AXA becomes anchor tenant of 8 Shenton Way

Global financial services provider AXA will become the anchor tenant for the office building, 8 Shenton Way, located within the Central Business District.

The group has worked out the agreement with MGPA, a private equity real estate investment advisory company, which owns the building.

Under a six-year term, AXA will occupy five floors totaling about 70,000 square feet.

The company has an option to lease another entire floor of some 14,000 square feet.

About 2,400 square feet of space in the main lobby will also be converted into AXA’s customer service facility.

The potential aggregate area which AXA will lease is about 87,000 square feet.

That makes up about 14 per cent of the total office area available for lease in the 52-storey office building.

In a news release on Thursday, MGPA said 8 Shenton Way will be a key hub for AXA’s Asian operations.

MGPA added that with AXA’s tenancy, the committed occupancy for 8 Shenton Way has gone up by about nine per cent to 92.4 per cent as at June 30.

Source : Channel NewsAsia – 13 Aug 2010