ESR-REIT sells 30 Pioneer Road warehouse for $32m
The 16-year-old property has a floor area of 26,114 square metres.
ESR REIT is divesting a 16-year-old warehouse at 30 Pioneer Road for $32m to an undisclosed buyer, its manager ESR-REIT Management (S) Limited announced.
The 4-storey warehouse has a 7-storey ancillary office within the Jurong Industrial Estate. It has a gross floor area of 26,114 square metres.
It has a remaining land lease of about 10.6 years.
ESR REIT will use the net proceeds from the divestment to repay outstanding borrowings, finance potential acquisitions, asset enhancement initiatives and redevelopments, and fund general working capital requirements.
The divestment is expected to be completed in the fourth quarter of 2026.