Our Portfolio

Frasers Centrepoint Trust’s portfolio comprises six suburban malls, all located in Singapore.

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 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

  1. Net Lettable Area as stated in valuation reports dated 30 September 2017 for the respective malls
  2. Northpoint City North Wing was formerly known as Northpoint Shopping Centre
  3. ^ 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)
  4. # The property's operating performance and occupancy in FY2017 was affected by the AEI.

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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