ESR-Logos Reit’s Ang Mo Kio asset secures 50% occupancy after revamp 

ESR-Logos Real Estate Investment Trust’s (Reit) high-specifications industrial building at 7002 Ang Mo Kio Avenue 5 has secured an occupancy of about 50 per cent, upon achieving its temporary occupation permit.

This follows the completion of the property’s asset-enhancement initiative, which involved its development into a multi-tenanted high-specifications building with a gross floor area of 25,000 square metres.

The space is suitable for advanced manufacturing, info communications and data centre tenants, said the Reit manager on Thursday (Oct 5).

It said occupants of the building comprise “well-established” companies, including a “technology-driven provider of global multimodal specialised logistics solutions serving the electronics industry”. There is also a listed wellness and healthcare company that carries out research and development activities and manufactures its own range of beauty, health and wellness products.

Commenting on the property’s enhancement, Adrian Chui, chief executive of the manager, said the occupancy level is a “clear testament” to the Reit’s portfolio rejuvenation efforts and strategy.

“As the pace of economic structural trends such as digitalisation, increasing prevalence of automation and technology and supply chain diversification continue to advance, we will proactively evaluate our rejuvenation initiatives on our properties to cater to the evolving needs of modern industrialists.” 

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Units of ESR-Logos Reit ended Thursday 3.8 per cent or S$0.01 higher, at S$0.275.