Frasers Centrepoint Asset Management Ltd., the manager of Frasers Centrepoint Trust (FCT), has announced the divestment of ten strata lots at Yishun 10, Singapore, to Lion (Singapore) Pte. Limited, a subsidiary of Frasers Property Limited. The sale, valued at S$34.5m, was finalised on 25 August 2025 and is based on independent valuations by Jones Lang LaSalle Property Consultants and Savills Valuation and Professional Services.
The divestment aligns with FCT’s strategy to optimise its portfolio and enhance returns for its unitholders. The net proceeds of approximately S$33.8m, after accounting for related expenses and tenant security deposits, will be used to repay debt, thereby reducing FCT’s leverage and strengthening its financial position. The properties, acquired in 2016, are part of a retail development next to Northpoint City and have a total gross floor area of 966 square metres.
The transaction is classified as an “interested person transaction” under Singapore Exchange rules due to the Purchaser’s relationship with the Sponsor, Frasers Property Limited. However, it does not require unitholder approval as it falls below the threshold necessitating such consent. The Audit, Risk and Compliance Committee of the Manager has confirmed that the terms of the divestment are in line with market standards and not prejudicial to minority unitholders.
This strategic move is part of FCT’s ongoing efforts to manage its property portfolio proactively, ensuring that assets are divested when it benefits unitholders, and proceeds are reinvested in line with investment criteria.
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