Wetex Parade & Classic Hotel | Print this page |
Wetex Parade and Classic Hotel is an integrated retail development located within the commercial district of Muar, Johor. Wetex Parade 
is the leading department-store anchored shopping centre in town and serves as the premier retail destination for the Muar area.
Classic Hotel, which is partially situated on top of Wetex Parade is one of the leading hotels in Muar and is fully managed by Wetex Realty Sdn Bhd, which has been operating the hotel over the past decade. Hektar REIT has secured a 10-year net lease with the operator as part of the terms of the acquisition in May 2008.
Wetex Parade is undergoing selective tenant remixing as part of Hektar’s efforts to continuously improve the centre offerings to maintain Wetex Parade as the leading shopping centre in Muar.
| Location | 69 Jalan Ali, |
| Title | Freehold |
| Primary Trade Area | 154,000 within 10km radius |
| Gross Floor Area | 281,590 sq ft |
| Net Lettable Area | 167,362 sq ft |
| Car Park | 177 |
| Valuation | RM120.0 million |
| Tenants | 82* |
| Key Tenants | The Store, McDonald’s, Watson’s |
| Occupancy | 90.1% |
| Visitor Traffic | 5.6 million |
| Year Opened | 1996 |
| Year Acquired by REIT | 2008 |
| Year Refurbished | Currently in Phases |
Data as of 31 December 2009. * Only NLA Lots
Wetex Parade's Top Ten Tenants by Rental Income
| Tenant | Trade Sector | NLA (sq ft) | % of Total NLA |
% of Monthly Rental Income* |
|
|---|---|---|---|---|---|
| 1 | The Store | Department Store | 91,357 | 54.6% | 29.1% |
| 2 | Watsons | Others | 2,027 | 1.2% | 4.6% |
| 3 | Silverho | Gifts/Books/Toys/Stationery | 3,178 | 1.9% | 3.1% |
| 4 | McDonald's | Food & Beverage | 2,489 | 1.5% | 2.8% |
| 5 | AD Jeans | Fashion & Footwear | 2,110 | 1.3% | 2.5% |
| 6 | Tangjongmas Bookstore | Gifts/Books/Toys/Stationery | 4,136 | 2.5% | 2.3% |
| 7 | Bata | Fashion & Footwear | 1,240 | 0.7% | 1.8% |
| 8 | Pao Sing | Others | 1,023 | 0.6% | 1.7% |
| 9 | Fitness Concept | Others | 1,159 | 0.7% | 1.6% |
| 10 | B. Workshop Fashion | Fashion & Footwear | 1,260 | 0.8% | 1.5% |
| Top 10 Tenants (By Monthly Rental Income) |
109,979 | 65.7% | 51.0% | ||
| Other Tenants | 57,383 | 34.3% | 49.0% | ||
| Total | 167,362 | 100.0% | 100.0% | ||
* Based on monthly rental income for December 2009.
Wetex Parade's Expiry Profile
| For Year Ending 31 December |
No. of Tenancies Expiring |
NLA of Tenancies Expiring (sq ft) |
NLA of Tenancies Expiring as % of Total NLA |
% of Total Monthly Rental Income* |
|---|---|---|---|---|
| FY 2010 | 17 | 12,728 | 8% | 13% |
| FY 2011 | 18 | 103,858 | 62% | 51% |
| FY 2012 | 42 | 29,637 | 18% | 39% |
| FY 2013 | 0 | - | 0% | 0% |
* Based on monthly rental income for December 2009.
