- Occupancy is moderate at 94.3%.
- WALE is short at 3.2 years where the highest lease expiry of 22.1 % falls in 2023.
- Weighted average land lease expiry is short at 45.89 years.
- Gearing is moderate at 38.9%.
- Cost of debt is high at 3.12%.
Basic Profile & Key Statistics
Soilbuild Business Space REIT (SBREIT) invests in business parks and industrial properties. SBREIT currently owns 13 properties in Singapore and Australia.
Performance Review
Gross revenue and NPI increased YoY by 5.4% and 10.1% respectively due to contribution from 25 Grenfell Street and higher revenue from West Park BizCentral.
Distributable income and DPU increased by 30.2% and 29.1% respectively, partly due to the inclusion of withheld distribution from Australia properties.
Rental reversion is at a negative 14.4% for 4Q 2020. However, for FY2020, the rental reversion is at a negative 2%.
Lease Profile
