The Business Times
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SINGAPORE PROPERTY

Lian Beng-Apricot Capital JV selling Wilkie Edge to Keppel Capital

Separately, a CapitaLand-linked entity is said to be in negotiations to buy Hotel G Singapore

Kalpana Rashiwala

Kalpana Rashiwala

Published Thu, Nov 9, 2023 · 08:54 PM
    • Standing at the corner of Wilkie and Selegie roads, Wilkie Edge is on a site with a balance lease term of about 81 years.
    • There is potential to add value to the freehold Hotel G by converting some car park space into additional guest rooms.
    • Standing at the corner of Wilkie and Selegie roads, Wilkie Edge is on a site with a balance lease term of about 81 years. PHOTO: GOOGLE MAPS
    • There is potential to add value to the freehold Hotel G by converting some car park space into additional guest rooms. PHOTO: BT FILE

    A JOINT venture (JV) between Lian Beng Group and Apricot Capital is said to have entered into a deal to sell the office and retail space at Wilkie Edge in the Selegie area to Keppel Capital.

    The Business Times understands that the price is close to S$350 million, which reflects S$2,200-plus per square foot based on a net lettable area of about 154,500 sq ft comprising mostly offices.

    The Lian Beng-Apricot JV paid S$280 million for the asset in 2017, acquiring it from the-then CapitaLand Commercial Trust (CCT). The JV is said to have done some minor refurbishments to the asset.

    Singapore propertySingapore commercial propertyCommercial & IndustrialHotels

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