By Clyde Mooney

ALE Property Group has released its financial results for year ending June 30 2012, and is upbeat about its future prospects.

As landlord to 87 of the Woolworths-owned Australian Leisure & Hospitality (ALH) venues, ALE managing director Andrew Wilkinson said ALH has proven to be a very “proactive” tenant, spending $250 million on upgrades and additions to its hotels.

The report says distributable profit for ALE exceeded guidance (up 4.4 per cent), predominantly due to inflation-linked rental increases in November 2011. 

The company also reports that its property values were up by 1.7 per cent to $771.5 million, despite a sluggish national real estate market, and that it will be reviewing its hedging strategy to take advantage of historically low interest rates.

The Shout Team

The leading online news service for Australia's beer, wine, spirits and hospitality industries.

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