S'pore firms active with property deals at end of business week

A NUMBER of Singapore-listed companies announced deals and updates linked to property transactions on Friday evening, with a couple related to Australian properties.

Cache Logistics Trust on Friday said it would buy a distribution warehouse facility in Queensland, Australia for about A$10 million (S$10.15 million). This would be its sixth warehouse in Australia, and will be fully leased to Western Star Trucks Australia until August 2023.

Real estate company Hiap Hoe plans to sell its freehold asset in Melbourne, Australia, for A$118 million. It is a mixed-use retail and office asset that is located in the Central Business District of Melbourne. The property at 206 Bouke Street has an approved planning permit to build a 142-room hotel above the fourth level of the existing development, it said on its website.

There were also property-related transactions in Singapore that were announced on Friday evening. Property group Roxy-Pacific Holdings said it would, through its subsidiary, acquire a freehold residential site in Singapore for S$4.08 million.

Crane distributor Tat Hong Holdings announced that its earlier agreement to sell its property at 11 Gul Crescent for S$25 million has fallen through, but that it is now in talks with another potential buyer for the site.