ESR REIT Announces Plan to Acquire New Properties in Singapore and Australia
May 6, 2021 – ESR REIT announced their plans to acquire 46A Tanjong Penjuru in Singapore as well as a stake in 37 Australian assets.
For the Singapore property, ESR REIT said the property has a purchase consideration of S$112 million (US$83.8 million).
The Property is a 5-storey modern ramp-up logistics facility with mezzanine offices on each floor, which is located within a well-established industrial estate of Tanjong Penjuru and is within the Jurong Industrial Estate in the west central area of Singapore.
The Property is easily accessible to the city and is well served by major expressways such as the Ayer Rajah Expressway, the West Coast Highway and the Pan Island Expressway. The location is an established logistics sector and is well sought after due to its close proximity to the Central Business District, Jurong Port, Tuas Megaport and key container yards.
For the stake in Australian assets, meanwhile, ESR REIT said they plan to acquire 10% of the total issued units of ESR Australia Logistics Partnership which indirectly holds 33 income-producing properties, two land parcels for future development and two properties which are currently under development.
Read more on the Singapore acquisition here and the stake in Australian assets acquisition here..