On 22nd November 2024, Paragon REIT announced they will divest Figtree Grove. Paragon REIT has, through its 85% owned trust, Figtree Trust, entered into a put and call option deed with an unrelated party to divest Figtree Grove Shopping Centre for a cash consideration of A$192.0 million. The divestment consideration of A$192.0 million reflects a A$9.0 million or 5% premium over the independent valuation of A$183.0 million. With the divestment of The Rail Mall in August 2024 and Figtree Grove, Paragon REIT will be left with 2 retail malls in Singapore and 1 retail mall in Australia. In Singapore, the malls are Paragon and The Clementi Mall. In Australia, the remaining mall is Westfield Marion SA. What is Paragon REIT’s rationale for Divesting Figtree Grove? As shared in the announcement, the divestment consideration of A$192.0 million represents a A$9.0 million premium to the book value. The proceeds from the divestment would also allow Paragon REIT to optimise its capital...