Frasers Logistics acquires property in the UK for $171.7m

The property has a total lettable area of 667,185 square feet.

Frasers Logistics & Commercial Trust (FLCT) acquired its fourth logistics property in the United Kingdom for $171.7m (£101.0m).

It was acquired from a UK-based property developer, Stoford Properties Ltd.

The property will be built on a 14.41-hectare site and will have a total lettable area of 667,185 square feet. Its development will be completed in the second half of 2023.

READ MORE: Frasers Logistics & Commercial Trust growth supported by $5.9b acquisition pipeline

After its completion, it will be leased to Peugeot Motor Company Plc (“Peugeot”) for a lease term of 15 years, serving as the company’s national distribution centre in the UK.

Post-acquisition, FLCT said its portfolio by value towards logistics and industrial will increase to 67.11% from 66.3%, whilst its weighted average lease expiry (WALE) will jump to 4.8 years from 4.6 years.

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!

Exclusives

Is HDB resale a good investment?
OrangeTee’s Dallas Hassan and Huttons Asia Real Estate Groups’ Lee Sze Teck answer frequently-asked questions on HDB.
Spoof proof: How the new SMS Sender ID Registry prevents phishing
Phishing remains a huge problem in Singapore, with reported incidents jumping from 16 to 5,020 within four years.