Income Insurance sells 30 Prinsep Street for S$147 million

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.