SPH REIT is a Singapore-based Real Estate Investment Trust (“REIT”) established principally to invest, directly or indirectly, in a portfolio of income-producing real estate which is used primarily for retail purposes in Asia-Pacific, as well as real estate related assets.
SPH REIT was listed on the Singapore Exchange Securities Trading Limited (“SGX-ST”) on 24 July 2013 and is sponsored by Singapore Press Holdings Limited (“SPHL” or the “Sponsor”), Asia’s leading media organisation, with publications across multiple languages and platforms.
As at 31 August 2018, SPH REIT comprises three quality and well-located commercial properties in Singapore totalling 961,523 sq ft Net Lettable Area (“NLA”) with an aggregate appraised value of S$3.368 billion. The portfolio consists of:
- Paragon, a premier upscale retail mall and medical suite/office property located in the heart of Orchard Road, Singapore’s most famous shopping and tourist precinct. Paragon consists of a six-storey retail podium and one basement level with 493,458 sq ft of retail NLA (“Paragon Mall”) with a 14-storey tower and another three-storey tower sitting on top of the retail podium with a total 223,098 sq ft of medical suite/office NLA (“Paragon Medical”); and
- The Clementi Mall, a mid-market suburban mall located in the centre of Clementi town, an established residential estate in the west of Singapore. The retail mall, which also houses a public library, is part of an integrated mixed-use development that includes Housing & Development Board (“HDB”) residential blocks and a bus interchange. The property is connected to the Clementi Mass Rapid Transit (“MRT”) station. The Clementi Mall consists of a five-storey retail podium and one basement level with 195,192 sq ft of retail NLA.
- The Rail Mall, a retail strip with a 360-metre prominent road frontage to Upper Bukit Timah Road. Acquired by SPH REIT on 28 June 2018, it comprises 43 single-storey shop units and 95 private carpark lots.
The Rail Mall has a total NLA of 49,775 sq ft. It is a 99-year leasehold property with a remaining lease tenure of about 28 years. It is well-served by the Hillview MRT station which is about 250 metres from the mall, as well as a network of public bus services. Accessibility is further enhanced by its close proximity to the Bukit Timah Expressway (“BKE”) and Pan Island Expressway (“PIE”).