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Frasers Property closes A$63M sale deal; Yuzhou to buy 90% of China project


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Frasers Property closes A$63M sale deal; Yuzhou to buy 90% of China project

This feature rounds up recent property news from S&P Global Market Intelligence's covered companies and highlights larger deal coverage already published.


* Frasers Property Ltd.'s Frasers Property Australia Pty. Ltd. subsidiary completed Sept. 5 its divestment of two prime industrial properties to Frasers Logistics & Industrial Trust for A$62.6 million. A leasehold asset in New South Wales and a freehold property in Queensland changed hands through the transaction disclosed Aug. 31.

* Eureka Group Holdings Ltd. said the settlement agreements with the owners of the Couran Cove Resort on the Gold Coast's South Stradbroke Island failed to close Sept. 6, as earlier agreed on. As such, the company was advised that discussions relation to the transaction will continue later on Sept. 7.


* A Yuzhou Properties Co. Ltd. subsidiary agreed to buy World Fair Development Ltd. in a roughly 194.4 million-yuan deal with Coastal Greenland Ltd.'s Coastal Green Investment Management Ltd. unit. World Fair indirectly owns a company that has a 90% stake in a commercial development in Wuhan.


*Mapletree Logistics Trust signed an option agreement for the conditional S$22.4 million sale of its 531 Bukit Batok Street 23 property to Setsco Services Pte. Ltd.

JTC Corp. gave in-principle approval for the potential transaction that centers on a six-story warehouse that has a gross floor area of 18,843 square meters and sits on a roughly 7,555-square-meter site, with an allowable plot ratio of up to 2.5.

* Hwa Hong Corp. Ltd. closed Sept. 4 its S$13.8 million acquisition of two commercial land plots at Town Subdivision 17 in Jalan Besar from City Developments Ltd. The properties with a combined total area of approximately 300.1 square meters were formally purchased through the buyer's 253 JB Pte. Ltd. indirect subsidiary.

Additional coverage

Soilbuild Business Space REIT enters Australia with A$116.3M property buys

Charter Hall fund buys Sydney logistics facility for A$71.6M

Star Asia Investment completes ¥19.7B buy of 6 Japanese properties

Beijing Capital expects 590M yuan from auction of 51% stake in subsidiary

Sun Hung Kai, Wheelock, Nan Fung Development to sell 597 new flats in Hong Kong