Frasers Logistics & Commercial Trust (FLCT) has expanded its European holdings by purchasing a modern logistics property in Hapert, the Netherlands. The manager of the trust announced that the deal was signed and completed on 15 April 2026. The property was bought from VDG Property Development 10 B.V. for a gross price of €43.0 million, which is around S$64.1 million. This price reflects a 3.3% discount on the independent valuation of €44.45 million conducted by Jones Lang LaSalle BV in February.

The facility sits on freehold land at Diamantweg 26 and offers a gross lettable area of 25,603 square metres. It is currently 100% occupied by DSV Air & Sea Nederland B.V., a major global transport group. The lease has a long weighted average expiry of 9.5 years. This ensures a steady income stream for the trust. The building was finished recently in October 2025 and carries a high A+++ energy rating. It also includes rental adjustments linked to the consumer price index.

Ms. Anthea Lee, Chief Executive Officer of the REIT Manager, said, “This DPU-accretive acquisition of a newly completed, modern and prime freehold logistics facility in the Netherlands, which is fully leased to a global logistics provider, is a complementary addition to FLCT’s logistics and industrial portfolio. The Property’s strong fundamentals, including having a 100% occupancy rate with a long weighted average lease to expiry of 9.5 years as at 15 April 2026, are well-aligned with our strategy to grow FLCT’s high-quality logistics and industrial portfolio.”

Following this transaction, the total portfolio for FLCT grows to 114 properties with a value of roughly S$7.0 billion. Its specific weighting toward logistics and industrial assets has moved up to 75.3% from 75.1%. The trust now has a 6.4% exposure to the Netherlands. The location in Hapert is just 1.4 km from the A67 motorway. This provides quick access to Eindhoven and Antwerp. Funding for the purchase will come from a mix of existing cash and external debt.