Press release
Presentation
Key Points
- Six Battery Road will be physically, technically and functionally enhanced to meet the modern-day needs of office tenants and improve the building’s energy efficiency and environmental sustainability.
- The works are scheduled to commence in October 2010 and executed in phases over four years at a total capital expenditure of approximately S$92 million.
- Based on the property’s valuation as at end-December 2009, the cost is equivalent to approximately 8%.
On page 39 of the presentation slides, the forcast value creation is as follows:
| Incremental Gross Revenue | S$9.2 mil |
| Incremental Net Property Income | S$7.4 mil |
| Capital Expenditure | S$92.0 mil |
| Projected return on investment (on a stabilised basis) | 8.1% |
| Capital Value of AEI (assumed at 4.25% capitalisation rate) | S$174 9 mil |
| Increase in Value (net of investment cost) | S$82.9 mil |
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