Unit 01-07 of 750 Chai Chee Road, previously occupied by Global Halal Hub. (Photo: REITsWeek)

The loss of a notable tenant at ESR-REIT’s Viva Business Park has put a spotlight on the “live, work, and play” concept, and its ability to attract enduring footfall into the industrial property’s retail components.

Viva Business Park, which occupies 750-750E on Chai Chee Road, underwent a SGD20 million (USD14.6 million) asset enhancement initiative (AEI) in 2015 to transform the industrial property into a lifestyle destination incorporating retailers, restaurants, and service providers.

The property’s AEI was initiated by Viva Industrial Trust, which merged with ESR-REIT in October 2018.

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By Ridzwan Rahmat

Ridzwan has been analysing REITs and business trusts since 2008, and personally manages a portfolio comprising mainly of SGX-listed REITs. He founded REITsWeek in 2013.