- May 9, 2022
- Posted by: AliensFaith
- Category: OBJECTIVE PRESS
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LENDLEASE GLOBAL COMMERCIAL REIT (SGX:JYEU)
Lendlease Global Commercial REIT – Reopening Tailwinds To Lift Tenant Sales
- No financials provided in this operational update. Portfolio occupancy was stable at 99.9%.
- 313@Somerset delivered positive reversions for the third consecutive quarter, but tenant sales, which are at 90% of pre-pandemic levels, dipped 3.3% y-o-y due to dine-in cap of five pax in 3Q22 (3Q21: 8 pax).
- Acquisition of remaining stake in JEM was completed on 22 April 2022. We understand that reversions have been positive and tenant sales are at 110% of pre-pandemic levels.
