SEO Version
FORTERRA
ANNUAL REPORT 2013
TRUSTEE-MANAGER’S REPORT
16
New/Renew Leases Summary
Period
No. of Leases Signed
Average Rental Uplift
on Net Effective Basis
Q1 2013
23
12.4%
Q2 2013
26
7.5%
Q3 2013
10
5.9%
Q4 2013
14
3.6%
FY 2013
73
8.9%
• Occupancy Rate
As at 31 December 2013, the
occupancy rate of the stabilised
assets, namely (i) Forterra House;
and (ii) Beijing Logistics Park, and
The Place Phase 1 (office portion)
was ranged approximately from
91.7% to 100.0%, representing a
sl ight decrease compared to
the range of 93.9% to 100.0%
for the same period last year.
Nonetheless, the occupancy rate
of these assets remained at a high
level. Huai Hai Mall continued its
transition to a pre-development
state with occupancy of 14.3% as
at 31 December 2013 (51.9% as at
31 December 2012), with all leases
expected to be terminated by the
end of the first quarter of 2014.
• Huai Hai Mall
As announced on 2 September
2013, the Trust secured a head
lease over an additional 3,404 sqm
of retail space at Huai Hai Mall
resulting in the expansion of the
total gross floor area of Huai Hai
Mall, which is under the Trust’s
ownership or control, from 7,620
sqm to 11,024 sqm. The lease
is for 20 years with an option,
at Forterra’s discretion, for an
additional 10 years.
1. Formerly known as The HQ Existing
2. Include the office component of The Place
Existing only
100%
90%
80%
70%
60%
50%
40%
30%
20%
10%
0%
92.9%
91.7%
14.3%
93.9%
51.9%
66.3%
67.9%
100%
100%
100%
Forterra House
STABILISED ASSETS
TRANSITIONAL ASSETS
Beijing
Logistics Park
The Place
Existing
(1)(2)
Huai Hai
Mall
Central Park
Mall (Phase 1)
As at 31 Dec 2013
As at 31 Dec 2012
Committed Portfolio Occupancy
1. Exclude the data of Beijing Logistics Park as the
project is classified as assets held for sale
18%
16%
14%
12%
10%
8%
6%
4%
2%
0%
16.5%
16.0%
10.8%
10.8%
15.1%
15.1%
2014
2015
2016
Income Producing
Assets
Office
Retail
0.4%
0.0%
0.0%
Leasing Expiry Profile
(as % of Gross Lettable Area)
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