$38.5m allocated for build-to-suit facility redevelopment: ESR-REIT

The redevelopment is expected to be finished in two years.

Singapore-based real estate investment trust, ESR-REIT, allocated about $38.5m to redevelop a build-to-suit facility at 21B Senoko for construction firm, NTS Components Singapore Pte Ltd (NTS).

In its company announcement, ESR-REIT said the redevelopment will be conducted in two phases to turn the property into a high-specification structure.

The first phase is projected to be completed in the first half of 2023 whilst phase two will be finished in the first quarter of 2024.

Under the terms of the redevelopment, ESR-REIT said the property will be leased to NTS on a triple net basis for 15 years with annual rental escalations. NTS will also shoulder payment of utilities, maintenance expenses, property tax, and land rent.

ESR-REIT CEO Adrian Chui said the redevelopment will not only boost their relationship with NTS but also help expand the firm’s footprint.

“It also demonstrates our dedication in achieving organic growth by converting old and dated general industrial properties into high-specifications assets that are relevant to today’s industrialists,” he added.

Follow the link for more news on

ESR-REIT

ESR-REIT redevelopment

If you've been wondering whether SBR could work for your company — yes, probably.

A lot of the companies we partner with started as readers. They'd been following our coverage for a while, saw their own customers and competitors in it, and eventually asked the obvious question: could we do something with you? The answer is usually yes. The shape of it depends on what you're trying to do.

The options are broader than most people assume — thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. Some partners use one channel; most use a mix. We figure out the right combination by starting with your brief, not with our rate card.

So if the question has been on your mind, here's the easy way to ask it.

We'll tell you honestly whether we can help, and how. It's a better use of everyone's time.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia