Cromwell Property Group
ASX:CMW
Cromwell Property Group
Cromwell Property Group is a real estate investment trust, which engages in the property investment and funds management business. The company is headquartered in Brisbane, Queensland. The firm operates through three segments: Direct property investment, Indirect property investment, and Funds and asset management. The Direct property investment segment includes the ownership of investment properties located in Australia, Poland, and Italy. The indirect property investment segment includes investments in the Cromwell European Real Estate Investment Trust (CEREIT), the Ursynow joint venture, the LDK Seniors living joint venture, and other investment vehicles. Fund and asset management segment includes the activities in relation to the establishment and management of external funds for institutional and retail investors, property and facility management, leasing and project management and development-related activities.
Cromwell Property Group is a real estate investment trust, which engages in the property investment and funds management business. The company is headquartered in Brisbane, Queensland. The firm operates through three segments: Direct property investment, Indirect property investment, and Funds and asset management. The Direct property investment segment includes the ownership of investment properties located in Australia, Poland, and Italy. The indirect property investment segment includes investments in the Cromwell European Real Estate Investment Trust (CEREIT), the Ursynow joint venture, the LDK Seniors living joint venture, and other investment vehicles. Fund and asset management segment includes the activities in relation to the establishment and management of external funds for institutional and retail investors, property and facility management, leasing and project management and development-related activities.
Operating Profit: Cromwell grew operating profit by 1.5% to $55.9 million for the half year, supported by strong investment portfolio performance.
Assets Under Management: AUM rose 13.6% since June to $5 billion, including the addition of Terre Property Partners' $560 million platform.
Portfolio Occupancy: The investment portfolio maintained high occupancy at 97.2%, with a valuation uplift of $72 million driving a 3.6% increase in net tangible assets per security.
Balance Sheet & Liquidity: Gearing sits at 30.2%, at the low end of the target range, and Cromwell has $418 million in liquidity.
Distribution Guidance: Management reaffirmed annual distribution guidance of $0.03 per security for FY2026, paid quarterly.
Leasing Spreads: Recent leasing at 400 George Street achieved positive spreads of about 4% to 5%.
Strategic Growth: Cromwell continues to pursue growth through capital raising, new fund launches, and selective acquisitions, while maintaining balance sheet discipline.
