Key Points
- Sale of 23 Changi South Avenue 2 Singapore 486443 above independently appraised value.
- Sale price: S$16.7 million.
- Book value as at 30 September 2010: S$16.2 million.
- Sale expected to complete in January 2011.
- Provides opportunity for future investment opportunities.
- In the interim, net sale proceeds will be used to repay debt under the Trust’s newly established revolving credit facility, reducing aggregate leverage to approximately 33.4% from approximately 34.8%.
- Continued execution of Manager’s strategy to maximise returns for unitholders.
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