The property business gearing was 26% at the end of July 2024, well below the 60% covenant. The trust’s interest cover ratio was 1.9 times at the end of January 2024, versus a covenant of 1.5 times.
The developer behind Project Crossroads is not disclosed in City Council records. The proposed project site is at the interchange of interstates 77 and 40. Other notable industrial developments in the ...