SB Reit Management, the manager of Soilbuild Business Space Reit, will be commencing proceedings in the High Court of Singapore regarding additional land rent payable to JTC corporation, which amounts to some S$3.5 million per annum, it announced on Friday.

The property, Solaris, was acquired by Soilbuild Reit on Aug 16, 2013, and the rent payable to JTC comprised of land rent of S$405.10 per square metre per annum and subterranean rent of S$23.48 psm per annum, said Soilbuild.

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