Far East Organization sells Tuas industrial asset to PGIM JV for S$121.1 million
It will be redeveloped into a five-storey, fully ramp-up prime logistics facility with about 1.1 million sq ft of GFA
Add BT as a preferred source
[SINGAPORE] Far East Organization has sold a sizeable industrial property at 51 Tuas View Link for S$121.1 million to a joint venture (JV) between PGIM’s real estate business and Northstar Capital Logiprop.
A caveat was lodged for the transaction earlier this month for the property at 51 Tuas View Link, which has a site area of about 456,810 square feet (sq ft). The site has a 60-year leasehold tenure from July 1996, leaving a balance term of about 30 years.
The S$121.1 million transaction price works out to S$265 per square foot.
TRENDING NOW
On the board but frozen out: The Taib family feud tearing Sarawak construction giant apart
Thai and Vietnamese farmers may stop planting rice because of the Iran war. Here’s why
MAS convenes bank CEOs over AI cyberthreats; boards told to own risks, not leave to IT teams
Is it time to scrap COE categories for cars?
