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At 31 March 2023, the portfolio occupancy price of Daylight REIT stood at 92.1% (31 December 2022: 92.5%). Workplace and retail occupancy charges have been 91.5% and 93.3% respectively, as in comparison with 92.2% and 93.1% at 31 December 2022.
The general passing lease of Daylight REIT’s portfolio was HK$45.2 per sq. ft. at 31 March 2023, largely unchanged from the corresponding determine 1 / 4 in the past. Benefitting from the first rate leasing demand for Grade B workplace properties specializing in service trades, the workplace portfolio registered a light rental reversion of two.1% for the quarter below evaluate. Whereas a damaging rental reversion of two.3% was recorded for the retail portfolio, the momentum of downward adjustment was clearly decelerating, reflecting the gradual restoration of the retail sector in tandem with the elimination of social distancing restrictions.
In respect of the efficiency of key workplace properties, occupancy price of Dah Sing Monetary Centre was 87.1% at 31 March 2023, with a passing lease of HK$41.7 per sq. ft.. In the meantime, Strand 50 skilled a drop in occupancy price to 89.6% because the Supervisor determined to restructure the lease with a co-working area operator. On the Kowloon aspect, capitalizing on the enhancing client sentiment, occupancy price of The Harvest rebounded to a passable stage of 95.7%.
On the retail entrance, occupancy charges of Sheung Shui Centre Buying Arcade and Metro Metropolis Part I Property have been 91.8% and 92.5% at 31 March 2023 respectively, whereas their corresponding passing rents have been HK$98.5 per sq. ft. and HK$55.0 per sq. ft..
Remarks: Hooked up operational statistics of Daylight REIT for the third quarter of the monetary yr 2022/23.
Operational statistics for the third quarter of the monetary yr 2022/23
| Property | Location | Occupancy Charge (%) 1 |
Passing Hire (HK$/sq. ft.) 2 | ||
| at 31 Mar 23 | at 31 Dec 22 | at 31 Mar 23 | at 31 Dec 22 | ||
| Workplace | |||||
| Dah Sing Monetary Centre | Wan Chai | 87.1 | 88.5 | 41.7 | 41.6 |
| Strand 50 | Sheung Wan | 89.6 | 92.3 | 30.6 | 32.3 |
| 135 Bonham Strand Commerce Centre Property | Sheung Wan | 100.0 | 99.4 | 26.6 | 26.7 |
| The Harvest | Mong Kok | 95.7 | 91.4 | 41.2 | 41.0 |
| Winsome Home Property | Central | 91.5 | 88.8 | 40.1 | 39.9 |
| Righteous Centre | Mong Kok | 99.3 | 100.0 | 35.1 | 34.9 |
| 235 Wing Lok Road Commerce Centre | Sheung Wan | 94.1 | 94.5 | 19.7 | 19.7 |
| Java Highway 108 Business Centre | North Level | 98.1 | 96.1 | 24.6 | 24.8 |
| On Loong Business Constructing | Wan Chai | 100.0 | 100.0 | 27.8 | 27.2 |
| Solar Fai Business Centre Property | Mong Kok | 98.5 | 97.1 | 21.3 | 21.4 |
| Wai Ching Business Constructing Property | Yau Ma Tei | 91.7 | 97.2 | 17.0 | 17.0 |
| Common | 91.5 | 92.2 | 34.5 | 34.7 | |
| Retail | |||||
| Sheung Shui Centre Buying Arcade | Sheung Shui | 91.8 | 91.7 | 98.5 | 98.4 |
| Metro Metropolis Part I Property | Tseung Kwan O | 92.5 | 91.9 | 55.0 | 54.6 |
| Kwong Wah Plaza Property | Yuen Lengthy | 97.0 | 97.8 | 53.8 | 52.1 |
| Supernova Stand Property | North Level | 100.0 | 100.0 | 57.3 | 57.2 |
| Beverley Business Centre Property | Tsim Sha Tsui | 100.0 | 100.0 | 29.6 | 29.6 |
| Common | 93.3 | 93.1 | 67.6 | 67.1 | |
| Common | 92.1 | 92.5 | 45.2 | 45.0 | |
Notes :
- Calculated on the premise of occupied gross rentable space (“GRA“) as a proportion of complete GRA on the related date.
- Calculated on the premise of common lease per sq. ft. for occupied GRA on the related date.
Disclaimer: The data contained on this press launch doesn’t represent a proposal or invitation to promote or the solicitation of a proposal or invitation to buy or subscribe for models in Daylight REIT in Hong Kong or some other jurisdiction.
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The issuer is solely chargeable for the content material of this announcement.
Daylight REIT
Listed on The Inventory Trade of Hong Kong Restricted since 21 December 2006, Daylight REIT (inventory code: 435) is an actual property funding belief approved by the Securities and Futures Fee, and constituted by the amended and restated belief deed dated 10 Might 2021 (the “Belief Deed”). It gives traders the chance to put money into a diversified portfolio of 11 workplace and 6 retail properties in Hong Kong with a complete gross rentable space of roughly 1.3 million sq. ft.. The workplace properties are situated in each core and decentralized enterprise areas, whereas the retail properties are located in regional transportation hubs, new cities and concrete areas with excessive inhabitants density.
The Supervisor
The Supervisor of Daylight REIT is an oblique wholly-owned subsidiary of Henderson Land Growth Firm Restricted. Its important accountability is to handle Daylight REIT and all of its property in accordance with the Belief Deed within the sole curiosity of its unitholders.
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