BWP Trust reports revaluation gains, strategic acquisitions, director buys shares

BWP Trust announced an unaudited property revaluation increase of A$156 million as of 31 December 2025. This was driven by enhanced income from re-leasing activities in its non-Bunnings large format retail (LFR) portfolio and a firming of the weighted average capitalisation rate to 5.27 per cent. This gain includes a valuation increment from a lease reset and extension approved by unitholders in July 2025. The board is expected to formally adopt these revaluations as part of the half-year results to be released in February 2026.

The Trust also completed the acquisition of Morayfield Home Centre in Queensland for A$48.0 million, achieving a market cap rate of 5.75 per cent. This LFR centre spans 12,086 square metres and is 100 per cent occupied with a weighted average lease expiry of 4.0 years. Concurrently, BWP divested its ex-Bunnings Morley property in Western Australia for A$19.5 million, marking a 56 per cent premium over its 30 June 2025 book value of A$12.5 million.

In related news, director Fiona Elizabeth Harris increased her indirect interest in BWP Property Group Ltd by acquiring 50,000 fully paid ordinary stapled securities at A$3.95 per security on 17 December 2025 through an on-market trade, bringing her total holdings to 70,000 securities.