Natural Cool Holdings, one of the leading providers of integrated climate management and switchgear solutions, says wholly-owned subsidiary, Natural Cool Investments (NCI) has completed the sale and leaseback of the group’s land and building at 29 Tai Seng Avenue.

This follows the related resolution passed at the Extraordinary General Meeting of the company held on July 30.

Under the terms of the sale and leaseback agreement, the property has been sold to Mapletree Logistics Trust for $53 million. NCI will leaseback the property for 10 years and will continue to house its business operations at the Tai Seng premises.