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
Buyer for England striker Harry Kane’s former mansion must pay £3.4 million after abandoning deal
Malaysian tycoon Vincent Tan’s sell-downs point to pruning rather than an exit plan
Asean must retain more value as its digital economy races towards US$2 trillion: Indonesian minister
EU and Asean at 50: time for bold action
