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Frasers Commercial Trust's trustee inks lease agreement with Google
A TRUSTEE of Frasers Commercial Trust has entered into a lease agreement with Google Asia-Pacific for Google to lease space at Alexandra Technopark.
Frasers Commercial Trust's manager said on Tuesday that under the terms of the lease with British and Malayan Trustees Limited, Google will take up around 344,100 square feet of space, representing 33.3 per cent of the current total net lettable area of the property.
The lease will last for five years and commence in the first quarter of 2020. The average gross rent for the term is comparable to recent signing rents for the property, said the manager.
Including the lease, the committed occupancy rate for the property is 93.7 per cent as at June 25.