Current location site: Global

Singapore, 11 November 2025 – CapitaLand Ascendas REIT Management Limited, as the manager (the Manager) of CapitaLand Ascendas REIT (CLAR), is pleased to announce the proposed divestment of 95 Gilmore Road (the Property), a logistics property in Queensland, Australia (the Proposed Divestment).  The sale consideration is approximately S$90.0 million¹ (A$101.8 million) (the Sale Consideration).

The Sale Consideration, which was negotiated on a willing-buyer and willing-seller basis, represents a premium of 9.5% over the independent market valuation of approximately S$82.2 million (A$93.0 million) as at 30 September 2025² and a premium of 17.2% to the original purchase price of approximately S$76.8 million³ (A$76.8 million) at which CLAR acquired the Property in October 2015.  

The estimated net proceeds after divestment costs from the Proposed Divestment are expected to be S$83.4 million (A$94.3 million).  The proceeds may be utilised for various purposes, including financing committed investments, paying down debt, extending loans to subsidiaries, funding general corporate and working capital needs, and/or making distributions to Unitholders.

Assuming the net proceeds were used to repay CLAR’s borrowings as at 30 September 2025, its pro forma aggregate leverage would be approximately 39.5%, lower than 39.8% reported as at 30 September 2025.

The Proposed Divestment is not expected to have any material impact on CLAR’s net asset value and distribution per Unit for the financial year ending 31 December 2025.

Assuming the Proposed Divestment had been completed on 1 January 2024, the pro forma impact on CLAR’s net property income for the financial year ended 31 December 2024 would be a decrease of S$4.3 million.

The Proposed Divestment is expected to be completed within 4Q 2025. Following the completion of the Proposed Divestment, CLAR will own 228 properties⁵ comprising 97 properties in Singapore, 33 properties in Australia, 49 properties in the United States and 49 properties in the United Kingdom/Europe.

In accordance with the trust deed dated 9 October 2002 constituting CLAR (as amended, varied, and/or supplemented from time to time), the Manager is entitled to a divestment fee of 0.5% of the Sale Consideration of the Property, which will be paid in cash.

About the Property

95 Gilmore Road is a single-storey logistics property with a total gross floor area of 41,318 square metres. It is located approximately 22 kilometres south of the Brisbane Central Business District.