ESR-Logos Reit’s Senoko Loop redevelopment project attains TOP status

ESR-LOGOS Real Estate Investment Trust’s ( Reit) built-to-suit redevelopment project at 21B Senoko Loop has obtained temporary occupation permit (TOP) status, the manager said on Monday (Jan 22).

The property will be leased to NTS Singapore on a triple net basis for 15 years with built-in rental escalations. It will be responsible for utilities, maintenance expenses, property tax and land rent.

NTS Singapore supplies complex and qualified mechanics, as well as mechatronic assemblies to high-tech original equipment manufacturers in the analytical and semiconductor sectors.

Post-redevelopment, 21B Senoko Loop comprises two interconnected high-specification manufacturing blocks with high ceiling clearance and ancillary offices, four and five storeys high, respectively. It has also achieved a Green Mark Gold certification.

It has a combined gross floor area of 18,623 square metres (sq m) and sits on a land plot spanning 7,455 sq m with a remaining land tenure of 29.1 years as at Dec 31, 2023. The Reit previously announced that it spent S$38.5 million to redevelop the property.

Units of ESR-Logos Reit closed flat at S$0.32 on Friday.