>

AIMS APAC REIT to sell 3 Toh Tuck Link

By Ashley Lo

/ The Edge Singapore |

December 11, 2024 11:21 AM SGT

The sale consideration represents a 32.5% premium to the property’s valuation of $18.4 million as at March 31 (Picture: AIMS APAC REIT website)

The manager of AIMS APAC REIT (AA REIT) says the REIT’s trustee, HSBC Institutional Trust Services (Singapore) Limited, has entered into a sales and purchase agreement with Crown Worldwide for the divestment of its property at 3 Toh Tuck Link.

The sale consideration of $24.388 million represents a 32.5% premium to the property’s valuation of $18.4 million as at March 31.

The property includes a three-storey factory and a five-storey ancillary office building with a total gross floor area of 12,492.4 sqm.

Net proceeds from the divestment are expected to be reinvested to support AA REIT’s various growth initiatives, such as potential new acquisitions, asset enhancements initiatives or future redevelopment projects.

Russell Ng, CEO of the manager, says: “This aligns with our proactive asset management strategy and our continuous effort towards portfolio rejuvenation, ultimately strengthening AA REIT’s resiliency as well as delivering long term sustainable returns for our unitholders.”

The divestment is set to be completed by the first half of 2025, subject to JTC Corporation’s approval.

Following the divestment, AA REIT’s portfolio will comprise 27 properties across Singapore and Australia.

Tags:

Toh Tuck Link AIMS APAC REIT

Follow our channels to receive property news updates 24/7 round the clock.

Subscribe to our newsletter

Top Articles

1

Is it a Good Deal?: $768,000 for a three-room HDB flat along Havelock Road with remaining lease of 88 years

2

Singapore may need more ‘aggressive’ property cooling measures: Barclays

3

ANALYSIS: HDB towns with the highest number of million-dollar deals

4

Is it a Good Deal?: A freehold three-bedder in Bukit Timah sold for $2,144 psf, netting over $2 million profit

5

Emerald of Katong boosts District 15 new home sales: The Continuum emerges as top beneficiary

Our Site

Property Research

Condos

HDBs

Landed

Commercial

Industrial

Properties For Sale

Properties For Rent

Edgeprop.sg (previously known as The Edge Property Singapore) is the best property portal for real estate agents, investors, home-seekers and sellers alike in Singapore. On EdgeProp, you will be able to find the latest and hottest property news, property listings, and access tools for your research and analysis.

Whether you are looking to buy, sell or rent apartments, condominiums, executive condos, HDBs, landed houses, commercial properties or industrial properties, we bring you Singapore’s most comprehensive and up-to-date property news and thousands of listings to facilitate your property decisions. Click into any listing to check out the new AI Redesign tool to envision your property based on your preferred style, be it Scandinavian, Minimalist or many others.

Make data-driven property decisions with our easy-to-use free and paid tools. The Edge Fair Value tool lets users calculate the fair value of a property, while the En Bloc Calculator helps to determine the probability of a Singapore project being put up for collective sale. Our whole new Research tool provides you data on past transactions, price trends, and more for condos, HDBs, landed houses, commercial properties and industrial properties.

Aside from that, EdgeProp also offers a market trends tracker that lets you access historical property data, sales volume and compare how similar properties are selling, a heatmap that shows you where Singapore’s most popular property sales locations are, a HDB lease tool to calculate your HDB tenure, an affordability calculator, and property alerts to track your preferred Singapore property by project or location, as well as information on new launches.

On the lookout for undervalued property or looking to rent? EdgeProp’s powerful search filters will let you personalise your property-seeking experience – whether you are looking for a property near MRT stations, amenities like schools, or within a HDB Estate or District – so that you find exactly what you are looking for.

AIMS APAC REIT to sell 3 Toh Tuck Link

Related Articles