Macquarie DDR Trust has signed a number of leases during the September quarter – increasing the leased rate to 98.6%, up from 98.2% just three months earlier.
During the quarter, 15 new leases including seven master lease spaces and 15 renewals were written at an average rental increase of 9.6%.
This rate of rent growth compares favourably to the corresponding period last year when rents grew on average 7.1%. New leases written performed particularly well, generating average rent growth of 14.1%.
Macquarie DDR chief executive officer David Dix said the trust’s strong 2006 result has flowed into the September quarter with improving leasing results.
By Kathryn O’Meara
