• $188m of divestments at 17% premium to book value
• Development of 50-64 Mirage Road completed, sold for 33% premium
• 14,400sqm of lease terms agreed, FY26 re-leasing spreads 36%

Centuria Industrial REIT (CIP) has provided its Q3 FY26 operating update, highlighting several key achievements. During the quarter, CIP divested four properties for a combined consideration of $188 million at an average premium to prior book value of 17%. This continues CIP's track record of divesting assets at significant premiums, having sold almost $460 million of assets since FY23 at an average premium of 12%. CIP also achieved successful outcomes across its development projects, including the completion of the 50-64 Mirage Road, Direk SA development, which was sold to an owner-occupier for $50 million, a 33% premium to total project costs. Other recently completed developments include the redevelopment of 30 Fulton Drive, Derrimut VIC and the new 15-19 Caribou Drive, Direk SA warehouse. During the quarter, CIP agreed 14,373 sqm of new lease terms, with FY26 year-to-date re-leasing spreads averaging 36%, reflecting the strong market conditions in the Australian industrial sector. Looking ahead, CIP reaffirmed its FY26 FFO guidance range of 18.2-18.5 cpu and distribution guidance of 16.8cpu.

CIP reaffirmed its FY26 FFO guidance range of 18.2-18.5 cpu and distribution guidance of 16.8cpu, expected to be paid in quarterly instalments.

CIP expects the domestic infill industrial market's supply-demand imbalance to persist, with limited new warehouse construction and consistently high occupier demand. Current macroeconomic uncertainty is expected to curtail future industrial market supply, further increasing the value of high-quality, existing infill industrial assets.