Deal brewing for portfolio of 50 conservation shophouses at about S$500 million
8M Real Estate is said to be in talks to buy the properties, which are in areas such as Duxton and Tras Street
[SINGAPORE] Talks are under way for the sale of a portfolio of about 50 conservation shophouses in Singapore, at a price expected to be about S$500 million.
The shophouses, predominantly on sites with 99-year leasehold tenure, are in locations such as Duxton Road, Duxton Hill, Tras Street, Craig Road and Neil Road – all within the Tanjong Pagar Conservation Area.
Most of the properties are understood to be on land with remaining land tenures of about 61 or 62 years. Those on Tras Street have balance leases of about 67 years.
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