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GuocoLand’s aim at more modest tenants for Beach Rd project could optimise recurring income

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Kalpana Rashiwala

Kalpana Rashiwala

Published Wed, Feb 8, 2023 · 05:50 AM
    • Guoco Midtown's office tower has received TOP last month. By eschewing dominant anchors, GuocoLand should be able to enjoy a higher weighted average office rental rate for its Beach Road project.
    • Guoco Midtown's office tower has received TOP last month. By eschewing dominant anchors, GuocoLand should be able to enjoy a higher weighted average office rental rate for its Beach Road project. PHOTO: GUOCOLAND

    THE office tenant list at Guoco Midtown has not been a headline-grabbing one. There are few flashy names and no super anchor tenant. Yet, its developer GuocoLand may have a winning formula for recurring income.

    The biggest office tenant secured so far at Guoco Midtown, an integrated mixed development on Beach Road, is Pacific International Lines (PIL).

    The shipping company is understood to be leasing about 70,000 square feet – a size some leasing agents would say makes it a “mini anchor”. PIL will occupy two-and-a-half floors out of the 22 office floors in Guoco Midtown’s 30-storey office tower.

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