The REIT manager is currently taking legal advice and will take active steps to mitigate any losses arising from this development, it said in a filing. This includes taking steps to re-enter the premises, marketing the premises to prospective replacement tenants as well as offsetting the outstanding rental payments with the tenant’s security deposit at hand.
The manager of Sabana Industrial REIT has announced that GDMC — the tenant of its premises in 30 and 32 Tuas Avenue 8 — has been placed in provisional liquidation.
The premises comprise two original “E8” JTC standard factories with an adjoining four-storey factory equipped with ancillary offices with a gross floor area of 158,846 sq ft.
