Mapletree Logistics Trust acquires warehouse in Australia
Mapletree Logistics Trust Management has entered into a conditional forward purchase agreement with Wooreddy Investments for the acquisition of a warehouse in Truganina, a suburb of Melbourne (Australia) at a property purchase price of AUD 18.4 million (EUR 11.4 million).
The property is a one-storey modern logistics facility to be constructed in Truganina, Melbourne. Sited on freehold land having an area of 25,650 sqm, it will have a net lettable area of approximately 15,100 sqm when completed.
The property will be acquired with vacant possession and settlement is expected to take place by third quarter of 2020, subject to fulfilment of the relevant conditions precedent, which include all approvals and practical completion of the warehouse being achieved. Mapletree Logistics Trust will be responsible for leasing the warehouse. (mw)