29 Apr '16, 5pm

Ho Bee Land – Q1 FY16 Results Review: Ho Bee announced their first quarter results recently for FY16, so I thought… https://t.co/XqJDFKxkcH

Ho Bee announced their first quarter results recently for FY16 , so I thought of covering a few thoughts here. The company reported a 19.9% increase in the rental income year on year from $31m to $37m due to contributions from the 3 new acquisitions in London in the 2nd half of 2015 – mainly 39 Victoria Street, 110 Park Street and Apollo / Lunar House at Croydon. With exception to 110 Park Street which are currently let out at an occupancy of 82% due to some upgrading works, the rest are all operationally fully occupied. These properties are currently yielding a cap rate of around 4.5% and 5.35% respectively but with debt this looks much higher. These rents are also expected to be highly reversionary once they entered the re-negotiate agreement spectrum. When I bought the shares of the company, one of the main lookout is …

Full article: http://thefinance.sg/2016/04/29/ho-bee-land-q1-fy16-resul...

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