Income Insurance sells 30 Prinsep Street for S$147 million
The price works out to about S$3,000 psf on the net lettable area for the 999-year leasehold building
Income Insurance is said to have sold its 11-storey, 999-year leasehold commercial building at 30 Prinsep Street for about S$147 million.
The price reflects about S$3,000 per square foot on the 48,974 sq ft net lettable of the property, which is a stone’s throw from Bencoolen MRT station on the Downtown Line. A short distance away are Bras Basah station and Dhoby Ghaut MRT interchange station.
The buyer is understood to be an entity linked to the Lim family of Midview group, which has developed commercial and industrial properties including Midview City in Sin Ming Lane.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Property
Canadian homes for sale climb with second-biggest jump on record
US homebuilder sentiment tumbles as rates slow buyer traffic
Eurozone home loan stress ‘manageable’ despite high rates, says ECB
Sandpiper Hotel in Little India back on the market for S$33 million
China mulls government purchases of unsold homes to ease glut
Europe’s property slump easing as rents increase, report says