StorHub, a joint venture between CapitaLand (62% stake) and Hersing Corporation (38% stake), has agreed to acquire an industrial property at 31 Admiralty Road for $16.5 million from AIMS AMP Capital Industrial REIT.

When operational in April 2012, this property will be StorHub’s seventh self-storage facility in Singapore.

This latest self-storage facility has a gross floor area of 137,187 square feet and is located in the vicinity of residential and light industrial estates of Marsiling and Woodlands, with a combined population of 245,100.