Subang Parade
Subang Parade was the first regional shopping centre in Selangor when it opened in 1988. It remains as one of Hektar REIT's core assets, a popular shopping centre within its catchment area, in the heart of Subang Jaya's commercial district, a township 25 minutes away from Kuala Lumpur.
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. In 2022, the Management remains steadfast on an “occupancy first“ strategy by executing a 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 Asiari at the mall in June 2022 and Ayam Penyet Best in December 2022, in line with the tenancy rejuvenation plans for Subang Parade which would refresh its F&B offerings.
Footfall improved by 19% to 4.7 million in 2022 as we intensified our marketing initiatives by carrying out sales-driven promotional campaigns at the mall.
| 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 2022
| Primary trade area | 1,834,000 within 20 minutes drive time |
|---|---|
| Gross floor area | 1,169,038 square foot |
| Net lettable area | 527,139 square foot |
| Car park | 1,288 bays |
| Acquisition price | RM 280.0 million |
| Valuation | RM 417.0 million |
| Tenants | 74 (only NLA lots) |
| Occupancy | 70.3% |
| Visitor traffic | 4.7 million per annum |
- Parkson
- GSC
- Best Denki
- Village Grocer
- Nando’s Chickenland
Top 10 tenants
| Tenant | Trade sector | NLA (sq ft) | % of total NLA | % of monthly rental income[1] | |
|---|---|---|---|---|---|
| Top 10 tenants (by monthly rental income) | 237,457 | 45.0% | 53.6% | ||
| Other tenants | 289,682 | 55.0% | 46.4% | ||
| Total | 527,139 | 100.0% | 100.0% | ||
| 1 | Parkson | Department Store/Supermarket | 140,620 | 26.7% | 27.7% |
| 2 | GSC | Leisure & Entertainment/Sports & Fitness | 30,258 | 5.7% | 4.5% |
| 3 | Best Denki | Electronics & IT | 20,930 | 4.0% | 4.1% |
| 4 | Village Grocer | Department Store/Supermarket | 26,375 | 5.0% | 3.5% |
| 5 | Nando's Chickenland | Food & Beverage/Food Court | 2,610 | 0.5% | 2.6% |
| 6 | Caring Pharmacy | Health & Beauty | 2,679 | 0.5% | 2.5% |
| 7 | Yamaha Music School & Showroom | Gifts/Books/Toys/Specialty | 5,733 | 1.1% | 2.3% |
| 8 | Uncle Lim's Café | Food & Beverage/Food Court | 2,500 | 0.5% | 2.1% |
| 9 | Optical 88 | Fashion & Footwear | 1,365 | 0.3% | 2.1% |
| 10 | MNB | Fashion & Footwear | 4,387 | 0.8% | 2.1% |
|
Parkson Department Store/Supermarket 140,620 square foot NLA 26.7% of total NLA 27.7% of monthly rental income[1] |
|
GSC Leisure & Entertainment/Sports & Fitness 30,258 square foot NLA 5.7% of total NLA 4.5% of monthly rental income[1] |
|
Best Denki Electronics & IT 20,930 square foot NLA 4.0% of total NLA 4.1% of monthly rental income[1] |
|
Village Grocer Department Store/Supermarket 26,375 square foot NLA 5.0% of total NLA 3.5% of monthly rental income[1] |
|
Nando's Chickenland Food & Beverage/Food Court 2,610 square foot NLA 0.5% of total NLA 2.6% of monthly rental income[1] |
|
Caring Pharmacy Health & Beauty 2,679 square foot NLA 0.5% of total NLA 2.5% of monthly rental income[1] |
|
Yamaha Music School & Showroom Gifts/Books/Toys/Specialty 5,733 square foot NLA 1.1% of total NLA 2.3% of monthly rental income[1] |
|
Uncle Lim's Café Food & Beverage/Food Court 2,500 square foot NLA 0.5% of total NLA 2.1% of monthly rental income[1] |
|
Optical 88 Fashion & Footwear 1,365 square foot NLA 0.3% of total NLA 2.1% of monthly rental income[1] |
|
MNB Fashion & Footwear 4,387 square foot NLA 0.8% of total NLA 2.1% of monthly rental income[1] |
|
Top 10 tenants (by monthly rental income) 237,457 square foot NLA 45.0% of total NLA 53.6% of monthly rental income |
|
Other tenants 289,682 square foot NLA 55.0% of total NLA 46.4% of monthly rental income |
|
Total 527,139 square foot NLA 100.0% of total NLA 100.0% of monthly rental income |
[1] Based on monthly rental income for December 2022.
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
| 2023 | 2024 | 2025 | |
|---|---|---|---|
| No. of tenancies expiring | 53 | 16 | 5 |
| NLA of tenancies expiring | 153,317 sq ft | 194,222 sq ft | 22,899 sq ft |
| NLA of tenancies expiring as % of total NLA | 29.1% | 36.8% | 4.3% |
| % of total monthly rental income[2] | 47.9% | 45.2% | 6.9% |
[2] Based on monthly rental income for December 2022
Mahkota Parade
Mahkota Parade was the first ‘regional’ shopping centre located in the heart of historic Melaka. 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.
Despite market uncertainties, the Management continues to enhance the tenancy mix of the mall with the introduction of new & refreshed retailers such as Sushi Go, Oppo, Onezo, Siam Restaurant, Gigi Coffee, Rollney, Felancy, Pierre Cardin, Vivo and Madam Croffle in 2022. We also introduced a new and exciting F&B tenant, 4Fingers Crispy Chicken in January 2023.
Mahkota Parade remains as the main shopping destination in Melaka with a major increase in visits to 6.0 million in 2022 in line with the lifting of movement restrictions.
| Title | Leasehold |
|---|---|
| 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 2022
| 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 | RM338.5 million |
| Tenants | 84 tenants (only NLA lots) |
| Occupancy | 86.9%% |
| Visitor traffic | 6.0 million per annum |
- Parkson
- Seleria Food Court
- JD Sports
- MM Cineplexes
- KFC
Top 10 tenants
| Tenant | Trade sector | NLA (sq ft) | % of total NLA | % of monthly rental income[1] | |
|---|---|---|---|---|---|
| Top 10 tenants (by monthly rental income) | 295,368 | 56.7% | 42.7% | ||
| Other tenants | 225,774 | 43.3% | 57.3% | ||
| Total | 521,142 | 100.0% | 100.0% | ||
| 1 | Parkson | Department Store/Supermarket | 111,895 | 21.5% | 17.1% |
| 2 | Seleria | Food & Beverage/Food Court | 6,475 | 7.0% | 4.3% |
| 3 | JD Sports | Fashion & Footwear | 5,942 | 1.1% | 3.3% |
| 4 | MM2 Cineplexes | Leisure & Entertainment/Sports & Fitness | 43,496 | 8.3% | 3.1% |
| 5 | KFC | Food & Beverage/Food Court | 5,403 | 1.0% | 3.0% |
| 6 | Family Store | Department Store/Supermarket | 25,758 | 4.9% | 2.8% |
| 7 | Guardian | Health & Beauty | 3,800 | 0.7% | 2.6% |
| 8 | Gatti | Fashion & Footwear | 9,192 | 1.8% | 2.5% |
| 9 | MR. D.I.Y. | Homewares & Furnishing | 16,690 | 3.2% | 2.2% |
| 10 | Ampang Superbowl | Leisure & Entertainment/Sports & Fitness | 36,717 | 7.0% | 1.9% |
|
Parkson Department Store/Supermarket 111,895 square foot NLA 21.5% of total NLA 17.1% of monthly rental income[1] |
|
Seleria Food & Beverage/Food Court 6,475 square foot NLA 7.0% of total NLA 4.3% of monthly rental income[1] |
|
JD Sports Fashion & Footwear 5,942 square foot NLA 1.1% of total NLA 3.3% of monthly rental income[1] |
|
MM2 Cineplexes Leisure & Entertainment/Sports & Fitness 43,496 square foot NLA 8.3% of total NLA 3.1% of monthly rental income[1] |
|
KFC Food & Beverage/Food Court 5,403 square foot NLA 1.0% of total NLA 3.0% of monthly rental income[1] |
|
Family Store Department Store/Supermarket 25,758 square foot NLA 4.9% of total NLA 2.8% of monthly rental income[1] |
|
Guardian Health & Beauty 3,800 square foot NLA 0.7% of total NLA 2.6% of monthly rental income[1] |
|
Gatti Fashion & Footwear 9,192 square foot NLA 1.8% of total NLA 2.5% of monthly rental income[1] |
|
MR. D.I.Y. Homewares & Furnishing 16,690 square foot NLA 3.2% of total NLA 2.2% of monthly rental income[1] |
|
Ampang Superbowl Leisure & Entertainment/Sports & Fitness 36,717 square foot NLA 7.0% of total NLA 1.9% of monthly rental income[1] |
|
Top 10 tenants (by monthly rental income) 295,368 square foot NLA 56.7% of total NLA 42.7% of monthly rental income |
|
Other tenants 225,774 square foot NLA 43.3% of total NLA 57.3% of monthly rental income |
|
Total 521,142 square foot NLA 100.0% of total NLA 100.0% of monthly rental income |
[1] Based on monthly rental income for December 2022. 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
| 2023 | 2024 | 2025 | |
|---|---|---|---|
| No. of tenancies expiring | 42 | 19 | 23 |
| NLA of tenancies expiring | 291,601 sq ft | 61,518 sq ft | 99,886 sq ft |
| NLA of tenancies expiring as % of total NLA | 56.0% | 11.8% | 19.2% |
| % of total monthly rental income[2] | 62.3% | 19.7% | 18.0% |
[2] Based on monthly rental income for December 2022
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 achieved a stable occupancy rate of 88% in 2022 with entries of new retailers such as Mi Store, Premium Store, Osim and Yole Yogurt, as well as refreshed retailers like Big Apple and Lazo Diamond. Overall, visitor traffic has increased by 52% in 2022 to 2.9 million visits.
Classic Hotel, the largest hotel in Muar and with the largest ballroom facilities overlooks the serene Muar River. Occupancy rate of Classic Hotel increased to 46% from 23% in 2021 with an average room rate of RM137 in 2022 on the back of the lifting of travelling restrictions and normalisation of economic and tourism activities. Opened the same year, the hotel underwent full refurbishment in 2018 in an effort to enhance its looks and facilities. The hotel now features 156 newly renovated rooms furnished with classic contemporary interiors to better suit the needs of the modern traveller
| 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 2022
| Primary trade area | 201,600 within 20 minutes drive time |
|---|---|
| Gross floor area | 281,590 square foot |
| Net lettable area | 174,651 square foot |
| Classic Hotel GFA | 125,931 square foot |
| Car park | 177 bays |
| Acquisition price | RM117.5 million |
| Valuation | RM156.6 million |
| Tenants | 54 (only NLA lots) |
| Occupancy | 88.1% |
| Visitor traffic | 2.9 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[1] | |
|---|---|---|---|---|---|
| Top 10 tenants (by monthly rental income) | 117,732 | 67.4% | 58.6% | ||
| Other tenants | 56,919 | 32.6% | 41.4% | ||
| Total | 174,651 | 100.0% | 100.0% | ||
| 1 | The Store | Department Store/Supermarket | 85,413 | 48.9% | 30.4% |
| 2 | Watson's | Health & Beauty | 2,824 | 1.6% | 7.4% |
| 3 | Guardian | Health & Beauty | 2,949 | 1.7% | 3.2% |
| 4 | McDonald's | Food & Beverage/Food Court | 2,489 | 1.4% | 3.1% |
| 5 | MR. D.I.Y. | Homewares & Furnishing | 9,577 | 5.5% | 2.9% |
| 6 | Popular Bookstore | Gifts/Books/Toys/Specialty | 7,190 | 4.1% | 2.6% |
| 7 | Baker House Confectionery | Food & Beverage/Food Court | 990 | 0.6% | 2.6% |
| 8 | Tanjongmas Bookcentre | Gifts/Books/Toys/Specialty | 4,037 | 2.3% | 2.2% |
| 9 | Pao Sing | Fashion & Footwear | 1,023 | 0.6% | 2.2% |
| 10 | Bata | Fashion & Footwear | 1,240 | 0.7% | 2.1% |
|
The Store Department Store/Supermarket 85,413 square foot NLA 48.9% of total NLA 30.4% of monthly rental income[1] |
|
Watson's Health & Beauty 2,824 square foot NLA 1.6% of total NLA 7.4% of monthly rental income[1] |
|
Guardian Health & Beauty 2,949 square foot NLA 1.7% of total NLA 3.2% of monthly rental income[1] |
|
McDonald's Food & Beverage/Food Court 2,489 square foot NLA 1.4% of total NLA 3.1% of monthly rental income[1] |
|
MR. D.I.Y. Homewares & Furnishing 9,577 square foot NLA 5.5% of total NLA 2.9% of monthly rental income[1] |
|
Popular Bookstore Gifts/Books/Toys/Specialty 7,190 square foot NLA 4.1% of total NLA 2.6% of monthly rental income[1] |
|
Baker House Confectionery Food & Beverage/Food Court 990 square foot NLA 0.6% of total NLA 2.6% of monthly rental income[1] |
|
Tanjongmas Bookcentre Gifts/Books/Toys/Specialty 4,037 square foot NLA 2.3% of total NLA 2.2% of monthly rental income[1] |
|
Pao Sing Fashion & Footwear 1,023 square foot NLA 0.6% of total NLA 2.2% of monthly rental income[1] |
|
Bata Fashion & Footwear 1,240 square foot NLA 0.7% of total NLA 2.1% of monthly rental income[1] |
|
Top 10 tenants (by monthly rental income) 117,732 square foot NLA 67.4% of total NLA 58.6% of monthly rental income |
|
Other tenants 56,919 square foot NLA 32.6% of total NLA 41.4% of monthly rental income |
|
Total 174,651 square foot NLA 100.0% of total NLA 100.0% of monthly rental income |
[1] Based on monthly rental income for December 2022
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
| 2023 | 2024 | 2025 | |
|---|---|---|---|
| No. of tenancies expiring | 24 | 18 | 12 |
| NLA of tenancies expiring | 114,324 sq ft | 24,442 sq ft | 15,038 sq ft |
| NLA of tenancies expiring as % of total NLA | 65.5% | 14.0% | 8.6% |
| % of total monthly rental income[2] | 59.6% | 24.2% | 16.2% |
[2] Based on monthly rental income for December 2022
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.
The leading mall in Sungai Petani recorded visitor traffic of 2.7 million in 2022 while occupancy dipped to 82%.
The management remains focused on upgrading the quality of the tenant mix and positioning of Central Square, as reflected by the entry of Machines, Tealive, Asama Thai Food and I-Serve Technology & Vacations.
| 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 2022
| 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 | RM91.0 million |
| Tenants | 45 (only NLA lots) |
| Occupancy | 82.3% |
| Visitor traffic | 2.7 million per annum |
- The Store
- GSC
- KFC
- MR. D.I.Y.
- Guardian
Top 10 tenants
| Tenant | Trade sector | NLA (sq ft) | % of total NLA | % of monthly rental income[1] | |
|---|---|---|---|---|---|
| Top 10 tenants (by monthly rental income) | 193,106 | 62.2% | 74.6% | ||
| Other tenants | 117,458 | 37.8% | 25.4% | ||
| Total | 310,564 | 100.0% | 100.0% | ||
| 1 | The Store | Department Store/Supermarket | 130,000 | 41.9% | 46.3% |
| 2 | GSC | Leisure & Entertainment/Sports & Fitness | 34,412 | 11.1% | 7.8% |
| 3 | KFC | Food & Beverage/Food Court | 3,619 | 1.2% | 5.0% |
| 4 | MR. D.I.Y. | Homewares & Furnishing | 11,968 | 3.9% | 3.3% |
| 5 | Guardian | Health & Beauty | 1,443 | 0.5% | 2.9% |
| 6 | Wow Wonderland Box | Leisure & Entertainment/Sports & Fitness | 5,600 | 1.8% | 2.2% |
| 7 | Poly Shoe | Fashion & Footwear | 1,521 | 0.5% | 2.2% |
| 8 | Butik Tiesto | Fashion & Footwear | 1,339 | 0.4% | 1.7% |
| 9 | Watson’s | Health & Beauty | 1,131 | 0.4% | 1.7% |
| 10 | A Sama Thaifood | Food & Beverage/Food Court | 2,074 | 0.7% | 1.5% |
|
The Store Department Store/Supermarket 130,000 square foot NLA 41.9% of total NLA 46.3% of monthly rental income[1] |
|
GSC Leisure & Entertainment/Sports & Fitness 34,412 square foot NLA 11.1% of total NLA 7.8% of monthly rental income[1] |
|
KFC Food & Beverage/Food Court 3,619 square foot NLA 1.2% of total NLA 5.0% of monthly rental income[1] |
|
MR. D.I.Y. Homewares & Furnishing 11,968 square foot NLA 3.9% of total NLA 3.3% of monthly rental income[1] |
|
Guardian Health & Beauty 1,443 square foot NLA 0.5% of total NLA 2.9% of monthly rental income[1] |
|
Wow Wonderland Box Leisure & Entertainment/Sports & Fitness 5,600 square foot NLA 1.8% of total NLA 2.2% of monthly rental income[1] |
|
Poly Shoe Fashion & Footwear 1,521 square foot NLA 0.5% of total NLA 2.2% of monthly rental income[1] |
|
Butik Tiesto Fashion & Footwear 1,339 square foot NLA 0.4% of total NLA 1.7% of monthly rental income[1] |
|
Watson’s Health & Beauty 1,131 square foot NLA 0.4% of total NLA 1.7% of monthly rental income[1] |
|
A Sama Thaifood Food & Beverage/Food Court 2,074 square foot NLA 0.7% of total NLA 1.5% of monthly rental income[1] |
|
Top 10 tenants (by monthly rental income) 193,106 square foot NLA 62.2% of total NLA 74.6% of monthly rental income |
|
Other tenants 117,458 square foot NLA 37.8% of total NLA 25.4% of monthly rental income |
|
Total 310,564 square foot NLA 100.0% of total NLA 100.0% of monthly rental income |
[1] Based on monthly rental income for December 2022
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
| 2023 | 2024 | 2025 | |
|---|---|---|---|
| No. of tenancies expiring | 33 | 10 | 2 |
| NLA of tenancies expiring | 197,976 sq ft | 50,509 sq ft | 7,048 sq ft |
| NLA of tenancies expiring as % of total NLA | 63.7% | 16.3% | 2.3% |
| % of total monthly rental income[2] | 75.7% | 22.8% | 1.5% |
[2] Based on monthly rental income for December 2022
Kulim Central
Kulim Central is the only shopping centre in Kulim, Kedah and it was acquired by Hektar REIT in 2012.
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.
Kulim Central’s occupancy rate remained sterling at 96%, maintaining occupancy rates of above 90% since 2012, while its reversion rate remains positive at 22%. The positive effects from the asset enhancement initiative in 2017 continues till today with new brands such as Switch, Daboba Go, Samsung and Myeong Dong Topokki, thereby enhancing the vibrancy of the tenancy mix in the mall.
| 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 2022
| 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 | RM 98.0 million |
| Valuation | RM138.0 million |
| Tenants | 73 (only NLA lots) |
| Occupancy | 96.4% |
| Visitor traffic | 2.9 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[1] | |
|---|---|---|---|---|---|
| Top 10 tenants (by monthly rental income) | 204,371 | 68.2% | 46.0% | ||
| Other tenants | 95,410 | 31.8% | 54.0% | ||
| Total | 299,781 | 100.0% | 100.0% | ||
| 1 | Giant Superstore | Department Store/Supermarket | 72,140 | 24.1% | 14.0% |
| 2 | The Store | Department Store/Supermarket | 51,701 | 17.2% | 8.4% |
| 3 | Seleria Food Court | Food & Beverage/Food Court | 4,398 | 1.5% | 5.2% |
| 4 | GSC | Leisure & Entertainment/Sports & Fitness | 24,000 | 8.0% | 4.5% |
| 5 | Ole Ole Super Bowl | Leisure & Entertainment/Sports & Fitness | 23,670 | 7.9% | 2.8% |
| 6 | Watson's | Health & Beauty | 2,238 | 0.7% | 2.4% |
| 7 | MR. D.I.Y. | Homewares & Furnishing | 11,711 | 3.9% | 2.3% |
| 8 | Hasani Bookstore | Gifts/Books/Toys/Specialty | 5,228 | 1.7% | 2.2% |
| 9 | Pizza Hut | Food & Beverage/Food Court | 3,530 | 1.2% | 2.1% |
| 10 | Hanzo | Fashion & Footwear | 5,755 | 1.9% | 2.0% |
|
Giant Superstore Department Store/Supermarket 72,140 square foot NLA 24.1% of total NLA 14.0% of monthly rental income[1] |
|
The Store Department Store/Supermarket 51,701 square foot NLA 17.2% of total NLA 8.4% of monthly rental income[1] |
|
Seleria Food Court Food & Beverage/Food Court 4,398 square foot NLA 1.5% of total NLA 5.2% of monthly rental income[1] |
|
GSC Leisure & Entertainment/Sports & Fitness 24,000 square foot NLA 8.0% of total NLA 4.5% of monthly rental income[1] |
|
Ole Ole Super Bowl Leisure & Entertainment/Sports & Fitness 23,670 square foot NLA 7.9% of total NLA 2.8% of monthly rental income[1] |
|
Watson's Health & Beauty 2,238 square foot NLA 0.7% of total NLA 2.4% of monthly rental income[1] |
|
MR. D.I.Y. Homewares & Furnishing 11,711 square foot NLA 3.9% of total NLA 2.3% of monthly rental income[1] |
|
Hasani Bookstore Gifts/Books/Toys/Specialty 5,228 square foot NLA 1.7% of total NLA 2.2% of monthly rental income[1] |
|
Pizza Hut Food & Beverage/Food Court 3,530 square foot NLA 1.2% of total NLA 2.1% of monthly rental income[1] |
|
Hanzo Fashion & Footwear 5,755 square foot NLA 1.9% of total NLA 2.0% of monthly rental income[1] |
|
Top 10 tenants (by monthly rental income) 204,371 square foot NLA 68.2% of total NLA 46.0% of monthly rental income |
|
Other tenants 95,410 square foot NLA 31.8% of total NLA 54.0% of monthly rental income |
|
Total 299,781 square foot NLA 100.0% of total NLA 100.0% of monthly rental income |
[1] Based on monthly rental income for December 2022
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
| 2023 | 2024 | 2025 | |
|---|---|---|---|
| No. of tenancies expiring | 47 | 16 | 10 |
| NLA of tenancies expiring | 147,508 sq ft | 117,465 sq ft | 23,990 sq ft |
| NLA of tenancies expiring as % of total NLA | 23.2% | 39.2% | 8.0% |
| % of total monthly rental income[2] | 57.0% | 32.9% | 10.1% |
[2] Based on monthly rental income for December 2022
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.
Following the acquisition of the mall by Hektar REIT, the mall was rebranded from “1Segamat” to Segamat Central, as it is known today. The 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.
In 2022, Segamat Central’s occupancy rate improved to about 74% from 67% in 2021 while visitor traffic increased by about 147% to about 1.8 million visits from around 700,000 visits in 2021. We welcomed the entry of new retailers such as Dees, In Fashion, Mi Store, Muzaina Collection, Samsung, CHK Trading and Honor in 2022.
| Title | Leasehold |
|---|---|
| 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 2022
| Primary trade area | 190,000 within 20 minutes drive time |
|---|---|
| Gross floor area | 486,789 square foot |
| Net lettable area | 211,919 square foot |
| Car park | 389 bays |
| Acquisition price | RM104.0 million |
| Valuation | RM65.0 million |
| Tenants | 35 (only NLA lots) |
| Occupancy | 73.7% |
| Visitor traffic | 1.8 million per annum |
- MM Cineplexes
- Mi Store
- MR. D.I.Y.
- Sportz / HT Jeans
- XES Premium
Top 10 tenants
| Tenant | Trade sector | NLA (sq ft) | % of total NLA | % of monthly rental income[1] | |
|---|---|---|---|---|---|
| Top 10 tenants (by monthly rental income) | 74,982 | 35.4% | 63.1% | ||
| Other tenants | 136,937 | 64.6% | 36.9% | ||
| Total | 211,919 | 100.0% | 100.0% | ||
| 1 | MM Cineplexes | Leisure & Entertainment/Sports & Fitness | 32,432 | 15.3% | 21.4% |
| 2 | Mi Store | Electronics & IT | 5,565 | 2.6% | 7.3% |
| 3 | MR. D.I.Y. | Homewares & Furnishing | 13,896 | 6.6% | 7.1% |
| 4 | Sportsz / HT Jeans | Fashion & Footwear | 4,898 | 2.3% | 4.5% |
| 5 | XES Premium | Fashion & Footwear | 1,991 | 0.9% | 4.2% |
| 6 | Switch | Electronics & IT | 1,184 | 0.6% | 4.1% |
| 7 | KFC | Food & Beverage/Food Court | 3,240 | 1.5% | 3.8% |
| 8 | Popular Bookstore | Gifts/Books/Toys/Specialty | 4,898 | 2.3% | 3.6% |
| 9 | AD Jeans | Fashion & Footwear | 3,218 | 1.5% | 3.5% |
| 10 | Siam Restaurant | Food & Beverage/Food Court | 3,660 | 1.7% | 3.4% |
|
MM Cineplexes Leisure & Entertainment/Sports & Fitness 32,432 square foot NLA 15.3% of total NLA 21.4% of monthly rental income[1] |
|
Mi Store Electronics & IT 5,565 square foot NLA 2.6% of total NLA 7.3% of monthly rental income[1] |
|
MR. D.I.Y. Homewares & Furnishing 13,896 square foot NLA 6.6% of total NLA 7.1% of monthly rental income[1] |
|
Sportsz / HT Jeans Fashion & Footwear 4,898 square foot NLA 2.3% of total NLA 4.5% of monthly rental income[1] |
|
XES Premium Fashion & Footwear 1,991 square foot NLA 0.9% of total NLA 4.2% of monthly rental income[1] |
|
Switch Electronics & IT 1,184 square foot NLA 0.6% of total NLA 4.1% of monthly rental income[1] |
|
KFC Food & Beverage/Food Court 3,240 square foot NLA 1.5% of total NLA 3.8% of monthly rental income[1] |
|
Popular Bookstore Gifts/Books/Toys/Specialty 4,898 square foot NLA 2.3% of total NLA 3.6% of monthly rental income[1] |
|
AD Jeans Fashion & Footwear 3,218 square foot NLA 1.5% of total NLA 3.5% of monthly rental income[1] |
|
Siam Restaurant Food & Beverage/Food Court 3,660 square foot NLA 1.7% of total NLA 3.4% of monthly rental income[1] |
|
Top 10 tenants (by monthly rental income) 74,982 square foot NLA 35.4% of total NLA 63.1% of monthly rental income |
|
Other tenants 136,937 square foot NLA 64.6% of total NLA 36.9% of monthly rental income |
|
Total 211,919 square foot NLA 100.0% of total NLA 100.0% of monthly rental income |
[1] Based on monthly rental income for December 2022. Note: changes in NLA due to reconfiguration.
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
| 2023 | 2024 | 2025 | |
|---|---|---|---|
| No. of tenancies expiring | 14 | 15 | 6 |
| NLA of tenancies expiring | 57,839 sq ft | 79,965 sq ft | 18,341 sq ft |
| NLA of tenancies expiring as % of total NLA | 27.3% | 37.7% | 8.7% |
| % of total monthly rental income[2] | 45.6% | 37.9% | 16.5% |
[2] Based on monthly rental income for December 2022