Company in auto trade exercises option to buy Sime Darby Business Centre for S$68 million
Price works out to S$380 psf on existing gross floor area; deal subject to JTC’s approval
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SIME Darby Business Centre at 315 Alexandra Road, next to the Ikea store, could change hands for S$68 million.
This works out to about S$380 per square foot (psf) on the existing gross floor area (GFA) of nearly 179,190 square feet (sq ft).
An option to purchase the property was exercised this month by Eagle Land (Credit), which is in the car dealership business for new and used vehicles. The company also facilitates floor stock financing to several vehicle dealerships here, according to information on the website of Eagle Land’s subsidiary AutoSprint, which runs a dedicated vehicle workshop.
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