CDLHT posts 11.9% fall in H2 DPS to S$0.0281

CDL Hospitality Trusts’ recently acquired living assets in the United Kingdom will contribute to the group’s sustained growth and ensure it has a diversified and balanced income profile, the stapled group’s managers said at its full-year results briefing on Monday (Jan 27).

“The idea behind our change in our mandate to include living asset classes is to secure stable, long-term growth and income resilience. Generally, the demographic profile for higher education is very favourable,” said Vincent Yeo, chief executive officer of CDLHT’s managers.

The 404-bed Benson Yard, a purpose-built student accommodation (PBSA) building in Liverpool which CDLHT acquired in December 2024, had a committed occupancy of 95.5 per cent as at Dec 31. Leasing for the upcoming academic year began a few months ago and is currently ahead of the previous academic year’s pace, the managers said.

“The prospects for these assets are very good notwithstanding the weak UK economy,” Yeo said.

The group also sees “very strong demand” for The Castings, a residential build-to-rent asset it owns in Manchester. With high interest rates, mortgage rates are at a very high level in the UK, fuelling demand from renters, Yeo said.

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