Link REIT (“Link”; Hong Kong stock code: 823), Asia’s largest real estate investment trust, today completed the disposal of 17 properties to a consortium led by Gaw Capital Partners (Gaw). Following the deal completion, the 17 properties will be managed by Gaw.
In view of the premium achieved on the disposals, Link carried out a review of the valuation of its portfolio as at 31 December 2017. According to the principal valuer’s report, the value of Link’s investment properties as at 31 December 2017 was HK$198,925 million which represents an increase of 13.9% as compared with the valuation of HK$174,653 million as at 30 September 2017 (excluding, for the purposes of the comparison, the 17 disposed properties).
Following the disposal of the 17 properties, Link has about 91.2% of its assets in Hong Kong and 8.8% in Mainland China.
Proceeds of the sale will be used for new investment opportunities in Hong Kong and first-tier cities in mainland China, in addition to general working capital purposes including debt repayment and, where appropriate, unit buy-backs.
The 17 properties disposed of are:
|Cheung Hang Shopping Centre||Lions Rise Mall|
|H.A.N.D.S (Yau Oi Commercial Centre & On Ting Commercial Complex)||Kwai Fong Plaza|
|Kai Yip Commercial Centre||Kwai Shing East Shopping Centre|
|Kam Tai Shopping Centre||Lai Kok Shopping Centre|
|Lei Cheng Uk Shopping Centre||Lee On Shopping Centre|
|Shek Lei Shopping Centre||Shun Tin Estate Retail and Car Park|
|Tai Wo Hau Commercial Centre||Tsing Yi Shopping Centre|
|Tsz Ching Shopping Centre||Yung Shing Shopping Centre|