- We are positive on Starhill Global REIT (SGX:P40U)’s Toshin master lease extension by a minimum period of 12 years (staring Jun 2025), and one that provides income certainty with upside potential.
- - Read this at SGinvestors.io -
- Valuation is attractive at >30% discount to book value with tourist spend recovery as a key catalyst.
Favourable extension of Toshin master leases
- Favourable extension of Toshin master leases, Starhill Global REIT's largest tenant (~24% of portfolio gross rent).
- The new master lease will commence immediately at the end of the current term on 8 Jun 2025 and will expire on 7 Jun 2037, with an option for either party to renew for six years, and thereafter, at the option of Toshin for further three years.
- - Read this at SGinvestors.io -
- shall be based on average market rental values determined by three valuers but not exceeding 125% of option A.
Profit sharing agreement
- Read more at SGinvestors.io.
