Capitaland: 60% owned subsi Australand provides summary on Queensland flooding with regards to its operations. Brisbane office remains closed due to damage to local infrastructure. 2 industrial assets are damaged but extent is yet to be determined, costs to be borne by insurance...
Residential project at Kangaroo Point impacted but extent to be determined, project will be delayed to complete by 1H12 vs earlier 2H11. With only 2 out of 9 Brisbane industrial properties damaged, flood is not likely to impact NAV significantly given insurance coverage as well.
No comments:
Post a Comment