Manager of Soilbuild Reit to explore investment opportunities Down Under

THE manager of Soilbuild Business Space Reit (Soilbuild Reit) said on Monday that it intends to seek investment opportunities in Australia, in a move that it says falls in line with its investment strategy.

"Venturing beyond Singapore will help increase Soilbuild Reit's pool of investment targets, provide access to assets with longer land tenures, allow diversification of tenant base, thereby strengthening Soilbuild Reit's portfolio for long-term growth," the manager, SB Reit Management Pte Ltd, said in an aftermarket filing with the Singapore Exchange.

It added: "Through disciplined evaluation of potential investments, the manager strives to deliver long-term sustainable yield-accretive returns for unitholders and will continue to seek a balance between risk and growth."

While there are plans to invest in Australian properties, the manager said that much of Soilbuild Reit's portfolio "will continue to comprise largely of Singapore-based assets in the foreseeable future".

The Reit comprises a portfolio of Singapore properties which includes business parks and industrial properties used by industries engaging in manufacturing, engineering and logistics among others.

Soilbuild Reit shares ended flat at S$0.64 on Monday.