Basid Ilumina, S.L.U. entered into a conditional promissory private sale and purchase agreement to acquire Il·lumina building in Spain from IREIT Global (SGX:UD1U) for ?24.5 million on December 22, 2023. The transaction is expected to be completed by the end of January 2024. The Manager intends to use the net proceeds to reduce debt and to assess opportunities for capital expenditures, acquisitions and asset enhancement which includes the divestment fee of approximately ?0.12 million payable in cash, other transaction related expenses (including divestment and other aforementioned transactions) of ?0.38 million and repayment of bank loans related to the property of approximately ?15.0 million.