Suntec Reit is divesting a portfolio of strata units at Suntec City Office for $197 million and acquiring a Grade A office building in London for £353 million (S$657 million), the Reit manager ARA Trust Management (Suntec) said on Tuesday (June 29).

The Suntec City Office units are being divested at an 8.9 per cent premium over the independent valuation of $180.9 million for the 78,491 sq ft of space, with a net gain on divestment of $13.9 million. The net property income yield was 3.1 per cent.