Bookmark & Share
With a gross floor area of 64,584 sq ft, the mall is the retail component of private mixed-residential development Le Quest. Photo: Firmus Capital.
Firmus Capital has acquired Le Quest Mall, a single-storey commercial property located at Bukit Batok Street 41.
This follows the private equity real estate investment manager’s acquisition of a property in Toa Payoh that it subsequently leased to Tesla Singapore.
The latest acquisition brings the total assets under management of its newly launched fund, Firmus Opportunity Fund VCC, to $200 million.
With a gross floor area of 64,584 sq ft, the mall is the retail component of private mixed-residential development Le Quest, with key tenants including KFC, Fairprice Finest, McDonald’s, Koufu, Guardian pharmacy and Pizza Hut.
The second shopping mall in Bukit Batok, Le Quest Mall is well-positioned to serve a catchment of about 10,000 households within a 500-metre radius in the Bukit Batok West area as well as upcoming Tengah estate.
It is a five-minute walk from the future Tengah Plantation MRT Station and Tengah Park MRT Station. The mall also has direct bus connection from the Bukit Gombak and Bukit Batok MRT Stations.
“With COVID-19 giving rise to increased adoption of work-from-home arrangements and re-shaping the preference of consumers for convenience retail centres closer to home over malls in the city, the mall also has the potential to be a last-mile fulfilment hub for retail and F&B companies offering delivery and click-&-collect services,” said Firmus Capital.
Le Quest received its Temporary Occupation Permit (TOP) in March 2020. Its residential component comprises 516 apartment units that are fully sold.
Looking for a property in Singapore? Visit PropertyGuru’s Listings, Project Reviews and Guides.
Victor Kang, Digital Content Specialist at PropertyGuru, edited this story. To contact him about this story, email: victorkang@propertyguru.com.sg