FCT to sell Anchorpoint Shopping Centre

Frasers Centrepoint Trust (FCT) has plans to divest Anchorpoint Shopping Centre, Singapore, for S$110 million ($82.5 million) to unrelated third parties.

With net lettable area of approximately 6,616 square meters (71,213 square feet) over two retail levels (including one basement level) and an adjacent two-story building, Anchorpoint has a total of 51 tenants as of Sept. 30, 2020. Key tenants include household retailer Mr D.I.Y. and fashion retailer Cotton On, as well as Koufu food court, Xin Wang HK Café, Sakuraya Japanese restaurant, Uncle Leong Signatures seafood restaurant and Jack’s Place restaurant.

The divestment of the property is expected to be completed by March 22, 2021. Post divestment, FCT’s Singapore retail portfolio will consist of 10 retail malls with approximately 2.3 million square feet of net lettable area and more than 1,500 leases with a strong focus on essential trades and services.