PARAGON REIT

PARAGON REIT is a Singapore-based real estate investment trust established principally to invest, directly or indirectly, in a portfolio of income-producing real estate which is used primarily for retail purposes in Asia Pacific, as well as real estate-related assets.

PARAGON REIT was listed on the Singapore Exchange Securities Trading Limited (“SGXST”) on 24 July 2013. Its sponsor, Cuscaden Peak Investments Private Limited is a wholly owned subsidiary of Cuscaden Peak Pte. Ltd. (“Cuscaden Peak”), a consortium comprising three shareholders – Hotel Properties Limited, Mapletree Investments Pte Ltd. and CLA Real Estate Holdings Pte Ltd. As at 31 December 2023, PARAGON REIT’s portfolio comprises four quality and well-located commercial properties in Singapore and Australia.

PARAGON REIT’s portfolio of properties is valued at S$4.1 billion as at 30 June 2024. The two properties in Singapore have a total value of S$3.4 billion with a total Net Lettable Area (“NLA”) of 913,912 sq ft, while the two properties in Australia have an aggregated value of S$687 million with a total Gross Lettable Area (“GLA”) of 1,721,385 sq ft. Overall, the portfolio has a total NLA/GLA of 2,635,297 sq ft

Singapore

• Paragon, a premier upscale retail mall and medical suite/office property, is located in the heart of Orchard Road, Singapore’s most famous shopping and tourist precinct. Paragon consists of a 6-storey retail podium and one basement level with 495,156 sq ft of retail NLA (“Paragon Retail”), with a 14-storey tower and another 3-storey tower sitting on top of the retail podium with a total of 223,098 sq ft of medical suites/offices NLA (“Paragon Medical”). 
  
  It is a 99-year leasehold interest that commenced on 24 July 2013.
• The Clementi Mall, a mid-market suburban mall, is located in the centre of Clementi town, an established residential estate in the west of Singapore. The retail mall, which also houses a public library, is part of an integrated mixed-use development that includes Housing Development Board (“HDB”) residential blocks and a bus interchange. The property is also directly connected to the Clementi Mass Rapid Transit (“MRT”) station. The Clementi Mall consists of a 5-storey retail podium and one basement level with approximately 195,772 sq ft of retail NLA.
  
  It is a 99-year leasehold interest that commenced on 31 August 2010.

Australia

• Westfield Marion, the largest and only super regional shopping centre in South Australia, is strategically located in Adelaide, approximately 10 km south-west from Adelaide’s Central Business District (“CBD”). It is in a highly accessible location bound by three major thoroughfares and arterial roads in Diagonal Road, Sturt Road, and Morphett Road, extending its access to shoppers beyond its usual catchment. Westfield Marion is also located next to the Oaklands Train Station, connecting it with Adelaide’s CBD and the southern coastline via multiple train lines. Westfield Marion has 1,484,562 sq ft of Gross Lettable Area (“GLA”).
  
  The property sits on a freehold land area of approximately 2.5 million sq ft. PARAGON REIT has a 50.0% stake in ownership.
• Figtree Grove, an established sub-regional shopping centre in New South Wales, is located approximately 3 km south-west of Wollongong and approximately 85 km south-west of Sydney CBD. The property is situated at the north-eastern corner of the Princes Highway and The Avenue - major thoroughfares which carry traffic between Wollongong CBD and the wider Wollongong area. Figtree Grove has 236,823 sq ft of GLA and 940 carpark lots. 
  
  The property sits on a freehold land area of approximately 547,883 sq ft. PARAGON REIT has an 85.0% stake in ownership.