SINGAPORE (May 16): The manager of Frasers Logistics & Industrial Trust (FLT) says it is divesting the warehouse and hardstand components of 610 Heatherton Road in Victoria, Australia, to Mack Bros Enterprises for A$15 million ($14.2 million).
The deal represents a 11.1% premium to the property as at 15 April this year, and is subject to FLT’s successful registration of its subdivision plans for the property with the relevant authorities.
610 Heatherton Road sits on an irregular 3.7 ha site and comprises an office component, a deck car park, a warehouse, and an extensive hardstand area.
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