The properties, located next to Northpoint City, are held under subsidiary strata certificates of title. The lots have a leasehold term of 99 years commencing from April 1, 1990. They were acquired in 2016 and have a total gross floor area of 966 sqm and total net lettable area (NLA) of 961 sqm.
The manager of FCT says that it intends to use the proceeds from the divestment to pare down debt, which will reduce FCT’s aggregate leverage and strengthen its financial position.
Units in FCT closed flat at $2.34 on Sept 23.
