Victory Offices have now re-opened on the ASX market and their recent equity raising has positioned them to weather the situation that COVID-19 has caused the commercial real estate industry. According to Baxter, Victory forecasts an occupancy rate of 20% up to September, rising to 50% of “pre COVID-19 levels” by December and 80% by June 2021. Exceedingly promising statistics within 12 months for all invested both personally and financially with Victory Offices.
During this unprecedented period, it is crucial that companies deem it necessary to strengthen their balance sheets and liquidity position as the road to recovery will be long. These are a sign of the times and as more companies have their business operations severely disrupted due to ongoing COVID-19 government regulations, it won’t be surprising to see more trading halt and capital raising announcements on the ASX. Let’s just hope they all result in a positive outcome such as this one.
As business longevity and profit margins continue to be the talk of the town, flexible workspace providers are seeing a surge in demand, with small to large organisations utilising flexible workspaces to mitigate risk wherever possible.