The Fiji National Provident Fund is pleased to announce the acquisition of a mixed-use commercial and industrial portfolio made up of prime assets at the Kalabu Tax Free Zone (KTFZ) from Lyndhurst Investments Pte Limited.
The properties comprise of three factory outlets and three warehouse buildings, with an excellent tenant profile, such as Kookai, RCL Services, Hot Bread Kitchen and Gibson Freight.
The properties cover a land area of 8.2 acres of crown lease.
Chief Executive Officer Viliame Vodonaivalu said this acquisition is in line with the Fund’s mandate to build an industrial property portfolio, which would generate rental income and capital appreciation that will contribute to the overall growth of the investment portfolio.
“We are delighted to acquire this high-quality portfolio of stabilized income-producing assets which further improves the quality of our diversified unlisted property portfolio. In its current state, the properties offer flexible working spaces to cater for the emerging BPO market (business processing outsourcing), as well as the logistics and warehouse sector,” said Mr. Vodonaivalu.
He adds that the Fund conducted an extensive due diligence in the acquisition process and is committed to investing in unique opportunities such as these, to help members grow their retirement savings.