ALE Property Group | REIT Profile

Symbol: LEP
Exchange: ASX
Founded: 2003 (21 years)
HQ: Sydney, NSW, Australia
Type of REIT: Equity REIT
Listing Status: Public
Market Capitalization: Small-Cap
REIT Sector: Specialty

See LEP on Yahoo Finance

ALE started life as an ASX listed entity in November 2003 following the divestment by Foster's Group of its pub property portfolio. All the properties are leased to ALH (a 75% subsidiary of Woolworths Limited) for terms averaging around 13 years plus options for ALH to extend for up to a further 40 years. As at 30 June 2015, ALE is Australia's largest listed freehold owner of pubs with 86 properties across Australia's five mainland capital cities. Some of the iconic properties include the Breakfast Creek Hotel (Brisbane), the Crows Nest Hotel (Sydney) and the Young & Jackson (Melbourne). The pubs in ALE's portfolio have been successfully operating at their current locations for an average 60+ years. ALE has consistently focused on opportunities to add value for its 5,000+ securityholders through proactive asset and capital management. Over the past 12 years ALE's market capitalisation has grown from around $90 million to more than $700 million at 30 June 2015. This has delivered a compound annual return of around 22%. ALE has consistently outperformed other AREITs.