Bookmark & Share
The tech giant will take up about 344,100 sq ft of space for five years. starting in the first quarter of 2020.
Frasers Commercial Trust (FCT) and Google Asia Pacific have entered into a lease agreement which will see the latter leasing space at Alexandra Technopark.
Under the terms of the lease, the tech giant will take up about 344,100 sq ft of space, which represents about 33.3 percent of Alexandra Technopark’s current total net lettable area, for five years starting in the first quarter of 2020.
In an SGX filing, FCT noted that the average gross rent for the term is comparable to recent signing rents for Alexandra Technopark.
Including the lease, Alexandra Technopark’s committed occupancy rate stands at 93.7 percent.
It was first rumoured in January that Google wanted to move into Alexandra Technopark. The firm already occupies about 500,000 sq ft at Mapletree Business City II and is expected to continue growing its space requirements, reported Singapore Business Review.
Victor Kang, Digital Content Specialist at PropertyGuru, edited this story. To contact him about this or other stories, email victorkang@propertyguru.com.sg
Related Articles:
Frasers Commercial Trust wins good governance awards