BHG Retail REIT posts strong occupancy rate in Q3
BHG Retail REIT reported a strong 94.2% committed occupancy rate in Q3 across six properties valued at $860 million. The Beijing Wanliu Mall led with a 96.8% occupancy rate. The weighted average lease expiry is 4.4 years, ensuring stable rental income. Food and beverage tenants contributed 30.8% to gross rental income. Despite a gradual recovery in China's retail sector, ongoing challenges may limit near-term profit growth, with a focus on debt management and portfolio resilience.
It saw a 94.2% committed occupancy rate during the period.
BHG Retail REIT posted A 94.2% occupancy rate across six properties, valued at $860m (RM4.73b), in the third quarter.
Beijing Wanliu Mall, which has a net lettable area of 52,515 square metres, accounted for more than half of the total valuation. With 96.8% occupancy rate, it led among multi-tenanted properties, Chengdu Konggang (95%), Hefei Mengchenglu (90.7%),, Hefei Changjiangxilu (83%).
Master-leased properties Xining Huayuan and Dalian Jinsanjiao are both fully occupied.
The weighted average lease expiry was 4.4 years, underpinning stable rental income and cash flow.
Food and beverage tenants contributed 30.8% of gross rental income, whilst education and leisure tenants accounted for 24.7%.
The manager said this tenant diversification supports occupancy and recurring income, though associated capital expenditure may limit near-term profit growth.
China’s retail and income indicators point to a gradual recovery, though the manager cited ongoing headwinds and modest consumption growth. Profit attributable to unitholders is expected to remain stable, with focus on debt management and portfolio resilience.
