Frasers Logistics and Commercial Trust (FLCT) has announced in its 3QFY2025 ended June 30 business update that it has achieved a 43.3% portfolio reversion on an average-on-average basis.
The trust for the third quarter reported an overall occupancy rate of 92.5%, of which 96.7% were logistics & industrial (L&I), and 85.1% were commercial. The trust said that there was an occupancy decline in the Singapore L&I segment due to a tenant exercising break option.
One third of this space has already been committed on a back-to-back basis with no downtime. The remaining two thirds has been secured post-quarter end.
The trusts’ weighted average lease expiry (WALE) of 4.6 years.
Its aggregate leverage for the 3QFY2025 came in at 36.8%, and debt headroom was $362 million.
After this quarter, FLCT has announced the divestment of a non-core commercial asset for a consideration of A$192.1 million. This divestment allows the trust to exit the “challenging Melbourne CBD office market”, it says.
