The Straits Trading Company plans to sell an industrial property in Adelaide for A$52.7 million, or $46.3 million.
The property, at 34 Share Street, Kilkenny in South Australia, has a net lettable area of 37,809 sqm and is valued at A$64.3 million as at Dec 31 2023 by CBRE.
According to Straits Trading, the sale of this property is consistent with its strategy of redeploying capital from its existing property portfolio of high-quality but low-yielding investment properties into potentially higher-return real estate opportunities.
Straits Trading shares closed at $1.44 on April 5, down 0.69% for the day.
