Sunlight Real Estate Investment Trust
Sunlight Real Estate Investment Trust (‘Sunlight REIT’) Operational Statistics for the Quarter Ended 30 September 2017
Sunlight Real Estate Investment Trust (“Sunlight REIT”) Hong Kong, 12 October 2017 ( 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 ended 30 June 2018 (“FY2017/18“). At 30 September 2017, the overall portfolio occupancy of Sunlight REIT was 97.0%, compared with 96.9% recorded at 30 June 2017. Office occupancy decreased marginally to 96.9% (30 June 2017: 97.3%), while occupancy of the retail portfolio increased to 97.1% (30 June 2017: 96.2%) mainly attributable to improvement in the occupancy of Sheung Shui Centre Shopping Arcade (“SSC“). Passing rent of the overall portfolio was HK$45.5 per sq. ft. at 30 September 2017, representing an increase of 1.3% from HK$44.9 per sq. ft. at 30 June 2017. Rental reversion, calculated on the basis of leases that have been renewed and commenced during the quarter, were 10.3% and 8.5% for the office and retail portfolio respectively. During the quarter, Sunlight Tower reported a rental reversion of 12.0% with a passing rent increase of 2.2% quarter on quarter. With regard to occupancy of the Sheung Wan/Central portfolio, the decline at Bonham Trade Centre as compared with the previous quarter was mainly due to the clustering of a few non-renewal cases. For Winsome House Property which had experienced a longer than expected period of double-digit vacancy, the prospect of occupancy rebound is good given the likelihood of new lease commitments in the coming months. On the retail front, Metro City Phase I Property continued to steal the limelight, reporting a decent rental reversion of 14.1% and a 1.5% rise in passing rent from the previous quarter. Meanwhile, reflecting a more sanguine retail sentiment, SSC made reasonable headway during the quarter, as demonstrated by its improved level of occupancy of 94.1% and a rental reversion of 5.1%. – End –
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); its responsibility is to manage Sunlight REIT in the sole interest of the unitholders in accordance with the Trust Deed. Disclaimer: Document: http://n.eqs.com/c/fncls.ssp?u=ACEGDYUHIB Document title: Sunlight REIT FY2017-18 Q1 Operational Statistics_press release
12/10/2017 Dissemination of a Financial Press Release, transmitted by EQS Group. |