The property is a three-storey warehouse with a building age of around 35 years, and a part
5-/part 10-storey warehouse and ancillary office which is about 28 years old. It has a remaining land lease of about seven years.
The manager of Mapletree Logistics Trust (SGX:M44U
) (MLT) seeks to divest its property at 31 Penjuru Lane for $7.8 million by 2QFY2025/2026, to provide the trust with greater financial flexibility.
The proposed divestment is in line with MLT’s managers’ efforts to rejuvenate its portfolio through selective divestment of assets that are no longer aligned with its strategy, the release reads.
