CapitaCommercial Trust (CCT) and its parent company CapitaLand plan to jointly develop Market Street Car Park into a office tower. The project cost is estimated to be about S$1.4 billion. In a joint statement, both companies said that based on this figure, the development is considered financially viable. The stabilised yield from the completed development is expected to exceed 6 per cent per...
CapitaCommercial Trust
CapitaCommercial Trust (CCT) on Wednesday said that its fourth-quarter distribution per unit (DPU) was 1.94 Singapore cents. CCT reported a DPU of 1.88 Singapore cents in the fourth quarter of 2009. Distributable income for the three-month period ended December 2010 rose 3.4 percent to S$54.7 million, up from the previous year's figure of nearly S$53 million. For the full year, its distributable income...
Office landlord CapitaCommercial Trust (CCT) said today that its distribution per unit (DPU) for the third quarter came in at 1.99 Singapore cents, 7.6 per cent higher than the 1.85 cents declared the same period a year ago. This brings CCT's year to date DPU to 5.89 cents, 13.7 per cent more than the 5.18 cents DPU announced for the same period last year. According to analysts, the growth in CCT's...
Office landlord CapitaCommercial Trust said its distribution per unit for the second quarter came in at 1.97 Singapore cents. When adjusted for its rights issue, the DPU is 15.2 percent higher than the 1.71 cents declared for the year-ago period. This brings CCT's first half DPU to 3.9 cents, 17.1 per cent more than the 3.33 cents DPU announced for the same period last year after adjusting for the rights...
CapitaCommercial Trust (CCT) is selling the StarHub Centre to Frasers Centrepoint for S$380 million in cash. StarHub Centre is a 10-storey non-Grade A office building with retail space next to FCL's Centrepoint mall. It currently has a committed occupancy of 68.2 per cent and some 280,000 square feet of lettable space. The current lease for the site expires in January 2095. CCT disclosed that it has...
CapitaCommercial Trust says it has yet to make a decision on its StarHub Centre property. It says it is evaluating all options for its asset plan for the property and has not arrived at any decision at this point. As part of the evaluation process, CCT says it conducted a non-legally binding expression of interest exercise to ascertain interest for the sale of the property. It adds that there is no...
CapitaCommercial Trust has repurchased some S$49.5 million worth of convertible bonds from an issue it had made in May 2008, which are due in 2013. This reduces the outstanding principal amount of the bonds from the original S$370 million to S$180 million, following a series of prior buy-backs and cancellations in February and April this year. The repurchase was funded by the net cash proceeds of a...
CapitaCommercial Trust plans to spend about S$92 million for asset enhancement work on its existing Grade A office building at Six Battery Road. Based on the property's valuation as at end December 2009, the cost is equivalent to approximately eight per cent. CCT says Six Battery Road will be physically, technically and functionally enhanced to meet the modern-day needs of office tenants and improve the...
CapitaCommercial Trust (CCT) believes that Raffles Place has not lost its attraction as a business district. This is according to its chief executive officer Lynette Leong, who spoke on the sidelines of the trust's Annual General Meeting on Wednesday. CCT has three office properties in the Raffles Place area. The new Marina Bay Financial Centre has been attracting many financial institutions to relocate...
CapitaCommercial Trust (CCT) on Friday reported that its first quarter distribution per unit (DPU) stood at 1.93 cents. CCT said the DPU, which has been adjusted for rights issue, is 19.1 per cent higher than the 1.62 cents achieved a year ago. Distributable income for the three months ended March 31 rose 19.7 per cent to S$54.3 million. CCT said higher rental contribution from the trust's properties...