Page 37 - fc ifc

35 MACQUARIE MEAG PRIME REIT
ANNUAL REPORT 2007
TENANT NAME PROPERTY
TRADE
SECTOR
LEASED
AREA
(SQFT)
% OF
PORTFOLIO
GROSS RENT
% OF
PORTFOLIO
NLA
Toshin Development Co Ltd NAC Master Tenant 225,969 25.3% 28.4%
F.L.E.G. International
Co Ltd
Ebisu Fort
Harajyuku Secondo
Nakameguro
Roppongi Terzo
Master Tenant 49,703 4.8% 6.3%
Wing Tai Retail Pte Ltd WA Fashion 19,998 4.3% 2.5%
MWA Pte Ltd WA Food & Beverage 23,121 1.8% 2.9%
RSH (Singapore) Pte Ltd WA Fashion 4,062 1.5% 0.5%
FJ Benjamin Lifestyle Pte Ltd WA Fashion 7,847 1.3% 1.0%
Aspial Singapore Pte Ltd WA Jewellery &
Watches
3,315 1.3 % 0.4%
Fashion Retail Pte Ltd NAC Fashion 3,832 1.2 % 0.5%
National Library Board NAC Library 16,781 1.2% 2.1%
G2000 Apparel (S)
Pte Ltd
WA Fashion 2,799 1.1% 0.4%
Strong Lease Profile
The Portfolio has a range of short and long-term leases
that provide upside in the short term and income
certainty and stability in the long term. In Singapore,
earnings are derived from both retail and office leases
which are generally contracted for a period of three
years, in line with the prevailing market rental practice.
The exception is the Toshin master lease in the Ngee
Ann City Property, which expires in June 2013 with
an option to renew for a further term of 12 years.
The Japanese properties have a mix of master leases
and standard leases expiring within two to eight years.
Renhe Spring Zongbei in China is operated as a
department store with mostly short term concessions.
The weighted average lease term expiry (by Net Lettable
Area or NLA) of the Portfolio is 3.3 years for the period
from 31 December 2007.
Note: The Portfolio lease expiry profile does not include the Chengdu
property as it operates as a department store with short-term concessionaire
leases running 3-6 months
Portfolio Lease Expiry
(as at 31 Dec 07)
0
10
20
30
40
50
24.1% 23.0%
13.9%
15.7%
22.5%
16.1%
38.8%
45.4%
0.4% 0.0%
FY2008 FY2009 FY2010 Beyond 2010 Vacant
%
NLA Gross Rent