The Trust owns nine centrally-located properties comprising three Grade A offices, one prime office building, three mixed-use properties and two multistorey car parks all of which are served by major MRT stations in Singapore s CBD. Singapore s Central Business District 6 7 DHOBY GHAUT INTERCHANGE 6 BUGIS 1 Capital Tower 2 Six Battery Road 3 One George Street 5 ESPLANADE CITY HALL INTERCHANGE CLARKE QUAY 3 2 4 8 9 RAFFLES PLACE INTERCHANGE 1 4 hsbc Building 5 Raffles City Singapore 6 Bugis Village TANJONG PAGAR 7 Wilkie Edge 8 Golden Shoe Car Park 9 Market Street Car Park CapitaCommercial Trust Annual Report 2010 27
Capital Tower The award-winning Capital Tower is a choice location for corporate offices. This 52-storey Grade A office building is set in a landscaped plaza accented with sculptures and water features. There are two sculptures by Swiss artist Kurt Laurenz Metzler on display in the main lobby and at the urban plaza. Amenities include a gymnasium and meeting rooms on the ninth floor, and a newly-opened Ai Mien Bar among its retail offerings on the first floor. 168 Robinson Road 68,836 sqm Committed occupancy 99.9% No. of tenants 20 No. of car park lots 415 Leasehold estate expiring 31 December 2094 S$793.9 million S$1,113.5 million Gross rental income S$59.4 million (FY 2010) Gross revenue S$64.3 million (FY 2010) Net property income S$47.2 million (FY 2010) Government of Singapore Investment Corporation Private Limited JPMorgan Chase Bank, N. A. BHP Billiton Marketing Asia Pte Ltd One George Street A Grade A office building in the heart of Singapore s business district, One George Street features large columnfree floor plates and advanced building automation features designed for the needs of financial institutions and multinational companies. Conceived with eco-friendly features, the building is enhanced by four roof gardens located on various levels. 1 George Street 41,620 sqm Leasehold estate expiring 21 January 2102 Committed occupancy 100.0% Purchase price in 2008 No. of tenants 33 No. of car park lots 178 S$1,165.0 million S$914.3 million Gross rental income S$52.7 million (FY 2010) Gross revenue S$59.5 million (FY 2010) Net property income S$49.5 million (FY 2010) Lloyd s of London (Asia) Pte Ltd The Royal Bank of Scotland PLC WongPartnership LLP 28
Six Battery Road An endearing landmark in Raffles Place, Six Battery Road is the first operating office building in Singapore s CBD to attain the Green Mark Platinum award, the highest accolade given by the Building and Construction Authority of Singapore. Currently undergoing enhancements to modernise its interiors, improve its energy efficiency and environmentally sustainable features, the building s strategic location, convenient access to transport and amenities and towering views of the Singapore River remain a huge draw among corporate tenants. 6 Battery Road 46,339 sqm Committed occupancy 99.7% No. of tenants 65 No. of car park lots 190 19 April 2825 S$675.2 million S$1,115.0 million Gross rental income S$79.3 million (FY 2010) Gross revenue S$82.8 million (FY 2010) Net property income S$65.4 million (FY 2010) Standard Chartered Bank Nomura Singapore Limited ICAP AP (Singapore) Pte. Ltd. Six Battery Road s asset enhancement to take place in phases to minimise inconvenience to existing occupants phase 1 enhancement Commencement completion Ground floor Main lobby Vertical garden Turnstiles November 2010 March 2011 The phase 1 asset enhancement works started in November and are expected to be completed by March 2011. The other planned areas of enhancement include: Increasing ceiling height to 2.8 metres and installing variable air volume boxes within office premises (only upon lease expiry). Re-designing chiller plant room system, incorporating thermal energy storage system which will improve system efficiency from the current 0.94kW/ton to 0.65kW/ton. Introducing green elements such as green wall with living plants at the main lobby. Upgrading finishes of restrooms, lift lobbies and lift cars at respective floors. Festive-themed hoardings were put up during the year-end season. CapitaCommercial Trust Annual Report 2010 29
(100.0% interest) Raffles City Singapore Raffles City Singapore is a prime landmark and an integrated development comprising the 42-storey Raffles City Tower, a seven-storey podium which houses Raffles City Shopping Centre, Raffles City Convention Centre and basement car parks, the 73-storey Swissôtel The Stamford and the 28-storey twin-tower Fairmont Singapore. One of the largest mixed-use developments in downtown Singapore, the property is linked to City Hall MRT interchange and the Esplanade MRT station on Circle Line. With its convenient access and diversified retail offerings, it remains a popular destination among locals and tourists. CCT holds a 60.0% interest in Raffles City Singapore through RCS Trust, the special purpose vehicle for the development, with CapitaMall Trust owning the remaining 40.0% interest. Raffles City Singapore lease expiry profile by monthly gross rental income as at 31 December 2010 37.4% 250 & 252 North Bridge Road; 2 Stamford Road; 80 Bras Basah Road 74,376 sqm Office 35,334 sqm Retail 39,042 sqm 15 July 2078 Committed occupancy 99.1% Office 98.5% Retail 99.6% Purchase price in 2006 No. of tenants S$2,166.0 miilion S$2,693.0 million 274 Office 54 Retail 219 Hotels and 1 convention centre No. of hotel rooms 2,030 No. of car park lots 1,046 Shoppers traffic 35.7 million (for 2010) Gross rental income S$194.0 million (FY 2010) Gross revenue S$203.2 million (FY 2010) Net property income S$146.5 million (FY 2010) RC Hotels (Pte) Ltd. Robinson & Company (Singapore) Private Limited Economic Development Board Raffles City Singapore major usage mix by monthly gross rental income as at 31 December 2010 20.2% Office 18% 5.1% 0.9% 10.3% 8.7% 4.1% 2.3% 8.9% 2.1% 0.0% Hotels & Convention Centre 38% 2011 2012 2013 2014 2015 & beyond Office Retail (excludes turnover rent) Hotels & Convention Centre Retail 44% 30
HSBC Building The 21-storey HSBC Building is located within a five-minute walk from Raffles Place MRT. It offers excellent frontage overlooking Fullerton Square and Marina Bay. The Trust is responsible for the building s insurance and structural maintenance, while HSBC, the tenant bears the operating expenses, including property tax. 21 Collyer Quay 18,624 sqm 18 December 2849 Committed occupancy 100.0% Purchase price in 2005 No. of tenants 1 No. of car park lots S$153.9 million S$345.8 million N.A. Gross rental income S$9.5 million (FY 2010) Gross revenue S$9.5 million (FY 2010) Net property income S$9.4 million (FY 2010) Tenant The Hongkong and Shanghai Banking Corporation Limited Wilkie Edge Wilkie Edge is a 12-storey mixed-use development sited at the junction of Wilkie Road and Selegie Road. A 10-minute walk from Dhoby Ghaut MRT interchange, it has a distinctive façade featuring an impressive LED screen an iconic landmark in a cultural precinct alive with commercial and business activity. The occupancy rate of the property increased to 98.4% as at end-december 2010 from 77.9% a year ago. 8 Wilkie Road 13,880 sqm Committed occupancy 98.4% Purchase price in 2007 No. of tenants 20 No. of car park lots 215 20 February 2105 S$182.7 million S$150.9 million Gross rental income S$9.5 million (FY 2010) Gross revenue S$10.1 million (FY 2010) Net property income S$6.4 million (FY 2010) SF Consulting Pte Ltd Kaplan Learning Institute Pte. Ltd. Astrazeneca Singapore Pte Ltd CapitaCommercial Trust Annual Report 2010 31
Golden Shoe Car Park The 10-storey Golden Shoe Car Park on Market Street is adjacent to Raffles Place, Singapore s financial and commercial centre. It offers a convenient array of fashion boutiques and food & beverage operations on its ground level. Committed occupancy 95.2% No. of tenants 32 No. of car park lots 1,053 50 Market Street 4,117 sqm (excluding car park area) 31 January 2081 S$72.1 million S$109.1 million Car park income S$5.6 million (FY 2010) Gross revenue S$11.4 million (FY 2010) Net property income S$8.1 million (FY 2010) May Hua Food Court Pte. Ltd. DCA Architects Pte Ltd GG<5 Pte Ltd Market Street Car Park Bounded by Market Street, Cross Street and Cecil Street, the eight-storey Market Street Car Park is a short walk from Raffles Place MRT station. It houses food & beverage outlets and retail shops on its ground level. Committed occupancy 100.0% No. of tenants 23 No. of car park lots 704 146 Market Street 2,360 sqm (excluding car park area) 31 March 2073 S$34.9 million S$48.6 million Car park income S$3.4 million (FY 2010) Gross revenue S$5.6 million (FY 2010) Net property income S$4.3 million (FY 2010) Koufu Pte Ltd Alcova Group Pte. Ltd. Chakuan Pte. Ltd. 32
Bugis Village Bugis Village features 34 uniquely restored pre-war shophouses in a vibrant enclave with a rich heritage. The three-storey shophouses offer ideal business space for offices on its upper floors and retail outlets such as fast food restaurants and hair salons on the ground level. The leasehold title and the valuation take 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$6,610,208.53 plus accrued interest. 62 to 67 Queen Street, 151 to 166 Rochor Road, 229 to 253 (odd nos. only) Victoria Street 11,375 sqm Committed occupancy 93.4% No. of tenants 73 No. of car park lots 30 March 2088 S$56.5 million S$62.4 million N.A. Gross rental income S$10.2 million (FY 2010) Gross revenue S$10.5 million (FY 2010) Net property income S$8.1 million (FY 2010) This Fashion Holdings Pte Ltd Burger King Singapore Pte. Ltd. Kentucky Fried Chicken Management Pte Ltd Portfolio tenant mix by net lettable area as at 31 December 2010 Logistics 19.5% Banking 19.6% Retail 21.4% Government Linked Office 0.4% Automotive 4.8% Property/ Construction 7.2% Malaysia Investments Oil & Gas 19.1% IT/Electronics 8.0% CCT has a 30.0% stake in Quill Capita Trust (QCT), a commercial REIT listed on Bursa Malaysia, and a 7.4% (with commitment of US$20.0 million) stake in Malaysia Commercial Development Fund, a private investment fund for real estate projects in Malaysia., QCT has a portfolio of 10 properties in Kuala Lumpur, Selangor and Penang, with an asset size of RM843.6 million (S$353.1 million) and a market capitalisation of RM433.0 million (S$181.3 million). Its tenants include multinational and local companies involved in retail, logistics, oil & gas, banking, IT/electronics, automotive and property. CapitaCommercial Trust Annual Report 2010 33