Alexandra Technopark’s occupancy grew 7.4 percentage points to 85.9%, as tenants were secured for about 25% and 13% of the first and second tranche respectively of Google’s space. To recap, Google’s first and second tranche of space — which are expired or expiring in February and December — covers 150,000 and 218,000 square feet, respectively, a total of about 4% of the trust’s gross rental income.
Citi Research analysts Brandon Lee is keeping “buy” on Frasers Logistics and Commercial Trust (FLCT) with a target price of $1.24 following the trust’s ‘incrementally positive’ 3QFY2024 ended June business update.
In his July 31 note, Lee points out that FLCT’s commercial occupancy improved 2.6 percentage points q-o-q to 87.6%, reversing three consecutive quarters of declines. This is largely helped by Farnborough Business Park, Alexandra Technolopark, Maxis Business Park and 357 Collins Street, but mitigated by the Blythe Valley Park and Central Park.
