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Kamis, 11 April 2019 23:40:00

Sunlight Real Estate Investment Trust ("Sunlight REIT") Operational Statistics for the Quarter Ended 31 March 2019

HONG KONG, CHINA, - 10 April 2019 - Henderson Sunlight Asset Management Limited (the "Manager"), as manager of Sunlight Real Estate Investment Trust ("Sunlight REIT"), is pleased to announce the operational statistics of Sunlight REIT for the third quarter of the financial year 2018/19.

At 31 March 2019, the overall portfolio occupancy of Sunlight REIT was 96.9%, compared with 96.7% recorded at 31 December 2018.  Office occupancy improved to 96.8% (31 December 2018: 95.7%), mainly attributable to a rebound in the occupancy of The Harvest.  Retail occupancy registered a slight decline to 97.2% (31 December 2018: 98.9%), largely due to the clustering of a handful of non-renewal cases at Metro City Phase I Property ("MCPI"). 

The overall passing rent of Sunlight REIT's portfolio was unchanged at HK$47.8 per sq. ft. at 31 March 2019, while office and retail rental reversions, calculated on the basis of change in effective rent of the leases that have been renewed and commenced during the quarter, were 12.4% and 10.8% respectively.

In respect of the office portfolio, Sunlight Tower was almost fully let with a satisfactory rental reversion of 12.9%.  Meanwhile, the revamping of Bonham Trade Centre has commenced in April 2019 and is expected to be completed (in two phases) by late 2019. 

On the retail front, stable consumption sentiment supported the performances of Sheung Shui Centre Shopping Arcade and MCPI, which recorded rental reversions of 11.5% and 7.0% respectively. (*).

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