Singapore, 7 September 2018 - SB REIT Management Pte. Ltd, in its capacity as manager of Soilbuild Business Space REIT (the “Soilbuild REIT”), and the manager of Soilbuild REIT (the “Manager”) is pleased to announce the proposed acquisitions of:
(i) a centrally located office at Australia Place, 14 Mort Street, Canberra City, ACT (“14 Mort Street”), for A$55.00 million1 (S$55.00 million) from 14 Mort Street Property CT Pty Ltd as trustee for Ascot Capital 14 Mort Street Property Trust; and
(ii) a poultry processing plant located at 1118, 1120, 1122-1136 & 1138-1146 Port Wakefield Road, Burton SA 5110 (“Inghams Burton”), for A$61.25 million (S$61.25 million) from Burton CT Pty Ltd as trustee for the Ascot Capital Burton Property Trust, (together, the “Proposed Acquisitions”)
Mr Roy Teo, Chief Executive Officer of the Manager said, “We are excited by this opportunity to gain entry into the Australia market with an acquisition of a portfolio of long tenure assets on leaseback arrangements with financially strong tenants. The Proposed Acquisitions are expected to be yield-accretive based on our intended funding scenario, enhance the quality of our portfolio and provide geographical diversification.”