The Business Times
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SINGAPORE PROPERTY

Frasers Property in talks to sell serviced apartments, former Zouk warehouses in Jiak Kim Street, say sources 

An entity linked to Tuan Sing Holdings, said to be the prospective buyer, is looking at a price just above S$130 million

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Kalpana Rashiwala

Kalpana Rashiwala

Published Thu, May 9, 2024 · 10:57 PM
    • Fraser Residence River Promenade, which opened its doors last September, has 72 serviced apartments in a four-storey building.
    • The three warehouses, formerly home to nightspot Zouk, have been conserved. Fraser Residence River Promenade is to the right of the godowns.
    • Fraser Residence River Promenade, which opened its doors last September, has 72 serviced apartments in a four-storey building. PHOTO: FRASERS HOSPITALITY
    • The three warehouses, formerly home to nightspot Zouk, have been conserved. Fraser Residence River Promenade is to the right of the godowns. PHOTO: FRASERS PROPERTY

    FRASERS Property is understood to be in advanced negotiations for a potential sale of its 72-unit serviced-apartment property and three conserved warehouses along the Singapore River.

    An entity linked to Tuan Sing Holdings is tipped as the prospective buyer. The Business Times understands that it has been doing exclusive due diligence for a potential purchase at slightly above S$130 million.

    The asset comprises the four-storey block of serviced apartments named Fraser Residence River Promenade and the three warehouses, or godowns, which housed the popular Zouk nightspot for about 25 years until it moved to Clarke Quay in late 2016.

    Singapore propertyfrasers propertyCommercial & IndustrialResidentialServiced residences

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