Frasers Logistics Trust is divesting from an industrial facility located near Melbourne, Australia. The transaction of S$16.64 million is 13.1% over its book value.

Robert Wallace, CEO of Frasers Logistics & Industrial Asset Management, said, “63-79 South Park Drive is an older, non-core manufacturing-suited facility with an imminent lease expiry. The proposed sale of the Property is timely and in line with our proactive asset management and portfolio rebalancing strategies.”