Fund Manager Summary
The fund managers believe that the outlook for GPT Group is promising, driven by strong performance indicators and strategic expansions. In their opinion, the recent $200 million expansion of Rouse Hill Town Centre underscores the ongoing relevance of well-located, brick-and-mortar retail, which is expected to enhance community amenities with over 11,000sqm of additional space. The fund managers also note the positive sentiment towards high-quality Australian property names, evidenced by GPT's 13.8% relative performance increase. Coupled with leasing momentum in logistics and office sectors, along with effective capital management progress, GPT is well-positioned to deliver long-term value for investors.
Source: Trading View
Commentary From The Managers
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Pendal Group
27 Oct 2025
$5.56
Summary
- Pendal Group continues to hold its position in GPT Group due to their recent acquisition of a 50% stake in Grosvenor Place, Sydney, for $860m.
- The acquisition was made at a 30% discount to replacement cost, indicating strong value.
- There is significant leasing upside with approximately 30% vacancy following the departure of major tenant Deloitte in 2023.
- This transaction is anticipated to drive medium-term earnings accretion for GPT Group.
- GPT’s exposure to the Sydney core CBD market will increase, raising the office portfolio mix in NSW to 59% from 52%.
- Post-transaction, gearing will rise to approximately 34% from 28.8%.
- The earnings impact for FY25 is expected to be minimal, with accretion reliant on leasing of vacant spaces and potential introduction of third-party capital.
- The deal marks the largest direct office transaction in Australia in over six years, reflecting confidence in the recovering CBD office market.
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Please note: The completeness, accuracy or current status of the investments referenced are not guaranteed.
Commentary From The Managers
Pendal Group
27 Oct 2025
$5.56
- Pendal Group continues to hold its position in GPT Group due to their recent acquisition of a 50% stake in Grosvenor Place, Sydney, for $860m.
- The acquisition was made at a 30% discount to replacement cost, indicating strong value.
- There is significant leasing upside with approximately 30% vacancy following the departure of major tenant Deloitte in 2023.
- This transaction is anticipated to drive medium-term earnings accretion for GPT Group.
- GPT’s exposure to the Sydney core CBD market will increase, raising the office portfolio mix in NSW to 59% from 52%.
- Post-transaction, gearing will rise to approximately 34% from 28.8%.
- The earnings impact for FY25 is expected to be minimal, with accretion reliant on leasing of vacant spaces and potential introduction of third-party capital.
- The deal marks the largest direct office transaction in Australia in over six years, reflecting confidence in the recovering CBD office market.
Summary
Perpetual Asset Management
30 June 2025
$4.84
- Perpetual Asset Management continues to hold an overweight position in GPT Group (GPT) due to its positive relative performance (+13.8%).
- Improving sentiment towards high-quality Australian property names supports the investment thesis.
- GPT's recent announcement of a $200 million expansion of Rouse Hill Town Centre underscores the ongoing importance of well-located, brick-and-mortar retail.
- The expansion is expected to deliver over 11,000sqm of additional space and community amenities.
- Leasing momentum in logistics and office sectors further strengthens GPT's position.
- Ongoing capital management progress indicates GPT's potential to deliver long-term value.
Summary
Please note: The completeness, accuracy or current status of the investments referenced are not guaranteed.
ANALYST INSIGHT
Equity Research Analyst
"In a landscape where quality reigns, GPT Group appears poised to capitalize on its strategic expansions and leasing momentum, potentially redefining the narrative around brick-and-mortar retail and long-term value creation in Australian property."
Last Updated: 27 Oct 2025
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Frequently Asked Questions
Who is investing in GPT Group (ASX:GPT)?
Fund managers including Perpetual Asset Management and Pendal Group have invested in GPT Group (ASX:GPT).
Why do fund managers invest in GPT Group?
Fund managers are investing in GPT Group due to its strong relative performance, driven by positive sentiment towards quality Australian properties. The company's strategic expansion of Rouse Hill Town Centre, adding over 11,000sqm of retail space and community amenities, underscores its relevance in brick-and-mortar retail. Additionally, GPT's leasing momentum in logistics and office sectors, along with effective capital management, positions it well for long-term value creation.
What happened to GPT Group (ASX:GPT)?
Fund managers are investing in GPT Group due to its strategic acquisition of a 50% stake in Grosvenor Place, Sydney, at a 30% discount to replacement cost. This move is expected to enhance medium-term earnings, increase exposure to the Sydney CBD market, and improve the office portfolio mix in NSW. Despite a minimal immediate earnings impact for FY25, the opportunity for significant leasing upside and confidence in the recovering CBD office market make GPT Group a compelling investment.