By Digifin Pty Ltd · About this coverage
About Dexus (ASX:DXS)
Dexus is an ASX-listed real estate group that owns, manages and develops Australian property, with a portfolio weighted to office and industrial assets. It also operates a funds management business investing in property and infrastructure on behalf of institutional clients.
Dexus (ASX:DXS) announced it has exchanged contracts for the sale of three wholly owned office properties for a combined gross sale price of $715 million, exceeding its announced target of circa $2 billion of divestments by the end of FY27 and delivering ahead of target. The properties are 30-34 Hickson Road and 36 Hickson Road in Sydney and 123 Albert Street in Brisbane. The combined price was in line with the combined independent valuations as at 30 June 2026, reflecting a circa 4% discount to combined book values at 31 December 2025.
Settlement is expected to occur in October 2026, subject to certain conditions precedent, including FIRB approval. At settlement, circa 67% of the sale price will be received, with the remaining circa 33% balance deferred for 30 months and subject to a 6.25% per annum coupon. Sale proceeds on settlement would reduce Dexus's pro forma look-through gearing by circa 2 percentage points. Dexus Group CEO and Managing Director Ross Du Vernet said the transactions delivered on the commitment made in 2024 and demonstrated a disciplined approach to capital management.
Source: Dexus (ASX:DXS), 27 July 2026. Summary content supplied by Digifin Pty Ltd.
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