Will CCT divest Twenty Anson?

OVER the past couple of years, CapitaLand Commercial Trust (CCT) has reconstituted its portfolio and recycled some capital. This has resulted in the trust gaining a bigger presence in Singapore's core office markets of Raffles Place and Marina Bay, while shedding an asset in a city-fringe location.

To recap, in 2016, the trust acquired the remaining 60 per cent interest in CapitaGreen (the new office project that it built on the former Market Street Car Park site).

Last year, it sold a half-stake in One George Street (OGS) for S$592 million, about 400 m from Raffles Place MRT Station, and exited Wilkie Edge in the Selegie area for S$280 million. The sales proceeds from these two divestments have helped to partially fund CCT's 45 per cent share of the S$1.8 billion redevelopment of the Golden Shoe Car Park site into CapitaSpring, an integrated office and serviced residence project, as well as the trust's S$2.1 billion purchase of the office and retail space at Asia Square Tower 2.