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Mapletree Logistics Trust (MLT) has completed the divestment of Senai-UPS in Malaysia.
Situated within the Senai Industrial Estate in Johor, the single-storey warehouse comes with an annexed two-storey office building. The property is nestled on an 18,165 sq m site, featuring a gross floor area of 11,494 sq m.
MLT announced in December that it is disposing the property for RM28 million (S$9.4 million), which represents a 37 percent premium over its latest valuation.
Notably, Savills (Johor) Sdn Bhd has valued the property at RM20.5 million (S$6.9 million) as at 31 October 2017.
With the divestment, MLT’s portfolio now stands at 124 properties, of which 49 are in Singapore, 9 in Australia, 20 in Japan, 14 in Malaysia, 11 in South Korea, 9 in Hong Kong, 3 in Vietnam and 9 in China.
“The total book value of these properties is approximately S$6.2 billion,” said MLT’s manager.
This article was edited by Keshia Faculin.
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