Quantum Healthcare signs as anchor tenant at Hatten Land’s Imperio Mall in Melaka
Chong Xin Wei
CATALIST-LISTED medical group Quantum Healthcare has entered into a tenancy agreement with developer Hatten Land to occupy 138,769 square feet (sq ft) of rental space at the Imperio Mall@Hatten City in Melaka.
On Tuesday (Jun 13), both parties announced that Quantum Healthcare will also have the option to lease up to 72,098 sq ft within the initial term of three years.
Following the initial term, there will be an option to renew the agreement for a further period of two terms comprising three years each, subject to new monthly rental rates.
The tenancy agreement will begin on Oct 1 – or when actual business commences – for a total tenure of nine years.
The latest development comes after Hatten Land and Quantum Healthcare inked a strategic partnership agreement in March with the aim of repurposing Imperio Mall, including bringing in premium medical and healthcare-related facilities and services.
As the anchor tenant of Imperio Mall, Quantum Healthcare plans to establish a centralised outpatient centre, Quantum Specialist Centre.
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The centre is expected to open in phases from the second half of 2023, and will feature facilities such as operating theatres, imaging centres, aesthetic and specialist clinics, as well as Quantum Healthcare’s corporate offices.
Quantum Healthcare said it is also in discussions with various medical specialists, food and beverage vendors, and medical parties on sub-leasing arrangements.
Although the company will handle leasing of spaces as a master tenant, it claims that this does not constitute a diversification into the leasing business as it complements the group’s core business of “managing and providing a comprehensive range of medical services”.
Quantum Healthcare also said its marketing efforts will focus on promoting its outpatient care centre as a “one-stop destination for diverse specialist needs”.
“Through these strategies, we aim to generate increased footfall and overall traffic for the entire centre, thereby reinforcing its position within the medical and wellness industry as part of our diversification mandate,” it added.
The group expects its signed tenancy agreement to contribute positively to its net assets and financial performance for the financial year ending Dec 31.
Separately, the deal is expected to positively impact Hatten Land’s net assets and financial performance for the financial year ending Jun 30, 2024.
Having Quantum Healthcare as an anchor tenant could potentially increase the value and attract more attention to Hatten Land’s unsold property assets, which include residential units and commercial units of the malls, said the developer.
Shares of Hatten Land closed 12.5 per cent or S$0.002 higher at S$0.018 on Tuesday, while Quantum Healthcare was flat at S$0.005.
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