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Link REIT Investment Properties Valuation at $218M for Q1

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Link Asset Management Limited, the manager of Link Real Estate Investment Trust recently revealed the final results of Link REIT for the financial year ended 31 March 2019. For the year under review, revenue and net property income increased by 7.2% and 7.1% year-on-year on a like-for-like basis, excluding any properties acquired, divested and/or newly operational during the year, after taking into account assets acquired, divested and/or newly operational, revenue and net property income increased by 0.1% and 0.3% year-on-year to $10,037 million (2018: $10,023 million) and $7,689 million (2018: $7,663 million) respectively.

According to a prepared release, valuation of the investment properties portfolio reached $218,496 million (2018: $203,091 million), representing an increase of 7.6% compared to 31 March 2018. NAV per unit increased 7.7% year-on-year to $89.48 (31 March 2018: $83.06).

Total distributable amount, after adjustments and a discretionary capital distribution of $53 million (2018: Nil), amounted to $5,723 million (2018: $5,431 million). DPU for the year increased by 8.6% to 271.17 cents (2018: 249.78 cents), comprising an interim DPU of 130.62 cents (2018: 121.50 cents) and a final DPU of 140.55 cents (2018: 128.28 cents) which includes 2.51 cents (2018: Nil) in discretionary distribution. Combining distribution and the increase in NAV per unit, Link REIT delivered a total book return per unit of 11% for the year.


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