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LREIT retains high occupancy with long WALE in 1Q

Samantha Chiew
Samantha Chiew11/5/2021 6:11 PM GMT+08  • 3 min read
LREIT retains high occupancy with long WALE in 1Q
Lendlease report positive momentum in 1Q business update.
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Lendlease Global Commercial REIT (LREIT) has managed to keep its portfolio occupancy high at 99.8% as at Sept 30, according to its latest 1QFY2022 ended September business update.

Along with its high occupancy rate, the REIT has retained a long weighted average lease expiry (WALE) of 8.5 years by net leasable area (NLA) and 4.4 years by gross rental income (GRI). Within the first three months of FY2022, the REIT’s manager had substantially de-risked leases expiring for the year to 4% and 11% by NLA and GRI respectively.

During the quarter, LREIT had also completed the acquisition of an additional stake in Jem, increasing its exposure in the resilient suburban retail segment and is expected to bring stable income to LREIT’s unitholders.

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