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Mercatus buys Guthrie-Lee Kim Tah stake in Jurong Point

Price of S$2.2 billion works out to S$3,343 psf on commercial NLA; deal reflects about 4.2% net yield

Kalpana Rashiwala

Published Thu, Apr 6, 2017 · 09:50 PM

Singapore

JURONG Point has been transacted at S$2.2 billion, with a sale and purchase agreement signed on Thursday. This is the biggest property investment sales deal so far this year.

Buyer Mercatus Co-operative, an NTUC social enterprise, is paying S$3,343 per square foot based on the 658,000 square feet of commercial net lettable area (NLA) in the mall that has been sold by an equal joint-venture between Lee Kim Tah Holdings and Guthrie GTS. The two companies were delisted a few years ago.