Mapletree Logistics Trust to sell Australian logistics property for US$20.2 million

Mapletree Logistics Trust has agreed to sell a vacant logistics property in Derrimut, Victoria, Australia, for A$28 million (US$20.2 million), according to a bourse filing on Tuesday, September 8. The sale is in line with the trust's strategy of proactive portfolio rejuvenation and is priced 3.7% above the property's latest valuation of A$27 million as of March 31, 2026.

The property, located at 365 Fitzgerald Road, consists of two single-storey warehouses, a two-storey office building, and a truck-servicing workshop, with a gross lettable area of approximately 16,114 square metres. The asset has been vacant since April 1, 2026, following the expiration of its previous lease. The manager stated that divesting the property at the offered price was the optimal outcome considering its age and limited future development potential.

Capital released from the transaction will enhance MLT's financial flexibility to invest in high-specification modern logistics facilities, improving the portfolio's quality and resilience. The proposed transaction is expected to be completed by the third quarter of MLT's 2027 financial year, with no anticipated impact on the trust's net asset value or net property income for that year.

Following the divestment, MLT's portfolio is projected to comprise 170 properties, excluding two Chinese properties and one in Singapore, as well as the Penjuru Lane property returned to JTC Corp on August 15. As of June 30, MLT held 175 properties across nine markets, with assets under management of S$13.1 billion.