Nordic Group buys Tuas property for $6.2 mil
By Angela Teo
/ EdgeProp |
Ask Buddy
Systems integration, precision engineering and scaffolding company Nordic Group announced on Jan 5 that it is acquiring a property in Tuas for $6.2 million, excluding GST.
Located at Tuas Avenue 10, the property comprises all buildings on the land, the plant, and on-site equipment.
The property has a 30+30 years (30 years with the option to renew for another 30 years) tenure from December 1989. JTC has granted the second option term or a 30 year renewal of the lease, which will begin in December 2019.
Nordic says the acquisition is a “strategic move”, as the property is located in proximity to the premises of recently bought subsidiary, Ensure Engineering, which is also located along Tuas Avenue 10.
Ask Buddy
Follow Us
Follow our channels to receive property news updates 24/7 round the clock.
EdgeProp Telegram
EdgeProp FacebookSubscribe to our newsletter
Top Articles
Search Articles