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K Line sells six shophouses on Peck Seah St for S$42.8 million to fund manager
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Kalpana Rashiwala
Published Thu, Jan 8, 2015 · 09:50 PM
Singapore
A FUND managed by Phoenix Property Investors has made its maiden acquisition in Singapore.
The Pan-Asian private equity property fund manager is buying a row of six shophouses along Peck Seah Street near Tanjong Pagar MRT Station for S$42.8 million. The price works out to S$2,155 per square foot (psf) on gross floor area (GFA) of 19,860 sq ft. The shophouses are on 8,213 sq ft of land that has a balance lease tenure of about 78 years.
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