LREIT’s portfolio committed occupancy remained high at 99.9% with a long weighted average lease expiry of 8.2 years by net lettable area and 5.5 years by gross rental income.
Lendlease Global Commercial REIT has reported a distribution per unit of 2.25 cents for 2HFY2023 ended June, down 8.2% y-o-y from 2HFY2022's 2.45 cents, no thanks to higher borrowing costs. This brings the full-year DPU to 4.7 cents, down 3.2% over FY2022.
Net property income for whole of FY2023 was up 2 times to $153.9 million, while gross revenue was up similarly to $204.9 million, thanks to contribution from newly acquired interests in Jem as well as higher rental reversion.
