Sun Venture buys Straits Trading block for S$450m
Price of some S$2,800 psf said to be a 6-year high for an office block
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Singapore
THE Straits Trading Company is selling its office tower, Straits Trading Building, to Singapore-based Sun Venture Group for S$450 million.
The announcement of the sale agreement on Friday came shortly after BT first broke news of an impending sale of the Battery Road property. BT had reported that the building owner was in advanced discussions on the sale of the building for a price of slightly above S$2,800 per square foot (psf) which, at a net lettable area of about 159,000-plus sq ft, had worked out to a price tag of S$450 million for the 999-year leasehold building.
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