• FY26 FFO delivered in line with guidance
• Occupancy increased to 100%
• Debt refinanced, extending duration profile to 4.3 years
• FY27 FFO guidance of 11.3cpu
• Positive re-leasing spreads achieved

Centuria Office REIT (COF) presented its FY26 results, highlighting a robust performance. FFO was delivered in line with guidance at 11.2cpu per unit, and the distribution yield stood at 11.3%. The portfolio achieved 91% occupancy, with 100% occupancy in Western Australia and South Australia. The company refinanced $1bn of debt, extending the duration profile to 4.3 years and reducing debt margins by 30 basis points. FY27 guidance was set at 11.3cpu FFO, with a distribution yield of 10.1%. Positive re-leasing spreads were achieved across the portfolio, with 39,821 sqm leased in 47 deals. The portfolio valuation continued to stabilize, with a weighted average cap rate of 7.04%.

FY27 FFO guidance 11.3cpu, FY27 distribution guidance 9.0cpu

Improving market conditions expected to support FFO stabilization in FY27. Growth drivers for Australian office markets include constrained future office supply, rising replacement costs, and limited development pipeline. Continued forecast rent growth is expected for prime assets.