Frasers Commercial Asset Management, in its capacity as manager of Frasers Commercial Trust (FCOT), has entered into a lease agreement with Google Asia Pacific (Google) for the latter to lease space at Alexandra Technopark.
Under the terms of lease with British and Malayan Trustees, Google will take up around 344,100 square feet of space, representing approximately 33.3% of the current total net lettable area of the property, for a term of five years commencing in the first quarter of 2020.
”The average gross rent for the term is comparable to recent signing rents for the property,” said Frasers Commercial Asset Management in an announcement.
The committed occupancy rate for the property realized as 93.7% with this lease agreement.
Located in the prominent Alexandra business corridor, Alexandra Technopark is a 15-minute drive from the Central Business District of Singapore and within walking distance of the Labrador Park MRT station, with close proximity to amenities and major expressways.
Alexandra Technopark is a high-specification business area development comprising three blocks of buildings. The 8 and 9-storey development houses a range of amenities such as F&B outlets, a medical clinic and other support services for the convenience of both tenants and visitors alike.