General Property Trust

Property group GPT will add the $621 million Highpoint shopping centre in Melbourne's west to its retail portfolio as it seeks to diversify its assets. The group is also still considering an $800 million joint venture hotel fund together with Babcock and Brown which has purchased the Sofitel Wentworth hotel in Sydney for $150 million. GPT has forecast distributions to rise to 27.5c per security in 2006, from 24.4c last year.