The property is a 36-year old industrial building, which comprises a seven-storey warehouse with an office and showroom. The property has a net lettable area of approximately 6,050 sqm on a land site of around 3,372 sqm.
The manager of Mapletree Logistics Trust (SGX:M44U
) (MLT) Management announced today that the trust has completed the divestment of its 1 Genting Lane property.
The divestment of the property was first announced last December, for a sale consideration of $12.3 million, 35.2% above its valuation of $9.1 million as at Oct 1.
