Frasers Centrepoint acquires Starhub Centre for $380mln

Addition of 333,000sq.ft building in the heart of Orchard Road will extend FCL's land to 2.2mlnsq.ft.

Frasers Centrepoint Limited (FCL) has agreed to acquire Starhub Centre from CapitaCommercial Trust for a cash consideration of S$380 million. Starhub Centre, a 10-storey commercial building with a gross floor area of approximately 333,000 square feet, is located on Cuppage Road, and is next to The Centrepoint, FCL’s retail mall in Orchard Road, according to a Frasers Centrepoint announcement.

“We are glad to acquire Starhub Centre. This acquisition boosts our current landbank to 2.2 million square feet. With its strategic location in the heart of Orchard Road, the Starhub Centre has great redevelopment potential for a high-end mixed residential and retail development,” said Mr Lim Ee Seng, Chief Executive Officer of Frasers Centrepoint.

Starhub Centre will continue to be leased out as an office / retail property until such time as redevelopment options and designs are firmed up by the company, and planning approvals are obtained.