C A M B R I D G E I N D U S T R I A L T R U S T
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MANAGER’S REPORT
In FY2015 CIT also initiated an AEI to improve the overall
building infrastructure at 86 International Road. It is on
target to be completed in the first quarter of 2016 (TOP
was obtained on 28 Jan 2016). The head tenant, Gliderol
Doors Pte Ltd, extended its existing lease expiring in 2018
for a further 10 years.
A summary of the FY2015 acquisitions and AEIs can be
found in the table below:
Acquisitions
GFA
(Sq ft)
Completion
Purchase Price
($ million)
3 Tuas South Avenue 4
(40% remaining interest in Cambridge SPV1 LLP,
that owns 3 Tuas South Avenue 4)
–
20 March 2015
11.0
160A Gul Circle
86,079
13 May 2015
16.2
*
Total for 2015
86,079
27.2
Proactive Lease Management
WALE remains steady at 3.8 years as at 31 December 2015.
WALE for new and renewal leases entered during the year is 3.7 years. Such leases represented approximately 15% of total portfolio
income as at 31 December 2015.
25
20
15
10
5
0
2016
2017
2018
2019
2020
2021+
9.2
13.4
9.3
13.0
7.1
7.9
7.7
12.9
10.5
6.4
2.6
Single-Tenanted
Multi-Tenanted
%
Expiring Leases as % of Rental Income
* Excluding upfront land premium of $2.9 million.
