Yeoju Logistics Centre (Mapletree Logistics Trust)Yeoju Logistics Centre (Mapletree Logistics Trust)

Mapletree Logistics Trust (MLT) announced on 20 October that it is acquiring Yeoju Logistics Centre in South Korea for KRW135 billion (SGD154 million).

The property features two blocks of 3-storey dry warehouses that were completed in 2019.

It is equipped with high quality building specifications such as loading of over 20 KiloNewton per square metre, high floor-to-ceiling height of 10 to 17 metres, large contiguous floor plates of up to 14,200 square metres and a full sprinkler system.

It spans over 70,400 square metres in total gross floor area on approximately 56,200 square metres of freehold land.

The property also provides direct ramp access to the upper floors and docking yards, said the REIT in its announcement on 20 October.

These features are aimed at maximising speed and efficiency to facilitate high flow logistics operations, the REIT added.

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By Shariffa Al-Habshee

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