A portfolio with real focus

Transcription

1 A portfolio with real focus The portfolio of properties owned by CCT comprises Capital Tower, 6 Battery Road, Starhub Centre, Robinson Point, Bugis Village, Golden Shoe Car Park and Market Street Car Park. The properties have a diverse tenant base of 258 international and local tenants (as at 31 December 2004) spread across a variety of business sectors. Widely recognised blue chip tenants include Government of Singapore Investment Corporation Pte Ltd, Standard Chartered Bank and JPMorgan Chase Bank, N.A.. Benefitting from high occupancy and renewal rates, the seven properties provide income stability for CCT. CCT s average portfolio committed occupancy of 95.2% as at 31 December 2004 is well in excess of the market average of 84.0%. CCT property portfolio key statistics as at 31 December 2004 CCT property portfolio tenant business sector analysis Net lettable area ( NLA ) Committed occupancy 95.2% Purchase price (on acquisition) 169,132 sq m S$2,018.5m 12.3% 9.9% 9.3% 6.0% Valuation (as at 1 December 2004) S$1,918.2m 6.0% No. of tenants 258 No. of car park lots 2, % 4.9% CCT property portfolio top 10 tenants committed as at 31 December % 4.9% 3.6% 1.8% Tenant Leased % of NLA gross (sq m) rent Government of Singapore 26, Investment Corporation Pte Ltd Standard Chartered Bank 12, JPMorgan Chase Bank, N.A. 14, Mizuho Corporate Bank, Ltd 6, Nomura Singapore Limited 4, Cisco Systems (USA) Pte. Ltd. 7, Banking, insurance & financial services Government & government linked offices Others IT services & consultancy/internet trading Car park income Food & beverage Real estate & property services Telecommunication Business management/consulting services/business activities Legal Education Based on Gross Rent for the month of December 2004 and including car park income from Golden Shoe Car Park and Market Street Car Park. CCT property portfolio lease expiry profile Starhub Ltd. 7, CapitaLand Group (2) 5, Calyon 3, Intel Technology Asia Pte Ltd 3, % 21.2% 22.8% 18.0% 25.8% 25.6% Total 91, For the month of December 2004, gross rent ( Gross Rent ) consists of base rental income and tenant service charge. (2) Refers to CapitaLand and CapitaLand Commercial and Integrated Development Limited as tenants in Capital Tower and Robinson Point respectively. Expiring leases as a percentage of NLA as at 31 December Expiring leases as a percentage of Gross Rent for the month of December CapitaCommercial Trust AR 2004

2 CAPITAL TOWER An award winning intelligent office building located along Robinson Road, Capital Tower currently houses the flagship office of CapitaLand as well as key prominent tenants. CapitaCommercial Trust AR

3 Capital Tower Capital Tower is a Grade A 52-storey intelligent office building located along Robinson Road in Singapore's prime business district and is adjacent to the Tanjong Pagar MRT station. It has a NLA of 69,052 sq m as at 31 December 2004 and currently houses the flagship office of CapitaLand as well as key prominent tenants such as Government of Singapore Investment Corporation Pte Ltd, JPMorgan Chase Bank, N.A., Mizuho Corporate Bank, Ltd and Cisco Systems (USA) Pte. Ltd. China Club, the exclusive members-only club, is located on the top floor of the building. The building has an intelligent building management system with many smart office features available for tenants, such as the electronic booking of meeting rooms, reservation of car park lots and monitoring of the office environment. There are retail outlets on the first and ninth storeys as well as amenities such as conference room facilities, a gymnasium and swimming pool on the ninth storey, and 415 car park lots on the third to eighth storeys. There is also an expansive urban plaza in front of the building with water features, sculptures and extensive landscaping. The building has won numerous design and construction awards such as: 2003 Asean Energy Efficiency & Conservation Best Practice Competition for Energy Efficient Buildings (New & Existing Building Category); 2003 Fiabci Prix d'excellance - Highly commended in the office/industrial category; 2003 BCA Energy Efficient Building Awards (New & Existing Building Category - 1st Runner-Up); 2002 BCA Construction Excellence Award; 2001 BCA Best Buildable Design Award; and 2001 Singapore Institute of Architect (SIA) Façade Design Excellence Merit Award (Office Category). The objective for Capital Tower is to optimise financial performance, strengthen its position as the leading office building in the CBD and provide tenants with a level of customer service that goes beyond conventional building management services. Left: Building management team at Capital Tower. Below: The building s intelligent building management system offer tenants many smart office features. 22 CapitaCommercial Trust AR 2004

4 Capital Tower key statistics as at 31 December 2004 or for the financial period 15 May 2004 to 31 December 2004 Location 168 Robinson Road Capital Tower tenant business sector analysis NLA Title 69,052 sq m Leasehold estate expiring 31 December % Committed occupancy 94.5% Purchase price (on acquisition) S$793.9m Valuation (as at 1 December 2004) S$755.4m No. of tenants 18 No. of car park lots 415 Gross revenue S$24.9m Net property income S$17.6m 45.6% 11.6% 3.0% 2.7% 1.3% Banking, insurance & financial services Government & government linked offices IT services & consultancy/internet trading Real estate & property services Food & beverage Others Based on Gross Rent for the month of December Capital Tower top 10 tenants committed as at 31 December 2004 Tenant Leased % of NLA Gross (sq m) Rent Capital Tower lease expiry profile Government of Singapore 26, Investment Corporation Pte Ltd JPMorgan Chase Bank, N.A. 14, Mizuho Corporate Bank, Ltd 6, Cisco Systems (USA) Pte. Ltd. 7, Calyon 3, % 38.2% BHP Billiton Marketing Asia Pte Ltd 1, CapitaLand Limited 1, Malayan Banking Berhad % 5.7% 20.4% 15.0% China Club Investment Pte Ltd 1, Sportathlon Singapore Pte Ltd Total 64, Expiring leases as a percentage of NLA as at 31 December Expiring leases as a percentage of Gross Rent for the month of December CapitaCommercial Trust AR

5 6 BATTERY ROAD The main entrance lobby of 6 Battery Road has hotel-like features including a concierge service counter, sofa seating area, water feature and expansive back-lit onyx walls. 24 CapitaCommercial Trust AR 2004

6 With an impressive baltic brown granite exterior that is matched by an equally distinctive address, 6 Battery Road is a landmark Grade A 42-storey office building located in the heart of Raffles Place, Singapore's financial and commercial hub, with a direct basement access to the Raffles Place MRT station. It has a NLA of 45,922 sq m as at 31 December 2004 and currently houses key prominent tenants such as Standard Chartered Bank and Nomura Singapore Limited. The main entrance lobby has hotel-like features, including a concierge service counter, sofa seating area, water feature and expansive back-lit onyx walls. There are 190 car park lots over three basement levels. The property offers tenants the best in office space with panoramic views of the Singapore River and Marina Bay. This has made it the preferred choice of local and multinational companies seeking a prestigious corporate address. It also offers tenants the complete working environment that is essential in today s modern business setting. The objective for 6 Battery Road is to optimise financial performance, strengthen its position as the leading office building in the Raffles Place area and provide tenants with a level of customer service that goes beyond conventional building management services. Left: Building management team at 6 Battery Road. Below: Offering tenants the best in office space, 6 Battery Road is the preferred choice of companies seeking a prestigious corporate address. CapitaCommercial Trust AR

7 6 Battery Road 6 Battery Road key statistics as at 31 December 2004 or for the financial period 15 May 2004 to 31 December 2004 Location 6 Battery Road 6 Battery Road tenant business sector analysis NLA Title 45,922 sq m Committed occupancy 97.5% Leasehold estate expiring 19 April % 9.7% Purchase price (on acquisition) S$675.2m Valuation (as at 1 December 2004) S$640.0m No. of tenants 79 No. of car park lots 190 Gross revenue S$20.9m Net property income S$15.2m 56.7% 4.7% 0.6% 8.8% 8.7% 6 Battery Road top 10 tenants committed as at 31 December 2004 Tenant Leased % of NLA Gross (sq m) Rent Banking, insurance & financial services IT services & consultancy/internet trading Business management/consulting services/ business activities Real estate & property services Legal Others Telecommunication Based on Gross Rent for the month of December Standard Chartered Bank 12, Nomura Singapore Limited 4, Symantec Singapore Pte Ltd 2, Battery Road lease expiry profile Servcorp Battery Road Pte Ltd 1, Sanetti Pte Ltd 1, ICAP AP (Singapore) Pte. Ltd. 1, Freemarkets Asia Pte. Ltd. 1, CB Richard Ellis (Pte) Ltd 1, % 20.9% 28.7% 28.5% 20.2% 17.5% Allianz Dresdner Asset 1, Management Singapore Limited TSMP Law Corporation Total 28, Refers to ICAP AP (Singapore) Pte. Ltd. and ICAP-Nittan Pte Ltd Expiring leases as a percentage of NLA as at 31 December Expiring leases as a percentage of Gross Rent for the month of December CapitaCommercial Trust AR 2004

8 STARHUB CENTRE A 10-storey office building located in the prime Orchard Road shopping belt with retail space on the first storey and a food court on the second storey. CapitaCommercial Trust AR

9 Starhub Centre Starhub Centre is a 10-storey office building with retail space on the first storey and a food court on the second storey. It is located in the prime Orchard Road shopping belt and is linked to the popular Centrepoint Shopping Centre via a link-bridge on the second storey. The building has a NLA of 25,889 sq m as at 31 December 2004 and currently houses prominent office tenants such as Starhub Ltd., Intel Technology Asia Pte Ltd and STT Communications Ltd. 281 car park lots are located on the second to fifth storeys. The objective for Starhub Centre is to optimise financial performance, improve its position as a premium office building in the Orchard Road area and provide tenants with a level of customer service that goes beyond conventional building management services. Left: Building management team at Starhub Centre. Below: The building houses prominent office tenants such as Starhub Ltd., Intel Technology Asia Pte Ltd and STT Communications Ltd.. 28 CapitaCommercial Trust AR 2004

10 Starhub Centre key statistics as at 31 December 2004 or for the financial period 15 May 2004 to 31 December 2004 Location 51 Cuppage Road Starhub Centre tenant business sector analysis NLA Title 25,889 sq m Leashold estate expiring 31 January % 13.1% Committed occupancy 98.1% 11.0% Purchase price (on acquisition) S$266.1m Valuation (as at 1 December 2004) S$246.5m No. of tenants 22 No. of car park lots 281 Gross revenue S$8.0m Net property income S$5.7m 41.4% 2.6% 7.4% 9.4% Starhub Centre top 10 tenants committed as at 31 December 2004 Tenant Leased % of NLA Gross (sq m) Rent Starhub Ltd. 7, Telecommunication IT services & consultancy/internet trading Education Others Food & beverage Banking, insurance & financial services Business management/consulting services/ business activities Based on Gross Rent for the month of December Starhub Centre lease expiry profile Intel Technology Asia Pte Ltd 3, STT Communications Ltd 3, Foods First Private Limited 2, Prudential Assurance Company Singapore (Pte) Limited 1, % 39.1% IBMEC Holdings Pte. Ltd. 1, Singapore Technologies Engineering Ltd 1, The Financial Training Company 1, (Singapore) Pte Ltd 0.8% 1.2% 13.8% 14.9% ST Asset Management Pte. Ltd More World System (Singapore) Pte Ltd Total 23, Expiring leases as a percentage of NLA as at 31 December Expiring leases as a percentage of Gross Rent for the month of December CapitaCommercial Trust AR

11 ROBINSON POINT A 21-storey office tower located near the popular Lau Pat Sat Festival Market and within 10 minutes' walk to the Raffles Place MRT station. 30 CapitaCommercial Trust AR 2004

12 Robinson Point is a 21-storey office tower located near the popular Lau Pat Sat Festival Market. It is within 10 minutes' walk to the Raffles Place MRT station. The building has a NLA of 12,358 sq m as at 31 December 2004 and currently houses the offices of CapitaLand Commercial and Integrated Development Limited which takes up five storeys in the building. The first storey of the building contains the banking hall of Southern Bank Berhad as well as two food and beverage outlets. There are 57 car park lots on the third to fifth storeys of the building. Occupancy in Robinson Point has improved substantially over the past year as a result of aggressive marketing efforts. Committed occupancy as at 31 Dec 2004 reached 85.2% as compared to 72.6% in the previous year, which is an impressive 12.6% improvement in occupancy. The objective for Robinson Point is to optimise financial performance, improve its position as a quality office building in the CBD and provide tenants with a level of customer service that goes beyond conventional building management services. Left: Building management team at Robinson Point. Below: Robinson Point currently houses the offices of CapitaLand Commercial and Integrated Development Limited which takes up five storeys in the building. CapitaCommercial Trust AR

13 Robinson Point Robinson Point key statistics as at 31 December 2004 or for the financial period 15 May 2004 to 31 December 2004 Location 39 Robinson Road Robinson Point tenant business sector analysis NLA 12,358 sq m Title Freehold Committed occupancy 85.2% 18.2% 17.9% Purchase price (on acquisition) Valuation (as at 1 December 2004) S$119.8m S$108.2m 16.3% No. of tenants 18 No. of car park lots 57 Gross revenue S$3.1m Net property income S$1.7m 36.2% 3.4% 3.1% 2.8% 2.1% Robinson Point top 10 tenants committed as at 31 December 2004 Tenant Leased % of NLA Gross (sq m) Rent Real estate & property services Banking, insurance & financial services Business management/consulting services/ business activities Legal IT services & consultancy/internet trading Others Food & beverage Telecommunication Based on Gross Rent for the month of December CapitaLand Commercial 3, and Integrated Development Limited Southern Bank Berhad 1, Robinson Point lease expiry profile Alban Tay Mahtani & De Silva 1, Shinryo Singapore Pte Ltd Venture Era Group Pte. Ltd Decillion Solutions Pte Ltd Maxxium Singapore Fine Wines & Spirits Pte Ltd 14.0% 22.6% 17.3% 18.8% 18.1% 17.2% IIR Exhibitions Pte Ltd Freehills Marcus Evans (Singapore) Pte Ltd Total 9, Expiring leases as a percentage of NLA as at 31 December Expiring leases as a percentage of Gross Rent for the month of December CapitaCommercial Trust AR 2004

14 BUGIS VILLAGE Comprising 34 three-storey shophouses, Bugis Village is located in the bustling Bugis Street/Queen Street area and directly across Bugis MRT station. CapitaCommercial Trust AR

15 Bugis Village Bugis Village comprises 34 three-storey pre-second World War shophouses that were restored in 1991 and is located in the bustling Bugis Street/Queen Street area. It is also located directly across Bugis MRT station and the popular Bugis Junction shopping centre. As at 31 December 2004, the development has a NLA of 10,730 sq m comprising shop units, fast food outlets, restaurants and offices. Bugis Village is located in the heart of the Bras Basah, Bugis District, which is planned as an Arts, Culture, Learning and Entertainment hub in the city centre. URA has recently launched for sale by tender, the first Urban Entertainment Centre ( UEC ) site adjacent to Bugis Village. The proposed UEC could potentially house entertainment uses such as cinemas, thematic restaurants, live show dinner theatres, indoor theme parks and entertainment centres, discotheques, fine art galleries, workshops, as well as TV, film and video studios and production facilities. Once completed, it is expected to benefit Bugis Village whose retail shops will likely enjoy increased consumer traffic. The objective for Bugis Village is to optimise financial performance and provide tenants with a level of customer service that goes beyond conventional building management services. Left: Building management team at Bugis Village. Below: Bugis Village comprises shop units, fast food outlets, restaurants and offices. 34 CapitaCommercial Trust AR 2004

16 Bugis Village key statistics as at 31 December 2004 or for the financial period 15 May 2004 to 31 December 2004 Location 62 to 67 Queen Street, 151 to 166 Rochor Road, 229 to 253 (odd nos. only) Victoria Street Bugis Village tenant business sector analysis NLA Title 10,730 sq m Leasehold estate expiring 30 March % Committed occupancy 92.9% Purchase price (on acquisition) S$56.5m 59.0% Valuation (as at 1 December 2004) S$60.2m No. of tenants 66 Gross revenue Net property income S$4.7m S$3.6m Takes into account the right of the President of the Republic of Singapore, as lessor under the State Lease, to terminate the State Lease on 1 April 2019 upon payment of S$6,610, plus accrued interest. 6.2% 0.7% Others Food & beverage Business management/consulting services/ business activities Educational Based on Gross Rent for the month of December Bugis Village top 10 tenants committed as at 31 December 2004 Tenant Leased % of NLA Gross (sq m) Rent Bee Cheng Hiang Hup Chong Foodstuff Pte Ltd Bugis Village lease expiry profile Bon-Food Pte Ltd Kentucky Fried Chicken Management Pte Ltd Amore Fitness Pte. Ltd. 1, This Fashion Holdings Pte Ltd Japan Home Pte Ltd Teo Hwei Kian & Teo Beng Hwee T/A THK Enterprise 34.3% 27.2% 35.5% 43.8% 15.8% 26.3% Cold Storage Singapore (1983) Pte Ltd Kimage Salon Pte Ltd McDonald's Restaurants Pte. Ltd Total 3, Expiring leases as a percentage of NLA as at 31 December Expiring leases as a percentage of Gross Rent for the month of December CapitaCommercial Trust AR

17 GOLDEN SHOE CAR PARK A 10-storey building located on the western end of Market Street, next to the heart of Raffles Place and within a short walking distance from the Raffles Place MRT Station. 36 CapitaCommercial Trust AR 2004

18 Golden Shoe Car Park is a 10-storey building located on the western end of Market Street, next to the heart of Raffles Place, Singapore's financial and commercial hub. Commercial developments in the vicinity include UOB Plaza, Republic Plaza, OCBC Centre and OUB Centre. The Raffles Place MRT station is within a short walking distance. Pursuant to the terms of the land lease relating to Golden Shoe Car Park, CCT is required to allow the Ministry of the Environment of Singapore to use, free of rent, the second and third storeys of the building as a food centre. The NLA of Golden Shoe Car Park, excluding the space occupied by the food centre on the second and third storeys, is 3,631 sq m as at 31 December In addition to the food centre on the second and third storeys, the building has shops, food outlets and a petrol kiosk on the first storey and 1,067 car park lots on the second to ninth storeys as well as office units on the tenth storey. The objective for Golden Shoe Car Park is to optimise financial performance and provide building management and car park services that exceed tenants and drivers expectations. Left: Building management team at Golden Shoe Car Park. Below: The building has 1,067 car park lots as well as a food centre, retail outlets and a petrol kiosk. CapitaCommercial Trust AR

19 Golden Shoe Car Park Golden Shoe Car Park key statistics as at 31 December 2004 or for the financial period 15 May 2004 to 31 December 2004 Golden Shoe Car Park tenant business sector analysis Location 50 Market Street NLA of the retail and 3,631 sq m office components of the building Title Leasehold estate expiring 31 January % Committed occupancy 100.0% Purchase price (on acquisition) S$72.1m 62.2% Valuation (as at 1 December 2004) S$73.0m No. of tenants 25 No. of car park lots 1067 Gross revenue Net property income S$4.5m S$3.1m Excludes the space on the second and third storeys granted to the Ministry of the Environment of Singapore, free of rent, for use as a food centre. Golden Shoe Car Park top 10 tenants committed as at 31 December 2004 Tenant Leased % of NLA Gross (sq m) Rent May Sin Food Centre Pte Ltd Singapore Petroleum Company Limited Golden Shoe Car Park lease expiry profile 6.8% 5.1% 1.8% 1.7% Others Food & beverage Business management/consulting services/ business activities Education IT services & consultancy/internet trading Real estate & property services Based on Gross Rent for the month of December Cold Storage Singapore (1983) Pte Ltd Christina Yam Nee Choo Gwek Mei T/A Acumed Medical Group Central SDC Consulting % 47.8% DCA Architects Pte Ltd Wee Cher Peng & Wee Meng Soon T/A Siang Heng Brothers Company Long Life Stationery Pte. Ltd Joe Koh Holdings Pte Ltd T/A Joe's Tailoring and Fashion Design Victoria House Pte Ltd Total 2, % 25.2% 28.3% 27.1% Expiring leases as a percentage of NLA as at 31 December Expiring leases as a percentage of Gross Rent for the month of December CapitaCommercial Trust AR 2004

20 MARKET STREET CAR PARK An eight-storey building located near Raffles Place and within walking distance from the Raffles Place MRT station. CapitaCommercial Trust AR

21 Market Street Car Park Market Street Car Park is an eight-storey building bounded by Market Street, Cross Street and Cecil Street and is near Raffles Place, Singapore's financial and commercial hub. Commercial developments within the vicinity include Hong Leong Building, City House, Equity Plaza and Republic Plaza. The popular Lau Pat Sat Festival Market is diagonally across the Cross Street/Robinson Road junction from Market Street Car Park and the Raffles Place MRT station is within walking distance. Market Street Car Park has a NLA of 1,550 sq m as at 31 December 2004 with 800 car park lots. In its continuous efforts to enhance the value of CCT s property portfolio, the Manager has formulated an asset enhancement plan to revitalise Market Street Car Park and take advantage of its prime location. Subject to approvals by the relevant authorities, the plan will inject life and vibrancy into the building and will also enhance its image as a preferred transportation hub in the CBD. Some of the proposed changes are: A new façade to enhance the visual impact of the property. The shop front height will be raised to increase the prominence of retail shops. An upgraded food and beverage corner located at the junction of Cecil Street and Market Street (facing Prudential Tower) to provide customers with a conducive eating environment. A new atrium space with retail shops. The atrium will be illuminated by skylight, air-conditioned and feature a unique glass lift lobby. A re-landscaped mall surrounding the property. A softer and greener environment and a widened covered walkway will be created to provide better shelter and create visual interest in the property. The objective for Market Street Car Park is to optimise financial performance and provide building management and car park services that exceed tenants and drivers expectations. Left: Building management team at Market Street Car Park. Below: An artist s impression of how the proposed asset enhancement plan will improve the building s vibrancy and image (subject to authorities approvals). 40 CapitaCommercial Trust AR 2004

22 Market Street Car Park key statistics as at 31 December 2004 or for the financial period 15 May 2004 to 31 December 2004 Location 146 Market Street Market Street Car Park tenant business sector analysis NLA of the retail component of the building Title 1,550 sq m Leasehold estate expiring 31 March 2073 Committed occupancy 100.0% 42.9% Purchase price (on acquisition) Valuation (as at 1 December 2004) S$34.9m S$34.9m 57.1% No. of tenants 30 No. of car park lots 800 Gross revenue Net property income S$2.2m S$1.6m Food & beverage Others Based on Gross Rent for the month of December Market Street Car Park top 10 tenants committed as at 31 December 2004 Tenant Leased % of NLA Gross (sq m) Rent Market Street Car Park lease expiry profile Ng Bee Keow T/A Golden Café Food Court Lea Ong T/A Hair Inn Unisex Salon Kuok Choon Ngiap T/A The Pelican House % Cold Storage Singapore (1983) Pte Ltd % A Cake History Pte. Ltd Ng Say Gek, Lim Lai Moi & Lim Choon Wah % 24.1% Holland Village Cafe Pte. Ltd Aitullah Jawed s/o Abdul Sahid T/A Makanan Bollywood Samat Bin Mohamed Yusof T/A Bali Store Fujiya Restaurant (Pte.) Ltd Total % 12.8% Expiring leases as a percentage of NLA as at 31 December Expiring leases as a percentage of Gross Rent for the month of December CapitaCommercial Trust AR