Mapletree Logistics Trust Management Ltd. has announced the proposed divestment of a property located at 365 Fitzgerald Road, Derrimut, Victoria, Australia. The sale, valued at $17.8m (A$28m), is part of the trust’s strategy to rejuvenate its portfolio by reallocating capital towards high-specification modern logistics facilities. The transaction is expected to be completed by the third quarter of FY26/27.
The property, acquired by Mapletree Logistics Trust (MLT) in 2016 for $11.4m (A$18m), includes two single-storey warehouses, a two-storey office building, and a lorry servicing workshop, with a gross lettable area of around 16,114 square metres. It has been vacant since 1 April 2026, following the expiry of the previous lease. The sale price is 3.7% above the latest valuation of $17.1m (A$27m) as of 31 March 2026, according to an independent valuation by Knight Frank Valuation & Advisory Victoria.
The divestment aligns with MLT’s proactive approach to managing its assets, focusing on properties with greater development potential. “The divestment at the offered price represented the optimal outcome in the interests of Unitholders,” stated the Manager. The capital released will enhance MLT’s financial flexibility, allowing for further investments in its portfolio.
Following this sale, MLT’s portfolio will consist of 170 properties across various regions. The divestment is not expected to significantly impact MLT’s net asset value or net property income for FY26/27.
