SUNLIGHT REAL ESTATE INVESTMENT TRUST The Securities and Futures Commission of Hong Kong, Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.
Sunlight Real Estate Investment Trust
(a Hong Kong collective investment scheme authorized under section 104 of the Securities and Futures Ordinance
(Chapter 571 of the Laws of Hong Kong))
(Stock Code : 435)
Managed by
Henderson Sunlight Asset Management Limited
恒 基 陽 光 資 產 管 理 有 限 公 司
OPERATIONAL STATISTICS OF
SUNLIGHT REAL ESTATE INVESTMENT TRUST
FOR THE QUARTER ENDED 30 SEPTEMBER 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$118.4 per sq. ft.. Meanwhile, both MCPI and Kwong Wah Plaza Property recorded reasonable passing rent improvement during the quarter under review.
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Operational statistics for the first quarter of the financial year 2019/20
Property | Location |
Office | |
Sunlight Tower | Wan Chai |
Strand 503 | Sheung Wan |
The Harvest | Mong Kok |
135 Bonham Strand Trade Centre | Sheung Wan |
Property | |
Winsome House Property | Central |
Righteous Centre | Mong Kok |
235 Wing Lok Street Trade Centre | Sheung Wan |
Java Road 108 Commercial Centre | North Point |
On Loong Commercial Building | Wan Chai |
Sun Fai Commercial Centre Property | Mong Kok |
Wai Ching Commercial Building | Yau Ma Tei |
Property |
Occupancy Rate (%) 1 | Passing Rent (HK$/sq. ft.) 2 | ||
at 30 Sep 19 | at 30 Jun 19 | at 30 Sep 19 | at 30 Jun 19 |
100.0 | 98.2 | 39.7 | 39.6 |
78.8 | 68.44 | 34.0 | 31.8 |
91.3 | 96.4 | 52.5 | 51.2 |
98.0 | 100.0 | 30.0 | 29.4 |
100.0 | 100.0 | 45.5 | 43.8 |
100.0 | 100.0 | 36.6 | 36.3 |
94.9 | 93.8 | 22.6 | 22.6 |
96.1 | 96.1 | 26.6 | 26.4 |
100.0 | 100.0 | 32.1 | 31.6 |
96.5 | 100.0 | 23.4 | 22.7 |
100.0 | 97.2 | 16.9 | 16.1 |
Average | 95.9 | 94.0 | 36.0 | 35.5 | |
Retail | |||||
Sheung Shui Centre Shopping Arcade | Sheung Shui | 97.7 | 98.1 | 118.4 | 118.4 |
Metro City Phase I Property | Tseung Kwan O | 94.1 | 98.9 | 59.7 | 57.5 |
Kwong Wah Plaza Property | Yuen Long | 100.0 | 100.0 | 54.8 | 54.3 |
Beverley Commercial Centre Property | Tsim Sha Tsui | 75.4 | 62.9 | 45.0 | 45.6 |
Supernova Stand Property | North Point | 100.0 | 100.0 | 54.5 | 54.5 |
Average | 95.9 | 98.1 | 77.3 | 75.8 | |
Average | 95.9 | 95.3 | 49.1 | 48.6 | |
Notes :
- Calculated on the basis of occupied gross rentable area ("GRA") as a proportion of total GRA on the relevant date.
- Calculated on the basis of average rent per sq. ft. for occupied GRA on the relevant date.
- The property was previously known as Bonham Trade Centre.
- Excluding the renovated area, the occupancy rate would have been 95.4%.
By order of the Board
HENDERSON SUNLIGHT ASSET MANAGEMENT LIMITED
恒基陽光資產管理有限公司
(as manager of Sunlight Real Estate Investment Trust)
CHUNG Siu Wah
Company Secretary
Hong Kong, 17 October 2019
At the date of this announcement, the board of directors of the Manager comprises : (1) Chairman
and Non-executive Director : Mr. AU Siu Kee, Alexander; (2) Chief Executive Officer and Executive
Director : Mr. WU Shiu Kee, Keith; (3) Non-executive Director : Mr. KWOK Ping Ho; and
- Independent Non-executive Directors : Mr. KWAN Kai Cheong, Dr. TSE Kwok Sang and Mr. KWOK Tun Ho, Chester.
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Sunlight Real Estate Investment Trust published this content on 17 October 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 October 2019 09:13:12 UTC
