Highlights
• GPT upgrades 2025 Funds from Operations (FFO) guidance to 34.0 cents per security, up 5.5% year-on-year.
• Group portfolio maintains high occupancy of 98.0% with a weighted average lease expiry (WALE) of 4.4 years.
• GPT completes key logistics partnership and expands office portfolio with Sydney’s Grosvenor Place acquisition.

GPT Group (ASX:GPT) reported a positive September quarter 2025 performance, supported by high portfolio occupancy and consistent rental growth across its retail, office, and logistics segments. The Group also upgraded its full-year Funds from Operations (FFO) guidance, citing continued operational momentum. Following the announcement, GPT shares rose 2.27% to close at AUD 5.40 per share on 6 November 2025.

Portfolio Performance Remains Resilient

The Group’s investment portfolio occupancy stood at 98.0%, with a weighted average lease expiry (WALE) of 4.4 years as of 30 September 2025. The retail portfolio achieved one of the highest occupancy levels in the sector at 99.6%, supported by steady tenant demand and consumer activity.

Total Centre sales for the quarter increased 3.4% year-on-year, while Total Specialty sales were up 4.8%. The retail portfolio’s moving annual turnover (MAT) rose 3.8%, and Specialty MAT improved 2.4%, reaching a productivity level of AUD 13,559 per square metre. Specialty occupancy costs averaged 15.7%, indicating sustained operational efficiency across retail assets.

Office and Logistics Segments Drive Growth

GPT’s office portfolio reported an occupancy rate of 95.2% with a WALE of 4.7 years, continuing to benefit from stable tenant retention. In a strategic move post-quarter, GPT exchanged contracts for a 50% interest in Grosvenor Place, Sydney, valued at AUD 860 million, in partnership with the Commonwealth Superannuation Corporation.

The logistics portfolio maintained favourable performance with 98.4% occupancy and a WALE of 4.7 years. The Group also completed the settlement of its new logistics partnership with QuadReal, forming the GPT QuadReal Logistics Trust 2 in August 2025, reinforcing its position in the expanding logistics sector.

2025 Outlook Upgraded

GPT upgraded its 2025 Funds from Operations (FFO) guidance to approximately 34.0 cents per security, up from its prior forecast of at least 33.2 cents, representing a 5.5% increase year-on-year. The Group reaffirmed its distribution guidance of 24.0 cents per security for 2025.