Tag Archives: A-Reit

A-REIT acquires $110m site at Fusionopolis

Posted on 8 Jun 2011 | Comments Off on A-REIT acquires $110m site at Fusionopolis

The manager of Ascendas Real Estate Investment Trust (A-REIT) says it has acquired a 6,253 square metre business park site at Fusionopolis for $110 million through a public tender by JTC Corporation.

Located within walking distance to the one-north Mass Rapid Transit (MRT) station which is expected to be operational in 4Q2011, the site has a land area of 6,253 sqm with a 60-year leasehold interest and an allowable plot ratio of 4.0 times. The site is also easily accessible via the Ayer Rajah Expressway.

The manager believes that the development of the site will provide unitholders of A-REIT with potentially greater returns compared to outright acquisitions of income-producing properties and thus improve the net asset value of A-REIT’s portfolio as A-REIT will receive any benefit of unrealised valuation gain from the development of the site.

As part of listing rules, A-REIT has declared JTC is a controlling unitholder of the REIT manager.

Source : TheEdge – 8 Jun 2011

Comments Off on A-REIT acquires $110m site at Fusionopolis

Posted in Funds

Tagged , ,

A-REIT submits S$110m bid for business park site at Fusionopolis

Posted on 22 May 2011 | Comments Off on A-REIT submits S$110m bid for business park site at Fusionopolis

Mainboard-listed Ascendas REIT (A-REIT) has submitted a S$110 million bid for a business park site at Fusionopolis.

A-REIT said this property, together with its existing properties within the one-north region and the neighbouring Science Park I and II, will enhance its market leadership position in the Business & Science Parks segment.

The trust is planning to develop the business park site into a modern suburban business facility, comprising 60 per cent business park space and 40 per cent office space.

It also hopes to attract tenants in the Infocomm Technology and media industries, as well as R&D activities in Physical Science and Engineering.

A-REIT said the total development cost of the property is not expected to exceed 3.3 per cent of A-REIT’s deposited property as at 31 March 2011.

The 6,253 square metre site, with a 60-year land lease tenure and an allowable plot ratio of 4.0 times, is located in the one-north master plan region.

The tender for the site was launched under the Government Industrial Land Sales Programme by the Jurong Town Corporation.

Source : Channel NewsAsia – 20 May 2011

Comments Off on A-REIT submits S$110m bid for business park site at Fusionopolis

Posted in Funds

Tagged , , , ,