- SingPost will invest S$30m to boost capacity at its Tampines logistics hub and plans to move all operations there from SingPost Centre (SPC) which is also up for sale or lease.
- We believe asset monetisation and repaying shareholders remains the way forward.
Moving out of SingPost Centre creates significant potential
- - Read this at SGinvestors.io -
- If all operations are shifted there, about 376,000+ sqft of industrial space could be freed up which represents an estimated S$ 9m leasing opportunity annually based on S$2/psf.
- It could also potentially apply for a conversion of land use from industrial to office/retail which would lift SingPost Centre’s valuation significantly but this would be subject to regulatory approvals. Currently, out of SingPost Centre’s 1.47m sqft of GFA, 37% is classified industrial, 45% office and the rest retail.
New business model needs to be forged
- - Read this at SGinvestors.io -
Value lies in asset monetisation
- Read more at SGinvestors.io.
