Clifton Partners picks up Tras St shophouse trio for S$21.2m
S'pore property invesment firm buying the adjoining two-storey units from an entity linked to investor Stanley Quek
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Kalpana Rashiwala
Singapore
VETERAN property investor Stanley Quek is selling another conservation shophouse property. This time, an entity connected to him has offloaded three adjoining two-storey shophouses on Tras Street, for S$21.2 million.
The property, which is part of the Tanjong Pagar Conservation Area, is being bought by an entity affiliated to Clifton Partners, a real estate investment firm owned by Singaporean Zain Fancy. The price paid is understood to reflect a gross yield of nearly 3.5 per cent based on the current tenancies.
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