Property Overview Mapletree Commercial Trust
Ayer Rajah Expressway Dhoby Ghaut
City West Coast Highway Telok Hall Ayer Chinatown Raffles Place
Downtown PSA Tanjong ALEXANDRA Pagar BUILDING Central Expressway CENTRAL PRECINCT BUSINESS MOUNT Outram DISTRICT MBC I FABER Park Pasir MAPLETREE Marina Panjang ANSON Bay Labrador Marina Coastal Park MLHF Expressway Telok Blangah HarbourFront
10 minutes drive from CBD VIVOCITY HARBOURFRONT RESORTS PRECINCT WORLD SENTOSA
Major Expressways SENTOSA MRT: Circle Line East-West Line North-South Line North-East Line Downtown Line
MRT Station Sentosa Express Line Map zoomed out:
Singapore Changi Airport
20 Annual Report 2016/17
MCT’s portfolio comprises five properties located in Singapore’s Alexandra Precinct, HarbourFront Precinct and the CBD. East Coast Parkway
VivoCity PSA Building
Singapore’s largest mall with 1,047,091 An established integrated development sq ft of NLA spread over a three-storey with a 40-storey office block and a shopping complex and two basement three-storey retail centre, ARC, with levels. Strategically located in the an aggregate NLA of 523,673 sq ft. Marina Coastal heart of the HarbourFront Precinct, PSA Building’s excellent location Expressway this iconic development is directly within the Alexandra Precinct, a short connected to the HarbourFront Mass distance from the CBD, makes it an Rapid Transit (“MRT”) station and enjoys ideal choice for companies who prefer exceptional connectivity to Sentosa a quality office location outside the and the HarbourFront Centre. VivoCity CBD. ARC further offers a wide range is positioned as a multi-dimensional of amenities and F&B offerings to the retail and lifestyle destination for working population in the vicinity. Singaporeans and tourists alike, offering visitors a unique waterfront shopping Mapletree Anson and dining experience. For the year A 19-storey premium office building ended 31 March 2017, VivoCity located in the Tanjong Pagar micro attracted 55.8 million visitors and market of the CBD with an NLA of S$951.8 million of record tenant sales. 330,167 sq ft. Mapletree Anson, built with Grade-A specifications, is one Mapletree Business City I of the first buildings in Singapore An outstanding and large-scale integrated to be awarded the Green Mark business hub located in the Alexandra Platinum certification by the BCA. It is Precinct. MBC I comprises four blocks of conveniently located within a two- Grade A office and business park space minute walk from the Tanjong Pagar with an aggregate NLA of 1,708,218 sq MRT Station and connected to major ft. The user-friendly features, recreational arterial roads and expressways. facilities and amenities, as well as wide public spaces and lush greenery, makes Bank of America Merrill Lynch this development a complete “work and HarbourFront play” environment. MBC I is conveniently A premium six-storey office building located within an approximate 10-minute with an NLA of 216,561 sq ft. drive from the CBD and enjoys excellent Completed in August 2008, MLHF linkages to the adjacent PSA Building, features modern office specifications Mapletree Business City II, as well as such as large and efficient column- the Labrador Park MRT Station. Its free rectangular floor plates of environmentally sustainable design and approximately 46,000 sq ft and features have also garnered several local integrated suspended ceiling and and international awards. raised floors.
21 Property Overview VivoCity
VivoCity, after ten years of operations, continues to distinguish itself with its solid performance. S$200.9m Gross Revenue FY16/17 shopper traffic and tenant sales grew 4.8% and 1.3% respectively to reach record highs of 55.8 million and S$951.8 million. Stemming from our efforts in managing VivoCity proactively, FY16/17 revenue and NPI S$150.4 m grew 5.1% and 3.4% respectively to reach S$200.9 million Net Property Income and S$150.4 million.
99.0% Occupancy1
22 A 3-storey shopping complex with 2 basement levels and a 7-storey annexe carpark
Net Lettable Area: 1,047,091 sq ft
Number of Leases: 350
Car Park Lots: 2,179
Title: 99 years commencing from 1 October 1997 VivoCity Lease Expiry Profile VivoCity Trade Mix by Market Valuation: S$2,741.0 million by Gross Rental Revenue Gross Rental Revenue (as at 31 March 2017) (as at 31 March 2017) Key Tenants: VivoMart, Tangs, Golden Village, Kopitiam, H&M 36.6% Awards and Accolades 31.5% • Winner, Best Lifestyle Mall, Her World x Nuyou Mall Awards 2016 • Winner, Best Mall (South), Her World x Nuyou Mall Awards 2016 16.0% • Winner, Best Dining Mall (South), Her 11.1% World x Nuyou Mall Awards 2016 4.8% • Finalist, Best Shopping Centre, Food & Beverage 31.2% AsiaOne People’s Choice Awards Fashion 22.2% 2016 FY FY FY FY FY Fashion Related 10.6% • Finalist, Best Retail Event of the Year 17/18 18/19 19/20 20/21 21/22 Departmental Store/Hypermart 9.3% and beyond Star Wars “The Force Awakens” event Beauty 6.0% Lifestyle 5.9% SRA Retail Awards 2016 Electronics 4.5% Sports 4.1% Data as at 31 March 2017. Gross revenue, net Entertainment 3.0% property income, tenant sales and shopper traffic are Number of Leases Others2 3.3% for financial year ended 31 March 2017. 65 138 110 30 7 2. Others includes Retail Bank, Optical, Medical, 1. Committed occupancy was 99.8%. Services and Convenience.
23 Tenant Sales Shopper Traffic S$951.8m 55.8m FY16/17 FY16/17
951.8 55.8 939.2 53.9 908.9 53.2 53.2 53.2 905.9 51.6 858.1
827.5
FY11/12 FY12/13 FY13/14 FY14/15 FY15/16 FY16/17 FY11/12 FY12/13 FY13/14 FY14/15 FY15/16 FY16/17
24 25 1 1
2 2
3 3
26 Annual Report 2016/17
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Photo Captions
1. A revamped fun-filled world for kids at Level 2 Play Court.
2. Completed 2nd AEI on Basement
5 2 and Level 3, further strengthening our F&B offerings. 6 3. Continuous tenant remixing to enhance retail offerings.
4. Christmas celebrations with Carousel-themed lightshow.
5. Exclusive and large-scale events to draw shoppers.
6. Interactive and fun events for families and children.
27 Property Overview Mapletree Business City I
MBC I is a quality and large-scale integrated office and business park located in the Alexandra Precinct. As a S$74.8m best-in-class asset, the accretive acquisition of MBC I Gross Revenue reinforces MCT’s long-term defensiveness and stability.
MBC I was successfully acquired on 25 August 2016. Since then, it has contributed S$61.3 million or 21.0% S$61.3m of NPI, driving MCT’s all-rounded performance. Net Property Income
99.0% Occupancy1
28 MBC I is an integrated development comprising 4 blocks; one 18-storey office tower (MBC 10) and three Featured art piece Wave by Baet Yeok Kuan business park blocks (MBC 20E, 20W and MBC 30)
Net Lettable Area: 1,708,218 sq ft MBC I Lease Expiry Profile by Gross MBC I Trade Mix by Gross Rental Revenue Rental Revenue Number of Leases: 37 (as at 31 March 2017) (as at 31 March 2017)
Title: Strata Lease commencing from 25 August 2016 to 29 September 40.8% 2096 35.7%
Market Valuation: $1,853.0 million
Purchase Price: $1,780.0 million
10.1% Date of Purchase: 25 August 2016 8.1% 5.4%
Key tenants: Banking & Financial Services 24.5% Government Related 13.7% The Hongkong and Shanghai Banking FY FY FY FY FY Consumer Goods 13.3% 17/18 18/19 19/20 20/21 21/22 Corporation Limited, Government Electronics 12.4% and beyond Technology Agency, Samsung Asia Pte. IT Services & Consultancy 10.7% Ltd., SAP Asia Pte. Ltd. Shipping Transport 6.5% Pharmaceutical 5.6% Others2 5.2% Data as at 31 March 2017. Gross revenue and net Real Estate 4.1% property income are for the period from 25 August Number of Leases Energy 4.0% 2016 to 31 March 2017. 5 4 6 10 12 1. Committed occupancy was 99.0%. 2. Others includes F&B, Education and Medical.
29 Property Overview PSA Building
Tenants continue to recognise PSA Building’s quality and the Alexandra Precinct as an S$49.7m attractive alternative to the CBD. Gross Revenue
By providing a complete suite of F&B offerings, convenience shopping and services, ARC is an essential amenities centre for the S$38.5m working population in the vicinity. Net Property Income
98.3% Occupancy1
30 Integrated development comprising a 40-storey office building and a 3-storey retail centre
Net Lettable Area: 523,673 sq ft
Number of Leases: 118
Car Park Lots: 749
Title: Leasehold 99 years wef 1 October 1997 PSA Building Lease Expiry Profile PSA Building Trade Mix by by Gross Rental Revenue Gross Rental Revenue Market Valuation: $735.0 million (as at 31 March 2017) (as at 31 March 2017)
Purchase Price: $477.2 million 42.5% Date of Purchase: 27 April 2011
Key Tenants: Office : 23.0% PSA Corporation Limited, Casino 14.8% 15.0% Regulatory Authority, Bank of Singapore Limited, Mapletree 4.6% Investments Pte Ltd Shipping Transport 31.5% Government Related 13.4% Food & Beverage 13.1% Retail : FY FY FY FY FY Trading 9.8% 17/18 18/19 19/20 20/21 21/22 FairPrice, KFC and Pizza Hut Express, Real Estate 9.0% and beyond McDonald’s, Ichiban Sushi, Auntie Banking & Financial Services 5.0% Energy 4.5% Kim’s Korean Restaurant Beauty 2.2% Others2 11.5% Data as at 31 March 2017. Gross revenue and net property income are for financial year ended 31 Number of Leases 2. Others includes Departmental Store/ March 2017. Hypermart, Education, Medical, Insurance, 25 41 37 11 4 Sports, Retail Bank, Consumer services and 1. Committed occupancy was 98.4%. IT services & Consultancy.
31 Property Overview Mapletree Anson
Mapletree Anson remains an attractive premium office building in the Tanjong Pagar micro-market. With its S$34.5m Grade-A building specifications such as large column-free Gross Revenue floor plates of over 20,000 sq ft per floor, Mapletree Anson has a strong tenant base comprising quality and well- known MNCs. S$27.8m Mapletree Anson has performed particularly well in FY16/17. Net Property Income Occupancy improved to 100% from 91% (as at 31 March 2016). We also achieved a 93.7% retention rate with positive rental uplift. As a result, Mapletree Anson posted 14.2% and 15.8% year-on-year growth in property revenue and NPI. 100% Occupancy
32 19-storey office building in the CBD with Grade A building specifications Mapletree Anson Lease Expiry Mapletree Anson Trade Mix Net Lettable Area: 330,167 sq ft Profile by Gross Rental Revenue by Gross Rental Revenue (as at 31 March 2017) (as at 31 March 2017) Number of Leases: 19
Car Park Lots: 80
29.1% 29.6% Title: Leasehold 99 years wef 22 26.6% October 2007
Market Valuation: $690.0 million
8.1% Purchase Price: $680.0 million 6.7%
Date of Purchase: 4 February 2013
FY FY FY FY FY Key Tenants: 17/18 18/19 19/20 20/21 21/22 J. Aron & Company (Singapore) Pte., and beyond IT Services & Consultancy 27.0% Sumitomo Corporation Asia Pte. Ltd, Trading 26.6% Yahoo! Southeast Asia Pte. Ltd., Allied Banking & Financial Services 18.8% World Assurance Company, Ltd. Others 7.7% Real Estate 6.6% Number of Leases Data as at 31 March 2017. Gross revenue and net Insurance 6.4% Electronics 5.0% property income are for financial year ended 31 1 7 6 2 3 March 2017. Energy 2.0%
33 Property Overview Bank of America Merrill Lynch HarbourFront
Notwithstanding a more competitive leasing market, we completed the early S$17.9m renewal and restructuring of the lease Gross Revenue with BoAML at MLHF in April 2016. With this, BoAML continues to be a key tenant for Level 1 to Level 5 of MLHF. As at 31 March 2017, a new tenant has S$14.3m been secured for part space of Level 6 Net Property Income and multi-tenancy conversion works for MLHF has been completed.
79.2% Occupancy1
34 A 6-storey office building with a basement carpark
Net Lettable Area: 216,561 sq ft
Number of Leases: 2
Car Park Lots: 93
Title: Leasehold 99 years wef 1 October 1997
Market Valuation: $318.0 million
Purchase Price: $311.0 million
Date of Purchase: 27 April 2011 Lease Expiry Profile
Key Tenants: Merrill Lynch Global In April 2016, the lease to Merrill Lynch Global Services Pte. Services Pte. Ltd. Ltd. was renewed and restructured ahead of its original lease expiry in November 2017. The new lease extended its expiry for Data as at 31 March 2017. Gross revenue and net another six years. property income are for financial year ended 31 March 2017. As at 31 March 2017, a new tenant was secured for part of the 1. Committed occupancy was 91.6%. Level 6 space.
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