CapitaLand Ascendas REIT Management Limited has announced the divestment of 95 Gilmore Road, a logistics property in Queensland, Australia, for approximately S$90m. The sale, expected to complete in the fourth quarter of 2025, was negotiated on a willing-buyer and willing-seller basis, achieving a 9.5% premium over its independent market valuation as of 30 September 2025.
The transaction is part of CapitaLand Ascendas REIT’s (CLAR) strategy to optimise its portfolio and enhance returns for unitholders. The property was originally acquired in October 2015 for S$76.8m, and the current sale price represents a 17.2% premium over this purchase price. William Tay, Executive Director and CEO of the Manager, highlighted that this divestment is part of ongoing transactions totalling S$396 million, which are expected to be completed by the end of 2025. These transactions reflect a 6.6% premium over their collective market valuation.
The proceeds from the sale, estimated at S$83.4m after divestment costs, may be used for various purposes, including financing investments, reducing debt, and supporting corporate needs. The divestment is not anticipated to significantly impact CLAR’s net asset value or distribution per unit for the financial year ending 31 December 2025.
Following this divestment, CLAR will own 228 properties across Singapore, Australia, the United States, and the United Kingdom/Europe. The move aligns with CLAR’s broader strategy to maintain financial flexibility and pursue accretive investment opportunities.
