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C A M B R I D G E I N D U S T R I A L T R U S T
A N N U A L R E P O R T 2 0 1 5
Acquisition of value-add properties
On 20 March 2015, CIT completed the Cambridge LLP
Acquisition, which holds the property at 3 Tuas South
Avenue 4, for a purchase consideration of approximately
$11.0 million. The property is a purpose-built, three-
storey warehouse, manufacturing and distribution facility
in a prime industrial location as part of Tuas Biomedical
Park, with an opportunity to add an additional bespoke
building with built-up area of approximately 204,000 sq ft.
The remaining land tenure of the site is about 43 years and
remaining tenure of the tenant’s lease is about 22 years.
On 13 May 2015, CIT completed the acquisition of 160A
Gul Circle for a purchase consideration of approximately
$16.2 million (excluding land premium of $2.9 million).
The property comprises a single-storey factory and a
newly completed four-storey factory with a total GFA of
approximately 86,079 sq ft, with a remaining land tenure
of approximately 24 years. The property is leased to
Unicable Pte Ltd for five years.
Proactive Asset Management
In March 2015, CIT completed Phase II of the AEI at 3
Pioneer Sector 3, which included the extension of the new
ramp (fromPhase I) to a new connecting driveway that leads
to the existing building. This enhancement transformed
the 716,000 sq ft property into a fully integrated “ramp-
up” warehouse with 21 additional loading docks. The
façade of the building was also revamped. For the internal
areas, the passenger lift was replaced and all toilets and
common areas were upgraded including the addition of a
new guardhouse.
Also in March 2015, CIT completed Phase I AEI for
21B Senoko Loop, which included the construction of
additional floors to the existing four-storey workers’
dormitory, and replacement of both the passenger and
cargo lifts with new units. As a result, the head tenant,
Tellus Marine Engineering Pte Ltd extended its lease for a
further 10 years from March 2016.
The AEI for 31 Changi South Avenue 2 was completed on
16 April 2015. The AEI works included the extension of
1 floor of additional production space and installation of
a new cargo lift. The head tenant Presscrete Engineering
Pte Ltd, subsequently extended its lease for a further
five years.
MANAGER’S REPORT
* Note that 513 Yishun will be undergoing AEI works. Excluding
513 Yishun, the portfolio occupancy would be 94.8%.
Diversified Portfolio
Asset Class by Rental Income
Single-Tenanted vs Multi-Tenanted
by Rental Income
Logistics 15.8%
Warehousing 21.1%
General Industrial 30.3%
Car Showroom and Workshop 3.0%
Business Park 1.7%
Light Industrial 28.1%
Multi-Tenanted Properties 51.7%
Single-Tenanted Properties 48.3%
2015 2014
No of Properties
51
50
Property Value ($ billion)
1.42
1.37
Total Portfolio GFA (million sq ft)
8.5
8.4
Total Net Lettable Area (million sq ft)
8.0
7.9
Portfolio Occupancy (%)
94.3*
96.0
Total no. of Tenants
187
168
