Retail Asset Acquisition in Shenzhen at Reasonable Price for Link
Link REIT announced the acquisition of Central Walk, a retail mall in Shenzhen, for CNY 6.6 billion. This is the company’s fifth acquisition in China. The acquisition price represents a gross yield of 5.6%, based on a passing rent of CNY 23.8 million in recent months. The net property income yield based on 2017 results was 3.6%. We believe the acquisition price is reasonable, given potential scope for asset enhancement. The company’s shares have risen sharply during the past month as the interes...Link Real Estate Investment Trust is a collective investment scheme constituted as a unit trust that invests primarily in retail and carpark operations.
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