This article is from the Australian Property Journal archive
HOT on the heels of its expansion in New Zealand, Logos has beefed up its presence in Singapore by acquiring a three-storey industrial building with plans to redevelop the asset into a S$270 million e-commerce logistics hub.
Located at 4 Pandan Crescent, Logos plans to develop a six-storey ramp-up modern logistics facility with ancillary office space, offering a total net lettable area of approximately 110,000 sqm. Construction will commence in 2019, subject to relevant planning and construction approvals, with the first phase of construction scheduled for completion in late 2020.
Logos southeast Asia managing director Stephen Hawkins said Singapore is a key investment market and it is committed to growing its business in this region.
“The redeveloped 4 Pandan Crescent will be the one of the few e-commerce focused facilities in Singapore and Logos is excited to be involved in the transformation of Singapore’s logistics industry. We are currently in discussions with a number of potential tenants in regards to this development and look forward to sharing more on this in due course,” he added.
This strategic investment is being made by Logos Singapore Logistics Venture. When completed, the acquisition of 4 Pandan Crescent will take the number of assets in this venture to five. The other assets consist of two multi-storey logistics warehouse facilities and two development sites. The total commitments in Singapore provide Logos with over S$800 million in investment capacity.
Australian Property Journal
