158 Cecil Street on the market at S$165 million to S$170 million
The price works out to S$1,450 to S$1,500 psf on net lettable area, and is 30% lower than what the owner paid for it in 2015
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[SINGAPORE] A 14-storey office building at 158 Cecil Street, on a site with a balance land tenure of about 55 years, is understood to be quietly on the market at an indicative price of S$165 million to S$170 million.
This is about 30 per cent lower than the S$240 million that an entity linked to the late Denis Jen – a Singapore citizen known for investing in shopping centres in Australia – paid for the Singapore office block a decade ago.
The Business Times understands that Jen’s children are spearheading a potential sale of the asset via property brokers.
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