Circular to Shareholders

Valuation of the Brisbane Markets site

The Board of Brisbane Markets Limited (BML) wishes to provide an update in relation to the recent valuation of the Brisbane Markets site and a number of other topical matters, so as to ensure that BML shareholders are fully informed.

  1. Site Valuation
    BML engaged Charter Keck Cramer Pty Ltd (CKC) to undertake an independent valuation of the Brisbane Markets site at 31 December 2020, and this work has recently been completed. This valuation by CKC will result in the Brisbane Markets property value being reported at $366.6 million at 31 December 2020, which represents an increase of $17.0 million over the value of BML’s investment property reported at 30 June 2020.
    The Statement of Financial Performance for the half-year ended 31 December 2020 will reflect an increase in the value of Investment Property of $14.46 million, and this item alone will contribute $10.12 million to net profit after tax for the period, or 18.6 cents per share.
    BML’s reported Total Assets at 31 December 2020 are expected to be in the range of $415 million to $417 million (compared to $395.0 million as at 30 June 2020), and the Net Assets are expected to be in the range of $202 million to $205 million (compared to $191.7 million as at 30 June 2020), representing net assets per share in the range of $3.70 to $3.76.
    The statements of financial performance and financial position for the half year ending 31 December 2020 are still being finalised, and remain subject to audit review, with the full details of the results of the company expected to be provided during the second half of February.
    No action is required at this point in time, this advice is for information only.
  2. COVID-19 Update
    BML is continuing to work with tenants and other Markets stakeholders in relation to managing the impact of and transmission risks relating to COVID-19. As an essential service, the Brisbane Produce Markets and other Markets related businesses continued operating through the recent lockdown, with additional risk management measures in place. BML will continue working with tenants and the State Government in relation to the ongoing response to the COVID-19 pandemic.
  3. BML Share Sales
    Late last year a significant parcel of shares was sold as a larger shareholder exited the share register. The seller of the shares engaged Morgans to facilitate the sale with approximately 8.5 million shares being sold at $3.51 per share. This transaction is now finalised with the shares being sold to multiple parties. BML now has just over 400 shareholders on its share register. Recent share sales in January 2021 have been in the range of $3.60 – $3.80 per share. For more information, please refer to the Investor page on BML’s website (

Andrew Young

For more information regarding this notice, please contact BML on (07) 3915 4200.


For more information on your investment in Brisbane Markets Limited, please call our Corporate Department on (07) 3915 4200 or email via the button below.