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ESR-REIT Secures 2 New Tenants at 8 Tuas South Lane, Further Reducing Exposure to Hyflux Membrane

ESR-REIT Secures 2 New Tenants at 8 Tuas South Lane, Further Reducing Exposure to Hyflux Membrane

July 1, 2020 — ESR Funds Management (S) Limited, as manager of ESR-REIT, announced that Pacific Integrated Logistics Pte Ltd and Royal’s Engineering & Trading (S) Pte. Ltd. have collectively leased an aggregate of 284,700 square feet of space at 8 Tuas South Lane.

Pacific Integrated Logistics is a global logistics provider operating in 16 locations across 11 countries. One of the pioneers to establish a joint venture with the China Rail Operator, the company taps on the fast-expanding Euro-Asia rail freight network to provide customised logistics solutions. Pacific Integrated Logistics has leased approximately 206,000 square feet of space which equates to an estimated 26.9% of the total net leasable area (NLA) of the Property.

Royal’s Engineering & Trading (S) Pte. Ltd. is a local company in the construction industry specializing in plumbing and electrical works. Occupying approximately 78,700 square feet, the company has leased an estimated 10.3% of the total NLA of the Property.

8 Tuas South Lane is a multi-tenanted general industrial property located in the west of Singapore. It is strategically positioned at the gateway to Tuas Megaport, the world’s largest container terminal. With the above new tenants, the committed occupancy for the Property is now approximately 90.3% of which 58.3% is currently leased to sub-tenants. Correspondingly, the rental income exposure to Hyflux Membrane Manufacturing (S) Pte. Ltd., will be reduced from 2.8%1 to 1.6% on a portfolio basis.

Pacific Integrated Logistics is a global logistics provider operating in 16 locations across 11 countries. One of the pioneers to establish a joint venture with the China Rail Operator, the company taps on the fast-expanding Euro-Asia rail freight network to provide customised logistics solutions. Pacific Integrated Logistics has leased approximately 206,000 square feet of space which equates to an estimated 26.9% of the total net leasable area (NLA) of the Property.

Royal’s Engineering & Trading (S) Pte. Ltd. is a local company in the construction industry specializing in plumbing and electrical works. Occupying approximately 78,700 square feet, the company has leased an estimated 10.3% of the total NLA of the Property.

8 Tuas South Lane is a multi-tenanted general industrial property located in the west of Singapore. It is strategically positioned at the gateway to Tuas Megaport, the world’s largest container terminal. With the above new tenants, the committed occupancy for the Property is now approximately 90.3% of which 58.3% is currently leased to sub-tenants. Correspondingly, the rental income exposure to Hyflux Membrane Manufacturing (S) Pte. Ltd., will be reduced from 2.8%1 to 1.6% on a portfolio basis.

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