Hewlett-Packard Enterprise (HPE) is set to vacate the majority of its occupied space at Alexandra Technopark (ATP), following the expiration of relevant leases, reported the Straits Times.
The move follows HPE’s reported plan to cut about 10% of its workforce, or approximately 5,000 of its employees, as part of its cost-cutting efforts.
The enterprise that currently occupies 191,846 square feet at ATP, is planning to vacate 178,843 square feet – 17.1 per cent of the total net lettable area at ATP – between Sept 30 and Nov 30 this year.
The leasor Frasers Commercial Trust (FCOT) says a tenant for 24,000 square feet of the space has already been secured.
Hewlett-Packard Singapore occupies approximately 304,920 square feet of space at ATP, with leases expiring on Nov 30, 2017.
It also constitutes approximately 11.1 per cent of FCOT’s total gross rental income for June.