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.
source: The Business Times