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Cycle & Carriage Singapore sells Mercedes-Benz Centre and three other properties for S$333 million

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Corinne Kerk

Published Mon, Mar 6, 2023 · 01:52 PM
    • The second biggest price tag is for the Mercedes-Benz Centre at S$131 million, or S$1,308 psf for the 100,183 sq ft site.
    • The second biggest price tag is for the Mercedes-Benz Centre at S$131 million, or S$1,308 psf for the 100,183 sq ft site. PHOTO: BT FILE

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    AUTOMOTIVE group Cycle & Carriage Singapore has completed the sale of four of its properties to M&G Real Estate for a total of S$333 million, based on caveats lodged with the Urban Redevelopment Authority.

    It was reported in October 2022 that the four properties, which include the Mercedes-Benz Centre – the first facility of its kind outside Europe – at 301 Alexandra Road, and Jardine Cycle & Carriage (Jardine C&C) headquarters at 239 and 241 Alexandra Road, were to be sold for an undisclosed sum, and be leased back at S$26 million per annum, for at least 10 years.

    The other two properties are the Mercedes-Benz commercial vehicle showroom at 209 Pandan Gardens and the Mercedes-Benz service centre for passenger and heavy commercial vehicles at 188 Pandan Loop.

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