Singapore Properties
Ngee Ann City Property
the young and trendy enjoy
Guess, Massimo Dutti and Zara;
and families look out for inter-
generational favourites such as
Books Kinokuniya.
Above the retail podium, office
tenants enjoy the well-furnished
spaces designed for their
convenience and comfort.
The close proximity to amenities
such as restaurants, gyms and
shopping outlets is a plus for
tenants which mainly belong to the
fashion retail and services sectors.
Among these tenants are Chanel,
Coach, Cortina Watch, Embraer,
Ralph Lauren and Tiffany & Co..
TENANT MIX
For FY 2014/15, 75.9% of the
Ngee Ann City Property’s gross
revenue was from retail tenants
and 24.1% from office tenants.
RETAIL TENANT MIX
The top contributors to Ngee
Ann City Property’s retail gross
rent are Toshin and DBS Bank.
For June 2015, Toshin accounted
for 57.3% of the NLA of the Ngee
Ann City Property. Toshin is a
wholly-owned subsidiary of Toshin
Development Co., Ltd., which is in
turn 100% owned by Takashimaya
Company Limited, listed on the
Tokyo Stock Exchange. The Toshin
lease has periodic rent reviews
which provide opportunities for
organic growth for Starhill Global
REIT, while ensuring income
stability and potentially mitigating
fluctuations in the retail market.
The Manager actively manages
the beauty & wellness cluster on
Level 5, also known as “The Fifth”,
constantly rejuvenating the tenant
mix to bring about complementary
offerings such as the DBS Treasures
privilege banking service.
There was a major asset
repositioning to Levels 3 and 4 of
the Ngee Ann City Property retail
floors. Books Kinokuniya moved
up one floor to a smaller floor
plate on Level 4, and Level 3 was
reconfigured and leased to many
popular international retailers such
as FREYWILLE, Kiton, Lululemon
Athletica, Zadig & Voltaire and
ABC Cooking Studio from Japan.
OFFICE TENANT MIX
Fashion retail, consultancy &
services and beauty & healthcare
are the three key trade sectors
contributing to the Ngee Ann City
Property’s office gross rent.
ADVERTISING AND
PROMOTION
Ngee Ann City’s large outdoor
semi-circular Civic Plaza continued
to be a popular venue for many
prestigious events including
concerts, fairs, product launches,
road shows, fashion showcases,
carnivals and lifestyle launches.
Ngee Ann City’s large event hall,
Takashimaya Square, is also a
popular venue for regular bazaars
and events that draw throngs
of shoppers.
1
2
1
Fashion Retail
25.6%
2 Consultancy/Services
19.0%
3 Beauty/Health
17.9%
4 Petroleum Related
16.1%
5 Real Estate & Property Services
8.2%
6 Banking and Financial Services
5.0%
7 Others
4.3%
8 Aerospace
3.9%
OFFICE TRADE MIX
by gross rental contribution
(for Jun 2015)
OCCUPANCY RATE
30 Jun 2015
Office
100.0%
Retail
100.0%
31 Dec 2013
Office
98.3%
Retail
100.0%
31 Dec 2012
Office
98.0%
Retail
100.0%
Chanel’s double-
storey boutique
at Ngee Ann City
Property.
The expanded
Loewe boutique
at Ngee Ann City
Property.
Goyard store at
Ngee Ann City
Property.
1
2
8
7
6
5
4
3
2
1
45
44
STARHILL
GLOBAL
REIT
Annual
Report
FY 2014/15
