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Logistics firm Logos purchased an industrial property in Tuas, its fourth asset in Singapore, reported Business Times.
Located at 21 Tuas West Drive, the property is near Tuas West MRT station, Tuas second Link Checkpoint and the future Tuas Mega Port.
Logos plans to redevelop it into a modern food processing and logistics facility at an estimated development cost of S$79 million.
With a total net lettable area of around 27,000 sq m, the five-storey food processing and logistics facility will come with an ancillary office space.
Set for completion by early 2019, construction works will begin immediately after the acquisition, subject to the approval of relevant authorities.
Notably, this is Logos’ first food sector development within Southeast Asia.
“Logos has a solid track record in investing in and developing F&B (food and beverage) logistic facilities across Asia, with the F&B sector representing over 30 per cent of our Pan-Asian business,” said Trent Iliffe, joint managing director at Logos.
Meanwhile, the firm’s other assets in Singapore consist of one development site and two multi-storey logistics warehouse facilities, all of which are fully leased.
An artist’s impression of the Tuas mega-port. (Photo: MP)
This article was edited by Keshia Faculin.
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