Our Harmony Property Investments team recently held its annual investor presentation at U City Function Centre in Adelaide, with the event theme focusing on “savvy investing in turbulent times”. We were delighted to be joined by guest speaker @traceymcnaughton Chief Investment Officer of @escalapartners, who provided interesting and up to date macro insights into the broader economy focusing on the current climate as well as what we might see moving forward.
National Portfolio Manager, @carololsen summarised the past 12 months performance of the Harmony Portfolio, which included the sale of $350 million worth of property, returning investors an average equity increase of 230% together with an average Internal Rate of Return across the existing portfolio of 14.2% as at 30 June 2022. Whilst a strong period for HPI, Carol commented; “Harmony are very proud of the results we have been able to achieve over the past 12-24 months, however capital values will be under pressure in the time ahead as a result of increased cost of debt and we should be anticipating a lower return environment for property returns moving forward”.
A panel session closed out the evening’s proceedings, facilitated by @lloydioannou, and with a four strong panel including Tracey and Carol, ably joined by @caingurney, HPI Acquisition Manager and @michaelrouvray, Director MRS Property Advisory. The panel took a deep dive into how businesses and tenants have and are dealing with the current economic climate, what lies ahead for commercial property and some tips on investing in the turbulent times we are currently faced with.
Although there is uncertainty in the economy generally, the consensus from all the panellists was there will be opportunities ahead, which aligns with Harmony’s approach to potential acquisitions at present, which is that we are ready to go when the right opportunity arises!
The formal presentation was followed by an opportunity to enjoy a drink with our growing investor network.
The HPI team thanks our investors for their on-going support and joining us for the evening, to U City for their hospitality and the wider HPI team for their help and efforts in setting up and actioning the event, with specific thanks to @annasarandis, @kellyrundle and @saraprior for their fantastic work leading up to and during the event.
If you’d like to know more about our Harmony Property Investments division, call us on (08) 8297 2400.
Photographs by Andre Castellucci.