SC Capital Partners sells Rivervale Mall in Sengkang for around S$276 million

[SINGAPORE] Suchad Chiaranussati’s SC Capital Partners has inked a deal to sell Rivervale Mall, a suburban retail mall in Sengkang which it acquired seven years ago, for about S$276 million, The Business Times has learnt.

The property is being sold to a buyer linked to Master Contract Services, a facilities maintenance company that moved into property development, which about three months earlier acquired Orchid Hotel for about S$273 million.

At S$276 million, the price tag for Rivervale Mall works out to about S$3,401 per square foot of net lettable area of 81,150 square feet. This represents a net yield of about 4.7 per cent.