Hotel Property Investments: Interim result 2016

The mining downturn hitting Queensland hasn’t affected the value of HPI’s pubs

In Hotel Property Investments: Result 2015 we noted that ‘despite most of its properties being located in Queensland, which is still suffering from the mining downturn, we wouldn’t be surprised if capitalisation rates fell given the competition for pubs, particularly those like HPI’s which are leased to subsidiaries of Woolworths and Wesfarmers’.

This is precisely what happened in the six months to 31 Dec 15, with the average capitalisation rate for this pub owner falling from 7.42% to 7.28%.

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