AIMS APAC REIT sells 3 Toh Tuck Link for $24.38m

The property has a valuation of $18.4m as of 31 March 2024.

Industrial real estate trust AIMS APAC REIT is selling 3 Toh Tuck Link to Crown Worldwide Pte Ltd for $24.38m.

According to its media release, AIMS APAC REIT’s manager said that HSBC Institutional Trust Services (Singapore) Limited, as trustee of the company, has entered into a sales and purchase agreement with Crown Worldwide for the property.

The property is a part three-storey factory part five-storey ancillary office building with a total gross floor area of 12,492.4 square metres.

The sale price of $24.38m represents a 32.5% premium to the property’s valuation of $18.4m as of 31 March 2024.

Subject to JTC Corporation’s approval, the divestment is targeted to be completed by the first half of 2025. Following the divestment, AIMS APAC REIT’s portfolio will comprise 27 properties across Singapore and Australia.

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