HSBC extends lease with CapitaLand Commercial Trust
Add BT as a preferred sourceHSBC, the sole tenant of the HSBC Building at 21 Collyer Quay, has signed a one-year lease extension with landlord CapitaLand Commercial Trust (CCT).
The total rent payable by HSBC for the extended term commencing April 30, 2019 will be S$27.7 million, CCT said on Wednesday.
HSBC is one of CCT's top 10 tenants, contributing about 4 per cent to CCT's monthly gross rental income as at June 30, 2018.
CCT is evaluating options for the property after April 2020 which include refurbishment and re-letting, redevelopment and divestment. It will share more information when the plans are finalised, it said.
The HSBC Building is a 21-storey office tower with a leasehold estate expiring on Dec 18, 2849 and a valuation of S$461 million as at June 30.
CCT units fell 1.14 per cent or two Singapore cents to close at S$1.74 on Wednesday.
Share with us your feedback on BT's products and services
TRENDING NOW
Buyer for England striker Harry Kane’s former mansion must pay £3.4 million after abandoning deal
Ohmyhome Ltd sells real estate business for token US$1 due to poor business and continued losses
Malaysian tycoon Vincent Tan’s sell-downs point to pruning rather than an exit plan
What’s wrong with Orchard Road? Experts weigh in on the street’s cachet and its future
