ESR-LOGOS REIT completes enhancement works for Queensland property

53 Peregrine Drive underwent enhancement to increase its gross floor area by 26,335 square meters.

ESR-LOGOS REIT’s logistics property in Queensland, Australia – 53 Peregrine Drive – has obtained its Practical Completion after enhancement works for the asset finished on 24 October.

The property underwent an assent enhancement initiative (AEI) to increase its gross floor area by 26,335 sqm with an additional warehouse of 10,115 sqm and hardstand of 16,220 sqm.

Since 25 October, the property, which is 100% leased to ACFS Port Logistics Pty Ltd, has been contributing income to the REIT.

Apart from 53 Peregrine Drive, the REIT’s high-spec property in Singapore, 19 Tai Seng Avenue, also achieved 100% committed occupancy

The REIT converted 19 Tai Seng Avenue into a modern high-specs building from a general industrial building, suitable for high value-add tenants in the advanced manufacturing sectors.