in the Dexus security price,” CEO Ross Du Vernet said.
“We remain focused on initiatives that demonstrate and unlock value,” he added.
The source: ASX
