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Viva Industrial Trust secures anchor tenant for business park's 'white' space

Tuesday, August 30, 2016 - 12:33

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Property trust Viva Industrial Trust said on Monday that it has secured an anchor tenant for an area at Viva Business Park that was converted from industrial usage.

PROPERTY trust Viva Industrial Trust said on Monday that it has secured an anchor tenant for an area at Viva Business Park that was converted from industrial usage.

It said the tenant, which will take up 38,000 sq ft of space, is a leading household name with a showroom and retail chain in Singapore.

Renovations at the business park to convert up to 15 per cent of space to "white" space for a variety of uses are due to be completed in the fourth quarter of the year.

With the anchor tenant, the proportion of committed leases for the park's "white" space of 214,951 sq ft will rise to above 90 per cent.

The renovated section of the park will offer sports and fitness, food and beverage and family-oriented amenities, with most operating by the first quarter of 2017.

Viva Business Park can then "cater to the wider Bedok region", said Wilson Ang, CEO of the Reit (real estate investment trust) manager.

Meanwhile, as at the second quarter of the year, total occupancy for the 1.5 million sq ft park was 70.2 per cent.

At 12.15pm, Viva Industrial Trust traded unchanged at S$0.745.

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