Lendlease Global Commercial REIT - UOB Kay Hian 2024-05-08: Makes Progress In Backfilling Building 3 & Locking In Lower Costs

• Lendlease REIT achieved strong positive rental reversion of 20% for 313@Somerset and more than 10% for Jem in 3QFY24. Occupancy for its retail properties was stable at 99.4%. Rents for the office block at Jem could be adjusted higher by 20% during a rent review at end-24.
• - Read this at SGinvestors.io -

Resilient domestic consumption drives positive rental reversion in Singapore.

• Lendlease Global Commercial REIT (SGX:JYEU)T’s retail portfolio achieved positive rental reversion of 15.3% on an average vs average basis in 3QFY24 (313@Somerset: 20%, Jem: >10%). It maintained a high committed occupancy of 99.4% (313@Somerset: 98.7%, Jem: 99.7%) and healthy tenant retention of 86.2%.
• - Read this at SGinvestors.io -

Upside from higher office rents at Jem.

• The lease with the Ministry of National Development, which fully occupies the office block at Jem, is scheduled for a rent review at end-24. Management sees potential for rents to be adjusted higher by 20% compared with levels five years ago.

Proactively pursuing cost containment and improving cost efficiency.

• Read more at SGinvestors.io.

Above is an excerpt from a report by UOB Kay Hian Research.
Clients of UOB Kay Hian may be the first to access the full PDF report @ https://www.utrade.com.sg/.

Read also UOB's most recent report:
2025-02-07 Lendlease Global Commercial REIT 1HFY25 - Resilient Contributions From Singapore; Upside From Office Block At Jem.

Previous report by UOB:
2024-11-13 Lendlease Global Commercial REIT 1QFY25 - Resiliency From Singapore; Progressively Backfilling Building 3 In Milan.

Price targets by 2 other brokers at Lendlease REIT Target Prices.

Listing of research reports at Lendlease REIT Analyst Reports.

Relevant links:
Lendlease REIT Share Price History,
Lendlease REIT Announcements,
Lendlease REIT Dividend Payout Dates & Corporate Actions,
Lendlease REIT News