Frasers Property (formerly: Frasers Cpt (FCL))

(17-04-2015, 11:33 AM)corydorus Wrote: I went to the showflat. The integrated development is certainly a plus. They even have the community center/area built-in.

One think i notice is that there are a lot of pools designed into North Park. The actual build space if i am not wrong is about 1/3 of the whole area only. Maybe crowd capacity should be measure by ratio between buildup living space vs total condo land area ? Alternatively number of units psf ? Not sure is there a benchmark to be based.

Being vested in this Reit, will they need to raise money considering this development is Huge ?

Pardon me? Frasers Centrepoint is a property Developer, not a REIT. Please do not get confused

Australand wins new office tenants

Nick Lenaghan
379 words
17 Apr 2015
The Australian Financial Review
AFNR
English
Copyright 2015. Fairfax Media Management Pty Limited.

Diversified property player Australand, which was taken over by Frasers Centrepoint last year, has locked in a series of suburban office deals in Melbourne in recent weeks.

The transactions include commitments from Repco at Australand's Rowville development, and from Mazda and Monash University at its Mulgrave estate.

"The recent activity demonstrates the market's appetite for high-quality business park space with good amenity and access to transport," said Anthony Maugeri, general manager for commercial and industrial in the southern region.

Sean McMahon, executive general manager for commercial and industrial, said many of Australand's industrial tenants also took up tenancies in its suburban business parks.

"Coles, Kmart, and Toll are large industrial customers of ours and we have also housed them in suburban business park accommodation. And in respect of these new transactions, Repco and Mazda are also industrial customers."

GPC Asia Pacific has committed to a 12-year lease for its local operations, including the Repco Australia support office.

The development will be designed and constructed by Australand at its Stamford Business Estate on Stud Road in Rowville. The 4000-square-metre office building will have an end value of around $20 million when completed late next year.

John Moller, managing director of GPC Asia Pacific, said the investment follows the addition of 44 stores to the company's portfolio since April 2013.

It has also committed to delivering a new 21,900-square-metre distribution centre in Brisbane this year.

Meanwhile, at Mulgrave, in Melbourne's south-east, Australand's new estate on Wellington Road is winning new tenants. It was launched in late 2014 and is a joint venture between Australand and CIP.

Monash University has committed to 7825 sq m of a 12,718 sq m seven-storey development. The deal was struck at a net face rent of $369 per sq m, including car parking.

Also at Mulgrave, Australand has struck a pre-lease with Mazda Australia for the design and construction of its new national headquarters.

The two-storey office, showroom and warehouse development will be 6710 sq m when completed next year. Mazda has committed to an initial 10-year lease at a net face rent of approximately $370 per sq m.


Fairfax Media Management Pty Limited

Document AFNR000020150416eb4h0001m

(18-04-2015, 01:44 PM)MINX Wrote:

(17-04-2015, 11:33 AM)corydorus Wrote: I went to the showflat. The integrated development is certainly a plus. They even have the community center/area built-in.

One think i notice is that there are a lot of pools designed into North Park. The actual build space if i am not wrong is about 1/3 of the whole area only. Maybe crowd capacity should be measure by ratio between buildup living space vs total condo land area ? Alternatively number of units psf ? Not sure is there a benchmark to be based.

Being vested in this Reit, will they need to raise money considering this development is Huge ?

Pardon me? Frasers Centrepoint is a property Developer, not a REIT. Please do not get confused

I know that. However North Point is managed by FCT so was thinking is there connection to the malls to be build below the Condo as they are adjacent to it. Looks like is FCL managed which then answered my own question.

Thank you guru greengiraffe.

Indeed FCL management team are very 'on the ball' - planning industrial reit, getting new tenants for the investment properties.

The coy listed hospitality REIT last year and sold Changi Point retail to FCT. Probably take time to digest...

So likely this year will be FCOT buys over some assets from FCL...

(18-04-2015, 05:42 PM)greengiraffe Wrote: Australand wins new office tenants

Nick Lenaghan
379 words
17 Apr 2015
The Australian Financial Review
AFNR
English
Copyright 2015. Fairfax Media Management Pty Limited.

Diversified property player Australand, which was taken over by Frasers Centrepoint last year, has locked in a series of suburban office deals in Melbourne in recent weeks.

The transactions include commitments from Repco at Australand's Rowville development, and from Mazda and Monash University at its Mulgrave estate.

"The recent activity demonstrates the market's appetite for high-quality business park space with good amenity and access to transport," said Anthony Maugeri, general manager for commercial and industrial in the southern region.

Sean McMahon, executive general manager for commercial and industrial, said many of Australand's industrial tenants also took up tenancies in its suburban business parks.

"Coles, Kmart, and Toll are large industrial customers of ours and we have also housed them in suburban business park accommodation. And in respect of these new transactions, Repco and Mazda are also industrial customers."

GPC Asia Pacific has committed to a 12-year lease for its local operations, including the Repco Australia support office.

The development will be designed and constructed by Australand at its Stamford Business Estate on Stud Road in Rowville. The 4000-square-metre office building will have an end value of around $20 million when completed late next year.

John Moller, managing director of GPC Asia Pacific, said the investment follows the addition of 44 stores to the company's portfolio since April 2013.

It has also committed to delivering a new 21,900-square-metre distribution centre in Brisbane this year.

Meanwhile, at Mulgrave, in Melbourne's south-east, Australand's new estate on Wellington Road is winning new tenants. It was launched in late 2014 and is a joint venture between Australand and CIP.

Monash University has committed to 7825 sq m of a 12,718 sq m seven-storey development. The deal was struck at a net face rent of $369 per sq m, including car parking.

Also at Mulgrave, Australand has struck a pre-lease with Mazda Australia for the design and construction of its new national headquarters.

The two-storey office, showroom and warehouse development will be 6710 sq m when completed next year. Mazda has committed to an initial 10-year lease at a net face rent of approximately $370 per sq m.


Fairfax Media Management Pty Limited

Document AFNR000020150416eb4h0001m

When FCL will release its second quarter's financial report?

http://infopub.sgx.com/Apps?A=COW_CorpAn...uddies.com

After mkt close on 8 May 15, Friday

(22-04-2015, 04:59 PM)I_love_girls Wrote: When FCL will release its second quarter's financial report?

Parent company incorporated a development and trustee subsi... will be interesting to see how they can develop a Capri @ China Sq where the rights for redevelopment resides with FCOT... Post development and stabilise, Capri @ China Square is likely to be pipeline assets for FHT...

http://www.stproperty.sg/articles-proper...t/a/192876

China Square Central site eyed for serviced apartment
URA has given Frasers provisional permission for new work at complex
The Straits Times - December 17, 2014
By: Rennie Whang
China Square Central site eyed for serviced apartmentProperty firm Frasers Hospitality is exploring the option of building a Capri by Fraser outlet at the China Square Central site. Capri units are hybrid hotel and serviced apartments and cater to guests on shorter stays.ST FILE PHOTO
A SERVICED apartment could be built at China Square Central, a development right in the heart of Chinatown.

Property firm Frasers Hospitality is eyeing the site for one of its Capri by Fraser outlets, The Straits Times understands.

The company already has a Capri near Changi Airport.

Frasers Commercial Trust (FCOT), a related entity which owns China Square Central, said the Urban Redevelopment Authority has given provisional permission for new work at the complex at 18, Cross Street.

This includes possible alterations to the centre as well as an additional gross floor area of 172,223 sq ft for hotel use. The site, which had an assigned gross plot ratio of 4.2, has also been rezoned to have no gross plot ratio.

FCOT's manager is "still evaluating and exploring all options" on the property, which may be subject to other regulatory approvals, as well as commercial and financial viability, it said, adding that "no decision has been made".

Frasers Hospitality operates the 313-unit Capri by Fraser in Changi Business Park, which opened in 2012.

Capri units are hybrid hotel and serviced apartments and cater to guests on shorter stays.

Frasers Hospitality also operates four other brands - Fraser Suites, Fraser Residence, Fraser Place, and Modena by Fraser, which is focused on China.

While there are many boutique hotels in the Chinatown area, plus the 367-room Parkroyal on Pickering, there is just one serviced apartment - Ascott Raffles Place, said Mr Desmond Sim, CBRE research head for Singapore and South-east Asia.

Ms Chia Siew Chuin, director of research and advisory at Colliers International, said the serviced apartment sector is generally considered more resilient and less volatile than the hotel market due to the longer average length of stay. At the same time, rising demand for shorter stays has meant the emergence of a new class of serviced apartments with hotel licences, she said.

Apart from Capri, these include the Ascott Raffles Place and the Pan Pacific Serviced Suites Beach Road.

Experts note that there appears to be an ample supply of hotel rooms, with no urgency for new construction given the falling tourist numbers on the back of uncertainties in the region, including the political events in Thailand.

No hotel sites feature in the first half of next year's Government Land Sales programme.

CBRE's Mr Sim said that the plans for Chinatown would support retail activities in the area.

http://infopub.sgx.com/Apps?A=COW_CorpAn...HICSPL.pdf

FRASERS CENTREPOINT LIMITED
(Incorporated in the Republic of Singapore)
(Company Registration No. 196300440G)
INCORPORATION OF SUBSIDIARIES
Pursuant to Rule 704(17)© of the Listing Manual of the Singapore Exchange Securities
Trading Limited, Frasers Centrepoint Limited wishes to announce that it has incorporated the
following wholly-owned subsidiaries in Singapore:
1) “Frasers Hospitality China Square Trustee Pte. Ltd.” (“FHCSTPL”) with an initial
issued share capital of S$2.00. It is envisaged that FHCSTPL will provide trustee and
management services to a trust in connection with the acquisition of and/or investment
in property in Singapore; and
2) “Frasers Hospitality Investments China Square Pte. Ltd.” (“FHICSPL”) with an initial
issued share capital of S$2.00 as an investment holding company.
BY ORDER OF THE BOARD
Piya Treruangrachada
Company Secretary
24 April 2015

Looks like the pace of going asset light on FCL is accelerating. FCL owns 27.6% of FCOT. FCL also own 41.2% of FCT and 22% of FHT.

Vested
Core Holdings
GG

http://www.valuebuddies.com/thread-1342-...#pid111553

For FCOT, the pipeline from FCL will comprise mainly offices as ind prop rumoured to be floated off on ASX.

If TFS Collins refers to 351-357 Collins St, Melbourne, Vic then it is worth S$235.521m on FCL books. Australand commercial is worth S$2766m comprising both office and Industrial properties.

Based on FCL annual report and my breakdown there are 11.5 offices comprising:

i) 4.5 offices in Melbourne, Vic worth S$742.936m;

ii) 7 offices in NSW worth S$571.172m;

iii) balance are ind prop that is rumoured to be spinoff as an ind prop REIT on ASX with a pipeline worth S$1452m.

Based on FCL's offer document for ALZ, the investment prop division was valued @ A$2531m and last valued in annual report to FY9/14 for S$2766m.

http://www.valuebuddies.com/thread-1342-...#pid111593

Fast and Furious but impact on FCL yet to be revealed...

Interestingly, only 357 Collins sold wonder if 351 and 355 are standalone addresses otherwise FCL-Australand could have incurred small losses which is very unlikely for asset light transactions...

Vested
Core Holdings
GG

Aussie ind prop for SGX listing??? Doesn't quite make sense but at least there is no smoke without fire... as long as there is unlocking and deleveraging, its good for FCL holders...

"Frasers Centrepoint is separately advancing plans to set up a Singapore industrial fund, consisting of stabilised Australian industrial property assets."


Frasers Centrepoint in $222m Melbourne tower deal
THE AUSTRALIAN APRIL 28, 2015 12:00AM

Ben Wilmot

Commercial Property Editor
Sydney
Frasers in $222m city tower deal
Charoen Sirivadhanabhakdi, who controls Frasers Centrepoint, with son Thapana. Picture: Bloomberg Source: News Limited
Singapore-listed Frasers Centrepoint, controlled by Thai ­tycoon Charoen Sirivadhanabhakdi, has carved a Melbourne office tower out of Australand’s $3 billion commercial property trust and sold it into a listed real estate investment trust it manages.

The company, which acquired Australand last year via a $2.6bn takeover, yesterday unveiled a deal to sell 357 Collins Street to its affiliated Frasers Commercial Trust (FCOT) for $222.5 million.

The conditional sale and purchase agreement is the first time part of the Australand portfolio has been peeled off into a Frasers-run trust. It is the largest office sale to be struck in Melbourne this year and represents the Singapore vehicle’s entry into the city.

The chief executive of the fund manager, Low Chee Wah, noted the significance of FCOT’s entry into the Melbourne CBD market, the second largest in Australia.

“This will complement and diversify FCOT’s exposure from its existing portfolio in Perth and Canberra in Australia,” he said. “With Collins Street being regarded as a prime office location in the Melbourne CBD, good connectivity and Grade A specifications of the property, 357 Collins Street is set to be a strategic addition to FCOT’s portfolio.”

Mr Low said the acquisition would lift FCOT’s portfolio size by 14.2 per cent to $S2bn ($1.92bn) and is expected to lift distributions per unit for investors.

Frasers Centrepoint is separately advancing plans to set up a Singapore industrial fund, consisting of stabilised Australian industrial property assets.

Frasers Centrepoint chief executive Lim Ee Seng flagged the plan last November, saying then that the group could shift some of the Australand properties into Singapore REITs.

The timing could depend on Australand’s expected exit from its $450m logistics venture with GIC, which is selling out of all its Australian industrial holdings.

Frasers and Australand have declined to comment on the plan but creating a fourth REIT for industrial assets is part of planning for the Australian business.

Situated in the heart of Melbourne, 357 Collins Street is a 25 storey A-Grade office tower that spans a total net leaseable area of 31,920sq m. This comprises office space of 30,095sq m and 1825sq m of retailing.

The tower has a roster of quality tenants, including Commonwealth Bank, Meridian Lawyers and Wilson HTM. It has an occupancy rate of 95.5 per cent and a long-weighted average lease expiry by income of six years.

Most floor plates are greater than 1000sq m.

The price was in line with valuations of $227m by JLL and $224m by Knight Frank.

The Melbourne purchase will be financed through a mix of debt and equity.