The property comprises a six-storey ramp-up logistics facility with a total net lettable area (NLA) of 56,203 sqm. Currently, it has an occupancy rate of 85.8%6 with a weighted average lease expiry (WALE) of approximately 1.8 years, as at Sept 30.
The manager of Frasers Logistics & Commercial Trust (SGX:BUOU
) (FLCT) has announced the REIT’S proposed acquisition of a prime logistics property from an unrelated third party, Diamond Land.
The property, which is situated at 2 Tuas South Link 1, Singapore, has a purchase consideration of approximately $140.3 million. The purchase consideration represents a discount of 2.5% from the appraised value of the property at $143.8 million, according to an independent valuation conducted by Knight Frank as at Sept 30.
