FCT Singapore to sell off Anchorpoint Shopping Centre for $110m

The mall is in a prime location in Singapore's inner west.

Frasers Centrepoint Asset Management has announced the proposed sale of the Anchorpoint Shopping Centre in Alexandra Road, on behalf of the Frasers Centrepoint Trust (FCT Singapore)

A $110m price tag has been negotiated with an unnamed buyer, with Frasers informing the SGX that it was expecting net proceeds of S$108.8m, after appraisal fees and other account divestment related expenses.

The full divestment is expected to be completed by 22 March, 2021. 

This will leave FCT Singapore's retail portfolio with 10 retail malls, accounting for approximately 2.3 million square feet of net lettable area, and more than 1,500 leases. The manager of the trust plans to use the proceeds to repay debt and also as working capital.