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HPE and HPS are not great companies to lease to anymore,... lots of risks there,.... better rent at a higher rate to 'compensate' fro the risks involved,....
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Financial Results for the Financial Year ended 30 September 2017 ("FY17")
Highlights :
1. Gross Revenue for FY17 was SGD 156.551 million
2. FCOT’s FY17 distributable income up 1.3% year-on-year to S$78.6 million
3. FY17 DPU of 9.82 cents in-line with FY16
4. Obtained Provisional Permission from URA for asset enhancement to rejuvenate and reposition retail podium of 18 Cross Street, China Square Central
5. Full occupancies at Caroline Chisholm Centre and 357 Collins Street provide stability
6. No refinancing requirements until August 2018
7. Distribution Per Unit for 4Q FY17 was 2.41 cent.
More details in
http://infopub.sgx.com/Apps?A=COW_CorpAn...uddies.com
Specuvestor: Asset - Business - Structure.
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FCOT divests 55 Market Street for S$216.8 million
Highlights :
1. Divestment at 45% premium to valuation unlocks significant value and creates headroom for future growth initiatives
2. In-line with the Manager’s proactive portfolio and capital management to deliver long-term growth
3. The sale consideration of S$216.8 million is equivalent to S$3,020 per square foot based on the building’s net lettable area
4. The sale consideration represents a 44.5% premium above the property’s valuation of S$150.0 million as at 1 July 2018 and almost 3 times the original purchase price of S$72.5 million in 2006.
Located in Raffles Place, Singapore, 55 Market Street is a 16-storey commercial building comprising 15 floors of office space and two floors of retail space on the ground floor and basement level. The property has a total net lettable area of 71,796 square feet and a committed occupancy of 87.9% as at 31 March 2018. The property constituted approximately 6.3% of FCOT’s property portfolio value as at 31 March 2018 and contributed approximately 3.5% of FCOT’s portfolio net property income for the quarter ended 31 March 2018.
More details in
http://infopub.sgx.com/FileOpen/FCOT%20-...eID=515852
Specuvestor: Asset - Business - Structure.
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Alexandra Technopark Secures A Major Tenant
Frasers Commercial Asset Management Ltd., in its capacity as manager of Frasers Commercial Trust ("FCOT", and as manager of FCOT), announced that British and Malayan Trustees Limited, as trustee of FCOT, had today entered into a lease agreement with Google Asia Pacific Pte. Ltd. for the latter to lease space at Alexandra Technopark.
Under the terms of the Lease, Google will take up around 344,100 square feet of space, representing approximately 33.3% of the current total net lettable area of the Property, for a term of five years commencing in the first quarter of 2020 (the “Term”). The average gross rent for the Term is comparable to recent signing rents for the Property.
Including the Lease, the committed occupancy rate for the Property is 93.7% as at the date of this announcement.
Specuvestor: Asset - Business - Structure.
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Frasers Logistics & Industrial Trust and Frasers Commercial Trust Announce Proposed Merger by way of Trust Scheme
* DPU accretive transactions for FLT and FCOT Unitholders on a pro forma basis
* Create a diversified portfolio valued at S$5.7 billion
* Top-10 S-REIT by market capitalisation with index representation
* Enlarged capital base with a broadened ROFR pipeline in excess of S$5.0 billion
* Scheme Consideration of S$1.680 per FCOT Unit at premium of c. 3.5% to 1-month VWAP
More details in :
1.
https://links.sgx.com/FileOpen/Joint_Ann...eID=589015
2.
https://links.sgx.com/FileOpen/Acquisiti...eID=589016
3.
https://links.sgx.com/FileOpen/Joint_Med...eID=589017
4.
https://links.sgx.com/FileOpen/FLT_Inves...eID=589018
5.
https://links.sgx.com/FileOpen/FCOT_Inve...eID=589019
Specuvestor: Asset - Business - Structure.