The much anticipated news is finally released. It is confirmed that HP will be vacating 178,873 square feet of space out of their current 191,846 square feet of space in Alexandra Technopark based on the expiration of their leases. This will also mean that they are vacating 93.2% out of the space they're currently occupying.
The space they are vacating will constitutes to about 17.1% of the total net lettable area in ATP and 6.6% of FCOT's total gross rental income for the month ended in 30 June 2017.
The manager of FCOT has secured commitment by a tenant of about 24,000 sqft (13.4%) of the space vacated by HP. As such, the drop of FCOT GRI at this point will stands at 5.71% and 14.8% of total net lettable area in ATP.
FCOT's announcement on 22 September 2017
Is their ......