Link REIT puts On Yam up for tender

Link Real Estate Investment Trust has announced it intends to dispose of five properties, including On Yam Shopping Centre, by tender.
The other properties are the Cheung Hong, Shek Wai Kok, Sui Wo Court and Sun Tin Wai Commercial Centres.
Savills (Hong Kong) and DTZ Cushman & Wakefield have been appointed as sole agents for the sale, with tenders closing on December 15.
Depending on the response of potential purchasers, the board may decide not to dispose of individual or even all properties, the trust advises. An announcement will be made if and when any tender is accepted and a binding agreement is entered into for the disposal of any one or more of the properties.
As at March 31, the aggregate valuation of the properties was about HK$2743 million (US$  million), accounting for about 1.68 per cent of Link’s total gross asset value.

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