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.
For more insights on corporate trends...
Sign In or Create an account to access our premium content.
Subscription Entitlements:
Less than $9 per month
Unlimited access to latest and premium articles
3 Simultaneous logins across all devices
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)