Higher Turnover Rent Lifts Champion REIT's Solid Second-Half Result
Stronger-than-expected turnover rent at Langham Mall and higher rental revision at 3 Garden Road underpinned Champion REIT’s solid second-half result. Distribution of HKD 0.2617 was largely in line with our forecast. The result does not alter our view on the trust. Our fair value estimate is increased slightly to HKD 4.80 from HKD 4.60. While the performance was better than expected and we continue to see the two properties as high quality, we believe the upside is priced into the current unit p...Champion Real Estate Investment Trust and its subsidiaries are engaged in owning and investing in income-producing commercial properties in Hong Kong with the objective of producing stable and sustainable distributions to unitholders and to achieve long term growth in the net asset value per unit.
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