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SINGAPORE
PROPERTIES
RETAIL TENANT MIX
The top contributors to Ngee Ann City
Property’s retail gross rent are Toshin
and DBS Bank. Toshin occupies all retail
areas in Ngee Ann City Property except
Level 5, which is actively managed by
the Manager. As at 30 June 2017, Toshin
accounted for 86.3% of the gross rent
of the Ngee Ann City Property (Retail).
Toshin is a wholly-owned subsidiary of
Toshin Development Co., Ltd., which is
in turn wholly-owned by Takashimaya
Company Limited, listed on the Tokyo
Stock Exchange. The Toshin lease,
which expires in 2025, 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 with a downside
rent protection. The last rent review
was concluded in June 2016 with
about 5.5% increase in base rent
for the three years commencing
8 June 2016.
The Manager actively manages the
beauty & wellness cluster on Level 5,
constantly rejuvenating the tenant mix
with complementary offerings.
OFFICE TENANT MIX
Fashion Retail, Petroleum-related and
Consultancy/Services are the top three
Books Kinokuniya at Ngee Ann City Property
Goyard boutique at Ngee Ann City Property
trade sectors contributing to the Ngee
Ann City Property’s office gross rent.
ADVERTISING AND PROMOTION
Ngee Ann City’s large outdoor
semicircular Civic Plaza is 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.
RETAIL TRADEMIX
BY GROSS RENTAL CONTRIBUTION
(AS AT 30 JUN 2017)
0.5
%
GENERAL
TRADE
86.3
%
TOSHIN
10.7
%
BEAUTY &
WELLNESS
2.5
%
SERVICES
OFFICE TRADEMIX
BY GROSS RENTAL CONTRIBUTION
(AS AT 30 JUN 2017)
Fashion Retail
23.6%
Petroleum-related
17.6%
Consultancy/Services
15.0%
Beauty/Health
14.0%
Others
11.7%
Real Estate &
Property Services
8.6%
Banking &
Financial Services
5.2%
Aerospace
4.3%
* SGREIT does not own this strata.
38
STARHILL GLOBAL REIT ANNUAL REPORT FY 2016/17