ESR-REIT's 70 Seletar Aerospace View (Photo: REITsWeek)

ESR-REIT has, through its trustee RBC Investor Services, entered into an arrangement to dispose its property at 9 Bukit Batok Street 22 for SGD23.9 million (USD18 million).

The property is a five-storey warehouse industrial building with ancillary office and basement car park, and is being disposed at about 1.3% above its current book value.

9 Bukit Batok Street 22 is also sited on a triangular land area of about 67,360 square feet and a gross floor area of approximately 157,860 square feet, with a remaining land tenure of approximately 35 years.

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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.