HONG KONG
SAR - Media
OutReach - 20 April 2021 - 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 2020/21.
At 31 March 2021, the
occupancy rate of Sunlight REIT's portfolio was 92.7% as compared to 91.5% at
31 December 2020. Office occupancy rate increased to 91.2% (31 December 2020:
90.1%), while retail occupancy rate also exhibited a mild improvement to 96.0%
(31 December 2020: 94.5%), principally led by new letting activities at Metro
City Phase I Property ("MCPI").
The overall passing
rent of Sunlight REIT's portfolio was HK$48.1 per sq. ft. at 31 March 2021 (31
December 2020: HK$48.7 per sq. ft.). During the quarter under review, the
office and retail portfolios registered negative rental reversions of 4.1% and 14.9%
respectively, reflecting the still difficult business environment due to
COVID-19.
In respect of the
office portfolio, Dah Sing Financial Centre (previously known as Sunlight
Tower) registered a steady occupancy rate of 88.5% at 31 March 2021 with a
negative rental reversion of 1.5% for the quarter. Meanwhile, higher occupancy
rates at the office properties in Sheung Wan/Central had been witnessed,
illustrating the gradual recovery in demand for inexpensive spaces from local
small-to-medium enterprises.
On the retail front,
occupancy rates of Sheung Shui Centre Shopping Arcade ("SSC") and MCPI
were 93.4% and 96.7% respectively. The passing rent of SSC recorded a 2.0%
quarter on quarter decline to HK$103.5 per sq. ft., mainly reflecting lower committed
rents for certain fashion and jewellery tenants, the performance of which were
heavily impacted by the absence of tourists' spending. On the other hand, MCPI maintained
a relatively stable passing rent of HK$56.8 per sq. ft..
Remarks: Attached operational statistics of Sunlight REIT
for the third quarter of the financial year 2020/21.
Operational statistics for the third quarter of the financial
year 2020/21
Property
|
Location
|
Occupancy Rate (%) 1
|
Passing Rent (HK$/sq. ft.) 2
|
|
|
at 31 Mar 21
|
at 31 Dec 20
|
at 31 Mar 21
|
at 31 Dec 20
|
Office
|
|
|
|
|
|
Dah
Sing Financial Centre3
|
Wan
Chai
|
88.5
|
88.8
|
44.7
|
44.9
|
Strand
50
|
Sheung
Wan
|
91.3
|
87.2
|
32.8
|
33.2
|
The
Harvest
|
Mong
Kok
|
100.0
|
100.0
|
53.1
|
53.3
|
135
Bonham Strand Trade Centre Property
|
Sheung
Wan
|
89.0
|
87.3
|
28.7
|
29.3
|
Winsome
House Property
|
Central
|
88.6
|
85.8
|
44.9
|
45.5
|
Righteous
Centre
|
Mong
Kok
|
98.5
|
99.3
|
33.9
|
34.4
|
235 Wing
Lok Street Trade Centre
|
Sheung
Wan
|
88.6
|
86.8
|
21.1
|
21.3
|
Java
Road 108 Commercial Centre
|
North
Point
|
96.1
|
96.1
|
25.3
|
25.4
|
On Loong
Commercial Building
|
Wan
Chai
|
98.0
|
96.0
|
31.7
|
32.0
|
Sun Fai
Commercial Centre Property
|
Mong
Kok
|
100.0
|
93.1
|
22.0
|
23.0
|
Wai
Ching Commercial Building Property
|
Yau
Ma Tei
|
94.5
|
94.5
|
17.6
|
17.6
|
Average
|
|
91.2
|
90.1
|
37.4
|
37.8
|
|
|
|
|
|
|
Retail
|
|
|
|
|
|
Sheung
Shui Centre Shopping Arcade
|
Sheung
Shui
|
93.4
|
92.9
|
103.5
|
105.6
|
Metro
City Phase I Property
|
Tseung
Kwan O
|
96.7
|
94.3
|
56.8
|
57.3
|
Kwong
Wah Plaza Property
|
Yuen
Long
|
100.0
|
99.3
|
53.6
|
53.4
|
Beverley
Commercial Centre Property
|
Tsim
Sha Tsui
|
81.9
|
80.3
|
34.0
|
34.5
|
Supernova
Stand Property
|
North
Point
|
100.0
|
100.0
|
57.2
|
54.5
|
Average
|
|
96.0
|
94.5
|
70.0
|
71.0
|
Average
|
|
92.7
|
91.5
|
48.1
|
48.7
|
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
Sunlight Tower.
The issuer is solely responsible for the content of this announcement.