Frasers Logistics & Commercial Trust is announcing the divestment of 357 Collins Street, Melbourne, a 25 storey freehold office building:

The consideration payable by the purchaser after netting off the outstanding tenant lease incentive liabilities that will be transferred to the purchaser is A$192.1 million (approximately S$161.4 million). This represents a 0.6% premium to 357 Collins Street's independent valuation of A$191.0 million (approximately S$160.4 million) as at 1 June 2025. The proposed divestment of this commercial property aligns with the REIT Manager's proactive asset management and portfolio rebalancing strategies, and allows FLCT to strategically exit the challenging Melbourne office CBD market, which continues to suffer from remote work culture, leading to an elevated vacancy level of 18.6% in Melbourne.