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Perennial signs call option to buy 20% stake in London's Aviva Tower

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Published Tue, Nov 29, 2016 · 09:50 PM

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    Singapore

    A DAY after Perennial Real Estate Holdings said it had raised its stake in the Chinatown Point mall in Singapore, the developer on Tuesday announced that it has signed a call option agreement for the right to buy a 20 per cent stake in Aroland Holdings, which owns Aviva Tower in London.

    The call option is based on an agreed property value of £330 million (S$587.8 million) for the 28-storey office building. The option price was derived based on the "as-is" market valuation of Aviva Tower of £323 million, without factoring in any potential redevelopment value.

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