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Sunlight Real Estate Investment Trust ('Sunlight REIT') Operational Statistics for the Quarter Ended 30 September 2018


Redaksi | Kamis,11 Oktober 2018 - 23:19:49 WIB
Dibaca: 147 kali 
Sunlight Real Estate Investment Trust ('Sunlight REIT') Operational Statistics for the Quarter Ended 30 September 2018

CHINA - Media OutReach - 11 October 2018 - Henderson Sunlight Asset Management Limited (the "Manager") is pleased to announce the operational statistics of Sunlight REIT for the first quarter of the financial year 2018/19.

At 30 September 2018, the overall portfolio occupancy of Sunlight REIT was 97.7% (30 June 2018: 98.2%). The slight decline was mainly attributable to the higher vacancy recorded at Bonham Trade Centre ("BTC") in preparation for the upcoming asset enhancement initiative.

Passing rent of the overall portfolio was HK$47.1 per sq. ft. at 30 September 2018, representing a quarterly increase of 1.3%. Office and retail rental reversions, calculated on the basis of change in effective rent of the leases that have been renewed and commenced during the quarter, were 9.6% and 9.4% respectively.

During the quarter, Sunlight Tower continued to benefit from the favourable leasing environment and brisk demand for decentralized office spaces, as illustrated by its occupancy rate of 99.5% and a rental reversion of 12.2%. On the retail front, solid consumer sentiment supported the performances of Sheung Shui Centre Shopping Arcade and Metro City Phase I Property. Both shopping malls were almost fully occupied and achieved rental reversions of 8.6% and 11.4% respectively.

In respect of the Grade B office portfolio, the enhancement plan of BTC which is in the final planning stage, will involve the renovation (and vacating) of approximately 28% of its gross rentable area. Meanwhile, Fung Shun Commercial Building maintained full occupancy during the quarter under review. However, its vacancy rate is expected to rise transiently given that the existing (sole) office tenant will vacate more than half of the occupied area.  As disclosed in Sunlight REIT's 2017/18 annual report, the Manager will capture this opportunity to execute minor facility upgrade and to diversify the trade profile of the property.

Remarks: Attached operational statistics of Sunlight REIT for the first quarter of the financial year 2018/19.

Operational statistics for the first quarter of the financial year 2018/19 

Property

Location

Occupancy (%) 1

Passing Rent (HK$/sq. ft.) 2

   

at 30 Sep 18

at 30 Jun 18

at 30 Sep 18

at 30 Jun 18

Office

         

Sunlight Tower

Wan Chai

99.5

98.5

38.6

38.2

Bonham Trade Centre

Sheung Wan

85.7

93.0

30.1

29.8

Fung Shun Commercial Building

Mong Kok

100.0

100.0

47.3

47.3

Winsome House Property

Central

97.1

100.0

43.1

42.8

135 Bonham Strand Trade Centre

Sheung Wan

98.5

100.0

28.2

27.6

  Property

         

Righteous Centre

Mong Kok

98.8

98.8

34.7

34.5

235 Wing Lok Street Trade Centre

Sheung Wan

98.9

96.0

22.0

21.7

Java Road 108 Commercial Centre

North Point

98.1

94.2

24.8

24.7

On Loong Commercial Building

Wan Chai

100.0

100.0

30.7

30.4

Sun Fai Commercial Centre Property

Mong Kok

100.0

100.0

21.6

21.6

Wai Ching Commercial Building

Yau Ma Tei

93.1

100.0

15.0

14.5

  Property

 

 

 

 

 

Average

 

97.2

97.8

34.2

33.8

           

Retail

         

Sheung Shui Centre Shopping Arcade

Sheung Shui

99.5

98.9

116.8

115.9

Metro City Phase I Property

Tseung Kwan O

99.5

99.8

56.3

55.8

Kwong Wah Plaza Property

Yuen Long

97.2

100.0

53.4

52.1

Beverley Commercial Centre Property

Tsim Sha Tsui

89.5

82.9

44.7

44.5

Supernova Stand Property

North Point

100.0

100.0

54.0

54.0

Average

 

98.9

99.2

74.6

73.9

Average

 

97.7

98.2

47.1

46.5

About Sunlight REIT
Sunlight REIT (Stock Code: 435) is a real estate investment trust authorized by the Securities and Futures Commission and constituted by the trust deed dated 26 May 2006 (as amended and supplemented by six supplemental deeds) (the "Trust Deed"), and has been listed on The Stock Exchange of Hong Kong Limited since 21 December 2006.

Sunlight REIT offers investors the opportunity to invest in a diversified portfolio of 11 office and five retail properties in Hong Kong with a total gross rentable area of approximately 1.2 million sq. ft.. The office properties are primarily located in core business areas, including Wan Chai and Sheung Wan/Central, as well as in decentralized business areas such as Mong Kok and North Point. The retail properties are primarily situated in regional transportation hubs and new towns including Sheung Shui, Tseung Kwan O and Yuen Long, as well as in urban areas with high population density.

About the Manager
The Manager of Sunlight REIT is an indirect wholly-owned subsidiary of Henderson Land Development Company Limited (恒基兆業地產有限公司) and is responsible for managing Sunlight REIT in accordance with the Trust Deed in the sole interest of the unitholders.

Disclaimer:
The information contained in this press release does not constitute an offer or invitation to sell or the solicitation of an offer or invitation to purchase or subscribe for units in Sunlight REIT in Hong Kong or any other jurisdiction.


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