S Prime Growth Leasehold Real Estate Investment Trust : Notification of the completion of additional investment in Suntowers Retail Space
June 24, 2022 at 07:36 am
Share
Ref : SREIT/027/2022
24 June 2022
Subject: Notification of the completion of additional investment in Suntowers Retail Space
To: The President
The Stock Exchange of Thailand
S REIT Management Company Limited (the "Company") as the REIT manager of S Prime Growth Leasehold Real Estate Investment Trust ( "SPRIME") would like to inform you that today (24 June 2022) SPRIME has completed its acquisition of the additional assets in Suntowers Retail Space and the registration of leasehold right for some parts of the building (additional investment assets) at the relevant land offices is also completed on the same day of its acquisition.
The entering into this transaction was completed in compliance with the resolutions of SPRIME's Extraordinary General Meeting of Trust Unitholders No. 1/2022 which was held on 15 February 2022. The acquisition's total investment value is Baht 213,000,000 (including the registration fees, stamp duties, and other relevant fees), where the source of fund was from a loan from Krung Thai Bank Public Company Limited. The details of which are summarized as follows:
Details
Suntowers Retail Space
Location
No. 123 Suntowers building, Vibhavadi Rangsit Road, Chom Phon Sub-
District, Chatuchak District, Bangkok 10900
Assets invested by SPRIME
Retail Space
943 square meters
Remaining Common Area*
1,817 square meters
( Remark: * Common area which SPRIME did not previously invest,
including leasable storage room of 1,274 square meters, but excluding
promotion area of 1,377 square meters where stalls in Suntowers are
located)
Nature of investment
Leasehold on 943 square meter retail area and leasehold on 1,817
square meter remaining common area and storage room (excluding
promotion area) in Suntowers building.
Lease term
26 years, 6 months, and 25 days in approximate, starting from 24 June
2022 to 17 January 2049
Investment value
Baht 213,000,000 (including the registration fees, stamp duties, and
other relevant fees)
1
Details
Suntowers Retail Space
Source of fund
Loan of Baht 213,000,000 from Krung Thai Bank Public Company
Limited, secured by
(1) business security registration on leasehold rights over land, office
space, parking space and operating systems of Suntowers
building, pursuant to lease agreement dated 18 January 2019; and
(2) business security registration on leasehold rights over retail
space, remaining common area and storage room (excluding
promotion area) of Suntowers building
Property manager
Max Future Company Limited
Please be informed accordingly.
Sincerely yours,
S PRIME GROWTH LEASEHOLD REAL ESTATE INVESTMENT TRUST
By S REIT Management Company Limited as the REIT Manager
- Mr. Achawit Singsuwan -
(Mr. Achawit Singsuwan)
Managing Director
2
Attachments
Original Link
Original Document
Permalink
Disclaimer
S Prime Growth Leasehold REIT published this content on 24 June 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 June 2022 06:35:02 UTC.
S Prime Growth Leasehold Real Estate Investment Trust (the Trust) is a Thailand-based real estate investment trust. The Trustâs objective is to seek funds from investors by investing mostly in property or property leasehold rights and generating benefit from such properties, including to improve, alter, develop, or dispose other assets in which the Trust invest or possess whatsoever lease, sub-lease or sale, or other process for the benefit of the property and creating revenue and return to the Trust and the unitholders. The Trust operates in business, which is the investment in property, and conducts its business only one property in Thailand. The Trust leasehold is in the Suntowers Building project, with a total area of 118,828.00 square metres, including office buildings and parking lots. The Trust is managed by S REIT Management Co., Ltd. (the REIT Manager), SCB Asset Management Company Limited acts as the Trustee, and Max Future Co., Ltd. acts as the Property Manager.