AIMS AMP REIT secures ten-year lease for Tuas Avenue 20 property

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AIMS AMP Capital Industrial REIT has secured the first tenant for its newly completed redevelopment at 8 Tuas Avenue 20, the REIT announced on 4 September.

The tenant, whose business is in the aerospace industry, will occupy the ground floor of the property, said the REIT.

The tenant is said to have committed to a ten-year lease with rent escalation during the term, although no further details on escalation details, nor gross floor area lease were given.

“We are pleased to announce that we have secured our first tenant for 8 Tuas Avenue 20, which recently achieved temporary occupation permit on 29 August 2017”, said Koh Wee Lih, CEO of the REIT’s manager.

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Ridzwan Rahmat has been analysing Singapore-listed REITs and business trusts, since 2008. For disclosure purposes, Ridzwan is currently vested in Mapletree Greater China Commercial Trust, Mapletree Industrial REIT and Mapletree Logistics Trust.

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