Highlights

  • Centuria Office REIT reported FY26 FFO of AUD 66.9 million and distributions of 10.1 cents per unit, meeting guidance overall.
  • The trust leased 39,821 square metres across 47 transactions, lifting portfolio occupancy to 91% during the FY26 reporting period overall.
  • Net tangible Assets stood at AUD 1.66 per unit, with approximately AUD 1 billion of Debt refinanced during FY26 overall.
  • Centuria Office REIT outlined FY27 FFO guidance of 11.3 cents and distributions of 9 cents per unit for investors overall.

Centuria Office REIT released its FY26 full-year results on 4 August 2026, reporting FFO of $66.9 million — 11.2 cents per unit — and distributions of 10.1 cents per unit, both meeting guidance. The result was supported by near-record leasing activity of 39,821 sqm across 47 transactions during FY26, delivering positive re-leasing spreads of 5% and lifting portfolio occupancy to 91%. The REIT also returned to statutory profitability, posting a net profit of $55.2 million against a prior-year loss of $19.8 million, as a property divestment transacted at a significant premium to Book Value and valuations stabilised.

Leasing Activity and Portfolio Quality

COF's leasing team secured 39,821 sqm of office space across 47 transactions during FY26 — near the REIT's historical record — at positive re-leasing spreads of 5%. This strong leasing activity maintained portfolio occupancy at 91% and contributed to stabilising valuations. The weighted average Capitalisation rate (WACR) expanded 16 basis points to 7.04%, a modest widening that reflected ongoing market repricing. The portfolio spans 18 assets with a book value of $1.9 billion, an average building age of 19 years, and a WALE of 4.0 years. Crucially, 97% of the portfolio comprises A-grade office assets — the quality tier experiencing the strongest tenant Demand in the current flight-to-quality market.

Balance Sheet and Debt Refinancing

During FY26, COF refinanced $1 billion in debt and extended the weighted average debt expiry to 4.3 years — a significant reduction in near-term refinancing risk. Gearing stood at 43.7% at 30 June 2026 with 76% of debt Interest Rate hedged, providing Earnings protection against rate volatility. Centuria Capital Group remains COF's largest unitholder with a 19% co-investment, aligning manager and unitholder interests. The divestment of 9 Help Street, Chatswood completed at a 12.5% premium to book value during the year, validating the quality of COF's underlying assets.

FY27 Outlook

Management provided FY27 FFO guidance of 11.3 cents per unit and distribution guidance of 9.0 cents per unit — a step down in distributions reflecting a lower Payout Ratio as COF retains more earnings to support Balance Sheet management. At the prevailing unit price of $0.89, the 9.0 cent FY27 distribution guidance implies a forward distribution Yield of approximately 10.1%. With improving leasing conditions, stabilising valuations, and a refreshed debt profile, COF is positioned to benefit from the gradual normalisation of the Australian office market.

Stock Price Information

On 6 November 2026, Centuria Office REIT (ASX:COF) shares recorded a change in price. For current pricing, refer to the ASX website or your broker platform.