SG Realty: Thakral Group launches retirement villages, Cache Logistics sells property, GSH Corp discusses divestment

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View of Singapore's central business district

Thakral Corporation has launched two retirement resorts in Australia while Cache Logistics Trust is divesting its Changi North Way property for $26 million. Meanwhile,  property developer GSH Corporation is in talks to divest an unnamed asset.

Thakral launches resort-style retirement housing in Australia

Mainboard-listed Thakral Corp and Australian retirement homes operator Living Gems Lifestyle Resorts have launched a resort-style retirement housing in Australia under its joint venture, GTH Resorts group of entities.

The “GemLife” brand for the resorts have already seen GemLife Bribie Island and GemLife Highfields launched in Queensland late last month and earlier this month respectively.

GemLife’s retirement homes are targeted towards the “baby boomer” housing market in Australia which has seen rapid growth with the over 65-year-old cohort which forms the fastest growing age group growing at 3.6 per cent per year.

GemLife Bribie Island is expected to have 404 homes on a 24.9-hectare site, including a 9.5-hectare lake while GemLife Highfields will have 233 homes on a 9- hectare site

Units are directed at owner-occupiers with a price range of between A$360,000 and A$575,000 and the first occupants for both retirement home sites are expected to move in by mid-2017.

A third site in New South Wales, which can accommodate 210 homes on an 11-ha site is also expected to be approved for development in Q1FY2017.

Cache Logistics to sell Changi warehouse for $26m

Cache Logistics Trust announced on Monday that it has entered into a Sale and Purchase Agreement with Agility International Logistics for the proposed divestment of Cache Changi Districentre 3 for S$25.5 million.

Located at 6 Changi North Way, the property is a multi-tenanted, two-storey ramp-up warehouse with mezzanine ancillary office space and a remaining land lease of about 17 years. It also has a gross floor area of about 177,000 square feet.

Proceeds from the sale will go towards reducing existing debt and fund new acquisitions, working capital and distributions to unitholders.

GSH Corp in talks to sell unnamed asset on SGX query

Property developer GSH Corporation announced on Monday that it is in talks to sell an unnamed asset.

Responding to a query by the Singapore Exchange on its usual share price movement earlier in the day, GSH said: “The Company is in preliminary discussions in relation to a potential disposal transaction. No definitive legal documentation has been signed on the same matter.”

The company had previously seen its share price nearly double over the last two months.

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