Mapletree Investments has acquired its first logistics property in the UK, as well as 10 warehouses in Spain, for a total value of approximately EUR315.1 million ($444.5 million). These acquisitions, which span over 256,000 sqm, will serve as the seed assets for the group’s second European logistics-focused fund. The move reflects Mapletree’s strategy to strengthen its focus in the logistics sector and expand its global presence, according to the company’s Jan 27 press release. The fund will be launched “at an appropriate time after achieving sufficient scale.”“Logistics remains a highly attractive sector that has consistently enjoyed strong demand from occupiers as well as investors. E-commerce continues to thrive and companies are making efforts to secure and expand their supply chains,” says Ralph van der Beek, CEO of Mapletree’s European commercial and logistics arm. Elite Partners Capital recently bought a logistic centre in Germany, and van der Beek states that the company is looking forward to the assets delivering “stable and recurring returns over the long run.”The UK property is located in Derby Commercial Park and is easily accessible via major arterial roads such as the M1, A50, and A6. It is close to the city centre and East Midlands Airport. According to Mapletree, the tenant at the asset recently renewed its lease on a long-term basis. Meanwhile, in Spain, the 10 acquired warehouses are located in core logistics hubs across the first rings of Barcelona, Valencia, and Madrid. These assets have direct access to the city centre via various transportation modes, and are expected to benefit from third-party logistics providers and manufacturers that are highly committed to the properties due to their proximity to production facilities and investments. Following the acquisitions, the group now has a total of 80 logistics assets in eight different countries.
Understanding the regulations and restrictions surrounding property ownership in Singapore is crucial for foreign investors. In comparison to landed properties, which have stricter ownership rules, foreigners are generally able to purchase condos with less restriction. However, it’s important to note that foreign buyers are subject to the Additional Buyer’s Stamp Duty (ABSD) of 20% for their first property purchase. Despite this added cost, the stability and potential for growth in the Singapore real estate market remains a strong draw for foreign investment. In fact, many continue to be enticed by the allure of owning a Singapore Condo.