Lendlease Reit says Covid-19 may cut rents at 313@somerset
Subdued retail sector and leasing demand may depress rents for both new and renewed leases
Singapore
THE manager of Lendlease Global Commercial Reit (LReit) on Tuesday noted that the subdued retail sector and leasing demand may potentially depress 313@somerset's rents during lease renewals and when entering into new leases.
"Leasing activities are expected to remain soft due to weak demand against Covid-19 headwinds," it said in a business update for LReit's first fiscal quarter ended Sept 30.
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