What we do
We leverage on our skillset and knowledge in retail asset and property management to deliver growth and performance improvement of our asset portfolio.
Frasers Centrepoint Trust has a proven track record of delivering steady financial and operational performance that underpin its objectives of delivering stable distributions and long-term capital growth to its unitholders through a combination of organic, asset enhancement and acquisition strategies.
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Overview
Frasers Centrepoint Trust’s portfolio comprises six suburban malls, all located in Singapore. They are, in descending order of size, Causeway Point, Northpoint City North Wing (inclusive of Yishun 10 retail podium), Changi City Point, Bedok Point, YewTee Point and Anchorpoint.
FCT's malls are located next to or near the MRT stations and bus interchanges and in populous residential areas, hence they enjoy high shopper traffic comprising residents and the commuters. As a mall owner, FCT strives to offer pleasant and comfortable shopping experience for its shoppers that will encourage them to keep coming to its malls. For its tenants, FCT strives to be a fair and value-adding landlord through competitive lease rates, upkeep and enhancement of its malls to sustain high shopper traffic. In short, FCT strives to be the mall of choice to its tenants and shoppers.
Malls Location
Portfolio Summary
| Causeway Point | Northpoint City North Wing2 | Yishun 10 Retail Podium | Changi City Point | Bedok Point | YewTee Point | Anchorpoint | |
|---|---|---|---|---|---|---|---|
|
Net Lettable Area1 (sq ft) |
415,626 | 218,172^ | 10,412 | 207,239 | 82,713 | 73,670 | 70,989 |
| Number of leases | 223 |
157 |
9 | 118 | 40 |
68 |
55 |
| Title | 99 years leasehold w.e.f 30 Oct 1995 (77 years remaining) |
99 years leasehold w.e.f 1 April 1990 (71 years remaining) |
60 years leasehold w.e.f 30 April 2009 (51 years remaining) |
99 years leasehold w.e.f 15 Mar 1978 (59 years remaining) |
99 years leasehold w.e.f. 3 Jan 2006 (87 years remaining) |
Freehold | |
| Year Purchased |
2006 |
Northpoint 1: 2006 Northpoint 2: 2010 |
2016 | 2014 |
2011 |
2010 |
2006 |
| Purchase Price |
$606.17 million |
Northpoint 1: $249.27 million Northpoint 2: $164.55 million |
$37.8 million | $305.0 million |
$127.0 million |
$125.65 million |
$36.02 million |
| Appraised Value | $1,190 million | $733 million | $39.5 million | $318 million | $105 million | $178 million | $104.6 million |
| As % of Total Portfolio Appraised Value |
44.6% | 27.5% | 1.5% | 11.9% | 3.9% | 6.7% | 3.9% |
| FY2017 Gross Revenue ($'000) | 84,723 |
44,962 |
24,536 | 7,338 | 14,448 | 8,521 | |
| FY2017 Net Property Income ($'000) | 65,539 |
33,333 |
15,932 | 3,663 | 10,049 | 4,633 | |
| Occupancy rate | 99.5% |
81.6%# |
88.5% | 85.2% | 95.7% | 96.2% | |
| Key Tenants by Gross Rental Income | Metro, Courts, Cold Storage supermarket, Cathay Cineplexes, Food Republic, Uniqlo | Kopitiam food court, Cold Storage supermarket, OCBC Bank, United Overseas Bank, MayBank, McDonald's restaurant and Popular bookstore | Kopitiam food court, Uniqlo, Nike, Tung Lok and Challenger |
Harvey Norman Store, GymmBoxx, Sushi Express, SSiksin Korean BBQ | NTUC FairProce, Koufu food court, Watson's and KFC | Cold Storage supermarket, Bukang Korean BBQ & Seafood, Koufu food court, Xin Wang Hong Kong Café, Sakuraya, Charles & Keith and Cotton On | |
| Annual Shopper Traffic in FY2017 (million) | 24.5 |
41.3 |
12.3 | 4.4 | 12.7 | 3.2 | |
| Connectivity | Woodlands MRT Station (North South Line and future Thomson-East Coast Line) & bus interchange | Yishun MRT Station (North South Line) & bus interchange | Expo MRT station (East West Line and Downtown Line) | Bedok MRT Station (East West Line) & bus interchange | YewTee MRT Station (North South Line) & bus stop | Near Queenstown MRT Station (East West Line) & bus stop | |
Notes
- Net Lettable Area as stated in valuation reports dated 30 September 2017 for the respective malls
- Northpoint City North Wing was formerly known as Northpoint Shopping Centre
- ^ The NLA was reduced from 225,032 sq ft (as reported in FY2016 valuation report) to 218,172 sq ft due to reconfiguration of the area in conjunction with the asset enhancement initiative works (AEI)
- # The property's operating performance and occupancy in FY2017 was affected by the AEI.
FCT Property Portfolio
Investment in Hektar
As at 30 September 2017, FCT holds 31.15% of the units in Hektar Real Estate Investment Trust (“H-REIT”). H-REIT, an associate of FCT, is a retail-focused REIT in Malaysia listed on the Main Market of Bursa Malaysia Securities Berhad.
Its property portfolio comprises Subang Parade (Selangor), Mahkota Parade (Melaka), Wetex Parade (Johor), Central Square (Kedah), Landmark Central (Kedah) and Segamat Central (Johor). H-REIT acquired Segamat Central (Johor), previously known as 1Segamat, on 18 September 2017.
The properties in H-REIT portfolio have a total net lettable area of 2.0 million square feet.
More information on H-REIT’s portfolio can be found from its website.
Hektar Property Profile#
(as at 31 Dec 2016)
| Selected Property Highlights | Subang Parade | Mahkota Parade | Wetex Parade | Central Square | Landmark Central | Segamat Central* |
|---|---|---|---|---|---|---|
| State | Selangor | Melaka | Johor | Kedah | Kedah | Johor |
| Title | Freehold | Leasehold(a) | Freehold | Freehold | Freehold | Leasehold(b) |
| Net Lettable Area (Retail) | 507,150 sq ft | 519, 542 sq ft | 159, 153 sq ft | 311, 230 sq ft | 281, 388 sq ft | 223, 439 sq ft (c) |
| Occupancy | 93.0% | 96.4% | 100.0% | 96.6% | 98.9% | 95.9%(c) |
| Visitor Traffic FY20 | 9.2 million | 9.4 million |
4.6 million | 3.9 million | 3.0 million | NA |
| Purchase Price RM | 287.0 million | 257.5 million | 117.5 million | 83.3 million | 98.0 million | 104.0 million |
| Valuation RM | 427.2 million | 322.4 million | 135.2 million | 95.7 million | 112.0 million | 105.0 million(d) |
Notes:
- (a) Leasehold is until year 2101
(b) Leasehold is until year 2100
(c) as at 30 June 2017
(d) as at 22 June 2017
* Segamat Central was acquired by H-REIT on 18 September 2017
# Source: H-REIT Annual Report 2016 and its website [accessed: 8 November 2017]
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