Here’s a selection of Singapore-listed companies that released noteworthy announcements this week (in chronological order).
AIMS APAC REIT Extends Lease With Its Largest Tenant
Industrial real estate investment trust (REIT), AIMS APAC REIT (SGX: O5RU), and its joint venture partner, Stockland, have inked a lease renewal agreement with its largest tenant, Optus Administration Pty Limited (Optus), for another 12 years at the Optus Centre property in Macquarie Park, New South Wales, Australia. Optus is a wholly-owned subsidiary of Singapore Telecommunications Limited (SGX: Z74) (Singtel).
The new lease will start from 1 July 2021 after completion of an asset enhancement initiative (AEI) to cater to Optus’ latest requirements.
The 12-year master lease has an annual rental escalation of 3.25% on face rent, and two, five-year options to extend the contract after the initial lease term. The average net property income over the 12-year lease term, after rental escalation, is estimated to