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Stack of 23 units at Draycott Eight close to being sold

Chiu family's Tang Group expected to pay slightly over S$150m for the stack of 22 four-bedders and a penthouse to be bought from a Morgan Stanley-managed fund

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The German core fund managed by Morgan Stanley will suffer a loss on the units it is divesting at Draycott Eight as it paid S$2,600 psf for them in 2007 but is expected to sell them at S$2,200 psf.

Singapore

A DEAL is said to be nearing for the bulk sale of a stack of 23 units at Draycott Eight owned by a German core fund managed by Morgan Stanley, BT understands.

The price could be slightly above S$150 million, or around S$2,200 per square foot based on the total strata area

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