(i)    Hing Man Commercial Centre
(ii)   Kam Ying Court Shopping Centre
(iii)  Po Tin Shopping Centre
(iv)  Retail and Car Park within Mei Chung Court
(v)   Retail and Car Park within Po Nga Court
(vi)  Retail and Car Park within Yan Shing Court
(vii) Tin Ma Court Commercial Centre

The aggregate consideration for the seven properties offered by the winning bidders amounts to HK$1.962 billion, which exceeds their total appraised value as at March 2015 by 33%. The selling price for each of the seven properties represents a premium ranging from 21% to 81% over the relevant appraised values.

George Hongchoy, Chief Executive Officer of Link Asset Management said, “We are delighted with the strong response to the tender despite the concerns on market outlook. We have received a large number of bids from a number of investors.”

“The tender attracted a broad range of interested parties including listed companies, local private investors, investors of mainland Chinese background, with a large number of offers received for these properties. Of the five buyers for the seven properties, four are first-time successful bidders, who did not participate or win any bid at previous tenders for Link REIT’s properties.” added George.

Disposal is part of Link REIT’s capital recycling strategy to create value for its unitholders. Link, as a responsible manager, continues to review the portfolio for opportunities to streamline and improve operating efficiency.

Proceeds will be used for general working capital purposes including debt repayment and, where appropriate, unit buy-back. Completion of the disposals shall take place on 31 May 2016.

Link Asset Management will communicate with tenants, nearby residents and other stakeholders to keep them informed on matters relating to the transfer of ownership of the seven properties.