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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
Saturday, September 6, 2014 - 06:00
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IT'S A DEAL Straits Trading is selling the building to unlock value and to transform its real-estate business into an engine of growth. It expects an estimated capital gain of S$39m based on the latest book value of the property and S$373.3m based on its historical cost. - PHOTO: ARTHUR LEE

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