Showing posts with label OUE Bayfront. Show all posts
Showing posts with label OUE Bayfront. Show all posts
Tuesday, January 28, 2014
Friday, January 10, 2014
Wednesday, January 8, 2014
OUE’s $451 mil Singapore REIT IPO to be launched next week
OUE’s $451 mil Singapore REIT IPO to be launched next week
Tuesday, 07 January 2014
Tuesday, 07 January 2014
© 2014 - The Edge Singapore
- wong chee tat :)
Monday, November 25, 2013
OUE seeks shareholders’ approval to sell OUE Bayfront into its REIT for at least $1 bil
OUE seeks shareholders’ approval to sell OUE Bayfront into its REIT for at least $1 bil
WRITTEN BY THE EDGE
WEDNESDAY, 20 NOVEMBER 2013 13:06
OUE is seeking approval from its shareholders to sell OUE Bayfront into the commercial real-estate investment trust (OUE C-REIT) it is planning to list for a consideration least $1 billion.
An extraordinary general meeting (EGM) for shareholders to vote on the transaction will be held on December 4.
OUE Bayfront is an 18-storey premium office building with rooftop restaurant premises located at 50 Collyer Quay, which is complemented by retail facilities at its ancillary properties, namely OUE Tower, a conserved tower building located at 60 Collyer Quay with panoramic views of the Marina Bay landscape which is currently occupied by a fine-dining restaurant and OUE Link, a link bridge located at 62 Collyer Quay with retail units.
Based on the valuation of OUE Bayfront by Cushman & Wakefield VHS as at September 30, 2013, the property is valued at $1.01 billion and at $1.4 billion when income support is taken into account.
Assuming that the OUE Bayfront Property is sold for the minimum price of $1 billion, the sale consideration may comprise a cash component of $696.9 million and
a cash-equivalent component comprising units in the commercial REIT worth $308.1 million.
OUE intends to use the cash proceeds for the following purposes to pay down existing debt of US$376.6 million and for general corporate and working capital purposes.
The EGM will also see shareholders voting on OUE's proposal to distribute to shareholders about 25.6% of the company-held OUE H-Trust stapled securities to shareholders, on the basis of 1 company-held OUE H-Trust stapled security for every 6 shares held.
OUE “intends to retain approximately 33 to 35% of the total number of OUE H-Trust stapled securities in issue” after the distribution, it said.
LAST UPDATED ON WEDNESDAY, 20 NOVEMBER 2013 13:12
- wong chee tat :)
WRITTEN BY THE EDGE
WEDNESDAY, 20 NOVEMBER 2013 13:06
OUE is seeking approval from its shareholders to sell OUE Bayfront into the commercial real-estate investment trust (OUE C-REIT) it is planning to list for a consideration least $1 billion.
An extraordinary general meeting (EGM) for shareholders to vote on the transaction will be held on December 4.
OUE Bayfront is an 18-storey premium office building with rooftop restaurant premises located at 50 Collyer Quay, which is complemented by retail facilities at its ancillary properties, namely OUE Tower, a conserved tower building located at 60 Collyer Quay with panoramic views of the Marina Bay landscape which is currently occupied by a fine-dining restaurant and OUE Link, a link bridge located at 62 Collyer Quay with retail units.
Based on the valuation of OUE Bayfront by Cushman & Wakefield VHS as at September 30, 2013, the property is valued at $1.01 billion and at $1.4 billion when income support is taken into account.
Assuming that the OUE Bayfront Property is sold for the minimum price of $1 billion, the sale consideration may comprise a cash component of $696.9 million and
a cash-equivalent component comprising units in the commercial REIT worth $308.1 million.
OUE intends to use the cash proceeds for the following purposes to pay down existing debt of US$376.6 million and for general corporate and working capital purposes.
The EGM will also see shareholders voting on OUE's proposal to distribute to shareholders about 25.6% of the company-held OUE H-Trust stapled securities to shareholders, on the basis of 1 company-held OUE H-Trust stapled security for every 6 shares held.
OUE “intends to retain approximately 33 to 35% of the total number of OUE H-Trust stapled securities in issue” after the distribution, it said.
LAST UPDATED ON WEDNESDAY, 20 NOVEMBER 2013 13:12
- wong chee tat :)
Tuesday, July 26, 2011
Grade A office properties command respectable take up rates
Grade A office properties command respectable take up rates
By Linette Lim | Posted: 26 July 2011 2110 hrs
SINGAPORE: Grade A office properties in the Marina Bay and Raffles Place vicinity have been commanding respectable take-up rates.
Overseas Union Enterprise's OUE Bayfront, which obtained its temporary occupancy permit (TOP) in January, has committed leases of 77 per cent of its 500,000 square feet of net lettable area.
OUE said that its latest tenants include international law firm Hogan Lovells International and Union Bancaire Privee.
Just across the road, Ocean Financial Centre Phase 1 has an occupancy rate of 82.6 per cent. The building received its TOP in April and has 850,000 square feet of office space.
"It would have been easy for these buildings to rent out all its space but the issue here is to maintain its rents at a certain rate," said Donald Han, vice-chairman, Cushman & Wakefield, adding that the rents in these buildings are likely to "cross S$13 per square foot".
Mr Han also said that so far, office rents have grown about six per cent per quarter. He expects this to slow to three to four per cent as tenants move to newly completed buildings in the Marina Bay area, resulting in vacancies in older ones.
With more office space coming up around the Marina Bayfront area some wonder if older buildings around Raffles Place could see tenants migrate.
For now, though, this seems unlikely.
"Raffles Place will still hold its own. This is because of the clustering effect there, transportation and its reputation," said Nicholas Mak, executive director fo research & consultancy at SLP International.
-CNA/ac
- wong chee tat :)
By Linette Lim | Posted: 26 July 2011 2110 hrs
SINGAPORE: Grade A office properties in the Marina Bay and Raffles Place vicinity have been commanding respectable take-up rates.
Overseas Union Enterprise's OUE Bayfront, which obtained its temporary occupancy permit (TOP) in January, has committed leases of 77 per cent of its 500,000 square feet of net lettable area.
OUE said that its latest tenants include international law firm Hogan Lovells International and Union Bancaire Privee.
Just across the road, Ocean Financial Centre Phase 1 has an occupancy rate of 82.6 per cent. The building received its TOP in April and has 850,000 square feet of office space.
"It would have been easy for these buildings to rent out all its space but the issue here is to maintain its rents at a certain rate," said Donald Han, vice-chairman, Cushman & Wakefield, adding that the rents in these buildings are likely to "cross S$13 per square foot".
Mr Han also said that so far, office rents have grown about six per cent per quarter. He expects this to slow to three to four per cent as tenants move to newly completed buildings in the Marina Bay area, resulting in vacancies in older ones.
With more office space coming up around the Marina Bayfront area some wonder if older buildings around Raffles Place could see tenants migrate.
For now, though, this seems unlikely.
"Raffles Place will still hold its own. This is because of the clustering effect there, transportation and its reputation," said Nicholas Mak, executive director fo research & consultancy at SLP International.
-CNA/ac
- wong chee tat :)
Subscribe to:
Posts (Atom)