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Retail property investment sales surge in Q4

The S$731.3m tally so far is up 22.4% from S$597.4m in Q3 and more than double the S$320.3m in Q4 last year

Kalpana Rashiwala

Published Mon, Dec 12, 2016 · 09:50 PM

Singapore property

Singapore

THE total value of big-ticket retail properties that have changed hands so far this quarter has surged to S$731.3 million, up 22.4 per cent from S$597.4 million in the preceding quarter and more than double the S$320.3 million in Q4 last year.

This tally as at Dec 8, compiled by Savills Singapore, was based on deals of at least S$10 million originating from the private sector.

Perennial Real Estate Holdings and Singapore Press Holdings' S$265.5 million acquisition of an additional 60 per cent stake in a partnership holding Chinatown Point mall and four strata office units above it has been the biggest deal so far this quarter.

Also boosting the Q4 number was Master Contract Services' S$250 million acquisition of the lower three levels of the four-storey Heartland Mall-Kovan and two strata retail units in Havelock II near …