Deal brewing for Straits Trading Building

Price may be slightly over S$2,800 psf, highest for an office block in six years

[SINGAPORE] Amid the quiet investment sales market this quarter, a major office deal is brewing. Advanced discussions are believed to be going on for the Straits Trading Building, a landmark 999-year leasehold office tower in Battery Road.

The price is understood to be slightly above S$2,800 per square foot (psf) based on the net lettable area (NLA) of about 159,000-plus sq ft, which would translate to a transaction size of about S$450 million. The buyer is said to be an overseas party, from Asia....

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