FCT sells 10 strata lots located at Yishun 10 to Frasers Property

The total sale consideration for the property was $34.5m.

Frasers Centrepoint Trust (FCT) has divested 10 strata lots in a strata-titled retail development located at 51 Yishun Central 1 (Yishun 10) next to Northpoint City to Frasers Property Limited for $34.5m.

Lion (Singapore) Pte. Limited, a wholly-owned subsidiary of Frasers Property, has entered into a sale and purchase agreement dated 25 August 2025 with HSBC Institutional Trust Services (Singapore) Limited in its capacity as a trustee of FCT.

The properties being sold are held under subsidiary strata certificates of title with a leasehold term of 99 years commencing from 1 April 1990. The properties were acquired in 2016 and have a total gross floor area of 966 square metres and a total net lettable area of 961 square metres.

In its bourse filing, FCT said it intends to use the net proceeds of the sale to repay certain debt, which will reduce FCT’s aggregate leverage and strengthen its financial position.

It was also disclosed that the divestment is not subject to FCT unitholders’ approval as it is only approximately 1.17% of the audited NTA and NAV of the FCT Group as at 30 September 2024, which is less than 5% of FCT Group’s latest audited NTA and NAV for Rule 906(1) of the listing manual and paragraph 5.2(b) of the property funds appendix.