- Frasers Logistics & Commercial Trust provided a business update for 3QFY25. It sustained positive double-digit rental reversion of 55.8% for new/renewal logistics leases based on an average vs average basis in 3QFY25. Its low aggregate leverage of 36.8% provides a debt headroom of S$521m after the divestment of 357 Collins Street.
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Continues to achieve positive double-digit rental reversion.
- Frasers Logistics & Commercial Trust achieved a positive rental reversion of +43.3% for new/renewal leases (logistics: 55.8%, commercial: 17.7%) based on an average rent vs average rent basis in 3QFY25. Portfolio occupancy eased 1.4ppt q-o-q to 92.5% as of Jun 25.
Logistics properties in Australia experienced strong rental uplift.
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- Occupancy for logistics properties in Australia eased 4.3ppt q-o-q to 95.7% due to non-renewal by Techtronic. Management is confident of backfilling the vacant space due to its central location in Sydney. Its logistics properties in Australia are expected to maintain positive rental reversion as they are under-rented by 15-20%.
- Frasers Logistics & Commercial Trust’s logistics properties in the UK and Europe were fully occupied.
Rapid backfilling a reflection of strong demand in Singapore.
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