Viva Industrial Trust achieves 6.3% DPS growth as vacancy fears over Jackson Square eases

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Viva Industrial Trust has announced a distribution per stapled security (DPS) of 1.861 Singapore cents for its 2Q 2017, an increase of 6.3% year-on-year from the 1.75 cents achieved in the corresponding period of 2016.

Gross revenue and net property income for for the quarter grew by 18.0% and 17.5% to SGD27.6 million and SGD20.2 million respectively.

The trust has attributed the quarter’s figures mainly to higher revenue contribution from Viva Business Park, and additional rental contributions from 6 Chin Bee Avenue, and 30 Pioneer Road, which were acquired in January 2017 and April 2016, respectively.

Viva Industrial Trust’s Jackson Square property also saw occupancy of 89% as at end of 2Q 2017, as vacancy concerns are mitigated by Jackson International’s subsidiaries who now occupy 24% of the total gross floor area, in addition to providing security deposits of SGD1.7 million.

Read: OCBC adjusts estimate on Viva Industrial Trust after settlement agreement

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Ridzwan Rahmat has been analysing Singapore-listed REITs and business trusts, since 2008. For disclosure purposes, Ridzwan is currently vested in Mapletree Greater China Commercial Trust, Mapletree Industrial REIT and Mapletree Logistics Trust.

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