Croesus Retail Trust (CRT) (SGX:S6NU) announced on 30 September that it has once again sent notices of intent to purchase to vendors of two shopping malls in the greater Tokyo area.
The properties in question are Mallage Saga, shopping center bordered by Saga Ring Road Higashi and Route 264, and Forecast Kyoto Kawaramachi in a popular shopping district of Kyoto. The shopping malls have been described a ‘pipeline properties’ in the CRT announcement.
However CRT noted that the notices were sent to extend its first right to negotiate for the purchase of each of these properties until 31 December 2014 and that it has not entered into formal negotiations to acquire the properties.
“As at the date of this announcement, no definitive sale and purchase agreement has been executed in relation to any of the abovementioned properties and accordingly, there can be no assurance that any acquisitions of any of the abovementioned properties will materialise”, the trust said, adding that further announcements will be made should there be further developments on the properties mentioned.
In June 2014, CRT sent similar notices of intent to the vendors of the respective properties.
Units of CRT are currently listed on the Singapore Exchange at SGD0.945.