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South-Africa: SEREIT lifts profit and NAV return despite valuation pressures and two major risks

South-Africa: SEREIT lifts profit and NAV return despite valuation pressures and two major risks

Published on

05 Dec 2025, 10:20 am

Key topics: IFRS profit rises to €2.2m; NAV total return improves to 2%; balance sheet strengthened through disposals and buybacks.

Portfolio occupancy climbs to 97% with major Hornbach lease re-gear; industrial assets gain 5% while offices weaken.

Major risks include KPN’s 2026 departure (19% of rent) and a €14.2m French tax demand under appeal.

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