Straits Trading divests Aussie industrial property for $46.3m

The property has a net lettable area of 37,809 sq m.

SGX-Mainboard listed Straits Trading divests an industrial property at 34 Share Street, Kilkenny in South Australia for $46.3m (AU$52.7m).

The property is a purpose-built modern distribution facility located in Adelaide, South Australia with a net lettable area of 37,809 sq m.

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The proposed sale is in line with the company’s strategy to redeploy capital from its low-profit but high-quality properties to real estate with possibly higher returns through its real estate arm.

The proposed sale will not have any impact on the issued share capital of the Company.

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