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BREADTALK Group said on Tuesday evening that it has been granted an option to purchase a corner freehold shophouse in Holland Village at a consideration of about S$16.2 million.
The option for the property located at 22 and 22A Lorong Mambong shall remain valid until 4pm on Oct 9, 2017.
The purchase consideration for the property is S$16.2 million and is subject to Goods and Services Tax.
BreadTalk intends to fund the purchase of the property by internal resources.
The sale and purchase of the property remains subject to, among others, BreadTalk's solicitors receiving satisfactory replies to their legal requisitions and applications for interpretation plans to the various government departments and the Land Transport Authority (Rapid Transit Systems).
If the group does not exercise the option on or before the stipulated deadline, the offer shall lapse and the option money paid will be forfeited.