Frasers Logistics & Industrial Trust's 17 Hudson Court, Keysborough, Victoria (Photo: Frasers Logistics & Industrial Trust)17 Hudson Court, Keysborough, Victoria (Photo: Frasers Logistics & Industrial Trust)

Data from Frasers Logistics & Commercial Trust’s latest disclosure have been updated into the Singapore REITs table.

Frasers Logistics & Commercial Trust (FLCT) has reported a 0.8% uplift in rents renewed in 3Q FY2021, despite ongoing headwinds in the office market.

The REIT completed 74,865 square metres in lease renewals during the quarter, which represents about 2.8% of its portfolio’s total lettable area.

FLCT’s rent reversions for the quarter was mostly dragged down by its Australian industrial leases, which declined by 3.3% during the period.

Inversely, the REIT’s commercial leases for Singapore and the UK saw uplifts of 4% and 4.7% respectively.

FLCT’s logistics and industrial segment of its portfolio is presently 100% occupied, while the occupancy rate for its commercial segment is at 91.8%

The REIT’s full disclosure on its business for the quarter can be viewed here.

FLCT was last done on the Singapore Exchange at SGD1.52, which currently implies a distribution yield of 5% according to data compiled on the Singapore REITs table.

By Shariffa Al-Habshee

Shariffa joined REITsWeek in 2017, and monitors Asia-Pacific REITs for the publication.