Page 44 - ar2012

Operational & fnancial review
Average portfolio occupancy (excluding new
buildings) remained stable at 97%. Including
the new buildings, average portfolio occupancy
increased signifcantly from 86% to 95% over
the one year. Across the portfolio, all of the
properties’ occupancy (except The V) surpassed
that of the relevant micro-market. While physical
occupancy of The V stood at 94% as at 31 March
2012, committed occupancy at the property was
higher at 98%.
Leasing remained healthy in FY2011/12. Over 1.8
million square feet of foor space was leased or
renewed during FY2011/12, exceeding the foor
space freed up by expired or pre-terminated
leases. In addition, 0.7 million square feet of
space was leased in the new buildings during
the year.
Leasing data
1 April 2011 – 31 March 2012
Occupancy
31 March 2012
ITPB (excluding Voyager &
Park Square)
Zenith
Park Square
ITPC (excluding Zenith)
Voyager
Portfolio average
CyberPearl
aVance
The V
Portfolio average
(excluding new buildings)
Mar-12
Park occ
(%)
Mar-11
Park occ
(%)
Mar-12
Market occ 37
(%)
97
82
80
98
98
94
100
100
95
97
99
NA
61
97
33
93
100
NA
86
97
79%
79%
79%
75%
75%
97%
97%
97%
NA
NA
Area
(Sq ft)
37Source: Jones Lang LaSalle.
Expired/terminated leases
Renewed leases
New leases
Forward leasing
Committed leases for new buildings
Total leased area
1,573,050
1,224,350
537,560
65,780
696,570
2,524,260
42 POSITIONED FOR GROWTH