BHG Retail REIT has reported a weighted average lease expiry (WALE) of 2.8 years by gross rental income in its 1QFY2025 ended March 31, business update.

By committed net lettable area (NLA), the REIT’s WALE is 4.9 years.

As at end March, the REIT reported at 94.9% committed occupancy rate over six properties with a total valuation of RMB7.73 billion.

For the period ending March 31, the REIT successfully rolled over Secured Term Loan facilities for three years in March.

The REIT’s gearing ratio as at end March is 40.2%, average cost of debt is 5%, interest coverage ratio is 1.8 times and aggregate borrowings drawn down is $298.6 million.

Units in BHG closed 7 cents lower or 15.217% down at 39 cents on May 23.