CapitaLand Commercial Trust sells Wilkie Edge for S$280m
CAPITALAND Commercial Trust (CCT) said on Monday it would sell Wilkie Edge to Lian Beng (8) Pte Ltd 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 sale price is 39.3 per cent above the valuation of Wilkie Edge as at Dec 31, 2016. The sale is expected to be completed in September 2017.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Gold prices set for weekly decline ahead of US inflation data
Huawei’s new phone sports latest version of made-in-China chip
Meta’s earnings flop sparks US$400 billion sell-off in tech stocks
Singapore shares open lower on Friday; STI down 0.1%
OUE wins tender to lease, develop new ‘zero-energy’ hotel at Changi Airport’s T2
Roku’s warning on ad-supported streaming competition clouds upbeat earnings