Suntec REIT is divesting a portfolio of strata units at Suntec City for SGD197 million and acquiring a 100% interest in a London Grade A office building with ancillary retail spaces for GBP353 million.
The Suntec City office units, which feature a total of 78,491 square feet in net lettable area, are being divested at an 8.9% premium over an independent valuation.
The net property income yield for these spaces was 3.1%.
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