Subang Parade
Subang Parade was the first ‘regional’ shopping centre in Selangor when it opened in 1988 and was once known as the “longest shopping centre in southeast Asia”.
Positioning strategy
Subang Parade’s positioning strategy is currently neighbourhood-focused with an emphasis on its primary trade area which provides the centre with a ‘captive’ customer base. The appeal of the shopping centre lies in its ability to provide value and convenience to its shoppers.
Property update
We welcomed the opening of Golden Screen Cinemas (GSC) at Subang Parade in early January 2022 subsequent to GSC’s successful acquisition of the MBO outlet in Subang Parade in 2021.
Meanwhile, 2021 also saw the entry of new retailers such as Eco Shop, Marina Nail Spa and Original Classic, in line with the tenancy rejuvenation plans for Subang Parade which would refresh its offerings of daily shopping, services, entertainment and F&B.
| Title | Freehold |
|---|---|
| Year opened | 1988 |
| Year acquired by Hektar REIT | 2006 |
| Year refurbished | 2006-2007 / 2019-2020 |
|
No. 5, Jalan SS 16/1, Subang Jaya 47500 Petaling Jaya Selangor |
Data as of 31 December 2021
| Primary trade area | 1,834,000 within 20 minutes drive time |
|---|---|
| Gross floor area | 1,169,038 square foot |
| Net lettable area | 523,487 square foot |
| Car park | 1,288 bays |
| Acquisition price | RM280.0 million |
| Valuation | RM423.0 million |
| Tenants | 89 (only NLA lots) |
| Occupancy | 82.5% |
| Visitor traffic | 4.0 million per annum |
- Parkson
- GSC
- Best Denki
- Celebrity Fitness
- Village Grocer
Top 10 tenants
| Tenant | Trade sector | NLA (sq ft) | % of total NLA | % of monthly rental income[2] | |
|---|---|---|---|---|---|
| Top 10 tenants (by monthly rental income) | 254,716 | 48.7% | 45.7% | ||
| Other tenants | 268,771 | 51.3% | 54.3% | ||
| Total | 523,487 | 100.0% | 100.0% | ||
| 1 | Parkson | Department Store/Supermarket | 140,620 | 26.9% | 22.0% |
| 2 | GSC | Leisure & Entertainment/Sports & Fitness | 30,258 | 5.8% | 4.0% |
| 3 | Best Denki | Electronics & IT | 20,930 | 4.0% | 3.6% |
| 4 | Celebrity Fitness | Leisure & Entertainment/Sports & Fitness | 21,646 | 4.1% | 3.1% |
| 5 | Village Grocer | Department Store/Supermarket | 26,375 | 5.0% | 3.0% |
| 6 | Nando's Chickenland | Food & Beverage/Food Court | 2,610 | 0.5% | 2.2% |
| 7 | Caring Pharmacy | Health & Beauty | 2,679 | 0.5% | 2.0% |
| 8 | Yamaha Music School & Showroom | Education/Service | 5,733 | 1.1% | 2.0% |
| 9 | Uncle Lim’s Café | Food & Beverage/Food Court | 2,500 | 0.5% | 1.9% |
| 10 | Optical 88 | Fashion & Footwear | 1,365 | 0.3% | 1.9% |
|
Parkson Department Store/Supermarket 140,620 square foot NLA 26.9% of total NLA 22.0% of monthly rental income[2] |
|
GSC Leisure & Entertainment/Sports & Fitness 30,258 square foot NLA 5.8% of total NLA 4.0% of monthly rental income[2] |
|
Best Denki Electronics & IT 20,930 square foot NLA 4.0% of total NLA 3.6% of monthly rental income[2] |
|
Celebrity Fitness Leisure & Entertainment/Sports & Fitness 21,646 square foot NLA 4.1% of total NLA 3.1% of monthly rental income[2] |
|
Village Grocer Department Store/Supermarket 26,375 square foot NLA 5.0% of total NLA 3.0% of monthly rental income[2] |
|
Nando's Chickenland Food & Beverage/Food Court 2,610 square foot NLA 0.5% of total NLA 2.2% of monthly rental income[2] |
|
Caring Pharmacy Health & Beauty 2,679 square foot NLA 0.5% of total NLA 2.0% of monthly rental income[2] |
|
Yamaha Music School & Showroom Education/Service 5,733 square foot NLA 1.1% of total NLA 2.0% of monthly rental income[2] |
|
Uncle Lim’s Café Food & Beverage/Food Court 2,500 square foot NLA 0.5% of total NLA 1.9% of monthly rental income[2] |
|
Optical 88 Fashion & Footwear 1,365 square foot NLA 0.3% of total NLA 1.9% of monthly rental income[2] |
|
Top 10 tenants (by monthly rental income) 254,716 square foot NLA 48.7% of total NLA 45.7% of monthly rental income |
|
Other tenants 268,771 square foot NLA 51.3% of total NLA 54.3% of monthly rental income |
|
Total 523,487 square foot NLA 100.0% of total NLA 100.0% of monthly rental income |
[2] Based on monthly rental income for December 2021. Note: changes in NLA due to reconfiguration.
Subang Parade’s tenancy mix
(Tap individual slices for more details)
- * Based on monthly rental income for December 2021.
- Numbers may exceed 100% due to rounding up.
Tenancy expiry profile
| 2022 | 2023 | 2024 | |
|---|---|---|---|
| No. of tenancies expiring | 75 | 9 | 5 |
| NLA of tenancies expiring | 170,824 sq ft | 74,139 sq ft | 186,954 sq ft |
| NLA of tenancies expiring as % of total NLA | 32.6% | 14.2% | 35.7% |
| % of total monthly rental income[3] | 60.5% | 10.7% | 28.8% |
[3] Based on monthly rental income for December 2021
Mahkota Parade
Mahkota Parade was the first ‘regional’ shopping centre located in the heart of historic Melaka.
Positioning strategy
It is positioned as the premier shopping centre in Melaka with the established Parkson Department Store as its anchor. The centre also serves as the main destination for major community events, tourist events, and exhibitions.
Property update
In 2021, occupancy dropped to 87.1%. However, despite the market uncertainties, the Management continued to enhance the tenancy mix of the mall with the introduction of new tenants such as Skechers, Llao Llao and Gatti Sports.
Mahkota Parade remains as the main shopping destination in Melaka with 2.8 million visits in 2021.
| Title | Leasehold (until 2101) |
|---|---|
| Year opened | 1994 |
| Year acquired by Hektar REIT | 2006 |
| Year refurbished | 2010 |
|
No. 1 Jalan Merdeka 75000 Bandar Melaka Melaka |
Data as of 31 December 2021
| Primary trade area | 382,200 within 20 minutes drive time |
|---|---|
| Gross floor area | 1,392,623 square foot |
| Net lettable area | 521,142 square foot |
| Car park | 1,079 bays |
| Acquisition price | RM232.0 million |
| Valuation | RM323.5 million |
| Tenants | 90 (only NLA lots) |
| Occupancy | 87.1% |
| Visitor traffic | 2.8 million per annum |
- Parkson
- Seleria Food Court
- KFC
- Ampang Superbowl
- MM Cineplexes
Top 10 tenants
| Tenant | Trade sector | NLA (sq ft) | % of total NLA | % of monthly rental income[2] | |
|---|---|---|---|---|---|
| Top 10 tenants (by monthly rental income) | 294,229 | 56.4% | 41.0% | ||
| Other tenants | 226,913 | 43.6% | 59.0% | ||
| Total | 521,142 | 100.0% | 100.0% | ||
| 1 | Parkson | Department Store/Supermarket | 111,895 | 21.5% | 16.3% |
| 2 | Seleria Food Court | Food & Beverage/Food Court | 31,623 | 6.1% | 4.7% |
| 3 | Ampang Superbowl | Leisure & Entertainment/Sports & Fitness | 36,717 | 7.0% | 3.0% |
| 4 | MM Cineplexes | Leisure & Entertainment/Sports & Fitness | 43,496 | 8.3% | 2.9% |
| 5 | KFC | Food & Beverage/Food Court | 5,403 | 1.0% | 2.9% |
| 6 | Guardian | Health & Beauty | 3,800 | 0.7% | 2.4% |
| 7 | Family Store | Department Store/Supermarket | 25,758 | 4.9% | 2.4% |
| 8 | Kaison | Homewares & Furnishing | 9,655 | 1.9% | 2.2% |
| 9 | MR. D.I.Y. | Homewares & Furnishing | 16,690 | 3.2% | 2.1% |
| 10 | Gatti | Fashion & Footwear | 9,192 | 1.8% | 2.1% |
|
Parkson Department Store/Supermarket 111,895 square foot NLA 21.5% of total NLA 16.3% of monthly rental income[2] |
|
Seleria Food Court Food & Beverage/Food Court 31,623 square foot NLA 6.1% of total NLA 4.7% of monthly rental income[2] |
|
Ampang Superbowl Leisure & Entertainment/Sports & Fitness 36,717 square foot NLA 7.0% of total NLA 3.0% of monthly rental income[2] |
|
MM Cineplexes Leisure & Entertainment/Sports & Fitness 43,496 square foot NLA 8.3% of total NLA 2.9% of monthly rental income[2] |
|
KFC Food & Beverage/Food Court 5,403 square foot NLA 1.0% of total NLA 2.9% of monthly rental income[2] |
|
Guardian Health & Beauty 3,800 square foot NLA 0.7% of total NLA 2.4% of monthly rental income[2] |
|
Family Store Department Store/Supermarket 25,758 square foot NLA 4.9% of total NLA 2.4% of monthly rental income[2] |
|
Kaison Homewares & Furnishing 9,655 square foot NLA 1.9% of total NLA 2.2% of monthly rental income[2] |
|
MR. D.I.Y. Homewares & Furnishing 16,690 square foot NLA 3.2% of total NLA 2.1% of monthly rental income[2] |
|
Gatti Fashion & Footwear 9,192 square foot NLA 1.8% of total NLA 2.1% of monthly rental income[2] |
|
Top 10 tenants (by monthly rental income) 294,229 square foot NLA 56.4% of total NLA 41.0% of monthly rental income |
|
Other tenants 226,913 square foot NLA 43.6% of total NLA 59.0% of monthly rental income |
|
Total 521,142 square foot NLA 100.0% of total NLA 100.0% of monthly rental income |
[2] Based on monthly rental income for December 2021. Note: changes in NLA due to reconfiguration.
Mahkota Parade’s tenancy mix
(Tap individual slices for more details)
- * Based on monthly rental income for December 2021.
- Numbers may exceed 100% due to rounding up.
Tenancy expiry profile
| 2022 | 2023 | 2024 | |
|---|---|---|---|
| No. of tenancies expiring | 69 | 12 | 9 |
| NLA of tenancies expiring | 235,396 sq ft | 183,673 sq ft | 35,084 sq ft |
| NLA of tenancies expiring as % of total NLA | 45.2% | 35.2% | 6.7% |
| % of total monthly rental income[3] | 59.2% | 30.5% | 10.3% |
[3] Based on monthly rental income for December 2021
Wetex Parade
Wetex Parade and Classic Hotel is an integrated retail and hotel development located within the commercial heart of Muar, Johor. Opened in 1996, Wetex Parade remains as the only department store anchored shopping centre in town and serves as the premier retail destination for the royal town. Wetex Parade and Classic Hotel was Hektar REIT’s maiden acquisition in 2008 since its listing on the Main Market of Bursa Malaysia.
Property update
Overall, despite the challenging operating environment, Wetex Parade ended the year 2021 with its occupancy at close to 90%, while tenancy reversion remained positive at 6%. The mall also saw the entry of EEK Mart, Carlo Rino, Original Classic and Boost Juice in 2021. Visitor traffic was about 1.9 million.
Classic Hotel, the largest hotel in Muar and with the largest ballroom facilities recorded occupancy of 23% in 2021 with an average room rate of RM131.
| Title | Freehold |
|---|---|
| Year opened | 1996 |
| Year acquired by Hektar REIT | 2008 |
| Year refurbished | 2010 (mall) 2018 (hotel) |
|
69 Jalan Ali, Off Jalan Sulaiman 84000 Muar Johor |
Data as of 31 December 2021
| Primary trade area | 201,600 within 20 minutes drive time |
|---|---|
| Gross floor area | 281,590 square foot |
| Net lettable area | 175,014 square foot |
| Classic Hotel GFA | 125,931 square foot |
| Car park | 177 bays |
| Acquisition price | RM117.5 million |
| Valuation | RM142.0 million |
| Tenants | 60 (only NLA lots) |
| Occupancy | 89.9% |
| Visitor traffic | 1.9 million per annum |
- The Store
- Watson’s
- Guardian
- McDonald's
- MR. D.I.Y.
Top 10 tenants
| Tenant | Trade sector | NLA (sq ft) | % of total NLA | % of monthly rental income[2] | |
|---|---|---|---|---|---|
| Top 10 tenants (by monthly rental income) | 119,242 | 68.1% | 55.5% | ||
| Other tenants | 55,772 | 31.9% | 44.5% | ||
| Total | 175,014 | 100.0% | 100.0% | ||
| 1 | The Store | Department Store/Supermarket | 85,413 | 48.8% | 28.7% |
| 2 | Watson’s | Health & Beauty | 2,824 | 1.6% | 7.0% |
| 3 | Guardian | Health & Beauty | 2,949 | 1.7% | 3.0% |
| 4 | McDonald's | Food & Beverage/Food Court | 2,489 | 1.4% | 2.9% |
| 5 | MR. D.I.Y. | Homewares and Furnishing | 9,577 | 5.5% | 2.8% |
| 6 | Popular Bookstore | Gifts/Books/Toys/Specialty | 7,190 | 4.1% | 2.4% |
| 7 | Baker House Confectionery | Food & Beverage/Food Court | 990 | 0.6% | 2.4% |
| 8 | Tanjongmas Bookcentre | Gifts/Books/Toys/Specialty | 4,037 | 2.3% | 2.3% |
| 9 | Pao Sing | Fashion & Footwear | 1,023 | 0.6% | 2.0% |
| 10 | Little Muar | Food & Beverage/Food Court | 2,750 | 1.6% | 2.0% |
|
The Store Department Store/Supermarket 85,413 square foot NLA 48.8% of total NLA 28.7% of monthly rental income[2] |
|
Watson’s Health & Beauty 2,824 square foot NLA 1.6% of total NLA 7.0% of monthly rental income[2] |
|
Guardian Health & Beauty 2,949 square foot NLA 1.7% of total NLA 3.0% of monthly rental income[2] |
|
McDonald's Food & Beverage/Food Court 2,489 square foot NLA 1.4% of total NLA 2.9% of monthly rental income[2] |
|
MR. D.I.Y. Homewares and Furnishing 9,577 square foot NLA 5.5% of total NLA 2.8% of monthly rental income[2] |
|
Popular Bookstore Gifts/Books/Toys/Specialty 7,190 square foot NLA 4.1% of total NLA 2.4% of monthly rental income[2] |
|
Baker House Confectionery Food & Beverage/Food Court 990 square foot NLA 0.6% of total NLA 2.4% of monthly rental income[2] |
|
Tanjongmas Bookcentre Gifts/Books/Toys/Specialty 4,037 square foot NLA 2.3% of total NLA 2.3% of monthly rental income[2] |
|
Pao Sing Fashion & Footwear 1,023 square foot NLA 0.6% of total NLA 2.0% of monthly rental income[2] |
|
Little Muar Food & Beverage/Food Court 2,750 square foot NLA 1.6% of total NLA 2.0% of monthly rental income[2] |
|
Top 10 tenants (by monthly rental income) 119,242 square foot NLA 68.1% of total NLA 55.5% of monthly rental income |
|
Other tenants 55,772 square foot NLA 31.9% of total NLA 44.5% of monthly rental income |
|
Total 175,014 square foot NLA 100.0% of total NLA 100.0% of monthly rental income |
[2] Based on monthly rental income for December 2021
Wetex Parade’s tenancy mix
(Tap individual slices for more details)
- * Based on monthly rental income for December 2021.
- Numbers may exceed 100% due to rounding up.
Tenancy expiry profile
| 2022 | 2023 | 2024 | |
|---|---|---|---|
| No. of tenancies expiring | 32 | 15 | 13 |
| NLA of tenancies expiring | 31,628 sq ft | 103,664 sq ft | 22,043 sq ft |
| NLA of tenancies expiring as % of total NLA | 18.1% | 59.2% | 12.6% |
| % of total monthly rental income[3] | 39.4% | 43.2% | 17.3% |
[3] Based on monthly rental income for December 2021
Central Square
Completed in 1997, Central Square is the most established retail centre in Sungai Petani and is considered as one of the most recognisable landmarks in town. Strategically situated in the commercial centre and being the leading mall in town, Central Square was acquired by Hektar REIT in 2012.
Property updates
Management remains focused on improving the tenant mix and positioning of Central Square, which saw the entry of Original Classic and 7-Eleven while recording positive rental reversions of 3.7%.
We also welcomed the opening of GSC at Central Square in January 2022 after GSC’s successful acquisition of the MBO Cinema outlet in Central Square in 2021. Occupancy rate for 2021 was marginally lower at 85.9%.
| Title | Freehold |
|---|---|
| Year opened | 1997 |
| Year acquired by Hektar REIT | 2012 |
| Year refurbished | 2015 |
|
23, Jalan Kampung Baru 08000 Sungai Petani Kedah |
Data as of 31 December 2021
| Primary trade area | 406,870 within 20 minutes drive time |
|---|---|
| Gross floor area | 743,117 square foot |
| Net lettable area | 310,564 square foot |
| Car park | 478 bays |
| Acquisition price | RM83.0 million |
| Valuation | RM90.0 million |
| Tenants | 45 (only NLA lots) |
| Occupancy | 85.9% |
| Visitor traffic | 1.9 million per annum |
- The Store
- GSC
- CS One Station Mobile
- KFC
- MR. D.I.Y.
Top 10 tenants
| Tenant | Trade sector | NLA (sq ft) | % of total NLA | % of monthly rental income[2] | |
|---|---|---|---|---|---|
| Top 10 tenants (by monthly rental income) | 209,215 | 67.6% | 75.6% | ||
| Other tenants | 101,349 | 32.4% | 24.4% | ||
| Total | 310,564 | 100.0% | 100.0% | ||
| 1 | The Store | Department Store/Supermarket | 130,000 | 41.9% | 44.3% |
| 2 | GSC | Leisure & Entertainment/Sports & Fitness | 34,412 | 11.1% | 7.4% |
| 3 | CS One Station Mobile | Electronics & IT | 13,229 | 4.3% | 5.0% |
| 4 | KFC | Food & Beverage/Food Court | 3,619 | 1.2% | 4.8% |
| 5 | MR. D.I.Y. | Homewares & Furnishing | 11,968 | 3.9% | 3.2% |
| 6 | Guardian | Health & Beauty | 1,443 | 0.5% | 2.8% |
| 7 | Seleria Food Court | Food & Beverage/Food Court | 6,084 | 2.0% | 2.3% |
| 8 | Wow Wonderland Box | Leisure & Entertainment/Sports & Fitness | 5,600 | 1.8% | 2.1% |
| 9 | Poly Shoe | Fashion & Footwear | 1,521 | 0.5% | 2.1% |
| 10 | Butik Tiesto | Fashion & Footwear | 1,339 | 0.4% | 1.6% |
|
The Store Department Store/Supermarket 130,000 square foot NLA 41.9% of total NLA 44.3% of monthly rental income[2] |
|
GSC Leisure & Entertainment/Sports & Fitness 34,412 square foot NLA 11.1% of total NLA 7.4% of monthly rental income[2] |
|
CS One Station Mobile Electronics & IT 13,229 square foot NLA 4.3% of total NLA 5.0% of monthly rental income[2] |
|
KFC Food & Beverage/Food Court 3,619 square foot NLA 1.2% of total NLA 4.8% of monthly rental income[2] |
|
MR. D.I.Y. Homewares & Furnishing 11,968 square foot NLA 3.9% of total NLA 3.2% of monthly rental income[2] |
|
Guardian Health & Beauty 1,443 square foot NLA 0.5% of total NLA 2.8% of monthly rental income[2] |
|
Seleria Food Court Food & Beverage/Food Court 6,084 square foot NLA 2.0% of total NLA 2.3% of monthly rental income[2] |
|
Wow Wonderland Box Leisure & Entertainment/Sports & Fitness 5,600 square foot NLA 1.8% of total NLA 2.1% of monthly rental income[2] |
|
Poly Shoe Fashion & Footwear 1,521 square foot NLA 0.5% of total NLA 2.1% of monthly rental income[2] |
|
Butik Tiesto Fashion & Footwear 1,339 square foot NLA 0.4% of total NLA 1.6% of monthly rental income[2] |
|
Top 10 tenants (by monthly rental income) 209,215 square foot NLA 67.6% of total NLA 75.6% of monthly rental income |
|
Other tenants 101,349 square foot NLA 32.4% of total NLA 24.4% of monthly rental income |
|
Total 310,564 square foot NLA 100.0% of total NLA 100.0% of monthly rental income |
[2] Based on monthly rental income for December 2021
Central Square’s tenancy mix
(Tap individual slices for more details)
- * Based on monthly rental income for December 2021.
- Numbers may exceed 100% due to rounding up.
Tenancy expiry profile
| 2022 | 2023 | 2024 | |
|---|---|---|---|
| No. of tenancies expiring | 35 | 5 | 5 |
| NLA of tenancies expiring | 88,710 sq ft | 131,915 sq ft | 46,271 sq ft |
| NLA of tenancies expiring as % of total NLA | 28.6% | 42.5% | 14.9% |
| % of total monthly rental income[3] | 35.7% | 47.6% | 16.8% |
[3] Based on monthly rental income for December 2021
Kulim Central
Kulim Central is the only shopping centre in Kulim, Kedah and it was acquired by Hektar REIT in 2012.
Property update
The mall formerly known as Landmark Central was rebranded in 2017, and is now known as Kulim Central following the completion of the refurbishment and AEI exercise. The positive payoff from the asset enhancement initiative continues till today with new brands such as sports and lifestyle retailer Original Classic and international premium coffee specialist retailer, The Coffee Bean & Tea Leaf as well as Mi Store making their entries into Kulim Central in 2021, thereby enhancing the vibrancy of the tenancy mix in the mall.
Occupancy remained steady at 94% in 2021. One of our anchor tenants, Giant Superstore, which was relaunched in 2019, has also renewed its tenancy agreement for the next 3 years.
| Title | Freehold |
|---|---|
| Year opened | 2009 |
| Year acquired by Hektar REIT | 2012 |
| Year refurbished | 2017 |
|
No. 1 Jalan KLC Satu (1) 09000 Kulim Kedah |
Data as of 31 December 2021
| Primary trade area | 287,694 within 20 minutes drive time |
|---|---|
| Gross floor area | 513,333 square foot |
| Net lettable area | 299,781 square foot |
| Car park | 519 bays |
| Acquisition price | RM98.0 million |
| Valuation | RM129.0 million |
| Tenants | 67 (only NLA lots) |
| Occupancy | 94.0% |
| Visitor traffic | 1.9 million per annum |
- Giant Superstore
- The Store
- Seleria Food Court
- GSC
- Ole Ole Super Bowl
Top 10 tenants
| Tenant | Trade sector | NLA (sq ft) | % of total NLA | % of monthly rental income[2] | |
|---|---|---|---|---|---|
| Top 10 tenants (by monthly rental income) | 210,455 | 70.2% | 50.4% | ||
| Other tenants | 89,326 | 29.8% | 49.6% | ||
| Total | 299,781 | 100.0% | 100.0% | ||
| 1 | Giant Superstore | Department Store/Supermarket | 72,140 | 24.1% | 15.2% |
| 2 | The Store | Department Store/Supermarket | 57,785 | 19.3% | 9.6% |
| 3 | Seleria Food Court | Food & Beverage/Food Court | 4,398 | 1.5% | 5.6% |
| 4 | GSC | Leisure & Entertainment/Sports & Fitness | 24,000 | 8.0% | 4.9% |
| 5 | Ole Ole Super Bowl | Leisure & Entertainment/Sports & Fitness | 23,670 | 7.9% | 3.0% |
| 6 | MR. D.I.Y. | Homewares & Furnishing | 11,711 | 3.9% | 2.7% |
| 7 | Watson's | Health & Beauty | 2,238 | 0.7% | 2.6% |
| 8 | Hasani Bookstore | Gifts/Books/Toys/Specialty | 5,228 | 1.7% | 2.4% |
| 9 | Hanzo | Fashion & Footwear | 5,755 | 1.9% | 2.2% |
| 10 | Pizza Hut | Food & Beverage/Food Court | 3,530 | 1.2% | 2.2% |
|
Giant Superstore Department Store/Supermarket 72,140 square foot NLA 24.1% of total NLA 15.2% of monthly rental income[2] |
|
The Store Department Store/Supermarket 57,785 square foot NLA 19.3% of total NLA 9.6% of monthly rental income[2] |
|
Seleria Food Court Food & Beverage/Food Court 4,398 square foot NLA 1.5% of total NLA 5.6% of monthly rental income[2] |
|
GSC Leisure & Entertainment/Sports & Fitness 24,000 square foot NLA 8.0% of total NLA 4.9% of monthly rental income[2] |
|
Ole Ole Super Bowl Leisure & Entertainment/Sports & Fitness 23,670 square foot NLA 7.9% of total NLA 3.0% of monthly rental income[2] |
|
MR. D.I.Y. Homewares & Furnishing 11,711 square foot NLA 3.9% of total NLA 2.7% of monthly rental income[2] |
|
Watson's Health & Beauty 2,238 square foot NLA 0.7% of total NLA 2.6% of monthly rental income[2] |
|
Hasani Bookstore Gifts/Books/Toys/Specialty 5,228 square foot NLA 1.7% of total NLA 2.4% of monthly rental income[2] |
|
Hanzo Fashion & Footwear 5,755 square foot NLA 1.9% of total NLA 2.2% of monthly rental income[2] |
|
Pizza Hut Food & Beverage/Food Court 3,530 square foot NLA 1.2% of total NLA 2.2% of monthly rental income[2] |
|
Top 10 tenants (by monthly rental income) 210,455 square foot NLA 70.2% of total NLA 50.4% of monthly rental income |
|
Other tenants 89,326 square foot NLA 29.8% of total NLA 49.6% of monthly rental income |
|
Total 299,781 square foot NLA 100.0% of total NLA 100.0% of monthly rental income |
[2] Based on monthly rental income for December 2021
Kulim Central’s tenancy mix
(Tap individual slices for more details)
- * Based on monthly rental income for December 2021.
- Numbers may exceed 100% due to rounding up.
Tenancy expiry profile
| 2022 | 2023 | 2024 | |
|---|---|---|---|
| No. of tenancies expiring | 54 | 5 | 8 |
| NLA of tenancies expiring | 111,977 sq ft | 63,796 sq ft | 106,077 sq ft |
| NLA of tenancies expiring as % of total NLA | 37.4% | 21.3% | 35.4% |
| % of total monthly rental income[3] | 59.8% | 13.7% | 26.5% |
[3] Based on monthly rental income for December 2021
Segamat Central
Segamat Central is the only purpose-built shopping centre in Segamat and was acquired by Hektar REIT in 2017. It has the largest cinema in Segamat, a direct link to Segamat’s main bus terminal and is within walking distance of the KTM railway station.
Property update
Following the acquisition of the mall by Hektar REIT, the mall was rebranded from “1Segamat” to Segamat Central, as it is known today. Management remains focused on an “occupancy first“ strategy by executing rental revision strategy to retain existing tenants as well as attract specialty anchors and more F&B retailers to the mall.
We welcomed the opening of Original Classic and the authorised Apple reseller, Switch in 2021, offering shoppers with a new shopping experience and access to the much acclaimed Apple products. We also recently introduced an exciting new grocer, KS Mart Signature and a new F&B tenant, Siam Restaurant in January 2022. Due to the tough retail environment, occupancy has dropped to 67.3% in 2021.
| Title | Leasehold (until 2116) |
|---|---|
| Year opened | 2011 |
| Year acquired by Hektar REIT | 2017 |
| Year refurbished | In planning |
|
Jalan Kolam Air, Kampung Gubah 85000 Segamat Johor |
Data as of 31 December 2021
| Primary trade area | 190,000 within 20 minutes drive time |
|---|---|
| Gross floor area | 486,789 square foot |
| Net lettable area | 211,910 square foot |
| Car park | 389 bays |
| Acquisition price | RM104.0 million |
| Valuation | RM57.0 million |
| Tenants | 33 (only NLA lots) |
| Occupancy | 67.3% |
| Visitor traffic | 0.7 million per annum |
- MM Cineplexes
- MR. D.I.Y.
- Guardian
- Aeon Wellness
- Sportsz / HT Jeans
Top 10 tenants
| Tenant | Trade sector | NLA (sq ft) | % of total NLA | % of monthly rental income[2] | |
|---|---|---|---|---|---|
| Top 10 tenants (by monthly rental income) | 64,929 | 30.6% | 70.3% | ||
| Other tenants | 146,981 | 69.4% | 29.7% | ||
| Total | 211,910 | 100.00% | 100.00% | ||
| 1 | MM Cineplexes | Leisure & Entertainment/Sports & Fitness | 32,432 | 15.3% | 23.5% |
| 2 | MR. D.I.Y. | Homewares & Furnishing | 13,896 | 6.6% | 11.2% |
| 3 | Guardian | Health & Beauty | 1,615 | 0.8% | 5.4% |
| 4 | Aeon Wellness | Health & Beauty | 1,551 | 0.7% | 5.2% |
| 5 | Sportsz / HT Jeans | Fashion & Footwear | 4,898 | 2.3% | 4.9% |
| 6 | XES Premium | Fashion & Footwear | 1,991 | 0.9% | 4.7% |
| 7 | Switch | Electronics & IT | 1,184 | 0.6% | 4.5% |
| 8 | AD Jeans | Fashion & Footwear | 3,218 | 1.5% | 3.8% |
| 9 | KFC | Food & Beverage / Food Court | 3,240 | 1.5% | 3.8% |
| 10 | BS Gold & Jewellery | Fashion & Footwear | 904 | 0.4% | 3.3% |
|
MM Cineplexes Leisure & Entertainment/Sports & Fitness 32,432 square foot NLA 15.3% of total NLA 23.5% of monthly rental income[2] |
|
MR. D.I.Y. Homewares & Furnishing 13,896 square foot NLA 6.6% of total NLA 11.2% of monthly rental income[2] |
|
Guardian Health & Beauty 1,615 square foot NLA 0.8% of total NLA 5.4% of monthly rental income[2] |
|
Aeon Wellness Health & Beauty 1,551 square foot NLA 0.7% of total NLA 5.2% of monthly rental income[2] |
|
Sportsz / HT Jeans Fashion & Footwear 4,898 square foot NLA 2.3% of total NLA 4.9% of monthly rental income[2] |
|
XES Premium Fashion & Footwear 1,991 square foot NLA 0.9% of total NLA 4.7% of monthly rental income[2] |
|
Switch Electronics & IT 1,184 square foot NLA 0.6% of total NLA 4.5% of monthly rental income[2] |
|
AD Jeans Fashion & Footwear 3,218 square foot NLA 1.5% of total NLA 3.8% of monthly rental income[2] |
|
KFC Food & Beverage / Food Court 3,240 square foot NLA 1.5% of total NLA 3.8% of monthly rental income[2] |
|
BS Gold & Jewellery Fashion & Footwear 904 square foot NLA 0.4% of total NLA 3.3% of monthly rental income[2] |
|
Top 10 tenants (by monthly rental income) 64,929 square foot NLA 30.6% of total NLA 70.3% of monthly rental income |
|
Other tenants 146,981 square foot NLA 69.4% of total NLA 29.7% of monthly rental income |
|
Total 211,910 square foot NLA 100.00% of total NLA 100.00% of monthly rental income |
[2] Based on monthly rental income for December 2021.
Segamat Central’s tenancy mix
(Tap individual slices for more details)
- * Based on monthly rental income for December 2021.
- Numbers may exceed 100% due to rounding up.
Tenancy expiry profile
| 2022 | 2023 | 2024 | |
|---|---|---|---|
| No. of tenancies expiring | 26 | 4 | 3 |
| NLA of tenancies expiring | 59,818 sq ft | 38,815 sq ft | 43,992 sq ft |
| NLA of tenancies expiring as % of total NLA | 28.2% | 18.3% | 20.8% |
| % of total monthly rental income[3] | 60.0% | 33.2% | 6.8% |
[3] Based on monthly rental income for December 2021