Starhill Global REIT Wins Arbitration in Australia

MT Newswires

01/23

Starhill Global REIT (SGX:P40U) received a favorable partial final arbitral award from its dispute with tenant, Myer, over an alleged breach of the lease for the Myer store in Myer Centre, Adelaide, Australia, according to a Thursday filing with the Singapore Exchange.

Shares of the REIT were up nearly 1% in Friday trading.

The REIT incurred costs of around AU$5 million in legal and professional fees and now awaits a separate costs award that will allow its manager partial recovery of incurred expenses.

The Myer property occupies around 324,000 square feet in Myer Centre Adelaide and contributed around 7% of the REIT's total portfolio revenue and 8.9% of its net property income for the fiscal year ended June 30, 2025.

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