Shareholders in Brisbane Markets Limited (BML) would be aware that the company currently owns 41.73% of the issued share capital of Perth Markets Group Limited (PMGL). PMGL has advised its shareholders, including BML, that a property valuation has recently been completed in respect of all of the property directly owned by PMGL at the Perth Markets Site, and that the market valuation of that property has increased from $189 million as at 30 June 2021, to $250 million as at 30 June 2022.
This is an increase to PMGL of $61 million from the previously recorded market valuation at 30 June 2021. BML will record our investment in PMGL in accordance with equity accounting principles. The increased PMGL property valuation is expected to contribute approximately $12.4 million to the net assets of BML.
BML has not yet finalised the valuation of its Brisbane Markets property, and is not yet in a position to provide any further information in relation to the 2022 financial year. Shareholders should note that BML is continuing to work through the impact of the 2022 floods and will keep shareholders informed in that regard.
Managing Director and CEO
For more information regarding this notice, please contact BML on (07) 3915 4200.