Dexus Completes $2 Billion Divestment Ahead of FY27
Key points
- Completed sale of three office properties for $715 million
- Achieved divestment target ahead of schedule
- Settlement expected in October 2026
- Sale proceeds to reduce gearing by 2 percentage points
Full summary
Dexus announced the completion of a $2 billion divestment program ahead of the FY27 target. The company sold three office properties for a combined gross sale price of $715 million, exceeding its target. The properties include 30-34 Hickson Road and 36 Hickson Road in Sydney, and 123 Albert Street in Brisbane. The sale is expected to settle in October 2026, subject to conditions including FIRB approval. The sale proceeds will reduce Dexus's pro forma look-through gearing by approximately 2 percentage points.
Guidance
Sale of three office properties for $715 million, reducing gearing by 2 percentage points
Outlook
Dexus remains focused on initiatives that demonstrate and unlock value, maintaining a high-quality investment portfolio.
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