CapitaCommercial Trust reported a 4Q12 distributable income of S$58.3 million. This represent a rise of 7% from the same quarter last year, bringing CapitaCommercial Trusts's cumulative distributable income for Y2012 to S$228.5 million, a rise of 7.4%
Meanwhile DPU for 4Q12 increased by 2.05 cents, up 6.8% from 1.92 cents a year earlier. Gross revenue rose 8 per cent on year to S$97.1 million, while net property income climbed 10 per cent to S$75.2 million.
|CapitaCommercial Trust's growth in distributable income has been attributed to contributions from the HSBC Building and 20 Anson.|
According to OCBC, CapitaCommercial Trust's growth in distributable income was mainly due to higher contributions from HSBC Building and 20 Anson acquisitions. OCBC also added that portfolio occupancy for the trust remained at a stable 97.2% as of end 4Q12 and positive rental reversions are expected for the year 2013. Average rentals of remaining leases expiring in 2013 are set at S$7.48 psf which is significantly lower than the average Grade A levels of S$9.58 psf.