27 Jan 2021

AIMS APAC REIT’s acquisition of Sime Darby Business Centre

Partners Norman Ho and Chou Ching, Senior Associate Rachel Leong and Associate Dickson Lim from Rajah & Tann Singapore are acting as counsel for Aster (Alexandra) Pte. Ltd. in the sale of 315 Alexandra Road, Singapore 159944 to HSBC Institutional Trust Services (Singapore) Limited (in its capacity as trustee of AA REIT Alexandra Trust, a Sub-Trust of AIMS APAC REIT) for a sale consideration of S$102 million. The Property is a 5-storey light industrial building originally built in the 1960s with a 3-storey Annex building at the rear of the Property and is located along the Alexandra Road premium showroom precinct in the south-central location of Singapore. The Property is situated on a land area of 7,720 square metres with a gross floor area of 16,647 square metres. The Property is sold with a partial leaseback arrangement, where Sime Darby Property Singapore Limited, will lease back 70% of the building’s total gross floor area for a minimum period of 10 years immediately after completion.