Frasers Logistics & Commercial Asset Management, the manager of Frasers Logistics & Commercial Trust (FLCT), has plans to acquire interests in three freehold logistics and industrial properties located in Germany and a logistics and industrial property in the Netherlands (New EU Properties), from subsidiaries of Frasers Property; and two freehold properties, known as Connexion and Blythe Valley Park (The New U.K. Properties), located in the United Kingdom from subsidiaries of I.M. Properties PLC, collectively with the New EU Properties.
The sales price was S$548.7 million ($412.2 million).
The proposed acquisition is positioned to capitalize on strong logistics industry tailwinds. The United Kingdom and Germany are the two largest ecommerce markets in Europe and among the top 10 globally. In the United Kingdom, online retail sales penetration increased 46 percent year-on-year (Y-o-Y) in 2020, while Germany and the Netherlands also experienced g
