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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.
Overview
Frasers Centrepoint Trust’s portfolio comprises nine suburban retail malls and one office building, all located in Singapore. The nine retail malls are (in order of net lettable area): Causeway Point, Waterway Point (FCT holds 40%-interest), Tampines 1, Northpoint City North Wing (inclusive of Yishun 10 retail podium), Tiong Bahru Plaza, Century Square, Hougang Mall and White Sands. The office building is Central Plaza, which is connected to the retail mall Tiong Bahru Plaza.
FCT's properties are located next to or near the MRT stations and bus interchanges and in populous residential areas. The retail malls, enjoy high shopper traffic comprising residents and the commuters. FCT strives to offer pleasant and comfortable shopping experience for its shoppers that will encourage them to keep coming to its malls. FCT strives to be a fair and value-adding landlord through competitive lease rates, upkeep and enhancement of its retail and office properties, and be the preferred choice of tenants and stakeholders.
FCT Property Portfolio
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
- Frasers Centrepoint Trust owns 40% interest in Sapphire Star Trust ("SST") which holds the interests in Waterway Point
- The NLA excludes the area of approximately 10,505 square feet (957.9 square meters) currently used as Community Sports Facilities Scheme (CSFS) space
- The NLA excludes the area of approximately 17,954 square feet (1,668 square meters) currently used as CSFS space
- The NLA excludes the area of approximately 3,391 square feet (315 square meters) currently used as CSFS space
- Based on valuation as at 15 September 2020 for the respective assets
- Waterway Point's proportion is based on FCT's 40% share in SST
- This is FCT's share of revenue in SST for FY2020
- This is FCT's share of net property income in SST for FY2020
- Combined shopper traffic for Northpoint City North Wing and South Wing
FCT Property Portfolio
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 2021)
| Subang Parade | Mahkota Parade | Wetex Parade & Classic Hotel | 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 2020 |
523,487 | 521,142 | 175,014 | 310,564 | 299,781 | 216,345 |
| Tenancies as at 31 Dec 2021 | 89 | 90 | 60 | 45 | 67 | 33 |
| Occupancy as at 31 Dec 2021 | 82.5% | 87.1% | 89.9% | 85.9% | 94.0% | 67.3% |
| Visitor Traffic FY2020 (million) | 4.0 | 2.8 |
1.9 | 1.9 | 1.9 | 0.7 |
| Acquisition Price (million RM) | 280.0 | 232.0 | 117.5 | 83.0 | 98.0 | 106.1 |
| Valuation (million RM) as at 31 Dec 2021 | 423.0 | 323.5 | 142.0 | 90.0 | 129.0 | 57.0 |
| 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 2020 |
523,487 | 521,142 | 175,014 | 310,564 | 299,781 | 216,345 |
| Tenancies as at 31 Dec 2021 | 89 | 90 | 60 | 45 | 67 | 33 |
| Occupancy as at 31 Dec 2021 | 82.5% | 87.1% | 89.9% | 85.9% | 94.0% | 67.3% |
| Visitor Traffic FY2020 (million) | 4.0 | 2.8 |
1.9 | 1.9 | 1.9 | 0.7 |
| Acquisition Price (million RM) | 280.0 | 232.0 | 117.5 | 83.0 | 98.0 | 106.1 |
| Valuation (million RM) as at 31 Dec 2021 | 423.0 | 323.5 | 142.0 | 90.0 | 129.0 | 57.0 |
