The sale price of US$11.8 million was established by an independent property consultant, and
represents an 18.6% premium above the independent valuation of US$9.95 million as March 31, 2025.
MINT says that the property contributed about 0.1% of its portfolio's gross revenue in FY2024. The sale proceeds may be used to pare down debt and/or fund working capital requirements.
The current lease expires in August 2025, and the manager expects the divestment to be completed in the second quarter of 2025.
Units in Mapletree Industrial Trustclosed 2 cents higher or 0.985% up at $2.05 on Apr 23.
