Page 70 - ar2013

SEO Version

Operations
Review
LEASE RENEWALS AND NEW LEASES
The retention rate of our tenants in 2013 was 82.5%, reflecting our proactive lease management to constantly
refresh the tenant mix in each property to remain relevant and attractive to our shoppers. On a portfolio basis, rental
rates for lease renewals and new leases in 2013 saw an average increase of 6.3% against preceding rental rates.
SUMMARY OF RENEWALS/NEW LEASES
From 1 January to 31 December 2013 (excluding newly created and reconfigured units)
Number of
Renewals/
New Leases
for Retail
Units only
Net Lettable Area (NLA)
Increase in Current
Rental Rates vs
Preceding Rental Rates
Retention
Rate
Area
Percentage
of Mall
Property
%
sq ft
%
(Typically committed
three years ago)
%
Tampines Mall
52
86.5 121,405
36.8
5.4
Junction 8
66
80.3
94,020
37.3
6.1
Funan DigitaLife Mall
64
89.1 132,143
44.3
6.4
IMM Building
76
81.6 118,454
28.5
6.9
Plaza Singapura
69
88.4
90,315
18.7
6.3
Bugis Junction
67
80.6
44,897
11.4
7.2
Raffles City Singapore
96
78.1 129,299
30.7
6.0
Lot One Shoppers’ Mall
26
80.8
22,917
10.4
7.1
Bukit Panjang Plaza
47
85.1
66,531
43.7
6.1
Clarke Quay
26
73.1
95,692
37.0
7.2
JCube
4
100.0
1,119
0.5
3.8
Bugis+
1
0.0
65
0.1
7.1
Other assets 
1
35
80.0
25,880
12.0
5.8
CMT Portfolio
629
82.5 942,737
24.4
6.3
1
Includes Sembawang Shopping Centre and Rivervale Mall.
PORTFOLIO LEASE EXPIRY PROFILE
Our tenants typically have three-year lease terms. The portfolio lease expiry profile remained well spread out as at
31 December 2013, with 21.0% and 31.0% of the leases by gross rental income due for renewal in 2014 and 2015
respectively.
PORTFOLIO LEASE EXPIRY PROFILE
 1
As at 31 December 2013
Number of
Leases
% of Gross
Rental Income
2
2014
696
3
21.0
2015
1,028
31.0
2016
930
27.3
2017 and beyond
300
20.7
Total
2,954
100.0
1
Based on committed leases; includes CMT’s 40.00% interest in Raffles City Singapore (office and retail leases, excluding hotel lease) and CMT’s 30.00%
interest in Westgate.
2
Based on the month in which the lease expires and excludes gross turnover rent.
3 Of which 568 leases are retail leases.
Clarity
68
CapitaMall Trust
Annual Report 2013