The manager expects the net property income yield of its two properties to rise to over 7 per cent following rejuvenation works
AIMS Apac Reit (AA Reit) will focus on rejuvenating and enhancing assets within its portfolio which have “potential for enhancement” to drive long-term value for its stakeholders.
These could be properties where increasing the floor area, or improving the building specifications, can help to attract and retain higher quality corporate tenants, said Russell Ng, chief executive officer of the real estate investment trust’s (Reit) manager.
For instance, in 2019, the Reit upgraded the general amenities for Optus Centre, its industrial asset in Australia. This resulted in it securing a 12-year master lease extension with its largest tenant.
