reporter2
27-08-21, 11:16
Firmus Capital acquires Le Quest Mall in Bukit Batok
Aug 26, 2021
https://i.imgur.com/KECKnIp.jpg
FIRMUS Capital has acquired Le Quest Mall, a single-storey commercial property at Bukit Batok Street 41. The property is the retail component of private mixed-residential development Le Quest.
The move comes just a month after the private equity real estate investment manager leased a building in Toa Payoh Lorong 8 to electric car maker Tesla.
The latest acquisition brings Firmus' newly launched Firmus Opportunity Fund VCC's total assets under management to S$200 million. The fund is Firmus' inaugural Singapore-focused investment vehicle launched under the Monetary Authority of Singapore's (MAS) variable capital companies framework.
Le Quest Mall has a gross floor area of 64,584 square feet. Its key tenants include FairPrice Finest, Koufu, McDonald's, KFC, Pizza Hut and Guardian Pharmacy.
It is the second shopping mall in Bukit Batok other than the 22-year-old West Mall and is positioned to serve a catchment of some 10,000 households within a 500-metre radius in the Bukit Batok West area and upcoming Tengah estate.
The mall is a five-minute walk from the future Tengah Park MRT Station and Tengah Plantation MRT Station. It also has a direct bus connection from the Bukit Batok and Bukit Gombak MRT Stations.
Le Quest received its temporary occupation permit in March 2020. Its residential component comprises 516 units, all of which have been sold.
Firmus said the mall has the potential to be a last-mile fulfilment hub for retail as well as food and beverage companies offering delivery and click-and-collect services. This comes amid the pandemic and the increased adoption of work-from-home arrangements which have reshaped consumer preference for retail centres closer to home versus the city.
Established in 2017, Firmus operates under the capital markets services licence issued by MAS and the financial services licence issued by the Australian Securities & Investments Commission.
In July, it entered into an agreement to lease its entire Toa Payoh Lorong 8 building to Tesla's Singapore subsidiary for the carmaker's showroom, corporate office and service centre for a period of up to 20 years.
Aug 26, 2021
https://i.imgur.com/KECKnIp.jpg
FIRMUS Capital has acquired Le Quest Mall, a single-storey commercial property at Bukit Batok Street 41. The property is the retail component of private mixed-residential development Le Quest.
The move comes just a month after the private equity real estate investment manager leased a building in Toa Payoh Lorong 8 to electric car maker Tesla.
The latest acquisition brings Firmus' newly launched Firmus Opportunity Fund VCC's total assets under management to S$200 million. The fund is Firmus' inaugural Singapore-focused investment vehicle launched under the Monetary Authority of Singapore's (MAS) variable capital companies framework.
Le Quest Mall has a gross floor area of 64,584 square feet. Its key tenants include FairPrice Finest, Koufu, McDonald's, KFC, Pizza Hut and Guardian Pharmacy.
It is the second shopping mall in Bukit Batok other than the 22-year-old West Mall and is positioned to serve a catchment of some 10,000 households within a 500-metre radius in the Bukit Batok West area and upcoming Tengah estate.
The mall is a five-minute walk from the future Tengah Park MRT Station and Tengah Plantation MRT Station. It also has a direct bus connection from the Bukit Batok and Bukit Gombak MRT Stations.
Le Quest received its temporary occupation permit in March 2020. Its residential component comprises 516 units, all of which have been sold.
Firmus said the mall has the potential to be a last-mile fulfilment hub for retail as well as food and beverage companies offering delivery and click-and-collect services. This comes amid the pandemic and the increased adoption of work-from-home arrangements which have reshaped consumer preference for retail centres closer to home versus the city.
Established in 2017, Firmus operates under the capital markets services licence issued by MAS and the financial services licence issued by the Australian Securities & Investments Commission.
In July, it entered into an agreement to lease its entire Toa Payoh Lorong 8 building to Tesla's Singapore subsidiary for the carmaker's showroom, corporate office and service centre for a period of up to 20 years.