AIMS AMP Capital Industrial REIT:Reduces Lease Expiry Risk And Improves Rental Returns
07.05.2012
AIMS AMP Capital Industrial REIT announced it has successfully extended 55 percent of 27 Penjuru Lane's underlying leases out to FY2016 and FY2018, once the asset's master lease expires in FY2013. The newly secured sub-tenancy agreements at 27 Penjuru Lane will generate rental returns which are on a weighted average 7.5 percent higher than the current the master lease terms, reflecting management's ability to achieve positive rental reversion. Management is currently in negotiations to renew the underlying leases in the remaining 45 percent of the 90,506 sqm net lettable area of 27 Penjuru Lane, once the master lease expires... Source: Shareinvestor.com (5 July 2012)
