Published:
AA REIT to lease industrial development at 51 Marsiling Road
Net property income from the development is expected to hit $3.5m in the first year.
AIMS AMP Capital Industrial REIT (AA REIT) received a Temporary Occupation Permit (TOP) for its greenfield build-to-suit development at 51 Marsiling Road.
According to a press release, AA REIT will lease the building to manufacturer Beyonics International Pte Ltd (Beyonics) for 10 years with rent escalation. Net property income (NPI) in the first year is expected to hit $3.5m in the first year.
Rental income is expected to flow in during the first quarter of 2019.
The development has a value of $43.0m and a gross floor area (GFA) of around 231,738 sqft.
The facility with a cargo lift access will serve as Beyonics' new headquarters.
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