Mapletree Logistics Trust divests 119 Neythal Road warehouse for $13.8m

The company will complete the divestment by 2Q FY24/25.

Mapletree Logistics Trust (MLT) divested the 119 Neythal Road warehouse for $13.8m to rejuvenate its portfolio through selective divestments.

The property has a five-storey cargo lift warehouse and a single-storey detached factory building, with a net lettable area of approximately 11,188 sq m and a remaining land lease of 15 years.

The sale price of $13.8m represents a 34.0% increase over the latest valuation of $10.3m as of 31 March.

JTC Corporation has granted in-principle approval for the transaction subject to the parties complying with the stipulated conditions.

MLT will sell the property to an unnamed, unrelated third party. It will use proceeds from the divestment to pursue investment opportunities in high-specification, modern logistics facilities with higher growth potential.

The divestment, set to be completed by 2Q FY24/25, will not have a material impact on MLT’s net asset value and net property income for FY24/25.

Following the divestment, MLT’s portfolio will consist of 185 properties.

Follow the link for more news on

divestment

Reaching the people who run Asia's businesses is harder than it used to be.

Inboxes are crowded. Attention is short. The executives you most want to reach — the founders, CFOs, and operators who actually move budgets — are the hardest to find through the usual channels. If you're building a company, a category, or a reputation, you already know this.

We've spent twenty years building the room they read. Singapore Business Review is where senior decision makers in Singapore and across Southeast Asia come for business coverage they can't get elsewhere — in print, online, and in person at the summits and roundtables we host across seven markets.

If you have something these readers should know about — a point of view worth publishing, a product worth their attention, an event worth their time — we'd like to hear what you're trying to do.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia