Frasers Logistics & Commercial Trust is announcing a £101.0 million (or about S$171.7 million) investment in a British logistics development in Cheshire, UK. The freehold asset is already pre-leased to Peugeot Motor Company Plc, from the Stellantis automotive group.

The Proposed Acquisition will be partially funded from the divestment proceeds of Cross Street Exchange in Singapore12 and with the balance from existing debt facilities.

The Proposed Acquisition is not expected to have any material effect on FLCT’s net tangible assets.