Frasers Property Limited said on Jul, 07 2026 that it has signed separate sale and purchase agreements to divest five freehold industrial properties in Melbourne, Australia, to wholly owned subsidiaries of ESR-REIT for a total consideration of about 288.6 million Australian dollars, equivalent to roughly 258.4 million Singapore dollars.

The portfolio comprises warehouse and ancillary office facilities at 15 & 33 Archer Road and 4-12 Doriemus Drive in Truganina, 64 West Park Drive in Derrimut, and 39 Naxos Way plus 58-76 Naxos Way & 68 Atlantic Drive in Keysborough.

A 5% deposit is due within two business days of the contract exchange, with the balance payable at completion. The consideration will be adjusted downward by about 11.8 million Australian dollars (approximately 10.5 million Singapore dollars) for unutilised rent incentives and a rental guarantee, resulting in a net purchase price of about 276.8 million Australian dollars (approximately 247.9 million Singapore dollars), 7.77% above the assets’ carrying value.

Completion of the transaction is scheduled to occur simultaneously for all assets within 10 business days after the later of 20 business days from the agreement date or the receipt of required regulatory approvals.

Frasers Property said the sale is part of its capital-recycling strategy and is not expected to have a material effect on the group’s earnings per share or net asset value per share for the current financial year. No directors’ service contracts will be entered into in connection with the divestment, and the company stated that none of its directors or controlling shareholders has an interest in the transaction beyond their existing roles.