, Singapore
236 views
Photo from AIMS APAC REIT

AIMS APAC REIT to divest four-storey property in Yishun Industrial Park

The property is up for sale for $12.88m.

AIMS APAC REIT divested a property in Yishun Industrial Park A for $12.88m after HSBC Institutional Trust Services entered a Sales and Purchase Agreement with Cantal United.

The sale price represented an 8.2% premium to the property's valuation of $11.9m.

The four-storey property on a 6,851-square-metre land site, located at 541 Yishun Industrial Park A, has a total gross floor area of 8,770 square metres and has a limited redevelopment potential with a remaining land lease tenure of 31 years.

READ MORE: CapitaLand Ascendas REIT to divest 7-storey industrial building

Russell Ng, the Manager's CEO, said the divestment is part of its proactive asset management strategy to optimise and rejuvenate its portfolio.

Net proceeds from the divestment would be utilised to repay debt initially and may be recycled for asset enhancement initiatives, redevelopment opportunities, and selective acquisitions.

Follow the link for more news on

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!