Cambridge Industrial Trust targets acquiring 15 Jurong Port Road

Purchase is estimated to be $43m.

According to a release, Cambridge Industrial Trust announced the proposed acquisition of 15 Jurong Port Road for a purchase consideration of S$43 million. The vendor, HG Metal Manufacturing Limited, will lease back the property from CIT for a seven year lease term following the completion of the acquisition.

The property comprises a 2-storey ancillary office building, four blocks of single-storey workshops, a 2-storey ancillary office building and a newly completed 4-storey workshop and office block, with a gross floor area of approximately 245,172 square feet.

This property, together with the previously announced acquisition of 30 Marsiling Industrial Estate Road 8 and 11 Woodlands Walk, will complete the acquisition of replacement properties for the two properties being compulsorily acquired by the Singapore Land Authority.