ESR-REIT Delivers Steady Performance for 2Q2017

“Although challenging business conditions continue to bring about a slowdown in the industrial property market, we are establishing the foundation for ESR-REIT’s next stage of development by employing a proactive asset and lease management strategy and exercising a prudent capital and risk management approach to our business. In doing so, we remain committed towards unlocking value for our Unitholders and ensuring that we are well-positioned to capitalise on any market upside.”

Mr. Adrian Chui, CEO

  • Gross Revenue of S$27.7 million, Net Property Income of S$19.2 million and Distribution Per Unit of 0.956 cents
  • Continued focus on employing proactive asset and lease management and prudent capital and risk management
  • Leases due for renewal in FY2017 currently at only 14.8% of rental income
  • Further alignment with Sponsor e-Shang Redwood Limited with name change to ESR-REIT

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Soilbuild REIT’s 2Q FY2017 DPU grew 4.3% year-on-year

“We are pleased to deliver 2Q FY2017 DPU of 1.466 cents. Despite a soft industrial market, the leasing team has secured more than 110K sq ft of new leases and completed more than 200K sq ft of renewals and forward renewals in this quarter, raising portfolio occupancy to 92.6%. With 7.6% of the portfolio NLA expiring in the second half of 2017, the key asset management focus remains to retain existing tenants and improve occupancy in the multi-tenanted buildings and 72 Loyang Way. With the full utilisation of the security deposit received for 72 Loyang Way, the distributable income will be negatively impacted until the Manager finds a suitable replacement anchor tenant.”

Mr Roy Teo, CEO

  • 2Q & 1H FY2017 DPU was 1.466 cents and 2.955 cents respectively
  • Approximately 570K sq ft of renewals, forward renewals and new leases signed as at YTD 1H FY2017
  • Portfolio occupancy stands at 92.6%
  • S$200 million unsecured facility put in place for greater financial flexibility

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