ESR-LOGOS REIT ESR-LOGOS Funds Management (S) Limited, the manager of ESR- LOGOS REIT announced the attainment of Temporary Occupation Permit (TOP) status for the Built-to-Suit redevelopment project at 21B Senoko Loop for NTS Singapore Pte Ltd. Under the terms of the Redevelopment agreement, the Property will be leased to NTS on a triple net basis for 15 years and will have built-in annual rental escalations. NTS will take full responsibility for the payment of utilities, maintenance expenses, property tax and land rent. 21B Senoko Loop is a high-specifications property located in the northern region of Singapore within the Woodlands Industrial Estate, an area with limited supply of high-specifications properties.
It is easily accessible via the Seletar Expressway and Bukit Timah Expressway. Post-redevelopment, the Property now comprises two interconnected high-specifications manufacturing blocks with high ceiling clearance and ancillary offices, of four and five storeys respectively, and partially equipped with air-conditioning with a combined gross floor area of 18,623 square metres ("sqm"). The Property sits on a land area of 7,455 sqm and has a remaining land tenure of 29.1 years.
