Link Reit’s entry into Singapore via Mercatus deal looks to be well-judged
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A YIELD of 5 per cent on commercial properties that require active management sounds unexciting when the cut-off yield of the last six-month Singapore Treasury bill issuance of 2022 was 4.28 per cent. Still, Hong Kong-listed Link Real Estate Investment Trust (Link Reit) scored a good deal with its purchase of malls from Mercatus Co-operative for S$2.16 billion.
On Dec 28, 2022, Link Reit said it had agreed to buy the entire interest held by NTUC Enterprise’s real estate arm Mercatus in suburban malls Jurong Point and Swing By @ Thomson Plaza, which occupies Levels 1 and 3 of Thomson Plaza.
Located at the Boon Lay Bus Interchange and Boon Lay MRT station, Jurong Point has a net lettable area (NLA) of 720,000 square feet (sq ft).
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