Ascott REIT Issues Notice of Forfeiture to Park Hotel Tenant

News about Ascott Residence Trust

Ascott REIT is having issues with its tenant at Park Hotel Clark Quay (Singapore):

Under the Notice issued today, the Tenant is required to make payment of the total sum of S$5,922,268.89 which is outstanding from the Tenant under the Master Lease as of 25 June 2021, by 5 p.m. on 30 June 2021, failing which Ascott Reit will take steps to repossess the Property and liaise with the Tenant to ensure a smooth handover of the Property and the hotel operations, and the Master Lease will then be terminated.

Ascott Residence Trust
Price1.020 SGD
NAV1.190 SGD
Yield (4 quarters)3.95%
Gearing35.9%