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HEWLETT-PACKARD Enterprise Singapore (HPE) will vacate the majority of occupied space at Alexandra Technopark (ATP) upon the expiration of relevant leases later this year, announced the manager of Frasers Commercial Trust (FCOT) in a filing with the Singapore Exchange.
HPE occupies a total of 191,846 square feet of space at ATP, of which 178,843 square feet will be vacated. The space to be vacated constitutes approximately 17.1 per cent of the total net lettable area of ATP and 6.6 per cent of FCOT's total gross rental income for the month ended June 30, 2017.
FCOT's manager said that it has already secured commitment by a tenant for around 24,000 square feet (13.4 per cent) of the space that will be vacated by HPE.
It is still in discussion with another tenant, Hewlett-Packard Singapore (HPS), which occupies approximately 304,920 sq ft of space at ATP under leases expiring on Nov 30, 2017 and constituting approximately 11.1 per cent of FCOT's total gross rental income for the month ended June 30, 2017, with regard to their plans for the space.
The manager said that it will announce material developments with regard to these leases at the appropriate time.