Blackwall Ltd (ASX:BWF) FY 2019 Results And Initiation Report
Blackwall Ltd (ASX:BWF) FY 2019 Results And Initiation Report
BlackWall Ltd (ASX:BWF) is the management company for BlackWall Property Trust (ASX:BWR) and various other private property syndicates. The company is a turnaround specialist, buying under-occupied or over-leveraged properties and improving their fortunes via capital restructuring, change of use or investment in fixtures and fittings. Management is long-term focused and seeks to exit an investment only when it can no longer grow rent, and the after tax return from a sale exceeds expected future income from continuing to hold. In addition to its asset management activities, BWF also owns WOTSO which provides flexible workspace mainly to sole traders and startups. The majority of BWR’s properties house a WOTSO operation and around half of all WOTSO operations are located in BWR premises. As you can see, the two entities are inextricably linked and so a proper analysis of BWF also requires an examination of BWR.
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