Australia’s Challenger Diversified Property Group forecasts fall in earnings

Challenger Diversified Property Group has forecast a fall in earnings per share this financial year, while it sells assets and redevelops projects.

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Business Park-related highlights:

Challenger has increased its asset base with the $34 million, 20,200-square metre, stage 2 development for Bunzl Australasia at The Junction Industrial Park in Enfield in Sydney’s inner west.

Bunzl, a specialist distribution and global supply chain management group, has taken a 10-year lease, which analysts said would provide Challenger with a consistent revenue stream.

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