Basic Profile & Key Statistics
SPH REIT invests in retail properties in Singapore and Australia and currently owns 5 properties. Its flagship property - Paragon has healthcare exposure which leases to medical clinics.
Performance Highlight
YTD gross revenue increased YoY by 22.2% due to recovery in performance for all properties and decrease in rental relief provided to eligible tenants
Besides Paragon which is still impacted by tourist arrivals, tenant sales for other properties have recovered very close to average 2019 monthly tenant sales.
Related Parties Shareholding
- REIT sponsor's shareholding is high at 65.41%
- REIT manager's shareholding is high at 3.3%
- Directors of REIT manager's shareholding is low at 0.03%
Lease Profile
- Occupancy is high at 98.4%
- WALE is short at 3 years
- Highest lease expiry within 5 years is moderate at 25% which falls in FY23
- Weighted average land lease expiry is long at 90.95 years
Debt Profile
- Gearing ratio is low at 30.4%
- Cost of debt is low at 1.86%
- Fixed rate debt % is low at 58%
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