Source: Media Outreach
HONG KONG SAR – Media OutReach – 20 April 2022 – 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 third quarter of the financial year 2021/22.At 31 March 2022, the occupancy rate of Sunlight REIT’s portfolio exhibited a mild improvement to 95.0% (31 December 2021: 94.5%). Office occupancy rate increased from 93.3% at 31 December 2021 to 94.3%, while retail occupancy rate dropped slightly to 96.6% (31 December 2021: 97.1%).The overall passing rent of Sunlight REIT’s portfolio was HK$45.8 per sq. ft. at 31 March 2022 (31 December 2021: HK$46.1 per sq. ft.). Reflecting the still challenging business environment, the office and retail portfolio registered negative rental reversions of 7.6% and 7.0% respectively for the quarter under review.At 31 March 2022, Dah Sing Financial Centre registered a steady occupancy rate of 91.4% with a passing rent of HK$42.9 per sq. ft.. Meanwhile, Strand 50 continued to benefit from the successful transformation into a top-notch Grade B office building in Sheung Wan, registering an improvement in occupancy rate to 97.7% with a passing rent of HK$32.3 per sq. ft.. On the Kowloon side, occupancy rate of The Harvest rebounded to 80.4% after the move-in of new beauty parlours; however, given the prolonged pandemic situation, the rent void period for its vacant areas would be longer than previously anticipated.On the retail front, Sheung Shui Centre Shopping Arcade (“SSC”) and Metro City Phase I Property recorded occupancy rates of 94.8% and 98.0% at 31 March 2022 respectively, while their corresponding passing rents were HK$100.2 per sq. ft. and HK$55.1 per sq. ft.. However, the vacancy rate of SSC is expected to rise in light of the departure of a kindergarten tenant which currently takes up approximately 7.5% of its gross rentable area.Remarks: Attached operational statistics of Sunlight REIT for the third quarter of the financial year 2021/22.Operational statistics for the third quarter of the financial year 2021/22 Property
Location
Occupancy Rate (%) 1
Passing Rent (HK$/sq. ft.) 2
at 31 Mar 22
at 31 Dec 21
at 31 Mar 22
at 31 Dec 21
Office
Dah Sing Financial Centre
Wan Chai
91.4
91.6
42.9
43.0
Strand 50
Sheung Wan
97.7
94.1
32.3
32.2
The Harvest
Mong Kok
80.4
66.4
37.2
36.3
135 Bonham Strand Trade Centre Property
Sheung Wan
96.8
94.7
27.3
27.5
Winsome House Property
Central
100.0
100.0
39.6
39.5
Righteous Centre
Mong Kok
100.0
100.0
34.4
34.2
235 Wing Lok Street Trade Centre
Sheung Wan
92.3
95.6
20.0
20.2
Java Road 108 Commercial Centre
North Point
100.0
100.0
25.0
25.1
On Loong Commercial Building
Wan Chai
100.0
100.0
27.6
30.3
Sun Fai Commercial Centre Property
Mong Kok
100.0
100.0
21.5
21.4
Wai Ching Commercial Building Property
Yau Ma Tei
100.0
97.2
17.2
17.3
Average
94.3
93.3
35.3
35.4
Retail
Sheung Shui Centre Shopping Arcade
Sheung Shui
94.8
94.6
100.2
100.8
Metro City Phase I Property
Tseung Kwan O
98.0
99.3
55.1
55.2
Kwong Wah Plaza Property
Yuen Long
97.0
97.0
52.2
53.6
Beverley Commercial Centre Property
Tsim Sha Tsui
82.5
82.5
30.8
30.8
Supernova Stand Property
North Point
100.0
100.0
57.2
57.2
Average
96.6
97.1
68.0
68.4
Average
95.0
94.5
45.8
46.1
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.The issuer is solely responsible for the content of this announcement. – Published and distributed with permission of Media-Outreach.com.
