Sunday, 25 April 2010
Successful leasing transactions of 1.3 million sq ft undertaken for the quarter include new leases and renewals and have supported the increase in portfolio occupancy rate to 93%. These leasing transactions represent over 16% of the portfolio’s gross lettable area and secured HK$85 million of net rental income per annum, providing further stability and income growth.Mr Philip Pearce, Goodman’s Managing Director, Greater China said, “Enquiry for space during the first quarter has continued to improve. With renewed confidence and positive outlook for the industrial property market, existing customers are expanding their operations and require additional space. During the first quarter, new leases signed by existing customers accounted for 17% or 223,000 sq ft of total leasing transactions indicating the strength of Goodman’s customer service model.”
“Our active asset management has not only helped us to retain customers, but the improved quality of our buildings has also attracted six new customers to the portfolio,” Mr Pearce added.A major local retail department store operator has signed a lease at Tsuen Wan International Centre in Tsuen Wan for 69,700 sq ft while another FMCG enterprise will move into the 25,600 sq ft premises at Wo Kee Hong Building in Kwai Chung.
“Industrial space in port areas such as Tsuen Wan and Kwai Chung is highly sought after as prime location supply is very limited. During the quarter, leasing transactions in the port area accounted for approximately 70% of all leases committed in our portfolio. This give us confidence that our latest development, Interlink in Tsing Yi, which is well located in the prime port area will continue to attract interest from the market,” Mr Pearce concluded.
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