Frasers Commercial Trust inks lease agreement with Google

The tech giant will take up around 344,100 sqft at Alexandra Technopark for five years.

Frasers Commercial Trust (FCT) has entered into a lease agreement with Google Asia Pacific for the latter to lease space at Alexandra Technopark, an announcement revealed.

Under the terms of lease with British and Malayan Trustees, Google will take up around 344,100 sqft of space, representing approximately 33.3% of the current total nettable area of the property, for five years starting in Q1 2020.

“The average gross rent for the term is comparable to recent signing rents of the property,” Frasers Commercial Asset Management said.

Including the lease, the committed occupancy rate for the property is 93.7%.

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The tech giant was first rumoured to move into Alexandra Technopark in January. The firm already occupies an estimated 500,000 sqft at Mapletree Business City II (MBC II) and is expected to continue expanding its space requirements.