CapitaLand Commercial Trust signs lease extension with HSBC for 21 Collyer Quay

Singapore five-dollar note Photo by Leslie Shaffer

CapitaLand Commercial Trust signed a one-year lease extension for all of 21 Collyer Quay with HSBC on Wednesday, with the total rent payable for the term beginning 30 April 2019 at S$27.7 million, the trust manager said on Wednesday.

Currently, HSBC is leasing the entire building and is one of CapitaLand Commercial Trust’s top ten tenants, contributing around 4 percent of the trust’s monthly gross rental income as of 30 June, it said in a filing to SGX after the market close on Wednesday.

The office building at 21 Collyer Quay is 200,000 square feet, with a leasehold expiring in 2849 and a valuation of S$461.0 million as of 30 June, it said.

“In line with CCT’s proactive asset management strategy, the manager is evaluating options for the property after April 2020 which include refurbishment and re-letting, redevelopment and divestment,” it said.

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