Renhe Spring Zongbei Property
The property is located in Chengdu, China, one of the most populous provinces in China, and situated close to consulates in a high-end commercial and high income area.
The Manager is in the midst of converting the existing departmental store with a gross turnover rent structure into a long-term tenant model with a fixed rent lease. Handover is expected in 3Q FY16/17.
|Address||No.19, Renminnan Road, Chengdu, China|
|Description||A four-storey retail podium plus a mezzanine floor 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|
|Committed occupancy||100% as at 31 December 2016|
|Gross floor area||100,854 sq ft|
|Number of tenants||1 (as at 31 December 2016)|
|Title||Leasehold estate of 40 years expiring on 27 December 2035|
|Lease type||In the midst of converting into a long-term tenant model with a fixed rent lease|
|Selected brands of tenants||
|Valuation||RMB 158 million (as at 31 December 2016)|