SINGAPORE – Shopping-mall owner Frasers Centrepoint Trust (FCT), which owns Causeway Point and Northpoint, said on Friday (Nov 4) it has agreed to purchase all 10 strata-titled retail units at Yishun 10 Cinema Complex for S$37.75 million
“Yishun 10 is strategically located next to FCT’s Northpoint Shopping Centre. This acquisition aligns well with our long-term value creation strategy for Northpoint,” Dr Chew Tuan Chiong, Chief Executive Officer of Frasers Centrepoint Asset Management, the manager of FCT, said in a stock exchange statement.
The purchase consideration took into account the location, occupancy and rental income generated by the Retail Podium, the statement said. An independent aggregate valuation of the 10 units by Jones Lang LaSalle Property Consultants was S$40 million as of end-September, it added.
http://www.todayonline.com/business/fct-acquires-retail-units-yishun-10-cinema-complex-s3775-million
“Yishun 10 is strategically located next to FCT’s Northpoint Shopping Centre. This acquisition aligns well with our long-term value creation strategy for Northpoint,” Dr Chew Tuan Chiong, Chief Executive Officer of Frasers Centrepoint Asset Management, the manager of FCT, said in a stock exchange statement.
The purchase consideration took into account the location, occupancy and rental income generated by the Retail Podium, the statement said. An independent aggregate valuation of the 10 units by Jones Lang LaSalle Property Consultants was S$40 million as of end-September, it added.
http://www.todayonline.com/business/fct-acquires-retail-units-yishun-10-cinema-complex-s3775-million
