A-REIT acquires and leases back Hyflux Innovation Centre for $191.2 mil
WRITTEN BY THE EDGE
THURSDAY, 26 JUNE 2014 09:08
Ascendas Funds Management (S) Limited, the manager of Ascendas Real Estate Investment Trust (A-REIT) is acquiring Hyflux Innovation Centre located at 80 Bendemeer Road for a total purchase consideration of $191.2 million.
Upon completion of the acquisition, Hyflux and Hydrochem will leaseback 50% of Gross Floor Area of 43,434 sqm for 15 years while all existing third party tenants in the property will be assigned to A-REIT. The property will have an occupancy rate of 83.9% and the vendor will provide rental support for the remaining vacant space for three years.
Hyflux Innovation Centre is located within the Kallang Industrial Estate and is within three minutes’ walk to Boon Keng MRT station along the North-East Line. The property is a 10-storey high-specifications building with a basement and surface car park. Current tenants include Hyflux, NEC, Covidien Private Ltd, American Express and Renesas Electronics Singapore Pte Ltd.
Tan Ser Ping, Executive Director and Chief Executive Officer of A-REIT Manager, said, “We are pleased to strengthen our relationship with Hyflux Ltd, with a sale-and-leaseback arrangement at Hyflux Innovation Centre. This property is a prime high-specifications development located at the fringe of the central business district. Hyflux’s commitment to lease 50% of gross floor area for 15 years will extend A-REIT’s weighted lease expiry profile to 3.96 years.”
Following the above acquisition, A-REIT’s weighted average lease term to expiry is expected to increase from 3.85 years to 3.96 years. A-REIT will own a total of 103 properties in Singapore and two business park properties in China.
- wong chee tat :)
Showing posts with label Bendermeer. Show all posts
Showing posts with label Bendermeer. Show all posts
Saturday, June 28, 2014
Tuesday, February 22, 2011
HDB launches sale of Bendemeer and Tampines condo sites
HDB launches sale of Bendemeer and Tampines condo sites
Posted: 22 February 2011 1756 hrs
SINGAPORE: The Housing & Development Board (HDB) will on Wednesday launch two sites at Bendemeer Road/Whampoa East and Tampines Central 7 for sale.
The sites are under the confirmed list of the first half 2011 Government Land Sales (GLS) Programme.
The condominium site at Bendemeer Road/ Whampoa East has a 99-year lease and can accommodate 780 units.
It is within walking distance of the Boon Keng MRT station along the North East Line.
Residents will have various dining, shopping and entertainment options at City Square, Serangoon Plaza and Mustafa Centre, which are near the MRT station.
Schools such as Bendemeer Primary, St Andrew's Junior and Secondary Schools and St Andrew's Junior College are also nearby.
The executive condo (EC) site at Tampines Central 7 is in Tampines Town which contains the Tampines Regional Centre, schools, cinemas, sports facilities and the Tampines MRT station.
The site has a 99-year lease and 660 units can be built there.
Another three new sites at Buangkok Drive/ Sengkang East Drive, Sembawang Road/ Jalan Sendudok and Jalan Loyang Besar/ Pasir Ris Drive 4 will be launched by HDB and the Urban Redevelopment Authority, next month.
-CNA/wk
- wong chee tat :)
Posted: 22 February 2011 1756 hrs
SINGAPORE: The Housing & Development Board (HDB) will on Wednesday launch two sites at Bendemeer Road/Whampoa East and Tampines Central 7 for sale.
The sites are under the confirmed list of the first half 2011 Government Land Sales (GLS) Programme.
The condominium site at Bendemeer Road/ Whampoa East has a 99-year lease and can accommodate 780 units.
It is within walking distance of the Boon Keng MRT station along the North East Line.
Residents will have various dining, shopping and entertainment options at City Square, Serangoon Plaza and Mustafa Centre, which are near the MRT station.
Schools such as Bendemeer Primary, St Andrew's Junior and Secondary Schools and St Andrew's Junior College are also nearby.
The executive condo (EC) site at Tampines Central 7 is in Tampines Town which contains the Tampines Regional Centre, schools, cinemas, sports facilities and the Tampines MRT station.
The site has a 99-year lease and 660 units can be built there.
Another three new sites at Buangkok Drive/ Sengkang East Drive, Sembawang Road/ Jalan Sendudok and Jalan Loyang Besar/ Pasir Ris Drive 4 will be launched by HDB and the Urban Redevelopment Authority, next month.
-CNA/wk
- wong chee tat :)
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