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Soilbuild REIT disposes 72 Loyang Way asset for $34.1 mil with remaining lease of 19 years

Michelle Zhu
Michelle Zhu3/21/2019 06:11 PM GMT+08  • 3 min read
Soilbuild REIT disposes 72 Loyang Way asset for $34.1 mil with remaining lease of 19 years
SINGAPORE (Mar 21): Soilbuild Business Space REIT (Soilbuild REIT) has agreed to sell its industrial property at 72 Loyang Way, and all of its mechanical electrical equipment, to Kim Hock Enterprise for a total consideration of $34.08 million.
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SINGAPORE (Mar 21): Soilbuild Business Space REIT (Soilbuild REIT) has agreed to sell its industrial property at 72 Loyang Way, and all of its mechanical electrical equipment, to Kim Hock Enterprise for a total consideration of $34.08 million.

The REIT is expecting net proceeds of about $34.055 million after accounting for divestment-related expenses, resulting in an estimated net gain of $55,000.

With a net lettable area of 171,293 sq ft, 72 Loyang Way comprises two blocks of three- and four-storey ancillary offices; two high ceiling single-storey production facilities; a blasting and spray painting chamber; a worker dormitory; and a jetty with 142 metres of sea frontage.

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