GPT Group sees rise in logistics occupancy amid COVID-19-induced retail weakness

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Australia-listed REIT GPT Group is reaping benefits from a strategic decision to grow its logistics footprint.

The REIT has reported an overall improvement in the occupancy of its logistics properties, even as retail sales fell amid COVID-19 restrictions across the country.

Prior to the impact of the restrictions, the REIT saw positive momentum in retail sales with monthly combined specialty sales up 3% and 4.9% in January and February respectively on a year-on-year basis.

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