The Australian Retirement Trust is wary of owning retail and office real estate after COVID-19 drove workers away from city centres.
after receiving bids that were 15 per cent below book value.
“The requirement for offices is not going to disappear completely, [but] what is evident is the nature of spaces or the kinds of facilities are going to change in order to make it attractive for people to come to it for work as opposed to working from home. , including a new deal with Alcoa Super which was announced on Tuesday. In that merger – ART’s third of the year – the fund will absorb Alcoa’s $2 billion in funds under management and 5000-plus members.Mr Patrick said there were other, more attractive options than commercial real estate assets that allowed funds to tap into the property sector, citing the fund’s recent investments in energy transmission and distribution network owner Ausnet, communications tower provider Ampitel and VicRoads.
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