ESR-LOGOS REIT continues long-term partnership with AMS-OSRAM after lease renewal of 7000 Ang Mo Kio Avenue 5

With that, AMS-OSRAM will remain as one of the top ten tenants by effective gross rent in ELOG’s portfolio.

The manager of ESR-LOGOS REIT (ELOG), announced on Sept 1, that AMS-OSRAM Asia Pacific, one of the REIT’s top ten tenants, has renewed its tenancy at 7000 Ang Mo Kio Avenue 5.

AMS-OSRAM as the largest anchor tenant at the property, occupies about 46,220 sq m or 60.7% of the property by net lettable area (NLA). The property remains the largest site office of AMS-OSRAM in Singapore and is also the headquarters for its manufacturing and business operations.

AMS-OSRAM has renewed its lease for the production area and the office units for a five-year and two-year term, respectively. This renewal achieved a positive rental reversion of 12.9%.

With that, AMS-OSRAM will remain as one of the top ten tenants by effective gross rent in ELOG’s portfolio.

“With the ongoing development of a new modernised building at the property, we envisage 7000 Ang Mo Kio becoming an iconic high-specs property of choice for industrialists in the advanced manufacturing and data centre sectors,” says Adrian Chui, chief executive officer and executive director of ELOG.

Shares in ELOG closed at 0.5 cents down or 1.22% lower at 40 cents on Sep 1.

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