BWP Trust Faced with Vacancies, But No Material Impact on 2017 Distribution or Fair Value
Of the 81 assets owned by narrow moat-rated BWP Trust, 79 are Bunnings Warehouse sites. Bunnings as the dominant hardware retailer in Australia is a top tier tenant and its competitive position has strengthened slightly following the collapse of its competitor Masters. The issue for BWP Trust is that in the wake of the Masters closure, Bunnings has decided to vacate seven sites currently leased from BWP Trust and relocate to former Masters sites.This has contributed to BWP Trust’s share price u...
BWP Trust is a real estate investment trust, investing in and managing commercial properties throughout Australia. Co. invests in properties with long-term leases to substantial tenants, predominantly in the bulky goods retail sector. The majority of Co.'s properties are retailing properties, in particular, Bunnings Warehouses, leased to Bunnings Group Limited.
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