Strategic Moves by Waypoint REIT (ASX:WPR) Support Continued Growth

April 07, 2025 06:09 PM PDT | By Team Kalkine Media

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Strategic Moves by Waypoint REIT (ASX:WPR) Support Continued Growth — Image source: shutterstock

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Highlights

Waypoint REIT anticipates minimal financial impact from store transformations.

Partnership with Viva Energy (VEA) evolves with new store conversions.

$50 million share buyback program launched to enhance shareholder value.

In a recent update, Waypoint REIT (ASX:WPR), a prominent real estate investment trust, provided insights into its strategic operations for the upcoming year, particularly in relation to its collaboration with Viva Energy (ASX:VEA). As part of a significant transformation program initiated by Viva Energy, Waypoint REIT discussed the financial implications of converting certain properties within its portfolio.

Earlier this year, Viva Energy unveiled plans to expand its "On The Run" convenience store network. The expansion aims to include 40 to 60 newly converted stores by the end of 2025. These conversions will be implemented across Viva Energy's existing Express network locations. In response, Waypoint REIT, serving as the landlord for numerous Viva Energy sites, has agreed to allow planning applications for 14 properties under this initiative.

During the update, Waypoint clarified its financial commitment towards these transformations. Despite ongoing discussions about the extent of landlord funding for the site conversions, Waypoint REIT signaled that it does not foresee a significant financial outlay for these changes in the current financial year. This is based on the anticipated number of property conversions and the nature of these transformations.

Furthermore, Waypoint REIT has demonstrated its commitment to enhancing shareholder value through the initiation of an on-market buyback program. The program targets the repurchase of approximately $50 million worth of its shares. This strategic move is expected to not only bolster shareholder returns but also reflect the company's confidence in its financial health and long-term growth prospects.

The collaboration between Waypoint REIT and Viva Energy is set to foster both entities' expansion and efficiency strategies without imposing substantial financial burdens on Waypoint. This careful management of resources highlights Waypoint's strategic approach to growth and investment, ensuring they remain a resilient player in the real estate investment sector.

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