Overview

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.

 

Portfolio Summary

Causeway Point Northpoint City North Wing Yishun 10 Retail Podium Waterway Point1 Changi City Point YewTee Point Anchorpoint

Net lettable area

(NLA)

419,840 square feet 219,365 square feet2 10,344 square feet 371,382 square feet3 205,007 square feet4 73,669 square feet 71,213 square feet
Number of leases 213
167
202 123 71
52
Number of tenants 201
162
195 118 70
51
Title 99 years leasehold w.e.f 30 Oct 1995

99 years leasehold w.e.f 1 April 1990

99-year leasehold w.e.f 18 May 2011 99 years leasehold w.e.f 15 Mar 1978
Freehold
Year purchased
2006

Northpoint 1: 2006

Northpoint 2: 2010

2016 40% interest purchased in 2019 2014
2010
2006
Purchased price
$606.2 million

Northpoint 1: $249.3 million

Northpoint 2: $164.6 million

$37.8 million S$530.2 million for 40% interest $305.0 million
$125.7 million
$36.0 million
Valuation5 S$1,305.0 million S$771.5 million S$35.0 million S$1,300.0 million
(100.0% interest)
S$520.0 million
(40.0% interest)
S$338.0 million S$190.0 million S$110.0 million
As % of total portfolio appraised value6
39.9% 24.7% 15.9% 15.9% 10.3% 5.8% 3.4%
FY2020 Gross revenue S$73.24 million

44,962

24,536 S$ 26.21 million7 S$21.73 million S$12.49 million S$6.87 million
FY2020 Net property income S$52.93 million

33,333

15,932 S$19.50 million8 S$13.10 million S$8.31 million S$3.00 million
Occupancy 96.6 %

81.6%#

88.5% 96.0 % 90.4 % 97.1 % 92.7 %
Key tenants by Gross Rental Income Metro, Courts, Cold Storage supermarket, Food Republic, Cathay Cineplexes, 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
NTUC Fairprice, Koufu, Shaw Theatres, H&M, Cotton On Singapore Kopitiam food court, Uniqlo, Nike, Tung Lok and Challenger NTUC FairPrice, Koufu food court, Watson’s, KFC and Saizeriya Mr D.I.Y., Koufu food court, Cotton On, Xin Wang HK Café, Sakuraya, Uncle Leong Signatures seafood restaurant and Jack’s Place restaurant
Annual shopper traffic in FY2020 21.0 million

41.3

12.3 19.6 million 9.1 million 10.6 million 2.4 million
Connection to public transport Woodlands MRT Station (North South Line and Thomson-East Coast Line) & Bus Interchange Yishun MRT Station (North South Line) & Yishun Bus Interchange Punggol MRT station (North East Line) and LRT station, Punggol temporary bus interchange Expo MRT station (East West Line and Downtown Line 3) YewTee MRT station (North-South Line) & Bus Stop Near Queenstown MRT Station (East West Line) & Bus Stop
Causeway Point Northpoint City North Wing Yishun 10 Retail Podium Waterway Point1 Changi City Point YewTee Point Anchorpoint

Net lettable area

(NLA)

419,840 square feet 219,365 square feet2 10,344 square feet 371,382 square feet3 205,007 square feet4 73,669 square feet 71,213 square feet
Number of leases 213
167
202 123 71
52
Number of tenants 201
162
195 118 70
51
Title 99 years leasehold w.e.f 30 Oct 1995

99 years leasehold w.e.f 1 April 1990

99 years leasehold w.e.f 18 May 2011 60 years leasehold w.e.f 30 April 2009
99 years leasehold w.e.f 3 January 2006 Freehold
Year purchased
2006

Northpoint 1: 2006

Northpoint 2: 2010

2016 40% interest purchased in 2019 2014
2010
2006
Purchased price
S$606.2 million

Northpoint 1: S$249.3 million

Northpoint 2: S$164.6 million

$37.8 million S$530.2 million for 40% interest S$305.0 million
S$125.7 million
S$36.0 million
Valuation5 S$1,305.0 million S$771.5 million S$35.0 million S$1,300.0 million
(100.0% interest)
S$520.0 million
(40.0% interest)
S$338.0 million S$190.0 million S$110.0 million
As % of total portfolio appraised value6
39.9% 24.7% 15.9% 10.3% 11.9% 5.8% 3.4%
FY2020 Gross revenue S$73.24 million

S$44.40 million

S$ 26.21 million7 S$21.73 million S$12.49 million S$6.87 million
FY2020 Net property income S$52.93 million

S$31.53 million

S$19.50 million8 S$13.10 million S$8.31 million S$3.00 million
Occupancy 96.6 %

95.0 %

96.0 % 90.4 % 97.1 % 92.7 %
Key tenants Metro, Courts, Cold Storage supermarket, Food Republic, Cathay Cineplexes, Uniqlo Kopitiam food court, Cold Storage supermarket, OCBC Bank, United Overseas Bank, MayBank, McDonald’s restaurant, Popular bookstore, Sri Murugan Supermarket, Arnold’s Fried Chicken, Komala's @ Yishun 10 NTUC Fairprice, Koufu, Shaw Theatres, H&M, Cotton On Singapore Kopitiam food court, Uniqlo, Nike, Tung Lok and Challenger NTUC FairPrice, Koufu food court, Watson’s, KFC and Saizeriya Mr D.I.Y., Koufu food court, Cotton On, Xin Wang HK Café, Sakuraya, Uncle Leong Signatures seafood restaurant and Jack’s Place restaurant
Annual shopper traffic in FY2020 21.0 million

46.9 million9

19.6 million 9.1 million 10.6 million 2.4 million
Connection to public transport Woodlands MRT station (North-South Line and Thomson-East Coast Line) & Bus Interchange Yishun MRT station (North-South Line) & Yishun Bus Interchange Punggol MRT station (North East Line) and LRT station, Punggol temporary bus interchange Expo MRT station (East-West Line, and Downtown Line 3)/span> YewTee MRT Station (North South Line) & bus stop Near Queenstown MRT station (East-West Line) & Bus Stop

Notes

  1. Frasers Centrepoint Trust owns 40% interest in Sapphire Star Trust ("SST") which holds the interests in Waterway Point
  2. The NLA excludes the area of approximately 10,505 square feet (957.9 square meters) currently used as Community Sports Facilities Scheme (CSFS) space
  3. The NLA excludes the area of approximately 17,954 square feet (1,668 square meters) currently used as CSFS space
  4. The NLA excludes the area of approximately 3,391 square feet (315 square meters) currently used as CSFS space
  5. Based on valuation as at 15 September 2020 for the respective assets
  6. Waterway Point's proportion is based on FCT's 40% share in SST
  7. This is FCT's share of revenue in SST for FY2020
  8. This is FCT's share of net property income in SST for FY2020
  9. Combined shopper traffic for Northpoint City North Wing and South Wing
Investment in Hektar

Investment in Hektar

As at 30 September 2020, 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.

H-REIT’s property portfolio comprises Subang Parade (Selangor), Mahkota Parade (Melaka), Wetex Parade (Johor), Central Square (Kedah), Kulim Central (Kedah) and Segamat Central (Johor).

The properties in H-REIT portfolio have a total net lettable area of 2.0 million square feet and a combined value of RM1.24 billion.

More information on H-REIT’s portfolio can be found from its website. 

 

Hektar Property Profile#
(as at 31 Dec 2019)

  Subang Parade Mahkota Parade Wetex Parade Central Square Kulim Central Segamat Central
State Selangor Melaka Johor Kedah Kedah Johor
Title Freehold Leasehold (expires 2101) Freehold Freehold Freehold Leasehold (expires 2116)
Net Lettable Area (Retail),
square feet as at 31 Dec 2019
521,464 519,663 175,014 310,564 299,781 216,345
Tenancies as at 31 Dec 2019 120 110 71 55 76 51
Occupancy as at 31 Dec 2019 93.9% 96.4% 96.2% 89.7% 95.0% 77.1%
Visitor Traffic FY2019 (million) 7.6 8.4
4.2 4.5 4.6 3.0
Acquisition Price (million RM) 280.0 232.0 117.5 83.3 98.0 106.1
Valuation (million RM) as at 31 Dec 2019 440.0 329.0 144.5 97.0 130.0 96.0
Subang Parade Mahkota Parade Wetex Parade Central Square Kulim Central Segamat Central
State Selangor Melaka Johor Kedah Kedah Johor
Title Freehold Leasehold (expires 2101) Freehold Freehold Freehold Leasehold (expires 2116)
Net Lettable Area (Retail),
square feet as at 31 Dec 2019
521,464 519,663 175,014 310,564 299,781 216,345
Tenancies as at 31 Dec 2019 120 110 71 55 76 51
Occupancy as at 31 Dec 2019 93.9% 96.4% 96.2% 89.7% 95.0% 77.1%
Visitor Traffic FY2019 (million) 7.6 8.4
4.2 4.5 4.6 3.0
Acquisition Price (million RM) 280.0 232.0 117.5 83.3 98.0 106.1
Valuation (million RM) as at 31 Dec 2019 440.0 329.0 144.5 97.0 130.0 96.0

 

Notes:

    # Source: H-REIT Annual Report 2019 and its website

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