CapitaLand Commercial Trust sells Wilkie Edge for S$280m

CAPITALAND Commercial Trust (CCT) said on Monday it would sell Wilkie Edge to Lian Beng (8) Pte Ltd for S$280 million.

Wilkie Edge is a 12-storey integrated development comprising office and retail units as well as a serviced residence, Citadines Mount Sophia. As at March 31, 2017, Wilkie Edge had a committed occupancy rate of 99.9 per cent and contributed 3 per cent to CCT's first-quarter 2017 net property income.

The sale price is 39.3 per cent above the valuation of Wilkie Edge as at Dec 31, 2016. The sale is expected to be completed in September 2017.