CIT to acquire 160A Gul Circle for S$16.2 million
Cambridge Industrial Trust Management Limited (“CITM”), the Manager of Cambridge Industrial Trust (“CIT” or “the Trust”), announced today that the proposed acquisition of 160A Gul Circle (the “Property”) in Singapore for a
purchase consideration of S$16.2 million. The acquisition will be funded by existing debt facilities and cash is expected to be completed by 2Q2015.
Mr. Philip Levinson, CEO of CITM, said, “We are pleased to have acquired 160A Gul Circle. This is a strong-yielding and quality asset that will provide a steady income stream and enhance our overall portfolio. The acquisition is in line with CIT’s strategy to acquire yield-accretive assets that support オンライン スロット our objective of creating sustainable growth and value.”
About the Property
The Property comprises an existing single-storey factory and a newly completed four-storey factory with a gross floor area (“GFA”) of approximately 86,075 square feet.
Situated within the mature and established Jurong Industrial Estate, the Property has remaining land tenure of approximately 26 years. Upon completion of the acquisition, the Property will be leased to Unicable Pte Ltd (the Vendor) for five years, ensuring stability of income.
The Property is accessible via the Pan Island Expressway, Ayer Rajah Expressway, Joo Koon MRT station, and the upcoming Tuas West Extension MRT line which is scheduled to complete in 2016.
The total GFA – Approximately 86,075 sq ft
Purchase price – S$16.2 million
Remaining Land Tenure – Approximately 26 years
Tenant – Unicable Pte Ltd
Lease Tenure – Five years.