Zhou family from Shanghai buys 60% of 139 Cecil Street
Transaction said to value leasehold office block at S$140m; Zhous acquired next-door property last year
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Kalpana Rashiwala
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Singapore
THE Zhou family from Shanghai who picked up an office block at 137 Cecil Street last year has bought a 60 per cent stake in the company that owns the next-door property at 139 Cecil Street.
The latest deal is said to value the 11-storey property at S$140 million. It is on a site with 99-year leasehold tenure starting Aug 20, 1981, which means the balance lease is around 64 years.
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