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Cache Logistics Trust has completed the acquisition of a portfolio of nine properties in Australia for A$177.6 million (S$184.7 million).
Including stamp duties and other expenses, the total acquisition cost stands at about A$191 million (S$199 million).
Located on freehold land in the states of New South Wales, Victoria and Queensland, the portfolio features a gross lettable area of around 142,103 sq m.
It also has a strong occupancy of 98.1 percent and a longer weighted average lease to expiry (WALE) of five years – extending the WALE of Cache’s portfolio to 3.4 years from 3.2 years.
With the completion of the acquisition, Cache’s portfolio “now comprises 28 properties in Singapore, Australia and China with a total appraised value of approximately S$1.4 billion and the Australian portfolio makes up approximately 28.1 percent in portfolio value and 35.3 percent in gross floor area”, revealed the trust’s manager in an SGX filing.
Romesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email romesh@propertyguru.com.sg
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