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) | ||
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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
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