MLT to sell China logistics assets, Singapore warehouse

The Wuxi properties have a combined agreed value of $137.9m.

Mapletree Logistics Trust (MLT) plans to divest two logistics properties in China with a combined agreed property value of $137.9m (RMB724m), as well as a warehouse in Singapore.

The trust’s two wholly owned subsidiaries have entered into conditional sale and purchase agreements to divest their 100% equity interests in the companies that own the properties, according to a bourse filing.

The assets—Mapletree (Wuxi) Logistics Park (MWLP1) and Mapletree Wuxi New District Logistics Park (MWLP2)—will be sold to a new renminbi fund for $34.3m (RMB180m) and $103.6m (RMB544m), respectively.

The cash consideration will be based on the adjusted net asset values of the companies, taking into account the agreed property values and intercompany loans.

The transaction is classified as an interested-party transaction because the fund is an associate of Mapletree Investments, which is a controlling unitholder of MLT.

MWLP1 comprises three blocks of single-storey warehouses with a net lettable area of 45,084 square metres (sq. m.) on a land site of about 67,800 sq. m.

Independent valuers placed its value at between $32m (RMB168m) and $32.2m (RMB169m).

Meanwhile, MWLP2 consists of four blocks of two-storey ramp-up warehouses with a net lettable area of 122,403 sq. m. on a land area of nearly 100,000 sq. m.

It was valued at between $102.1m (RMB536m) and $103m (RMB541m).

MLT expects to receive the proceeds from the China divestments within six months of signing the sale agreements.

In a separate filing, the trust announced plans to sell 39 Changi South Avenue 2 in Singapore to CS Ceramiche for $16.588m.

The price is 20% above the warehouse’s latest valuation of $13.8m as at March 31, 2026.

The three-storey cargo-lift warehouse has a net lettable area of about 6,129 sq. m. and was completed in 1997.

The transaction is subject to conditions including shareholder approval from CS Ceramiche’s parent, Indigo Star Holdings, and compliance with conditions imposed by JTC Corporation.

It is expected to be completed by the third quarter of FY2026/27.

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