LINK REIT Accelerates Capital Recycling, CLSA Reiterates Outperform Rating

Stock News07-22

CLSA has released a research report commenting on LINK REIT (00823)'s recent announcement. The trust has agreed to sell its 50% interest in the trust structure holding 100 Market Street in Sydney to an entity under Aware Super for A$225.9 million (approximately HK$1.24 billion).

The transaction price represents 50% of the property's independent valuation of A$451.8 million as of the end of May 2026. While the execution timing is earlier than anticipated, the move aligns with management's established strategy of divesting 5% to 10% of non-core assets from the portfolio.

CLSA has maintained its target price of HK$48.5 and an "Outperform" rating for LINK REIT, reiterating that the stock remains one of its preferred picks. The firm notes that LINK REIT's current plan is to use the net proceeds from the sale for unit buybacks and reinvestment into its core retail property portfolio across the Asia-Pacific region.

This buyback initiative will supplement the ongoing repurchase program supported by the sale of Swing By @ Thomson Plaza. CLSA believes this will provide additional support for the fund's unit price.

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