Staff Reporter
,
Singapore
Technics has defaulted on their lease agreement.
Soilbuild Business Space REIT is searching for a new tenant at its 72 Loyang Way property, after the decision of its current tenant Technics Offshore Engineering to file for judicial management.
The landlord also said that despite Technics’ current troubles, the near-term impact is mitigated as Soilbuild REIT has received $11.8m in cash in relation to its claim from a security deposit obtained when it entered into the lease with TOE in May 2015. This is equivalent to roughly 18 months of rent.
Join Singapore Business Review community
Since you're here...
...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.
We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.
Let us help you drive your business forward with a good partnership!