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.

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.

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Frasers Logistics & Commercial Trust

Acquisitions

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