ESR-REIT Secures New Lease For 8 Tuas South Lane Property
14 February 2020 — ESR-REIT reported that it has secured a new lease for approximately 48,000 square feet of space at 8 Tuas South Lane. The new lease is entered into with a tenant who is a manufacturer of copper wire.
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.
The Property is located in the heart of Singapore’s largest manufacturing hub. The new tenant is expected to further strengthen the Property’s tenant mix as part of the Manager’s repositioning exercise to extract synergies upon the scheduled completion of the first phase of the Megaport in 2021.
With the new lease, the Property now has four tenants including Hyflux Membrane Manufacturing (S) Pte. Ltd. which will now account for 2.7% of ESR-REIT’s monthly rental income1, down from 3.0% as at 31 December 2019.
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