This is one piece of news that disappoints investors of Starhill Global REIT. As highlighted in my previous post (Starhill Global REIT High Dividend Yield Can Buy?), Ngee Ann City Property Retail (Singapore) expires 2025 with a 5.5% increase in base rent from 8 June 2016. The rent review is this month June 2019. Toshin is the master tenant occupying all the retail areas except level five of the Ngee Ann City Property (as hereinafter defined) for the period of 12 years from 8 June 2013.
The manager of Starhill Global REIT has announced that the new base rent will remain the same as the current rent. This will remain 3 years from 8 June 2019. As at 31 March 2019, the Toshin Master Lease contributed to approximately 21.9% of Starhill Global REIT’s portfolio gross rent. Perhaps due to the weak retail sentiments, my opinion is that Starhill Global REIT
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