Growthpoint Properties subsidiary Growthpoint Properties Australia’s (GOZ’s) total returns have outpaced the major Australian real estate investment trust and share market indexes.
Data published by investment banking company UBS in June found that the recent total returns of GOZ outstripped performance benchmarks over six months, as well as over one, three and five years.
Over six months, GOZ achieved a total return of 9.2%, more than double the achievement of the S&P/ASX A-REIT 300 Index at 3% and the S&P/ASX 300 at 4.3%.
For total return over one year, GOZ delivered 22.3% compared with the A-REIT 300 and the ASX 300, which both showed total returns of 13.2%.
With the three-year performance, GOZ notched up a total return of 11.8% a year, compared with the A-REIT 300 at 12.2% a year and the ASX 300 at 10% a year.
Growthpoint CEO Norbert Sasse said part of GOZ’s performance is driven by the Australian domestic economy, which remains favourable for commercial property, while unemployment is low and expected to decrease further.
Further, population growth has been strong, particularly along the eastern seaboard of the country where GOZ’s portfolio is concentrated.