Portfolio overview
The CKT portfolio comprises 20 neighbourhood shopping centres located in urban and suburban areas of Japan.
Each of the properties is well located and convenient to residential areas and transportation. The portfolio is well diversified by geographic location and tenant type, is 100% occupied and has an intial average age of only 5.7 years (excludes land lease calculated at 30 June 2009).
Cash flows from the properties are underpinned by leases with long specified terms and regular rent reviews. The portfolio's weighted average specified lease term was 15.3 years* (as at 30 June 2009).
* Assumes tenants do not terminate leases prior to specified lease term. Some leases can be terminated at the tenant's option, some with payment of break penalties, prior to the end of the specificed lease term.