SINGAPORE PROPERTY

Tekka Place on the market, with S$450 million asking price

Other retail, hospitality assets being made available include lyf Farrer Park, Rivervale Mall and i12 Katong, amid visibility of interest rate cuts

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Kalpana Rashiwala

Published Mon, Aug 12, 2024 · 11:01 PM

A joint venture between Lum Chang Holdings and LaSalle Investment Management is said to be asking S$450 million for Tekka Place, a mixed-use development that includes retail space and serviced residences with a hotel licence. PHOTO: GOOGLE MAPS
Low Keng Huat's asking price for its 285-key serviced apartment asset lyf Farrer Park and seven strata commercial units is S$240 million. PHOTO: GOOGLE MAPS
The asking price for i12 Katong, at the corner of East Coast and Joo Chiat roads, may be about S$460 million. PHOTO: BT FILE
SC Capital Partners' Rivervale Mall in Sengkang has about 80,675 sq ft of net lettable area. PHOTO: YEN MENG JIIN, BT

A BUMPER crop of retail and hospitality assets in Singapore is being offered in the market, with sellers more confident of finding buyers, now that there is light at the end of the tunnel in terms of lower borrowing costs.

These assets include Tekka Place, a mixed-use retail and serviced apartment complex owned by a joint venture (JV) between Lum Chang Holdings and LaSalle Investment Management.

The Business Times understands that the JV has appointed CBRE, JLL and Knight Frank to help find a buyer for the asset, which is on a site with a balance lease term of about 71.5 years.

Singapore property Commercial & Industrial Serviced residences Hotels Singapore retail

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