Starhill Global Reit is keeping the base rent unchanged for the Toshin master lease at Ngee Ann City for the next three years starting from June 8, 2019, under its latest rent review, the real estate investment trust’s (Reit) manager announced on Saturday in a bourse filing. Toshin is the master tenant occupying all retail areas except level five of Ngee Ann City for the 12-year period from June 8,...
Starhill Global Reit
Starhill Global Reit (SGREIT) secured greater visibility over the long-term outlook for two Kuala Lumpur malls after inking fresh master tenancy agreements for the Malaysian properties. In a Singapore Exchange filing on Monday night, the Reit's manager said that it had entered into new conditional agreements for the Starhill Gallery and Lot 10 malls in Bukit Bintang with the current master tenant,...
Starhill Global REIT (SGREIT), owner of the Wisma Atria shopping mall in Orchard road, on Tuesday reported a 3.8 per cent increase in second quarter distribution per unit to 1.08 cents, from 1.04 cents a year earlier. Net property income for the three-month period rose 4.4 per cent to S$37.1 million. Revenue for the period ended June increased 4.8 per cent to S$46.4 million, up from S$44.2 million in the...
Starhill Global REIT will be filing an appeal against the High Court's decision to dismiss its application to declare that the rent review mechanism in its lease agreement with Toshin is "not operable". Toshin is the property arm of Japan-based retailer Takashimaya. Starhill has a 27.23 per cent stake in Ngee Ann City. Under a lease agreement, Toshin is the master tenant occupying the retail areas from...
Starhill Global REIT (SGR) has reported a distribution per unit (DPU) of 1.04 cent for the second quarter ended June 30. This is 14.3 per cent higher compared to the 0.91 cent it achieved for the previous corresponding period. Income to be distributed to unitholders in the quarter was S$20.2 million, 14.3 per cent higher than the S$17.7 million in the second quarter of 2010. Starhill also recorded net...
Starhill Global REIT said on Wednesday that its distribution per unit (DPU) for the fourth quarter improved by 7.2 per cent. It announced a DPU of 1.04 cents, up from the 0.97 cents declared in the year-ago period. Distributable income rose by 7.6 per cent on-year to $20.2 million, while net property income was up 37 per cent on-year to $36.7 million. Starhill said the improvement in net property income...
Starhill Global REIT on Tuesday said that its distribution per unit (DPU) for the third quarter improved by 5.3 per cent. It announced a DPU of 1 cent, up from the 0.95 cent declared in the year-ago period. Distributable income rose by 5.8 per cent on-year to S$19.4 million, while net property income was up by 37 per cent on-year to S$35.8 million. Starhill said the improvement in net property income is...
Starhill Global REIT has reported a second quarter distribution per unit of 0.91 cent. This was 4.2 per cent lower than the restated 0.95 cent recorded in the previous corresponding period. Starhill's distributable income for the second quarter fell 3.6 per cent to S$17.7 million. Its net property income rose 6.9 per cent to S$28.9 million. Starhill said the increase was mainly due to its newly...
Real estate investment trust Starhill Global said its restated first quarter distribution per unit or DPU rose 2.2 per cent to 0.95 cents for the period ended March 31. This is 2.2 per cent higher compared to 0.93 cents achieved for the previous corresponding period. Net distributable income for the period fell 1.8 per cent to S$18.7 million from S$19 million a year ago. However, net property income saw...
YTL Pacific Star, the manager of Starhill Global REIT, said it is buying two properties in the Malaysian capital Kuala Lumpur for a total of S$450 million. The two properties are the Starhill Gallery and Lot 10 Shopping Centre along KL's main shopping street, Jalan Bukit Bintang. Starhill Gallery will be acquired for about S$275 million and Lot 10 will be bought for S$175.2 million. The acquisitions...