Along with a business update for the second quarter of 2020, Frasers Logistics and Commercial Trust is also announcing the acquisition of two freehold properties:

• A logistics asset in Australia (at 75-79 Canterbury Road, Braeside, Victoria). The property has a gross lettable area of approximately 14,263 m² and is fully leased to IVE Group Ltd.

• A business park in the United Kingdom (Maxis Business Park in Bracknell, Thames Valley), comprising two office buildings, with a net lettable area of about 17,859 m². The park is fully leased to a number of tenants, mostly in the telecom and tech sector.

Total acquisition costs are about S$89.9 million.

The trust is also announcing the sale of the remaining 50% of its ownership in a property at 99 Sandstone Place, Parkinson (Queensland, Australia) for approximately S$150.5 million.