Proposed acquisition of 4 Pandan Crescent by LOGOS for a $270 million redevelopment

Media
Wednesday 1st August 2018

Following the acquisition, LOGOS will redevelop the existing three storey industrial property into a modern ecommerce logistics hub for an estimated total development cost of S$270 million.

4 Pandan Crescent enjoys convenient proximity and access to Singapore’s Central Business District, Pasir Panjang Port and Jurong Lake District. LOGOS will redevelop the property into a six-storey ramp-up modern logistics facility with ancillary office space, offering a total net lettable area of approximately 110,000sqm. Construction will commence in 2019, subject to relevant planning and construction approvals, with the first phase of construction scheduled for completion in late 2020.

LOGOS Southeast Asia Managing Director, Stephen Hawkins said: “Singapore is a key investment market for LOGOS and we are committed to growing our business in this region.”

“The redeveloped 4 Pandan Crescent will be the one of the few ecommerce focused facilities in Singapore and LOGOS is excited to be involved in the transformation of Singapore’s logistics industry. We are currently in discussions with a number of potential tenants in regards to this development and look forward to sharing more on this in due course,” he added.

This strategic investment is being made by LOGOS Singapore Logistics Venture that focuses on the acquisition and development of high quality, modern logistics properties in Singapore. When completed, the acquisition of 4 Pandan Crescent will take the number of assets in this venture to five. The other assets consist of two multi-storey logistics warehouse facilities and two development sites. The total commitments in Singapore provide LOGOS with over S$800 million in investment capacity.