Data as at 31 December 2019 (includes Sembawang Shopping Centre which has been divested on 18 June 2019).
Our tenants typically have three-year lease terms. The portfolio lease expiry profile remained evenly spread out as at 31 December 2019, with 21.3% and 28.0% of the leases by gross rental income due for renewal in 2020 and 2021 respectively. The portfolio weighted average lease expiry by gross rental income was 2.1 years. For new leases in 2019, the weighted average lease expiry based on the date of commencement of the leases was 2.7 years and accounted for 36.9% of the leases by gross rental income.
| Year | Number of Leases | % of Gross Rental Income2 |
|---|---|---|
| 2020 | 813 | 21.3 |
| 2021 | 925 | 28.0 |
| 2022 | 972 | 32.0 |
| 2023 | 227 | 9.6 |
| 2024 | 53 | 6.3 |
| 2025 and beyond | 30 | 2.8 |
| Total | 3,0203 | 100.0 |
| Property | Number of Leases | % of Property NLA2 | % of Property Rental Income3 |
|---|---|---|---|
| Tampines Mall | 35 | 26.6 | 23.7 |
| Junction 8 | 37 | 16.4 | 16.9 |
| Funan4 | 19 | 2.6 | 2.4 |
| IMM Building5 | 185 | 23.9 | 24.0 |
| Plaza Singapura | 68 | 34.5 | 30.3 |
| Bugis Junction | 57 | 18.9 | 20.8 | Raffles City Singapore5 | 65 | 21.0 | 19.3 |
| Lot One Shoppers' Mall | 57 | 19.6 | 28.8 |
| The Atrium@Orchard5 | 24 | 10.7 | 14.8 |
| Clarke Quay | 9 | 13.6 | 14.0 |
| Bugis+ | 13 | 11.9 | 14.1 |
| Bedok Mall | 63 | 22.9 | 25.9 |
| Westgate | 73 | 30.7 | 28.8 |
| Other assets6 | 108 | 19.7 | 26.0 |
| CMT Portfolio | 8137 | 20.1 | 21.3 |
CMT's gross rental income is well distributed within its portfolio of more than 3,000 leases. As at 31 December 2019, no single tenant contributed more than 4.0% of the total gross rental income. Collectively, the 10 largest tenants accounted for about 22.1% of the total gross rental income.
| Tenant | Trade Sector | % of Gross Rental Income1 |
|---|---|---|
| RC Hotels (Pte.) Ltd. | Hotel | 3.2 |
| NTUC Enterprise | Supermarket / Beauty & Health / Services/ Food & Beverage / Education / Warehouse | 3.2 |
| Temasek Holdings (Private) Limited | Office | 2.8 |
| Al-Futtaim Group | Department Store / Fashion / Beauty & Health / Sporting Goods | 2.7 |
| BreadTalk Group Limited | Food & Beverage | 2.5 |
| Cold Storage Singapore (1983) Pte Ltd | Supermarket / Beauty & Health / Services / Warehouse | 2.4 |
| BHG (Singapore) Pte. Ltd. | Department Store | 1.7 |
| Golden Village Multiplex Pte. Ltd. | Leisure & Entertainment | 1.2 |
| Wing Tai Retail Management Pte. Ltd. | Fashion / Sporting Goods / Shoes & Bags | 1.2 |
| Isetan (Singapore) Limited | Department Store | 1.2 |
| Total | 22.1 |
CMT's portfolio is well diversified and leverages on many different trade sectors for rental income. As at 31 December 2019, Food & Beverage (F&B) remained the largest contributor to gross rental income at 31.1% of the total portfolio, while Beauty & Health is the second largest contributor to gross rental income at 11.7%. CMT's portfolio has a relatively balanced mix of downtown and suburban malls based on gross revenue and asset valuation.
Breakdown of CMT Portfolio1 by Trade Sector
(% of Gross Rental Income2)
