Soilbuild Reit Q1 DPU at 1.562 cents

SOILBUILD Business Space Reit posted a distribution per unit (DPU) of 1.562 cents for its first quarter ended March 31, 2014, 6.1 per cent higher than forecast in its prospectus.

This translates to an adjusted annualised distribution yield of 7.7 per cent.

The Reit, which listed in August last year, recorded a gross revenue of $16.8 million (3.9 per cent above forecast). This included $400,000 received from a tenant in Westpark Biz Central that had requested to pre-terminate its lease. The vacated space was taken over by an existing tenant to fulfil its expansion plans.