On June 4th, Link Real Estate Investment Trust announced to acquire the Happy Valley Shopping Mall for the total cost of about RMB3.2 billion. The property is an 8-storey commercial development with a 4-storey basement comprising a retail area of approximately 90,113.41 sq m and a car park with 800 parking lots. According to the announcement, as the pandemic is gradually under control, the operation of property has stabilized and the occupancy rate is about 70.3% as of May 24, 2021.
Happy Valley Shopping Mall is the third retail investment Link REIT made in Greater Bay Area., reflecting the confidence in the capital value of those retail properties located in the core area of 1st-tier cities in GBA with strong customer base, convenient transportation, and sophisticated commercial atmosphere. Previously, Guangdong Government Work Report 2021 promotes to build Guangzhou and Shenzhen into global retail destinations. For Happy Valley Shopping Mall, with the upgrading and operation optimization, the property is expected to increase occupancy rate and realise higher rental income.
Source： 领展32.05亿收购广州天河太阳新天地购物中心 - 观点地产网 (guandian.cn)