Asset Portfolio
55 Market Street
55 Market Street
55 Market Street
55 Market Street
55 Market Street
55 Market Street
55 Market Street
55 Market Street
55 Market Street
55 Market Street
55 Market Street
55 Market Street
55 Market Street

55 Market Street is a commercial property located in Singapore’s financial district. It is a 16-storey building, comprising 15 floors of office space and two floors of retail space (including the basement).

55 Market Street is within a 5-minute walk from Raffles Place MRT Station and also close to several bus stops with services that ply most parts of Singapore. It is also within a 10-minute walk from the Telok Ayer MRT station (Downtown Line) which opened on 22 December 2013.

As part of the green initiative, motion sensors were installed at staircase of the building to dim the lights to conserve energy. 55 Market Street was awarded the Green Mark Gold Award by the Building Construction Authority of Singapore for its green initiatives.

Address

55 Market Street, Singapore 048941

Tenure

Leasehold 999 years commencing April 1826

Net Lettable Area (NLA)

71,796 sq ft
(6,670 sqm)

Car PARK SPACES

Nil

Purchase Price

S$72.5 million

Acquisition Date

22 November 2006

VALUATION AS AT
30 SEPTEMBER 2017

S$139.0 million

Financial Information

Financial years FY15 FY16 FY17
Gross revenue ($ '000) 6,037 5,887 5,876
Net property income ($ '000) 4,258 4,202 4,247
Occupancy rate (at end of period) 95.8% 92.0% 90.0%*

* Committed occupancy as at 30 September 2017.

Lease expiry profile as at 30 September 2017

Lease expiry profile FY18 FY19 FY20 FY21 FY22+
Number of leases expiring 7 5 3 3 -
NLA (sq ft) expiring 21,109 21,690 9,644 9,774 -
Expiries as % total NLA 29.4% 30.2% 13.4% 13.6% -
Expiries as % total Gross Rental Income 34.6% 34.6% 14.9% 15.9% -