Monday, August 13, 2012

SINGAPORE - FINANCE - Sabana Reit to buy Serangoon North property for $61m

www.businesstimes.com.sg  -Sabana Shari'ah Compliant Industrial Real Estate Investment Trust plans to acquire a Serangoon North Ave 5 property for $61 million.
Its manager, Sabana Real Estate Investment Management Pte Ltd, said on Wednesday that its trustee, HSBC Institutional Trust Services (Singapore) Limited, has entered into a sale and purchase agreement with Ban Teck Han Enterprise Co Pte Ltd for the purpose-built five storey light industrial building with a mezzanine level.  (source)


It is located on the northern side of Serangoon North Avenue 5, within Serangoon North Industrial Estate, and approximately 12.0 kilometres from the city centre, which according to the manager, is an "attractive strategic location".
Completed in 2008 with a gross floor area of approximately 159,384 square feet, the property is a JTC leasehold estate of 30 + 20 years 15 days tenure commencing from September 16, 2006.

Source:  http://www.businesstimes.com.sg/breaking-news/singapore/sabana-reit-buy-serangoon-north-property-61m - Aug 8, 2012

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