- Keppel REIT has entered into an agreement to acquire a 75% effective interest in Top Ryde City Shopping Centre, a freehold regional mall in Sydney, Australia, for A$393.8m (S$334.8m) or A$6,813psm.
- - Read this at SGinvestors.io -
Focus on non-discretionary spending.
- Top Ryde City Shopping Centre is a high-quality, freehold regional mall located in Sydney’s City of Ryde, an area noted for above-average household income and population growth. The mall features a large lettable area of 77,054 sqm and is anchored by major non-discretionary tenants such as ALDI, Coles, Woolworths, and Kmart, which contribute to 77% of its gross rental income. It is anchored by six supermarket tenants. Other notable tenants include Australia Post, Priceline Pharmacy, KFC, Subway and Westpac.
- - Read this at SGinvestors.io -
Regional malls in Australia enjoy the lowest vacancy rates among retail formats at 2.1% in 2024, highlighting their stability.
- Read more at SGinvestors.io.
