SPH REIT is a Singapore-based real estate investment trust established principally to invest, directly or indirectly, in a portfolio of income-producing real estate which is used primarily for retail purposes in Asia-Paciﬁc, as well as real estate-related assets.
SPH REIT was listed on the Singapore Exchange Securities Trading Limited (“SGX-ST”) on 24 July 2013 and is sponsored by Singapore Press Holdings Limited (“SPH” or the “Sponsor”), Asia’s leading media organisation with publications across multiple languages and platforms.
As at 31 August 2019, SPH REIT’s portfolio comprises four quality and well-located commercial properties in Singapore and Australia. The three properties in Singapore total up to 962,153 sq ft Net Lettable Area (“NLA”) with an aggregate value of S$3.406 billion, whereas the property in Australia has an aggregate Gross Lettable Area (“GLA”) of approximately 236,656 sq ft, with a value of A$206 million. The portfolio consists of:
- Paragon, a premier upscale retail mall and medical suite/office property located in the heart of Orchard Road, Singapore’s premier shopping and tourist precinct. Paragon consists of a six-storey retail podium and one basement level with 494,062 sq ft of retail NLA (“Paragon Mall”), with a 14-storey tower and another three-storey tower sitting on top of the retail podium with a total of 223,098 sq ft of medical suite/offices NLA (“Paragon Medical”). It is a 99-year leasehold interest that commenced on 24 July 2013.
- The Clementi Mall, a mid-market suburban mall located in the centre of Clementi Town, with excellent frontage to residential estates in the West of Singapore and well-connected to expressways and the rest of the island. The retail mall which also houses a public library, is part of an integrated mixed-use development that includes Housing & Development Board (“HDB”) residential blocks and a bus interchange. The property
is directly linked to the Clementi Mass Rapid Transit (“MRT”) station. It is a 99-year leasehold interest that commenced on 31 August 2010, with a total of 195,226 sq ft of retail NLA.
- The Rail Mall, a retail strip with a 360-metre prominent road frontage to Upper Bukit Timah Road. Acquired by SPH REIT on 28 June 2018, it comprises a trade mix to serve the different needs of residents and visitors which includes a supermarket, medical and healthcare services. It is well-served by the Hillview MRT station, which is about 250 metres from the mall as well as a network of public bus services. Accessibility is further enhanced by its proximity to the Bukit Timah Expressway (“BKE”) and Pan Island Expressways (“PIE”). One of the key access points to the Rail Corridor is located within a short walking distance from The Rail Mall.
- Figtree Grove Shopping Centre, an established freehold sub-regional shopping centre in Wollongong, New South Wales Australia, which SPH REIT has a 85% stake in ownership. Located approximately 3 km south-west of the Wollongong Central Business District (“CBD”) and approximately 85 km south-west of Sydney CBD, the property is situated at the north-eastern corner of the Princes Highway and The Avenue – major thoroughfares which carry traffic between Wollongong Central Business District and the wider Wollongong area. The shopping centre houses two major supermarkets, specialty stores, and a variety of services, F&B dining options and other retailers providing convenience and necessity to residents. The property has an aggregate GLA of approximately 236,656 sq ft.