Companies & Markets

Logos and CSC to redevelop ramp-up warehouse in Jurong

Published Mon, May 18, 2020 · 03:23 PM

LOGOS, a logistics company backed by ARA Asset Management, on Monday said it is partnering Singapore-listed CSC Holdings to redevelop 2 Tanjong Penjuru Crescent into a modern ramp-up warehouse for an estimated total development cost of S$108 million.

The redevelopment will draw on part of Logos's newest Singapore fund, the Singapore Logistics Venture 2, which recently closed with an investment capacity of S$1.2 billion for the acquisition and development of modern logistics properties in Singapore.

Located within the established Jurong Industrial Estate, the existing four-storey industrial property will be redeveloped into a 46,000 sq m, six-storey ramp-up logistics facility with office space, a cafeteria and roof-top parking. It will also include a built-to-suit high-specification workshop for CSC, which has committed to a long-term pre-lease for the property on completion.

The redevelopment will also maximise land potential and increase the built-up area significantly upon completion, Logos said.

Logos also gave the assurance that it is working within the local government's Covid-19 lockdown regulations. Construction work on the facility will commence after the lockdown, subject to relevant planning and construction approvals.

The completion is expected by end of Q4 2021.