- Frasers Centrepoint Trust reported DPU of 6.054 cents for 1HFY25 (+0.5% y-o-y), which is slightly above our expectation. It achieved a positive rental reversion of +9.0% driven by Causeway Point, Tampines 1 and Century Square. Tenant sales rose 3.3% y-o-y, boosted by the completion of AEI at Tampines 1.
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Acquiring South Wing of Northpoint City.
- Frasers Centrepoint Trust has entered into an agreement to acquire 100% of North Gem Trust, which owns Northpoint City South Wing (NCSW), from sponsor Frasers Property (SGX:TQ5). The agreed property value is S$1,133m, which is 1.1% below the average of two independent valuation of S$1,146m by Colliers and S$1,120m by Savills.
In the heart of Yishun HDB estate.
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- NCSW has NLA of 301,579sf spanning across two upper levels and two basement levels. NCSW is part of an integrated mixed-use development with 920-unit condominium North Park Residences sitting on top of its retail podium. It is linked to Yishun MRT station via an underground pedestrian link.
Northpoint City South Wing (NCSW) outperforms comparable suburban retail malls.
- Read more at SGinvestors.io.
