China Property

The China Property is located in Chengdu, the capital city of Sichuan province. The property comprises four levels of retail space with a mezzanine floor. Situated within the Second Ring Road, it is in close proximity to high-end residences, offices and the US Consulate in Chengdu. The Nijiaqiao MRT Station is located in front of the property and provides convenient access.

The China Property has secured a long-term tenant, Markor International Home Furnishings Co., Ltd., one of the largest furniture retailers in China. This long-term tenancy agreement, which incorporates a fixed rent with a periodic rental step-up lease, replaced the department store model and provides income stability amidst the challenging retail landscape in Chengdu. The sole tenant renovated the premises and officiated its opening on 28 March 2018.

Property Profile

Address No.19, Renminnan Road, Chengdu, China
Description A four-storey building completed in 2003. Part of a mixed-use commercial complex comprising retail and office.
Positioning Targets the high-end income segment and expatriates.
Year of completion 2003
Occupancy 100%
Gross floor area 100,854 sq ft(1)
Number of tenants 1(1)
Title Leasehold estate expiring on 27 December 2035
Lease type Fixed rent structure with periodic step-up.
Tenant(1)
  • Markor International Home Furnishings Co., Ltd
Valuation S$29.8 million(2)
  1. As at 30 September 2018.
  2. As at 30 June 2018.