M A N A G E R ’ S R E P O R T
Tenant’s Industry Diversification by Gross Rental Income
A-REIT continues to own a spectrum of business space and industrial properties, comprising Business & Science Park properties
(BSP), Integrated Development, Amenities & Retail (IDAR) properties, High-Specifications Industrial properties & Data Centres (HiS),
Light Industrial properties (LI) & Flatted Factories and Logistics & Distribution Centres (Log).
As at 31 March 2015, A-REIT has 107 properties in Singapore and two business park properties in China. These properties serve
the spatial requirements of various segments of the economy. In FY14/15, sources of new demand continued to be broad based
ranging from conventional space requirements of transport and storage, information technology and electronics to higher value
and knowledge intensive industries such as biomedical, financial services and research & development.
Only about 14.0% of A-REIT’s lettable area is involved in conventional manufacturing activities. The remaining space caters to non-
manufacturing activities such as research and development, backroom offices, telecommunications & data centres, software and
media consultancy services as well as transport & storage.
POSITIVE RENTAL REVERSION
For FY14/15, A-REIT’s portfolio achieved positive rental reversions of between 3.2% and 12.4% across the various property
segments, with a weighted average rental reversion of 8.3% for the leases renewed during the year.
Achieved Positive Rental Reversion in FY14/15
Multi-tenant properties
(1)
As at 31 March 2015
FY14/15 Increase in
renewal rates
(2)
Net lettable Area (sqm)
Vacant space (sqm)
Business & Science Park Properties
450,146
57,907
12.4%
High-Specifications Industrial Properties
326,641
56,338
5.1%
Light Industrial Properties & Flatted Factories
325,705
36,225
7.0%
Logistics & Distribution Centres
505,605
103,772
3.2%
Weight Average
8.3%
Notes:
(1) A-REIT’s Singapore portfolio only.
(2) Increase in renewal rental rates for leases renewed in FY14/15 versus previous contracted rates.
Information Technology
M&E and Machinery & Equipment
Telecommunication & Data centre
3rd Party Logistics, Freight Forwarding
Distributors, Trading Companies
Electronics
Financial
Life Science
Food Products & Beverages
Healthcare Products
Construction
Chemical
Medical, Precision & Optical Instruments, Clocks
Hotels and Restaurants
Textiles & Wearing Apparels
Fabricated Metal Products
Repair and Servicing of Vehicles
Printing & Reproduction of Recorded Media
Rubber and Plastic Products
Others
18%
12.1%
16.7%
10.2%
9.2%
8.7%
8.6%
8.1%
6.8%
5.6%
1.9%
1.9%
1.8%
1.7%
1.5%
1.5%
1.1%
0.9%
0.7%
0.7%
0.5%
0%
2%
10%
4%
12%
6%
14%
8%
16%
ASCENDAS REAL ESTATE INVESTMENT TRUST ANNUAL REPORT 2014/15
