CCT to sell Wilkie Edge to Lian Beng JV for S$280m

Singapore

CAPITALAND Commercial Trust (CCT) said on Monday that it would sell Wilkie Edge to Lian Beng Group and the private investment firm of Super Group's Teo family for S$280 million.

Wilkie Edge is a 12-storey integrated development comprising office and retail units as well as a serviced residence, Citadines Mount Sophia. As at March 31, 2017, Wilkie Edge had a committed occupancy rate of 99.9 per cent and contributed 3 per cent to CCT's first-quarter 2017 net property income. The top three tenants are SF Consulting Pte Ltd, Kaplan Learning Institute Pte Ltd and Tower Research Capital (Singapore) Pte Ltd. The development has a balance lease of 88 years.