Sunlight Real Estate Investment Trust Operational Statistics for the Quarter Ended 30 September 2019

  • Bagikan
Sunlight REIT

HONG KONG, CHINA – Media OutReach – 17 October 2019 – Henderson Sunlight Asset Management Limited (the ” Manager“), as manager of Sunlight Real Estate Investment Trust (” Sunlight REIT “), announces the operational statistics of Sunlight REIT for the first quarter of the financial year 2019/20.

At 30 September 2019, the average occupancy rate of the overall portfolio of Sunlight REIT was 95.9% (30 June 2019: 95.3%). Office occupancy rate improved to 95.9% (30 June 2019: 94.0%), mainly attributable to the partial handover of the new co-working space at Strand 50. On the other hand, retail occupancy rate declined to 95.9% as compared with 98.1% at 30 June 2019, principally reflecting a trade mix reshuffling exercise at Metro City Phase I Property (” MCPI“).

Passing rent of the overall portfolio was HK$49.1 per sq. ft. at 30 September 2019, representing a quarterly increase of 1.0%. Rental reversions for the office and retail portfolios, calculated on the basis of change in effective rent of the leases that have been renewed and commenced during the quarter, were 13.3% and 9.1% respectively.

On the office front, Sunlight Tower was fully let as passing rent improved 0.3% quarter on quarter. The Sheung Wan/Central office portfolio performed well with an average passing rent increase of 3.8%.

Regarding the retail portfolio, Sheung Shui Centre Shopping Arcade recorded an occupancy rate of 97.7% with passing rent unchanged at HK$118.4 per sq. ft.. Meanwhile, both MCPI and Kwong Wah Plaza Property recorded reasonable passing rent improvement during the quarter under review.

Remarks: Attached operational statistics of Sunlight REIT for the first quarter of the financial year 2019/20.

Operational statistics for the first quarter of the financial year 2019/20

PropertyLocation

Occupancy Rate (%) 1

Passing Rent (HK$/sq. ft.) 2

  

at 30 Sep 19

at 30 Jun 19

at 30 Sep 19

at 30 Jun 19

Office 

 

 

 

 

Sunlight TowerWan Chai100.098.239.739.6
Strand 503Sheung Wan78.868.4434.031.8
The HarvestMong Kok91.396.452.551.2
135 Bonham Strand Trade Centre PropertySheung Wan98.0100.030.029.4
Winsome House PropertyCentral100.0100.045.543.8
Righteous CentreMong Kok100.0100.036.636.3
235 Wing Lok Street Trade CentreSheung Wan94.993.822.622.6
Java Road 108 Commercial CentreNorth Point96.196.126.626.4
On Loong Commercial BuildingWan Chai100.0100.032.131.6
Sun Fai Commercial Centre PropertyMong Kok96.5100.023.422.7
Wai Ching Commercial Building PropertyYau Ma Tei100.097.216.916.1
Average 95.994.036.035.5
      
Retail     
Sheung Shui Centre Shopping ArcadeSheung Shui97.798.1118.4118.4
Metro City Phase I PropertyTseung Kwan O94.198.959.757.5
Kwong Wah Plaza PropertyYuen Long100.0100.054.854.3
Beverley Commercial Centre PropertyTsim Sha Tsui75.462.945.045.6
Supernova Stand PropertyNorth Point100.0100.054.554.5
Average 95.998.177.375.8
Average 95.995.349.148.6

Notes:

1.         Calculated on the basis of occupied gross rentable area (” GRA“) as a proportion of total GRA on the relevant date.

2.         Calculated on the basis of average rent per sq. ft. for occupied GRA on the relevant date.

3.         The property was previously known as Bonham Trade Centre.

4.         Excluding the renovated area, the occupancy rate would have been 95.4%.

  • Bagikan