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, situated on top of Wetex Parade is one of the leading hotels in Muar. 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 was recognised by the International Council of Shopping Centers (ICSC) with a Gold Award for Marketing Excellence at the 2010 ICSC Asia Awards.
| Location |
69 Jalan Ali, Off Jalan Sulaiman 84000 Muar, Johor MALAYSIA |
| Title | Freehold |
| Primary Trade Area | 154,000 within 10km radius |
| Gross Floor Area | 281,590 sq ft |
| Net Lettable Area | 162,016 sq ft |
| Car Park | 177 |
| Valuation | RM120.0 million |
| Tenants* | 90 |
| Key Tenants | The Store, McDonald’s, Watson’s |
| Occupancy | 95.6% |
| Visitor Traffic | 5.5 million |
| Year Opened | 1996 |
| Year Acquired by REIT | 2008 |
| Year Refurbished | Currently in Phases |
Data as of 31 December 2010. * Only NLA Lots
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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 | 56.4% | 26.8% |
| 2 | Watson's | Others | 2,027 | 1.3% | 4.3% |
| 3 | Silverho | Gifts/Specialty | 3,178 | 2.0% | 2.9% |
| 4 | McDonald's | Food & Beverage | 2,489 | 1.5% | 2.5% |
| 5 | Tangjongmas Bookstore | Gifts/Specialty | 4,037 | 2.5% | 2.5% |
| 6 | AD Jeans | Fashion & Footwear | 2,110 | 1.3% | 2.6% |
| 7 | Workshop | Fashion & Footwear | 1,880 | 1.2% | 2.2% |
| 8 | Fabiano Ricco / Ecco | Fashion & Footwear | 1,292 | 0.8% | 1.9% |
| 9 | Bata | Fashion & Footwear | 1,240 | 0.8% | 1.7% |
| 10 | Pao Sing | Others | 1,023 | 0.6% | 1.6% |
| Top 10 Tenants (By Monthly Rental Income) |
110,633 | 68.4% | 48.7% | ||
| Other Tenants | 51,383 | 31.6% | 51.3% | ||
| Total | 162,016 | 100.0% | 100.0% | ||
* Based on monthly rental income for December 2010.
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 2011 | 19 | 104,149 | 64% | 47% |
| FY 2012 | 55 | 32,692 | 20% | 37% |
| FY 2013 | 16 | 13,357 | 8% | 11% |
* Based on monthly rental income for December 2010.