Warehouse

The e-commerce and logistics sector accounted for 44 per cent - the biggest chunk - of occupied warehouse space in Singapore, according to a Colliers International report on Thursday. The third-party logistics (3PL) and logistics sector comprise e-commerce firms, freight forwarders, transport agents, supply chain and logistics support companies, delivery services and storage services. Other warehouse...

Two large interlinked warehouse buildings in Gul Industrial Estate are up for sale by expression of interest, said its sole marketing agent JLL. The sellers, an import and distribution business servicing the print industry, are relocating in order to optimise their operations, and are seeking offers in excess of S$13 million, said JLL. The property at 3 Gul Crescent near the Gul Circle MRT station has...

THE vacancy rate of warehouses in Singapore could hit close to 12 per cent in the coming quarters - around global financial crisis levels and up from the current 9.6 per cent in Q1 2016. It is no secret that the industrial property market is now soft, but global property investment management firm TH Real Estate believes that a severe supply overhang will cause the vacancy rates to spike. That said,...

Amid restructuring trends in the economy, Pan Asia Logistics has officially opened its new warehouse at Tuas, with an automated storage and retrieval system. The new system is expected to boost productivity by some 70 per cent. It can store up to 700,000 different spare part types and will result in space savings of about 30 per cent. Pan Asia Logistics said the new facility - its second facility in...

Rents for prime warehouse space in Singapore weakened for the third straight quarter in the April-June period, according to the latest report by property services firm Colliers International on Friday (July 11). It estimates that the average monthly gross rents of ground-floor warehouse space fell 1.6 per cent quarter-on-quarter to S$2.54 per square foot per month. The average rent for upper-floor...

A new warehouse retail store, Big Box, is set to open soon in Jurong East. Warehouse retailing in Singapore was initiated by the Economic Development Board in 2004, through the 'Warehouse Retail Scheme'. The pilot programme was discontinued after three years, as new government schemes to support productivity improvements were introduced soon after, but it has allowed the likes of Ikea and Courts to...

Logistics service provider CWT on Tuesday said it has sold one of its warehousing hubs in the Jurong area for S$115.2 million. No names were given, but CWT said the buyer is a property fund focused on the Asia-Pacific region. Under the agreement, CWT will lease the premises back for five years initially, with an option to renew for another three years. The company will realise a total gain of some...

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...