Real-estate investment trust Link Reit has completed the disposal of 17 properties to a consortium led by Gaw Capital Partners.
Because of the premium achieved on the disposals, Link reviewed the valuation of its portfolio as at the end of December. According to the principal valuer, the value of Link’s investment properties was HK$198.9 billion, an increase of 13.9 per cent over the September 30 valuation.
Following the disposal of the 17 properties, Link has 91.2 per cent of its assets in Hong Kong and 8.8 per cent in Mainland China. Proceeds from the sale will be used for investment in Hong Kong and first-tier cities in China, as well as general working capital purposes including debt repayment and, where appropriate, unit buy-backs.
The 17 properties are: Cheung Hang Shopping Centre, Hands (Yau Oi Commercial Centre/On Ting Commercial Complex), Kai Yip Commercial Centre, Kam Tai Shopping Centre, Kwai Fong Plaza, Kwai Shing East Shopping Centre, Lai Kok Shopping Centre, Lee On Shopping Centre, Lei Cheng Uk Shopping Centre, Lions Rise Mall, Shek Lei Shopping Centre, Shun Tin Estate Retail, Tai Wo Hau Commercial Centre, Tsing Yi Shopping Centre, Tsz Ching Shopping Centre and Yung Shing Shopping Centre.