Ascendas REIT divests 30 Old Toh Tuck Road for $24 mil

SINGAPORE (Apr 3): Ascendas REIT (AREIT) is selling its property on 30 Old Toh Tuck Road to Soon Bee Huat Trading for $24 million.

The property is a five-storey ramp-up logistics building with a gross floor area of 16,353 sqm and an occupancy of 86.1%. At about 19 years old, the property has a remaining lease of about 39 years.

This divestment, which is expected to be completed by 2Q18, is in line with the manager’s proactive asset management strategy to improve the quality of the REIT’s portfolio and optimise returns for unitholders.

---

Related Stories

• With no more annual Christmas gift of asset price appreciation, try greenifying real estate
• IHH Healthcare's Fortis announces divestment of Chennai hospital for INR1.28 bil
• Frasers Centrepoint Trust announces proposed divestment of 28.85% of Hektar REIT

---