FLCT renews 12-year lease for Australian office building
As at Mar 31, the Caroline Chisholm Centre accounted for 3.2% of FLCT’s portfolio value
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THE manager of Frasers Logistics and Commercial Trust (FLCT) on Thursday (Oct 10) said the trust has renewed the lease at its Grade A office building in Canberra, Australia, for 12 years beginning Jul 5, 2025.
Its tenant, the Commonwealth Government of Australia, will take up 100 per cent of the 99-year leasehold office complex’s lettable area.
The five-storey Caroline Chisholm Centre is situated in the core of Tuggeranong Town Centre in Canberra with a net lettable area of 40,244 square metres. It has been wholly leased to the Commonwealth Government of Australia since July 2007.
As at Mar 31, the building accounted for 3.2 per cent of FLCT’s portfolio value.
According to the trust’s latest half-year briefing, the Caroline Chisholm Centre is valued at around S$216.6 million, or 11 per cent of the trust’s commercial portfolio. It has a weighted average lease expiry of 1.3 years.
Units of FLCT closed at S$1.13 on Thursday, down 1.7 per cent or S$0.02.
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