Cache Logistics Trust to develop warehouse for DHL company
Published on Apr 14, 2014 8:28 AM
SINGAPORE - Cache Logistics Trust has agreed to develop a build-to-suit warehouse for DHL Supply Chain Singapore and lease it to the company, which is part of Deutsche Post DHL, the world's leading logistics solutions provider.
The development cost for the warehouse, located at Greenwich Drive in Tampines LogisPark, is estimated to be $105.1 million, said the trust's manager ARA-CWT Trust Management (Cache).
Other non-development expenses, including finance and transaction costs, are expected to come up to $18.4 million.
Cache will fund the development through internal funds and bank borrowings, with its leverage expected to increase from 29.1 per cent as at Dec 31 last year to 34.8 per cent upon completion of the development.
To continue reading, log in if you are a subscriber
Enjoy 2 weeks of unlimited digital access to The Straits Times. Get your free access now!