COF HY26 Results Presentation
| Stock | Centuria Office REIT (COF.ASX) |
|---|---|
| Release Time | 4 Feb 2026, 9:14 a.m. |
| Price Sensitive | Yes |
COF HY26 Results Presentation
- 29,354sqm leasing agreed across 26 deals, 10.7% of portfolio NLA, +133% vs HY25
- +$42.8m valuation gain, second consecutive period of valuation growth
- 12.5% premium on divestment of 9 Help Street
Centuria Office REIT (COF) delivered a solid HY26 performance, with 29,354sqm of leasing agreed across 26 deals, representing 10.7% of the portfolio's net lettable area and a 133% increase compared to HY25. This strong leasing momentum, along with portfolio valuation growth of $42.8m, the second consecutive period of growth, underpinned COF's results. The divestment of 9 Help Street at a 12.5% premium to book value further strengthened the portfolio and balance sheet. COF's vision is to be Australia's leading pure-play office REIT, with a focus on maintaining occupancy, extending portfolio WALE, and executing initiatives to create value across a portfolio of quality Australian office assets. The portfolio remains well-positioned, with 91% occupancy, a 4.1-year WALE, and an average building age of 19 years. COF's trading price is currently misaligned to market evidence and replacement cost, trading at a significant discount. Looking ahead, COF's FY26 guidance has been reiterated, with FFO of 11.1-11.5cpu and distributions of 10.1cpu.
FY26 FFO of 11.1-11.5cpu and distributions of 10.1cpu. Guidance remains subject to unforeseen circumstances and material changes in operating conditions and assumes an FY26 average all-in cost of debt of 5.4%.
COF will continue to focus on maintaining high occupancy, sustaining portfolio quality, and proactive capital management. Key priorities include delivering occupancy above the national average, maintaining or improving portfolio WALE, capturing rental growth, assessing asset allocation to improve portfolio quality, leasing to enhance tenant quality, improving sustainability performance, and assessing higher and better use opportunities. COF will also proactively maintain liquidity and debt covenant headroom, preserve a diverse lender pool and expiry profile, and manage interest rate volatility.