The Link Real Estate Investment Trust (00823) said it has disposed of four shopping mall properties including Hing Tin, Kwai Hing, Tung Hei and Wah Kwai for a total of about HK$1.24 billion.
Each of Tung Hei, Hing Tin, Wah Kwai and Kwai Hing property has been sold for HK$72.9 million, HK$210 million, HK$518 million and HK$438.84 million.
A gain of about HK$331.7 million is expected to result from the disposals which, however, would also lead to a slightly lower net property income and distribution beginning from the financial year ending 31 March 2015.
Notwithstanding a total number of 13 tenders were received in respect of the Po Hei Court Commercial Centre during the tender period, Link REIT decided to withdraw the Po Hei Court Commercial Centre from the private tender for sale as the prices tendered by interested tenderers did not reach a level considered sufficiently attractive to fully reflect the growth potential of the Po Hei Court Commercial Centre.
21/05/2014 09:06
Link REIT (00823) sells four properties for HK$1.24bn
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