Link Reit sells four malls for HK$1.24b
The Link Real Estate Investment Trust has accepted buyers' offers totalling about HK$1.24 billion for four shopping centres.
The Link Real Estate Investment Trust has accepted buyers' offers totalling about HK$1.24 billion for four shopping centres.
Private tendering for the properties closed on May 15.
The disposals will be completed on July 31, Link Reit said in a stock exchange filing on Tuesday.
The complexes are Hing Tin Commercial Centre in Lam Tin, sold for HK$210 million; Kwai Hing Shopping Centre in Kwai Chung, sold for HK$438.84 million; the retail centre and car park at Tung Hei Court in Shau Kei Wan, sold for HK$72.9 million; and the Wah Kwai Shopping Centre in Pokfulam, sold for HK$518 million.
Link expects to record a gain of about HK$331.7 million. However, as the amounts involved are not large, the reit said it expects the financial impact to be limited.
It also does not expect the disposals to result in a material change in the reit's gearing, which stood at about 11.6 per cent at the end of September.