Dexus Convenience Retail REIT (ASX:DXC) has announced the successful exchange of contracts for the divestment of three assets, achieving a combined sale price of $8.0 million. The company, a listed Australian real estate investment trust which owns high quality Australian service stations and convenience retail assets, manages a portfolio valued at approximately $760 million as of 31 December 2025, predominantly located on Australia’s eastern seaboard and leased to leading Australian and international convenience retail tenants. These divestments represent an average 1.4% premium to their 31 December 2025 book values, signalling robust market demand.
The properties involved include 1 Wishart Street, Gwelup WA, which is slated for settlement in mid-July 2026. Additionally, 1 Flinders Street, Monto QLD, and 74 Connor Street, Zilzie QLD, are both expected to settle in mid-August 2026. Pat De Maria, DXC Fund Manager, commented on the sales, stating, “These divestments reflect the continued strength in demand for convenience retail assets that offer stable and defensive income, with pricing achieved reinforcing the value of our portfolio.”
Mr. De Maria further elaborated on the strategic rationale behind these transactions. He noted, “We remain disciplined in divesting smaller assets and sites with older tank technology to improve portfolio quality, with proceeds to be redeployed into our on-market security buy-back to enhance value for existing securityholders.” This approach underscores DXC’s commitment to optimising its asset base and delivering enhanced value for its securityholders.
