A S$300 million warehouse store will be open in Jurong East in the last quarter of 2009. The company behind the Big Box project, TT International, said the Jurong warehouse will be its flagship store. Sitting on a 5.6-hectare site near the Jurong East MRT station, the outlet will be as big as 27 football fields put together with a total gross floor area of 120,000 square metres. About 30 per cent of the...
Industrial
Mapletree Industrial Fund has bought an industrial property from First Engineering Plastics for nearly S$22 million. The property comprises three buildings with a gross floor area of 14,387 square metres. The land, which spans more than 10,000 square metres, is located in the established Woodlands East Industrial Estate. First Engineering Plastics will lease back the premises following the sale. The...
Ascendas Real Estate Investment Trust (A-REIT) on Monday bought a light industrial property at Loyang Way for S$25 million. It signed a put and call option agreement with Seow Khim Polythelene, a manufacturer of consumer plastic products. Seow Khim will lease back the property for 12 years with stepped increases in rentals. It also has an option to renew the lease for another three years. A-REIT said the...
Mainboard-listed logistics company, CWT, has opened two new logistics hubs in Singapore, expanding its warehouse space by one million sq ft. The new facilities cost CWT more than S$80 million, but they are expected to help drive revenue up by some 10 percent. Most of the new space will be used to store chemicals, which will help boost CWT's position in the sector. Loi Pok Yen, Group CEO of CWT, said: "We...
The tender for an industrial site at Playfair Road has attracted strong bids. There were 12 bids for the 8,600 square metre site. The highest bid of S$33 million was submitted by Trio Link Development. It works out to about S$142 per square foot per plot ratio. According to property consultants CB Richard Ellis, this was the highest bid ever for a 60-year leasehold industrial site. The Playfair Road...
Demand for JTC's industrial space jumped to a record 880,000 square metres in 2007, thanks to a strong economy. Singapore's largest industrial landlord said take-up for its ready-built facilities reached nearly 215,000 square metres. This was about 20 per cent higher than the record set in 2005. A new high was also set for prepared industrial land with take-up at over 340 hectares. Occupancy for...
Real estate services firm C B Richard Ellis has announced the public tender sale of Pasir Panjang Village. Located at the junction of South Buona Vista Road and Pasir Panjang Road, the freehold Pasir Panjang Village consists of a row of 14 conserved two-and-a-half-storey shophouses that are adjacent to the Village Centre. The 22,000-sq-ft site is zoned for both commercial and residential use. With a gross...
Investment sales of industrial properties could set a new record of S$3 billion this year, said property consultants, easily outstripping last year's record high of S$1.9 billion. Analysts attribute the increase to more acquisitions by real estate investment trusts and an impending divestment by JTC. JTC, Singapore's largest industrial landlord, is expected to divest properties totalling some 1.7...
Rents and capital values of all industrial space in Singapore rose about five per cent in the first quarter from the previous three months.CB Richard Ellis says further increases are expected later in the year. The average monthly rents for warehouses improved by between 4 and 4.8 per cent during the three months to March. Rents were $1.30 per square foot for ground floor units and $1.10 per square foot...
The Ministry of Trade and Industry on Tuesday released six sites under the Government Industrial Land Sales Programme to meet continued demand for industrial land for the first half of this year. Of the six, two sites zoned for business use totalling 3.3 hectares are on the Confirmed List. They are at Tampines Street 92 and Kaki Bukit Road 3. Details for the Tampines site are expected to be released...