AIMS APAC REIT property at 20 Gul Way. (Photo: AIMS APAC REIT)

AIMS AMP Capital Industrial REIT has entered into an agreement to divest 10 Soon Lee Road for SGD8.17 million (USD6.1 million).

The REIT will dispose the property at a premium of approximately 28% over the its appraised value of SGD6.4 million, as surveyed independently by CBRE in September 2017.

For the year ended 31 March 2017, 10 Soon Lee Road contributed 0.8% of the REIT’s of the annual gross rental income.

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By Ridzwan Rahmat

Ridzwan has been analysing REITs and business trusts since 2008, and personally manages a portfolio comprising mainly of SGX-listed REITs. He founded REITsWeek in 2013.