Ascendas REIT sells Changi South Street property to Hao Mart for $20.3m

The sale price is 14% higher than the original purchase price of $17.8m.

Ascendas Real Estate Investment Trust (REIT) is selling a two-way ramp-up warehouse building along Changi South Street 1 to supermarket chain Hao Mart for $20.3m, according to a news release.

The sale price for No. 25 Changi South Street 1 is 14% higher than the original selling price of $17.8m and 2% higher than its market valuation of $19.9m. It is expected to be completed within Q1 2020.

The sale is not expected to have any material effect on Ascendas REIT’s net asset value and distribution per unit for the financial year ending 31 December.

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!