LEASE RENEWALS AND NEW LEASES
The retention rate of our tenants in 2014 was 79.4%, reflecting our strong relationship with our tenants
as well as 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 2014 saw an average increase of 6.1% against preceding rental rates at the end
of typical three-year leases.
Summary of Renewals/New Leases
(From 1 January to 31 December 2014) (excluding newly created and reconfigured units)
Property
Number
of
Renewals/
New Leases
for Retail
Units only
Retention
Rate
Net Lettable Area
(NLA)
Increase in
Current Rental
Rates vs
Preceding
Rental Rates
(Typically
committed three
years ago)
Area
Percentage
of Mall
% sq ft
%
%
Tampines Mall
47
78.7 97,234
27.4
6.4
Junction 8
55
87.3 97,053
38.4
6.8
Funan DigitaLife Mall
31
80.6 39,940
13.4
1.5
IMM Building
14
50.0 18,785
4.4
(1.8)
Plaza Singapura
57
78.9 163,957
34.0
7.0
Bugis Junction
54
59.3 66,943
16.9
6.6
JCube
16
81.3 28,051
13.6
12.2
1
Raffles City Singapore
43
76.7 187,728
44.7
5.7
Lot One Shoppers’ Mall
77
85.7 81,977
37.3
6.2
Bukit Panjang Plaza
27
77.8 11,670
7.1
7.3
The Atrium@Orchard
5
100.0
1,851
1.4
3.7
Clarke Quay
20
90.0 69,142
26.7
6.9
Bugis+
7
100.0
4,876
2.3
8.6
Other assets
2
37
86.5 29,619
13.2
5.4
CMT Portfolio
490
79.4 898,826
22.2
6.1
1 Includes renewal of a mini-anchor lease that was signed in 2005.
2 Includes Sembawang Shopping Centre and Rivervale Mall.
Operations Review
58 | CapitaMall Trust Annual Report 2014
