- Frasers Centrepoint Trust (SGX:J69U) provided a business update for 1QFY26. A key development was the successful backfilling of the vacant cinema spaces at Causeway Point and Century Square after the quarter end.
Uplift in committed occupancy to 99.9%
- - Read this at SGinvestors.io -
- The SAS Cineplex lease at Causeway Point has a short tenure of 11 months with lower rents than the previous lease as this is meant as a stop-gap measure. Management has plans to position Causeway Point as a regional mall and will share more details on its upcoming AEI in due course. Effective rents for the Golden Village lease at Century Square are not far off from the previous lease.
Steady growth in shopper traffic and tenants’ sales.
- - Read this at SGinvestors.io -
- Frasers Centrepoint Trust announced plans for another AEI, this time at NEX. This is aimed at optimising its trade mix and rents as well as enhancing shopper traffic flow and connectivity to improve space efficiency. 62k square feet (sf) of gross floor area (GFA) from the carpark would be converted to retail and office space, thus adding 44k sf of net lettable area (NLA). The estimated capex is S$90m, which will be spread over two years starting from 2Q26. Management has targeted an ROI of ~7% for this AEI.
Aggregate leverage ratio increased 0.7ppt q-o-q to 40.3%.
- Read more at SGinvestors.io.
