Takeaways from virtual property conference
■ Rental reversion at Three Garden Road Office is likely to be negative in FY21F as Champion intends to retain tenants whose leases soon expire.
■ Management expects further expansion of lifestyle-related tenants at Langham Place Office to cater to higher demand for health and wellness.
■ A further decline in base rent at Langham Place Mall is likely in FY21F despite a likely rebound in turnover rent. Reiterate Hold.