Singapore commercial property

Buyer is linked to Master Contract Services, which recently bought Orchid Hotel

It is expected to maintain a presence in MacDonald House, but exit its Mediapolis and Alexandra Road premises

The property is expected to draw interest from private wealth investors and family offices

8M Real Estate is said to be in talks to buy the properties, which are in areas such as Duxton and Tras Street

This is the third-generation scion’s attempt to modernise his family’s property business, one curated project at a time 

But market watchers say the moves are isolated and not a structural migration

The two-storey shophouses are fully let; tenants include Pet Lovers Centre, a spa, bakery and F&B outlets

Tribunal highlights the importance of finality, saying the company should not be allowed to ‘cherry-pick’

Still, unitholders vote overwhelmingly in favour of the proposed acquisition, with 99.96% of votes for it