Aug 31, 2017
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Featuring 12 unloading and loading bays with dock-levellers, the property also has direct vehicular access to the second level through a ramp as well as a cargo lift access to the third level. (Image: AIMS AMP Capital Industrial REIT)

AIMS AMP Capital Industrial REIT (AA REIT) has obtained the Temporary Occupation Permit (TOP) for its redevelopment at 8 & 10 Tuas Avenue 20.

“With the redevelopment, the land parcels at 8 & 10 Tuas Avenue 20 are amalgamated and will now be known as 8 Tuas Avenue 20,” revealed the Reit’s manager in a release.

It noted that the move increased the property’s gross floor area by 35.2 percent to 158,853 sq ft from 117,521 sq ft previously.

This comes as the redevelopment transformed “two adjoining two-storey detached industrial spaces into a three-storey contemporary industrial facility suitable for production and warehouse usage”.

Featuring 12 unloading and loading bays with dock-levellers, the property also has direct vehicular access to the second level through a ramp as well as a cargo lift access to the third level.

Situated near the junction of Pioneer Road, the property is within walking distance to the new Tuas West Road MRT station and a short drive to Tuas Checkpoint.

Koh Wee Lih, chief executive officer of the Reit’s manager, noted that the achievement of TOP was on time and within the budget for the redevelopment.

He added that the redevelopment is in line with the manager’s strategy of unlocking further value in AA Reit’s existing portfolio.

“Through such asset enhancement initiatives, we aim to constantly rejuvenate and improve the specifications of our assets to build a higher quality portfolio and deliver value for our unitholders,” he said.

“This property was identified as part of that strategy and the redevelopment plan was accelerated due to a fire incident, which partially damaged the old property. This is our first speculative development and we will make the appropriate announcement once we have secured a tenant.”

 

This article was edited by Denise Djong.

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