AIMS AMP Capital Industrial REIT (AA REIT) plans to redevelop 8 & 10 Tuas Avenue 20 (Property) under its ongoing asset enhancement strategy.
“The redevelopment will transform two adjoining two-storey detached industrial spaces into a versatile industrial facility with ramp and cargo lift access, making it suitable for production and warehouse usage,” says AA REIT’s manager of in a filing.
SGX-listed Boustead Porjects has been awarded the contract.
The redevelopment will cost $27 million inclusive of land cost. This will be funded by AA REIT entirely.
Due for completion in 2H of 2017, the property’s value upon completion is estimated at $32 million.
Gross floor area will increase by around 41,614 square feet or 35%, improving the plot ratio from 1.03 to the maximum of 1.4.
The property contributed around 1% to AA REIT’s net rental revenue in FY2015.
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“The redevelopment will transform two adjoining two-storey detached industrial spaces into a versatile industrial facility with ramp and cargo lift access, making it suitable for production and warehouse usage,” says AA REIT’s manager of in a filing.
SGX-listed Boustead Porjects has been awarded the contract.
The redevelopment will cost $27 million inclusive of land cost. This will be funded by AA REIT entirely.
Due for completion in 2H of 2017, the property’s value upon completion is estimated at $32 million.
Gross floor area will increase by around 41,614 square feet or 35%, improving the plot ratio from 1.03 to the maximum of 1.4.
The property contributed around 1% to AA REIT’s net rental revenue in FY2015.
Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg
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