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ACT Holdings said to be selling shophouse portfolio to SilkRoad Property Partners

Observers estimate a total price of about S$110m to S$115m for the properties along Mosque Street, Pagoda Street and Craig Road.

Kalpana Rashiwala

Kalpana Rashiwala

Published Wed, Jul 27, 2022 · 05:50 AM
    • The Mosque Street shophouses are on a site with about 79 years' balance leasehold tenure.
    • The shophouse pair at 54 and 56 Pagoda Street are a stone's throw from Chinatown MRT interchange station and on a site with about 72 years' balance lease.
    • The Mosque Street shophouses are on a site with about 79 years' balance leasehold tenure. PHOTO: YEN MENG JIIN, BT
    • The shophouse pair at 54 and 56 Pagoda Street are a stone's throw from Chinatown MRT interchange station and on a site with about 72 years' balance lease. PHOTO: YEN MENG JIIN, BT

    A PORTFOLIO of conservation shophouses along Mosque Street, Pagoda Street and Craig Road, owned by home-grown ACT Holdings, is being sold to SilkRoad Property Partners, The Business Times understands.

    The deal is being executed through the sale of shares in ACT’s fully-owned subsidiary, Empire Lofts, which holds the shophouses. The pricing of the shophouse portfolio is being kept under wraps, though some market observers estimate this at about S$110 million to S$115 million, making it one of the largest conservation shophouse deals here.

    The shophouses are on sites with 99-year leasehold tenures, with balance leases of between 66 years and 79 years.

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