Straits Trading buys Japan property for 925m yen

Singapore

PROPERTY firm Straits Trading Company on Wednesday said it plans to buy for 925 million yen (S$11.6 million) the rights to a rental residential property in Osaka, Japan.

The property, Splendid Namba II, is a 14-storey freehold rental residential property located in Naniwa-ku, Osaka, Japan.

Completed in March 2015, the property has a net lettable area of about 2,992.8 square metres, comprising 120 apartment units. As as end-December 2016, the property has an occupancy rate of 95 per cen…