VIT NPI jumps 18.3% to $20.6m in Q3

6 Chin Bee Avenue and Viva Business Park are on a tear for higher revenue.

Viva Industrial Trust's (VIT) net property income (NPI) for Q3 jumped 18.3% YoY to $20.6m.

According to OCBC Investment Research, revenue rose 16.8% YoY to $28.3m due to higher contributions from 6 Chin Bee Avenue and Viva Business Park (VBP).

Distribution per unit (DPU) also grew 5% YoY to 1.9 cents.

Analysts also believe the better accessibility at its hotel UE Bizhub will be a positive rental reversion catalyst.

The Downtown Line Station was also recently opened on 21 October 2017 at Expo.

OCBC Investment Research analyst Deborah Ong said, "We continue to see upside for VBP given that only 87.3ppt of the 96.2% committed occupancy for 'white space' contributed to 3Q17 income."