Raj Kumar, son Kishin in exclusive due diligence to buy Scotts Square for S$320 million
The freehold mall has potential for substantial refurbishment and repositioning
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[SINGAPORE] A potential sale of Scotts Square is in the early stage of being hammered out at a price of about S$320 million.
The father-and-son team of Raj Kumar and Kishin RK is said to be in exclusive due diligence for a purchase of the four-level freehold retail mall in a prime Scotts Road location, just off Orchard Road.
Scotts Square is owned by Wharf Estates Singapore, formerly known as Wheelock Properties (Singapore). The company is a wholly owned subsidiary of Hong Kong-listed Wharf Real Estate Investment Company, which in July inked a deal to sell Wheelock Place in Orchard Road to Hongkong Land’s Singapore Central Private Real Estate Fund (SCPREF) for S$1.1 billion.
