MANAGER’S REPORT
Operations Review
PORTFOLIO LEASE PROFILE
The average lease tenure for specialty tenants in our portfolio ranges between
three to five years whilst the same for anchor tenants is ten years. The total
weighted average lease term for the portfolio as of 31 December 2015 was 4.91
years. For new leases commencing in 2015, the weighted average lease expiry
as at 31 December 2015 was 3.83 years and accounted for 16.5% of the gross
rental income.
36%
8%
23%
11%
8%
2016
2017
2018
2019
2020 & Beyond
Lease Expiry Profile by NLA as at 31 December 2015
40%
30%
20%
10%
0%
WEIGHTED AVERAGE OCCUPANCY
As of 31 December 2015, LMIR Trust’s portfolio occupancy of 94% remained higher
than the industry average of 84.7% as reported in Cushman & Wakefield’s 4th
Quarter 2015 MarketBeat report.
No.
Property
FY2015
*
FY2014
*
1
Bandung Indah Plaza
99.8%
99.9%
2
Cibubur Junction
99.0%
98.6%
3
Ekalokasari Plaza
92.3%
94.1%
4
Gajah Mada Plaza
75.9%
77.1%
5
Istana Plaza
100.0%
99.7%
6
Mal Lippo Cikarang
99.1%
99.9%
7
The Plaza Semanggi
80.2%
90.3%
8
Sun Plaza
98.3%
97.9%
9
Plaza Medan Fair
97.8%
97.8%
10 Pluit Village
87.7%
87.7%
11 Lippo Plaza Kramat Jati
91.9%
86.8%
12 Palembang Square Extension
94.4%
99.8%
13 Tamini Square
100.0%
100.0%
14 Palembang Square
92.6%
97.4%
15 Pejaten Village
99.0%
99.3%
16 Binjai Supermall
93.2%
90.4%
17 Lippo Mall Kemang
93.2%
93.2%
18 Lippo Plaza Batu**
98.3%
–
19 Palembang Icon**
99.3%
–
A Mall Portfolio
93.2%
93.9%
B Retail Spaces
100.0%
100.0%
A+B Total Portfolio
94.0%
94.7%
*
Include temporary leasing
** Newly acquired malls in 2015
ANNUAL REPORT 2015
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