- Major retail leaser Aventus Group (AVN) declared its half-year financial results on Tuesday
- The company owns and charters large retails centres across Australia
- Aventus’ leasing portfolio generated $53 million through operations during the first half of the 2020 financial year
- During the same period, Aventus maintained a 98.6 per cent occupancy rate
- The company’s current retail portfolio is valued at A$2.1 billion
- Shares in Aventus group are up 1.21 per cent today, trading for $2.93 each
Retail real-estate investor Aventus Group (AVN) announced their 2020 half-year financial results today.
The company’s leasing portfolio generated A$53 million in funds from its leasing operations during the first half of the financial year.
Aventus Group specialises in purchasing, developing and leasing large retail centres across Australia. They currently manage 20 shopping centres across the country, accounting for 2.1 billion in total assets.
Throughout 2020’s first two quarters, the company maintained an occupancy rate of 98.6 per cent across all its leased properties. 38 per cent of merchants trading on the real state work in the “everyday needs” category, proffering necessary items and services as opposed to luxuries.
Less than 2 per cent of the properties were leased to fashion and apparel retailers.
“Our strategy of intensive asset management and operational excellence remains clear and has driven organic growth and real returns for investors,” stated Aventus CEO, Darren Holland.
Mr Holland went on to outline the company’s direction moving forward, which included actively increasing tenants who fall into the “everyday needs” category, as well as expanding and developing the company’s existing assets.
Shares in Aventus group are up 1.21 per cent today, trading for $2.93 each in a market cap of $1.6 billion.