As at 2020 Second Quarter Financial Results (14 Aug 2020)
Sasseur REIT is the first listed outlet mall REIT in Asia, listed on 28 Mar 2018. It has ownership/interest in 4 properties worth S$1.6 billion (RMB 8.2 billion) as at 30 Jun 2020.
| Gross rental income
(by sector) |
Percentage |
| Fashion |
39.7% |
| International Brands |
21.3% |
| Sports |
15.8% |
| Shoe Wear |
5.5% |
| Children |
5.3% |
| Miscellaneous |
5.2% |
| F&B |
3.2% |
| Ad-hoc Outlet |
2.2% |
| Kids Amusement Park |
1.0% |
| Anchor Tenants |
0.4% |
| Lifestyle |
0.3% |
| Gross rental income
(by geographical location) |
Percentage |
| China |
100% |
| Metrics |
2Q 2020 |
1Q 2020 |
| Gearing Ratio
(Aggregate Leverage) |
28.1% |
28.5% |
| Weighted Average Debt to Maturity
(Average Term to Maturity) |
2.23 years |
2.49 years |
| Average Cost of Debt (p.a.) |
4.17% |
4.34% |
| Occupancy Rate |
93.6% |
94.8% |
| Weighted Average Lease Expiry
(by GRI) |
0.8 years |
1.0 years |
| Top 10 tenants
(gross rental income) |
18.0% |
(as at
31 Dec 19) |
| Top tenant
(gross rental income) |
7.5% |
(as at
31 Dec 19) |
WALE is low, as REIT deliberates short leases to optimise tenant mix. In conventional retail malls, the typical lease terms are 5 to 10 years for anchor tenants and 1 to 3 years for other tenants. Sasseur REIT however has intentionally opted for a shorter lease to...
