Aims Apac Reit Sell 3 Toh Tuck Link

The trustee of AIMS APAC REIT (AA REIT), HSBC Institutional Trust Services (Singapore) Limited, has recently entered into a sales and purchase agreement with Crown Worldwide for the divestment of its property located at 3 Toh Tuck Link. The sale consideration of $24.388 million is a 32.5% premium to the property’s valuation of $18.4 million as of March 31. The property consists of a three-storey factory and a five-storey ancillary office building, with a total gross floor area of 12,492.4 sqm.

According to the CEO of the manager, Russell Ng, the net proceeds from the divestment will be reinvested to support AA REIT’s growth initiatives, such as potential new acquisitions, asset enhancement initiatives, or future redevelopment projects. This is in line with the proactive asset management strategy and continuous efforts towards portfolio rejuvenation, which will ultimately strengthen the REIT’s resiliency and deliver sustainable returns for its unitholders.

Families with young children will find Aurelle of Tampines EC to be an ideal residential location, thanks to its numerous primary schools and preschools in the surrounding area. For parents, having access to quality primary schools is a top consideration when choosing a home, as it not only cuts down on the travel time for their kids, but also greatly impacts the Primary One registration process in Singapore. With the added convenience of living near good schools, families can confidently choose to call Aurelle of Tampines EC their home.

The divestment is expected to be completed by the first half of 2025, subject to approval from JTC Corporation. Following the divestment, AA REIT’s portfolio will consist of 27 properties in Singapore and Australia.