Lendlease Reit    Last:0.56    +0.01

Lendlease Global REIT

Cathay cinema at Jem to close as landlord seeks $4.3 million in rental arrears

 

 

GREAT WEEK AHEAD
 

dontbetray      ( Date: 22-Mar-2025 16:05) Posted:

 

 

Given Lendlease Global Reit&rsquo s current price-to-book ratio of 0.66 times, it could emerge as a potential privatisation candidate for its sponsor, or elicit third-party interest if its valuation persists at this level, said the analysts.

 

Renewed investor interest in Orchard Road malls a positive for S-Reits with prime central assets: DBS

Top picks are CapitaLand Integrated Commercial Trust and Lendlease Global Reit

&ldquo This yield remains superior to that of its peers, reinforcing CICT&rsquo s position as our top pick within the retail S-Reit space for central retail exposure,&rdquo they said.

Ion Orchard and Paragon deals could boost investment appeal 

The landmark sale of Ion Orchard&rsquo s stake and Paragon Reit&rsquo s privatisation offer signal that investor confidence in Singapore prime retail assets has reached new heights, they said.

The S$1.85 billion sale of a 50 per cent stake in Ion Orchard implies a S$5,928 per square foot (psf) price tag, which is unprecedented for a trophy retail mall and represents &ldquo top dollar for a top asset&rdquo , said Wong and Tan. 

They highlighted that the privatisation offer for Paragon Reit implies a price of around S$4,500 psf and a 5.2 per cent yield for its anchor asset Paragon mall. 

&ldquo The privatisation offer from Paragon Reit&rsquo s sponsor and managers, at S$0.98 per share in cash, values the Reit at around price-to-book ratio of around 1.07 times, in line with past privatisation or mergers and acquisitions offers in the Reit space,&rdquo they said.

&ldquo Should the privatisation offer go through, these two landmark deals will further consolidate ownership of Orchard Road malls, reinforcing their scarcity value and long-term investment appeal,&rdquo they added. 

Rental recovery could come soon as luxury spending makes comeback

While passing rents in Orchard Road are still currently around 4 per cent below pre-pandemic levels, rental recovery could be on the horizon, said the analysts. 

&ldquo We expect this rental gap to close soon, as central landlords are still experiencing strong reversionary momentum for central lease renewals&hellip on the back of a tight retail supply landscape along Orchard Road where luxury tenants are anchored in, and returning footfall and luxury spend,&rdquo Wong and Tan said. 

Potential buyers watching Orchard Road malls are looking out for a &ldquo clear turn&rdquo in prime retail rents, they added.

&ldquo The resurgence of luxury spending is key to sustaining growth in the S-Reits we cover that have around 40 per cent or more exposure to luxury Orchard Road malls.&rdquo

This is because luxury brands are the &ldquo heartbeat&rdquo of Orchard Road malls. Luxury malls such as Paragon mall derive more than 40 per cent of gross rental revenue from high-end luxury tenants. 

As investment interest soars back to new heights for Orchard Road malls, investors are adopting longer-term investment horizons and expecting a &ldquo full recovery&rdquo in tourist traffic, alongside improved local consumer sentiment to fuel luxury spending. 

And while consumer sentiment has yet to fully recover, the analysts think that price harmonisation by international luxury retailers, a weakened Singapore dollar drawing in tourists, and a return of regional consumer confidence &ldquo should strengthen Orchard Road&rsquo s position as a luxury shopping street in Asia&rdquo .

 

POTENTIAL PRIVATISATION!!!

 

Singapore Shares Snap Three-Day Losing Streak Vibrant Up 4%
13 Mar 2025
 

 

Why is it a good news?

 

Reverse gear 
Lendlease Global Commercial REIT to Redeem SG$200 Million Worth of Securities Shares Up 3%

 

I think 0.45 coming soon

 

Should heading towards to region of 0.40.

 

Parkway parrade is a wrong investment by Landlease !

 

Waiting for jeep
Shl be more pressure

 

The price at current div % is still good, though it may get better. If you are looking for passive income, it may be a good counter. Just be patient and wait to be convinced a turnaround happen. You may not catch the bottom, but at least can target to buy in a uptrend......

HB8289      ( Date: 04-Mar-2025 11:48) Posted: Look Like very weak /no  support  leroy55      ( Date: 24-Feb-2025 11:20) Posted: let hope he can turnaroun

 

Look Like very weak /no  support 

leroy55      ( Date: 24-Feb-2025 11:20) Posted: let hope he can turnaround Joelton      ( Date: 12-Feb-2025 12:16) Posted: Lendlease Global Commercial Reit appoints Guy Alexander Cawthra as CEO He replaces Kelvin Chow, who is leaving to pursue other opportunities   LENDLEASE Global Commercial Real Estate Investment Trust : JYEU +0.98% (LReit) has appointed Guy Alexander Cawthra as its new chief executive, effective Apr 1.    He replaces Kelvin Chow, who has resigned &ldquo to pursue other opportunities&rdquo . Chow is the Reit&rsquo s first and only chief executive thus far, since the Reit was listed in 2019.   On Tuesday (Feb 11), LReit said Cawthra will be responsible for leading the Reit&rsquo s manager team and overseeing the Reit&rsquo s business, including investment, asset management and finance.   Since 2014, Cawthra has held various roles at the Reit&rsquo s sponsor, Lendlease Group. He is currently managing director for investment management (Asia) at Lendlease Group.   LReit said arrangements have been made for Cawthra to resign from Lendlease Group entities prior to his appointment as CEO.   On Feb 3, the manager of LReit reported that distribution per unit (DPU) for its first half ended Dec 31 fell 14.3 per cent to S$0.018, from S$0.021 in the corresponding period the year before.   This was driven by higher finance costs, lower net property income and an enlarged unit base.   Revenue was down 13.6 per cent at S$103.6 million for the half-year period, from S$119.9 million in the year-ago period.   NPI dropped 19.8 per cent on the year to S$74.9 million from S$93.4 million previously. Distributable income declined 11.8 per cent year on year to S$43.5 million, from S$49.3 million before.   LReit&rsquo s retail portfolio in Singapore includes Jem and 313@somerset.

 

let hope he can turnaround

Joelton      ( Date: 12-Feb-2025 12:16) Posted: Lendlease Global Commercial Reit appoints Guy Alexander Cawthra as CEO He replaces Kelvin Chow, who is leaving to pursue other opportunities   LENDLEASE Global Commercial Real Estate Investment Trust : JYEU +0.98% (LReit) has appointed Guy Alexander Cawthra as its new chief executive, effective Apr 1.    He replaces Kelvin Chow, who has resigned &ldquo to pursue other opportunities&rdquo . Chow is the Reit&rsquo s first and only chief executive thus far, since the Reit was listed in 2019.   On Tuesday (Feb 11), LReit said Cawthra will be responsible for leading the Reit&rsquo s manager team and overseeing the Reit&rsquo s business, including investment, asset management and finance.   Since 2014, Cawthra has held various roles at the Reit&rsquo s sponsor, Lendlease Group. He is currently managing director for investment management (Asia) at Lendlease Group.   LReit said arrangements have been made for Cawthra to resign from Lendlease Group entities prior to his appointment as CEO.   On Feb 3, the manager of LReit reported that distribution per unit (DPU) for its first half ended Dec 31 fell 14.3 per cent to S$0.018, from S$0.021 in the corresponding period the year before.   This was driven by higher finance costs, lower net property income and an enlarged unit base.   Revenue was down 13.6 per cent at S$103.6 million for the half-year period, from S$119.9 million in the year-ago period.   NPI dropped 19.8 per cent on the year to S$74.9 million from S$93.4 million previously. Distributable income declined 11.8 per cent year on year to S$43.5 million, from S$49.3 million before.   LReit&rsquo s retail portfolio in Singapore includes Jem and 313@somerset.

 

Lendlease Global Commercial REIT 1H DPU fell 14.3% YoY to SGD 1.8c due to higher finance costs and an enlarged unit base. Revenue remained stable, with near-full mall occupancy and strong rental reversions (+10.7% YTD). Portfolio occupancy rose to 92.3%, led by Sky Complex recovery...

Read More Here:  https://www.investor-one.com/editorial/26977-Analyst-Alert-Recommendation-And-Consensus-On-Lendlease-Reit-Singtel-Sembcorp-Ind-Genting-Sing

 

 

https://www.minichart.com.sg/2025/02/06/lendlease-global-commercial-reit-lreit-sp-1hfy25-performance-and-outlook/
 

Lendlease Global Commercial REIT (LREIT SP) &ndash 1HFY25 Performance and Outlook