Centuria Industrial REIT Delivers Strong Q1 with Tesla Lease and Upgraded Guidance

Centuria Industrial REIT (ASX: CIP) delivered a strong start to FY26, highlighted by a 10-year lease agreement with Tesla at its Derrimut, Victoria property — securing a 133% re-lease spread and deferring redevelopment plans. The REIT also advanced plans for a 40MW data centre project in Clayton, Victoria, adjacent to the existing Telstra facility.

CIP divested 42 Hoepner Road, Bundamba (Qld) for AU$11.8 million, achieving a 10% premium to book value, and repurchased 7.1 million units worth AU$24.7 million under its on-market buy-back. In September 2025, CIP issued AU$325 million in exchangeable notes, strengthening its capital position. CIP upgraded its FY26 FFO guidance to 18.2–18.5 cents per unit and reaffirmed its 16.8-cent distribution target, underscoring robust leasing performance and growing exposure to data and logistics infrastructure.

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