Sabana Industrial REIT files originating claim against Kleio One-Solution

The tenant occupies the properties at 33 & 35 Perjuru Lane.

Sabana Industrial REIT has filed a $2.1m originating claim before the Singapore High Court against its tenant Kleio One-Solutions Pte. Ltd.

In a disclosure, Sabana Industrial said it sought the amount representing the outstanding fixed rent, land rent, property tax and late payment interest as of 15 November or what the court will deem fit.

It is also seeking the possession of the premises occupied by Kleio One-Solution at 33 & 35 Penjuru Lane in Singapore, as well as the fixed rent, land rent, property tax and late payment interest from 16 November until the date of the delivery of the possession.

ALSO READ: Sabana Industrial REIT reports lower portfolio occupancy of 91.8% in 3Q23

Sabana also asks for the costs incurred to enforce its rights under the lease.

Interest will be calculated at 12% annually as stated under the lease and in alternated to be computed according to the rate under the law.

The premises occupied by the tenant are composed of three buildings with a gross floor area of 286,192 square feet, which include a single-storey warehouse, a four-storey warehouse, and a part single-storey/part three-storey warehouse with a basement.

Kleio One-Solution comprises around 2.9% of Sabana Industrial REIT’s monthly average gross rental income.