On March 12, 2025, Mapletree Logistics Trust unveiled plans to sell their property located at 31 Penjuru Lane for S$7.8 million. This sale price notably exceeds the most recent valuation—done on November 28, 2024—by 6.8%, which had pegged the property at S$7.3 million. They’re aiming to wrap up this transaction by the second quarter of the fiscal year 2025/26. The site in question features a three-storey warehouse that’s about 35 years old, alongside a partly five-storey, partly ten-storey warehouse combined with an ancillary office, which is roughly 28 years old.
So, why is Mapletree Logistics Trust offloading this property? According to their first quarter financial results for FY24/25, the trust’s management team is taking an active approach to refresh their portfolio by divesting assets that no longer fit with their strategic goals.
