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Frasers Commercial Trust renews lease for 2 units at Alexandra Technopark
FRASERS Commercial Trust's trustee has entered into an agreement to renew the lease at #08-05 and #08-08 Alexandra Technopark for three years beginning July 1 to tenant Frasers Property Corporate Services.
Frasers Property Corporate Services is a unit of Frasers Property, the sponsor of Frasers Commercial Trust.
The aggregate gross rental over the term is worth about S$1.48 million, based on a fixed monthly rate, and is not subject to an option to renew.
The manager of Frasers Commercial Trust said the lease would provide stable cash flow and rental income to Frasers Commercial Trust over the next three years.
Units in Frasers Commercial Trust closed one Singapore cent higher at S$1.38 on Friday before the announcement was made.