Another potential deal for Midlink Plaza site?

ANOTHER deal could be brewing for the sale of the former Midlink Plaza site in Middle Road, after an earlier proposal to inject the property into listed nightspot operator LifeBrandz as part of a reverse takeover deal vaporised recently.

This time around, China's Nanshan Group - which is involved in diversified businesses ranging from aluminium and golf courses to education and wine - is said to be in negotiations to buy the property on a completed basis. Talk in the market is that a price of about S$270 million is being discussed. The site, which has a balance lease term of about 65 years, is being redeveloped into a 396-room boutique hotel, with some strata retail space.

Nanshan is understood to be the Chinese party that last year acquired the Park Regis Singapore hotel along New Market Street/Mer-chant Road for around S$250 million. It has also been taking part in Singapore state land tenders. It was the fourth highest bidder at last month's tender for a commercial and residential site next to Potong Pasir MRT Station. It also participated, again unsuccessfully, in last week's tender for an executive condominium site in Choa Chu Kang Drive.