The manager of ESR-LOGOS REIT (E-LOG) REIT has announced that 53 Peregrine Drive, Port of Brisbane, a logistics property located in Queensland, Australia, has received its practical completion following the completion of its asset enhancement initiative (AEI) on Oct 24.
53 Peregrine Drive had gone through an AEI to increase its gross floor area (GFA) by 26,335 sqm with an additional warehouse space of 10,115 sqm and hardstand of 16,220 sqm. The property is fully leased to ACFS Port Logistics Pty Ltd and has started contributing income since Oct 25.
In Singapore, the REIT’s property at 19 Tai Seng Avenue has achieved 100% committed occupancy after the completion of its AEI.
The building was converted into a high-specs building from a general industrial building on Oct 27. According to the REIT manager, the revamped building is suitable for high-value-add tenants in the advanced manufacturing sectors. Following its AEI, a New Economy tenant from the information and communications technology (ICT) sector was secured, bringing the property to full occupancy.
Units in E-LOG closed 0.5 cent higher or 1.52% up at 33.5 cents on Oct 28.
