- Frasers Logistics & Commercial Trust’s 1HFY25 results demonstrated continued strong positive rental reversion of 33% for its logistics properties in Australia. It maintained full occupancy for its logistics properties in Australia, Europe and the UK.
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Absentee owner surcharge (AOS) in Victoria and Queensland affected NPI margin.
- Revenue and adjusted NPI increased 7.5% and 1.6% y-o-y respectively in 1HFY25 due to practical completion of Ellesmere Port in the UK (Dec 23) and Maastricht Property in the Netherlands (Oct 24) and the acquisition of four German logistics properties (Mar 24) and 2 Tuas South Link 1 in Singapore (Nov 24).
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Logistics properties experienced strong rental uplift.
- Frasers Logistics & Commercial Trust achieved positive rental reversion of +19.2% for new/renewal leases based on average rent vs average rent basis in 2QFY25. Seven logistics leases were renewed at positive rental reversion of +33.0%.
- Rental reversion for commercial properties was mostly flattish.
Further backfilling of space vacated by Google.
- Read more at SGinvestors.io.
